Novartis Raised FY23 Outlook: Expects Innovative Medicines Sales To Grow High Single Digit (Prior View Mid-Single Digit Growth); Core Operating Income To Grow Low Double Digit To Mid-Teens (From High Single To Low Double)
Portfolio Pulse from Benzinga Newsdesk
Novartis has raised its FY23 outlook, expecting its Innovative Medicines sales to grow in the high single digits, up from the previous mid-single digit growth forecast. The company also anticipates its core operating income to grow in the low double digits to mid-teens, an increase from the previous high single to low double digit growth prediction. This revised outlook is due to strong H1 momentum.
July 18, 2023 | 6:11 am
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POSITIVE IMPACT
Novartis has raised its FY23 outlook, which could positively impact its stock price. The company expects higher growth in both its Innovative Medicines sales and core operating income.
Novartis' raised FY23 outlook indicates strong performance and growth expectations. This positive news is likely to boost investor confidence and could lead to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100