Novartis Ag
Q2 2023 Earnings Call
Jul 18, 2023, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning and good afternoon, and welcome to the Novartis Q2 2023 results release conference call and live webcast. Please note that during the presentation, all participants will be in a listen-only mode, and the conference is being recorded. [Operator instructions] Please limit yourself to one question and return to the queue for any follow-ups. A recording of the conference call, including the Q&A session, will be available on our website shortly after the call ends.
With that, I would like to hand over to Mr. Samir Shah, global head of investor relations. Please go ahead, sir.
Samir Shah -- Global Head of Investor Relations
Thank you very much, Sharon, and good morning and good afternoon, everybody. I want to begin by thanking you for participating in our webcast and investor call again. Before we actually start, I'm going to read the safe harbor statement. The information presented today contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors.
These may cause actual results to be materially different from any future results, performance, or achievements expressed or implied by such statements. For a description of some of these factors, please refer to the company's Form 20-F and its most recent quarterly results on Form 6-K that respectively were filed with and furnished to the U.S. Securities and Exchange Commission. Just a couple of housekeeping points, as per usual, we'll have one question per analyst when we go to the Q&A session, and you'll have time to go back again and ask a second question.
And the other point is that we aim to finish today at quarter past the hour. So, it's 9:15 East Coast time and 15:15 European time. And with that, I'll hand it off to Vas.
Vas Narasimhan -- Chief Executive Officer
Great, thank you, Samir, and thanks, everyone, for joining today's call. With me today, I also have Harry Kirsch, our CFO. So, let's move straight to Slide 4. And as you saw in our release earlier today, Novartis delivered strong sales growth, excellent margin expansion, and we were able to raise our full year guidance.
Getting into the numbers, our group sales grew at 9% and core op inc up 17%. IM Sales were up 9% and core op inc up 20%, allowing us to drive our IM margin to 39%. And Sandoz sales were up 8% and core op inc up 6%. Harry will go through the guidance in more detail.