1、Novartis Strategy&Growth Update Vas Narasimhan,CEOJ.P.Morgan Healthcare ConferenceJanuary 8,2024DisclaimerNovartis Strategy&Growth Update|January 8,2024This presentation contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995.Forwa

2、rd-looking statements can generally be identified by words such as“potential,”“can,”“will,”“plan,”“may,”“could,”“would,”“expect,”“anticipate,”“seek,”“look forward,”“believe,”“committed,”“investigational,”“pipeline,”“launch,”or similar terms,or by express or implied discussions regarding potential ma

3、rketing approvals,new indications or labeling for the investigational or approved products described in this presentation;or regarding potential future revenues from such products;or regarding our transformation into a pure-play innovative medicines company;or regarding our mid-term sales guidance;o

4、r regarding our focused pipeline;or regarding potential future,pending or announced transactions;or regarding our approximate estimated peak sales,sales potential and other financial information;or regarding our focus on material environmental,social and governance factors that drive value;or regard

5、ing our commitment to operational excellence;or regarding our expanding use of our technology platforms across core therapeutic areas;or by discussions of strategy,plans,expectations or intentions.You should not place undue reliance on these statements.Such forward-looking statements are based on ou

6、r current beliefs and expectations regarding future events,and are subject to significant known and unknown risks and uncertainties.Should one or more of these risks or uncertainties materialize,or should underlying assumptions prove incorrect,actual results may vary materially from those set forth

7、in the forward-looking statements.There can be no guarantee that the investigational or approved products described in this presentation will be submitted or approved for sale or for any additional indications or labeling in any market,or at any particular time.Nor can there be any guarantee that su

8、ch products will be commercially successful in the future,or that any estimated peak sales or other estimated financial figures referenced will be reached.In particular,our expectations regarding such products could be affected by,among other things,the uncertainties inherent in research and develop

9、ment,including clinical trial results and additional analysis of existing clinical data;regulatory actions or delays or government regulation generally;global trends toward health care cost containment,including government,payor and general public pricing and reimbursement pressures and requirements

10、 for increased pricing transparency;our ability to obtain or maintain proprietary intellectual property protection;the particular prescribing preferences of physicians and patients;general political,economic and business conditions,including the effects of and efforts to mitigate pandemic diseases;s

11、afety,quality,data integrity or manufacturing issues;potential or actual data security and data privacy breaches,or disruptions of our information technology systems,and other risks and factors referred to in Novartis AGs current Form 20-F on file with the US Securities and Exchange Commission.Novar

12、tis is providing the information in this presentation as of this date and does not undertake any obligation to update any forward-looking statements contained in this presentation as a result of new information,future events or otherwise.AVROBIO is a registered trademark of AVROBIO,Inc.Voyager Thera

13、peutics is a registered trademark of Voyager Therapeutics,Inc.Bicycle Therapeutics is a registered trademark of BicycletxLimited.Clovis Oncology is a registered trademark of Clovis Oncology,Inc.Ionis is a registered trademark of Ionis Pharmaceutics,Inc.Legend Biotech is a registered trademark of Nan

14、jing Legend Biotech Co.,Ltd.Chong Kun Dang is a registered trademark of Chong Kun Dang Holdings Corp.Isomorphic Labs is a registered trademark of Isomorphic Labs Limited.210 positive Ph3 readouts/presentations in past yearFocused pipeline on 83 projects1in areas of high unmet need15 key submissions

15、planned 2024-27Robust pipelineStrong 2023,raising full year guidance 3 timesUpgraded mid-term sales guidance to+5%CAGR(2022-2027);mid-single-digit beyondIncreasing core margin to 40%+by 2027Attractive growth prospectsFocus on material factors to create value:innovation,access to medicines and human

16、capital#1 in Sustainalytics2;leaders in ATMI(reaching 250m patients);AA in CDP climate and waterESG leaderPure-play innovative medicines with 4 coretherapeutic areas and 2+3 technology platformsSubstantial cash generation;focusing on bolt-on M&A/BD&L,strong and growing dividend,and SBBFocused strate

17、gyNovartis differentiated profile offers an attractive shareholder value creation opportunityNovartis Strategy&Growth Update|January 8,202431.Confirmatory development projects.2.Pharmaceuticals subindustry group.ATMI Access to Medicines Index.SBB Share Buyback.Novartis transformation into a pure-pla

