Novartis AG (NYSE:NVS) Q3 2024 Earnings Conference Call October 29, 2024 9:00 AM ET
Company Participants
Sloan Simpson - Head of Investor Relations
Vas Narasimhan - Chief Executive Officer
Harry Kirsch - Chief Financial Officer
Conference Call Participants
Richard Vosser - J.P. Morgan
Emily Field - Barclays Capital
Florent Cespedes - Bernstein
Simon Baker - Redburn Atlantic
Graham Parry - Bank of America
Matthew Weston - UBS
James Quigley - Goldman Sachs
Peter Welford - Jefferies
Etzer Darout - BMO Capital Markets
Kerry Holford - Berenberg
Seamus Fernandez - Guggenheim Securities
Rajesh Kumar - HSBC
Steve Scala - TD Cowen
Emmanuel Papadakis - Deutsche Bank
Operator
Good morning and good afternoon, and welcome to the Novartis Q3 2024 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] A recording of the conference call, including the Q&A session, will be available on our Web site shortly after the call ends.
With that, I would like to hand over to Ms. Sloan Simpson, Head of Investor Relations. Please go ahead, madam.
Sloan Simpson
Thank you so much. Good morning and good afternoon, everyone. Thank you for joining our Q3 2024 earnings call.
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.
And with that, I will hand across to Vas.
Vas Narasimhan
Thank you, Sloan, and thanks, everyone, for joining today's webcast. So, we'll dive right in. I have Harry Kirsch on the line with me as well, as always.
So, moving to slide four, you saw this morning that Novartis delivered strong operational performance in quarter three really continuing now what's been two years of very strong operating performance for the company. Sales grew 10%, core operating income was up 20% in constant currency. In the quarter, our core margin went all the way up now to 40.1%.
And we also had important innovation highlights, which we'll talk about a bit more over the course of the call; Kisqali's FDA approval and CHMP positive opinion in hormone receptor positive HER2 negative stage II and III early breast cancer, our Fabhalta accelerated approval in IgA nephropathy, Pluvicto had its filing accepted for the PSMAfore population in metastatic castrate-resistant prostate cancer, and then we're -- expect the Scemblix approval in the coming weeks, we received FDA Priority Review for first-line CML, and lastly and importantly, we had our third guidance raise for the year, raising both our top and bottom line guidance, and Harry will go through that in more detail.