Novartis AG reported Q2 FY23 sales of $13.62 billion, up 7% Y/Y and 9% on constant currency, beating the consensus of $13.17 billion. The company also announced a $15 billion share buyback program to be completed by 2025 and plans to spin off its generics division, Sandoz. Novartis has raised its revenue forecast for 2023 to high single digits, up from mid, with core operating income set to grow in the low double digits.