Novartis Raises Sales Outlook for Mid-Term, Acquires Kate Therapeutics
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Novartis has raised its sales outlook for the mid-term, expecting a CAGR of 6% from 2023 to 2028, up from the previous 5%. The company has also acquired Kate Therapeutics to enhance its gene therapy portfolio.
November 22, 2024 | 8:00 pm
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Novartis has increased its mid-term sales outlook to a CAGR of 6% and acquired Kate Therapeutics to bolster its gene therapy offerings.
The acquisition of Kate Therapeutics is likely to strengthen Novartis's gene therapy portfolio, which could lead to increased sales and market share. The raised sales outlook indicates confidence in future growth, which is positive for the stock price.
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