1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
Novartis reported solid second-quarter results largely in line with our expectations and we don’t expect any changes to our fair value estimate. We continue to view Novartis as fairly valued with the market appreciating the steady outlook for the company driven by new innovative drugs offsetting upcoming patent losses. The strong and developing pipeline continues to provide support for the firm’s wide moat.
Novartis AG develops and manufactures healthcare products through two segments: Innovative Medicines and Sandoz. It generates the vast majority of its revenue from Innovative Medicines segment consisting global business franchises in oncology, ophthalmology, neuroscience, immunology, respiratory, cardio-metabolic, and established medicines. The firm sells its products globally, with the United States representing close to one third of total revenue.
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