18、y innovative medicines company.Novartis Strategy&Growth Update|January 8,2024SandozSandozSandozInnovativeMedicinesAlconOTCAHVxAlcon55%67%82%2014Pre-portfolio transformation2018Pre-Alcon spin-off2022Pre-Sandoz spin-off2023Focused companyPure-playInnovative MedicinesInnovativeMedicinesInnovativeMedici

19、nes4.has delivered substantial increases in core margin and FCF.Novartis Strategy&Growth Update|January 8,202459M 2014 figures reflecting revised free cash flow definition,2023 figures reflect Continuing Operations.Groupcore margin26.0%36.9%Group FCF(USD)as%of sales6.8bn15.6%11.0bn32.4%9M 2014Pre-po

20、rtfolio transformationSandozInnovativeMedicinesAlconOTCVx9M 2023Focused companyPure-playInnovative MedicinesAHQ1-Q3 2023Q1-Q3 2014Net salesUSDbn,%cc.while continuing to deliver strong operational performance within the single Innovative Medicines division(continuing operations)Novartis Strategy&Grow

21、th Update|January 8,2024Core OpIncUSDbn,%ccCore margin%35.2202192018+7%CAGR2020201935.133.932.430.628.7201820222021+790bps cc10.2220192018+14%CAGRContinuing operations performance,numbers restated post-Sandoz spin-off35.238.139.542.842.210.111.712.814.514.8+5%+7%+4%+12%+10%+12%

22、+13%+20%USDbn6We remain committed to executing our focused strategy.Novartis Strategy&Growth Update|January 8,20244 core Therapeutic areasCardiovascular-Renal-Metabolic,Immunology,Neuroscience,Oncology2+3 technology platformsChemistry,BiotherapeuticsxRNA,Radioligand,Gene&Cell Therapy 4 priority geog

23、raphiesUS,China,Germany,JapanAccelerate growth and deliver returnsDeliver high-value medicines(including launch excellence)Unleash the power ofour peopleScale data scienceand technologyBuild trust with societyDelivering through operational excellenceFocusPrioritiesExecutionStrengthen foundationsDeli

24、ver high-value medicines that alleviate societys greatest disease burdens through technology leadership in R&D and novel access approachesDriving efficiencies and agile resource allocationImproving R&D productivity7.and continuing to create significant shareholder value Novartis Strategy&Growth Upda

25、te|January 8,202481.Core R&D and CAPEX actuals.2.In CHF.Jun 2018Divested consumer health JV Investing in the businessReturning capital to shareholdersSubstantial cash generationConsistently growing annual dividend2USD 42bn of dividends 2018-2023No rebasing post Alcon and Sandoz spin-offShare buyback

26、sUSD 32bn 2018-2023New up-to USD 15bn SBB ongoing since Jul 2023 with just under USD 13bn to be executedWhilst also creating shareholder value via numerous strategic actionsValue-creating bolt-onsUSD 33bn 2018-2023Investments in organic businessR&D USD 45bn,CAPEX USD 5bn2018-Sep 20231Apr 2019Spun Al

27、con Nov 2021Exited Roche stake Oct 2023Spun Sandoz We have signed 15 strategic deals during the last year,totaling 6bn USD,to enhance our pipeline across core therapeutic areas and technology platformsNovartis Strategy&Growth Update|January 8,20249Note:Number of strategic M&A and BD&L transactions a

28、nnounced,value reflecting upfront payments.CRMImmunologyNeuroscienceOncologyxRNAxRNAGenetherapyGenetherapyxRNARLTRLTCelltherapySelect recent examplesExpect to deliver mid-term sales CAGR of+5%and core margin of 40%+,mainly driven by de-risked in-market brands.Novartis Strategy&Growth Update|January

29、8,202410Note:All figures reflecting Continuing Operations.1.For forecasting purposes,we assume Entresto US LoE in 2025.2.Including indication expansion.Leqvio licensed from Alnylam Pharmaceuticals,Inc.Pelacarsen licensed from Ionis Pharmaceuticals,Inc.Illustrative net salescc2022Gx impact1up to 2027

