Novartis' Strong Branded Drug Portfolio Supports Steady Long-Term Growth

With strong positions in multiple key therapeutic areas, Novartis is well positioned for steady long-term cash flows. Strong intellectual property supporting multibillion-dollar products, combined with an abundance of late-stage pipeline products, creates a wide economic moat. While patent losses on multiple sclerosis drug Gilenya and cancer drug Afinitor will weigh on near-term growth, a strong portfolio of drugs along with a robust pipeline should ensure a steady long-term outlook.