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Stock impact report

Novartis targets 5%-6% annual sales growth until 2030 on key cancer drugs [CNBC]

Avidity Biosciences, Inc. (RNA) 
Company Research Source: CNBC
peak-revenue prospects for its cancer drugs Kisqali and Scemblix to offset losses from expiring patents. In a statement ahead of an investor event, the company lifted the peak sales forecast for Kisqali, used to treat a common type of breast cancer, to at least $10 billion from a previous estimate of $8 billion. For leukaemia drug Scemblix, Novartis now expects peak sales of at least $4 billion, up from at least $3 billion. The company said its eight most promising approved drugs each carry peak-sales potential of $3 billion to $10 billion. Last month, it moved to acquire Avidity Biosciences in a $12 billion deal to add muscle-disorder treatment candidates, part of a broader push to offset declining sales of established products, including its heart-failure drug Entresto. The company has said the planned acquisition would lift its projected annual sales growth for 2024–2029 to 6%, up from the previously expected 5%. The pharma major said on Thursday it is targeting a core Show less Read more
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