30、In-market growth drivers2/base businessPipelineprobabilized2027+5%CAGR ccMainlyEntrestoTasigna Promacta MainlyFabhaltaremibrutinibatrasentanpelacarsenCore margin35%MainlyKisqali PluvictoKesimpta Leqvio CosentyxScemblix Core margin40%+.which will also be the foundation for mid-single-digit growth bey

31、ond 2027Novartis Strategy&Growth Update|January 8,20242002735.242.2+7%Net salesIllustrative,USD billion,%CAGR cc1remibrutinibpelacarsenatrasentanianalumabzigakibartremibrutinibatrasentanpelacarsenYTB323XXB750JDQ443AAA614(FAPi)2022-2027+5%CAGRmid-single-digit+5%2027mid-single-digitDe-riske

32、d in-market brandsPipeline assets122ianalumab11Note:All figures reflecting Continuing Operations1.Without a one-time revenue deduction adjustment recorded in Q3,sales growth+86%cc.7bnassuming USLoE in 20256+currently marketed brands with multi-billion USD potential.Novartis Strategy&Growth Update|Ja

33、nuary 8,2024Peak sales(approx.)Existing indicationsQ3 salesannualizedQ3 GrowthQ3 2023 sales annualized(selected brands)USDbn,Q3 growth in cc7bn5.3bn+4%5.9bn+31%2.6bn+124%14bn2.2bn+76%1.0bn+217%multi-bn0.4bn+165%multi-bn4bncurrently approved indications(mBC)127bnassuming USLoE in 20257bn4bnmulti-bnmu

34、lti-bn4bncurrently approved indications(mBC).with additional upside from indication expansionNovartis Strategy&Growth Update|January 8,2024Peak sales(approx.)Existing indicationsQ3 salesannualizedQ3 GrowthWith expected exclusivity to 2030 and beyond 5.3bn+4%5.9bn+31%2.6bn+124%12.2bn+76%1.0bn+217%0.4

35、bn+165%Additional sales(approx.)Further indications/LCMAs per aboveN/Amulti-bn3multi-bn4multi-bn2131.Without a one-time revenue deduction adjustment recorded in Q3,sales growth+86%cc.2.Adjuvant,early HR+/HER2-breast cancer.3.Pre-taxane metastatic castration-resistant prostate cancer,metastatic hormo

36、ne-sensitive prostate cancer,Oligometastatic prostate cancer.4.CVRR-LDLC,secondary&primary prevention.SelectexamplesCardiovascular,Renal and MetabolicImmunologyNeuroscienceOncologyDiseaseareas(selected)Heart failure&hypertension Atherosclerosis Rare renal,acute kidney injury Psoriasis,Psoriatic arth

37、ritis Spondylitis/Spondylarthritis HS,CSU,CINDU Sjgrens,SLE,LN Food Allergy Multiple sclerosis Neurodegeneration(Alzheimers,Parkinsons)Neuromuscular(building on Spinal Muscular Atrophy,including ALS)Breast cancer Prostate cancer Lung cancer CML,NHL,MM,AML,MDS PNH,ITP,wAIHAWe have a strong presence a

38、nd expertise in the therapeutic and disease areas we focus on.Novartis Strategy&Growth Update|January 8,202414SelectexamplesCardiovascular,Renal and MetabolicImmunologyNeuroscienceOncologyDiseaseareas(selected)Heart failure&hypertension Atherosclerosis Rare renal,acute kidney injury Psoriasis,Psoria

39、tic arthritis Spondylitis/Spondylarthritis HS,CSU,CINDU Sjgrens,SLE,LN Food Allergy Multiple sclerosis Neurodegeneration(Alzheimers,Parkinsons)Neuromuscular(building on Spinal Muscular Atrophy,including ALS)Breast cancer Prostate cancer Lung cancer CML,NHL,MM,AML,MDS PNH,ITP,wAIHAAnchor brands.suppo

40、rted by anchor brands within each therapeutic area.Novartis Strategy&Growth Update|January 8,202415SelectexamplesCardiovascular,Renal and MetabolicImmunologyNeuroscienceOncologyDiseaseareas(selected)Heart failure&hypertension Atherosclerosis Rare renal,acute kidney injury Psoriasis,Psoriatic arthrit

