Novartis Q1 EPS Misses, Sales Down 1%

Novartis reported Q1 2026 core earnings per share of $1.99, below Bloomberg estimate $2.10 and prior year $2.28.
Net sales fell 1% YoY to $13.11 billion, citing U.S. generic erosion and higher R&D expenses as primary headwinds.
CEO Vas Narasimhan noted generics pressure as expected, highlighted pipeline momentum and potential to raise mid‑to‑long‑term outlook after H2 test results.
Company kept annual guidance of low single‑digit net‑sales growth and low single‑digit decline in core operating income.