Novartis AG announced on Friday that its net sales in the fourth quarter of the fiscal year 2024 observed an annual rise of 15% to reach $13.15 billion. The pharmaceutical company's net income increased by 7% compared to the same trimester the year before to hit $2.82 billion, while its operating income jumped by 37% to $3.53 billion. Meanwhile, its earnings per share (EPS) surged 10% year-over-year to land at $1.42. Furthermore, the corporation's free cash flow rose by 70% to $3.63 billion.
For the full year, Novartis' net sales amounted to $50.32 billion, climbing by 11%, while its net income jumped by 39% to $11.94 billion, and EPS surged by 43% to stand at $5.92.
"Looking ahead, we are focused on executing against our pipeline, including 15 submission-enabling readouts over the coming years and more than 30 assets with the potential to drive differentiated growth over the long term," CEO Vas Narasimhan commented.