41、is Spondylitis/Spondylarthritis HS,CSU,CINDU Sjgrens,SLE,LN Food Allergy Multiple sclerosis Neurodegeneration(Alzheimers,Parkinsons)Neuromuscular(building on Spinal Muscular Atrophy,including ALS)Breast cancer Prostate cancer Lung cancer CML,NHL,MM,AML,MDS PNH,ITP,wAIHAAnchor brandsAssets with plann

42、ed submission by 2027(selected)iptacopan,atrasentan,zigakibartIgANCosentyxMultiple indicationsZolgensmaSMA ITKisqaliHR+/HER2-BC(adjuvant)iptacopanC3GremibrutinibCSU,CINDUremibrutinibMultiple sclerosisPluvictomCRPC pre-taxane,mHSPCpelacarsenCVRR-Lp(a)ianalumabSjgrensScemblixCML 1LLeqvioPed Hyperlipid

43、emia,CVRR-LDLCFabhalta(iptacopan)PNH.and a robust pipeline with submissions by 2027Novartis Strategy&Growth Update|January 8,202416Over the past year,we delivered 10 positive Ph3 readouts/presentations1 on assets with significant sales potentialNovartis Strategy&Growth Update|January 8,2024Select ex

44、amplesPelacarsenCVRR readout expected in 2025IanalumabITP 1L and 2L readouts expected in 2025Sjgrens readout expected in 2026OAV-101SMA IT readout expected in 2024ZigakibartIgAN readout expected in 2026Fabhalta(iptacopan)PNH approved by FDA in Q4 2023,filed with EMA in Q2 2023IgAN submission expecte

45、d in 20243C3G submission expected in 2024KisqaliAdjuvant breast cancer,filed with EMA and submitted to FDA in 2023PluvictomCRPC(post-ARDT,pre-taxane),FDA submission expected in 2024mHSPC readout expected in 20252OMPC FPFV upcoming in 2024ScemblixCML-CP 1L submission expected in 2024Remibrutinib CSU

46、submission expected in 2024MS and CINDU readouts expected in 2026LutatheraGEP-NET 1L G3 EU submission expected in 2024AtrasentanIgAN submission expected in 20243171.Kisqali NATALEE,Pluvicto PSMAfore,Fabhalta APPOINT-PNH,iptacopan APPLAUSE-IgAN,iptacopan APPEAR-C3G,atrasentan ALIGN,remibrutinib CSU R

47、EMIX-1 and REMIX-2,Lutathera NETTER-2,Scemblix ASC4FIRST.2.Event-driven trial endpoint 3.US submission for accelerated approval.Unprobabilized estimated peak sales of all asset indications in late-stage development:USD 1bn USD 2bn USD 3bnUnprobabilized estimated peak sales of all asset indications i

48、n late-stage development:USD 3bnKisqali:Ph3 NATALEE study shows robust benefit across broad population of eBC patients,regardless of disease stage,menopausal or nodal statusNovartis Strategy&Growth Update|January 8,2024KisqaliFavorable safetyNo new safety signals3-year regimen of ribociclib 400mg we

49、ll tolerated in eBCIncidence of most frequently observed AEs was stable with additional follow-up,No AESIs or clinically relevant AEs increased 1%Only 0.8%increase in discontinuations in updated analysisRobust efficacyHR95%CIiDFS total population0.75(0.63,0.89)iDFS stage II0.70(0.50,0.99)iDFS stage

50、III0.76(0.62,0.93)iDFS node negative0.72(0.41,1.27)iDFS node positive0.76(0.63,0.91)DDFS0.75(0.62,0.90)OS0.89(0.66,1.20)18Data presented at San Antonio Breast Cancer Symposium,December 2023.Filed with EMA in Q3 2023,and submitted to FDA in Q4 2023Robust efficacyPluvictovs.ARPI armrPFS1HR 0.41(0.29,0

51、.56)Median rPFS212.0 vs.5.6 monthsPSA50 response 57.6%vs.20.4%Time to SSEHR 0.35(0.22,0.57)ORR350.7%vs.14.9%Time to worsening(FACT-P4)HR 0.59(0.47,0.72)Time to worsening(BPI-SF5)HR 0.69(0.56,0.85)Crossover-adjusted OSHR 0.80(0.48,1.33)Unadjusted OS(84%crossover)HR 1.16(0.83,1.64)Favorable safety pro

52、fileVast majority of AEs low-gradeGrade 3-4 AEs:33.9%Pluvictovs.43.1%ARPISAEs:20.3%Pluvictovs.28.0%ARPIAEs leading to discontinuation6:5.7%vs.5.2%AEs leading to dose adjustment6:3.5%vs.15.1%Renal toxicity SAEs6:acute kidney injury 0.9%vs.1.3%;hematuria 0%vs.1.3%Pluvicto:Ph3 PSMAfore study shows robu

53、st efficacy with favorable safety and quality of life compared to daily oral ARPI in pre-taxane mCRPCNovartis Strategy&Growth Update|January 8,202419ARPI androgen receptor pathway inhibitor.1.Primary rPFS analysis based on 166 rPFS events per BICR assessment(or centrally confirmed rPFS events);1-sid

54、ed p-value:USD 3bnFDA submission expected in 2024,with 75%information fraction on OS Overall exposure to Pluvicto2,000 patient-years(including VISION,PSMAfore and post-marketing experience)Fabhalta(iptacopan):Ph3 APPLY and APPOINT studies raise the bar for efficacy and safety in PNHNovartis Strategy

55、&Growth Update|January 8,2024201.During the 24-week core treatment period.APPOINTAdult PNH patients naive tocomplement inhibitor therapyAPPLYAdult PNH patients with residual anemia(Hb USD 3bnStudy designClinically meaningful and statistically significant proteinuria reduction at six-month analysisSa

56、fety profile consistent with previously reported dataData will be discussed with global HAs and presented at an upcoming medical meeting 1 2 isit days odel estimated geometric mean ration to baseline ploto h g mol h geometric meanration to baseline 1 ohort A1 1 1 Primary endpointtransplanted kidney2

57、Iptacopan:Ph3 APPEAR study demonstrates clinically meaningful and statistically significant proteinuria reduction in patients with C3GNovartis Strategy&Growth Update|January 8,202421RoE Roll-over extension.UPCR urine protein creatinine ratio.CI confidence interval.1.ASN 2022 poster.2.Kidney biopsy b

58、aseline Week 12 eposit Score Wong EK,et al.ePoster ASN 2021.3.December 2023.Ph2 showed sustained benefits up to 1 yearPh3 met primary endpoint3IptacopanPrimary endpointnative kidneyBaseline biopsyWeek 12 biopsyC3G submissions expected in 2024Unprobabilized estimated peak sales of all asset indicatio

59、ns in late-stage development:USD 3bnModel estimated geometric mean ratio to baseline(95%CI)plot of 24 h UPCR(g/mol)1Assets2022420252026+CommentsIptacopanPositive clinically meaningful IA1(primary endpoint)AtrasentanPositive clinically meaningful IA1(primary endpoint)ZigakibartUPCR submiss

60、ion-enabling readout expected 2026Ph3-APPLAUSEPh3-ALIGN*Iptacopan and atrasentan submissions expected in 2024,based on proteinuria reduction;studies continue to confirmatory endpoint(eGFR)in 2025Iptacopan and atrasentan:Positive Ph3 readouts demonstrating clinically meaningful proteinuria reduction

61、in IgANNovartis Strategy&Growth Update|January 8,202422UPCR urine protein creatinine ratio.1.October 2023,9 months readout may support US submission for accelerated approval.2.Global,randomized,multicenter,double-blind,placebo-controlled Ph3 comparing safety and efficacy of zigakibart(600mg Q2W)vs.p

62、lacebo in patients(N272)with IgAN at risk of progressive loss of kidney function.Unprobabilized estimated peak sales of all asset indications in late-stage development:Iptacopan USD 3bn USD 1bnAtrasentan USD 1bnZigakibartPh3 BEYOND2US submission for accelerated approval*IgAN portfolioSymptom improve

63、mentas early as week 2%of remibrutinib patientsREMIX-1/REMIX-2Significant symptom improvement as early as week 2 and sustained up to week 12UAS7 233.3/30.0 1/2 of patients had well-controlled disease at week 12UAS7 350.2/47.5 1/3 of patients were free of itch and hives at week 12UAS7=0331.1/27.9p.00

64、1Remibrutinib:Ph3 REMIX-1 and REMIX-2 studies show robust efficacy and significant symptom improvement as early as week 2 in CSUNovartis Strategy&Growth Update|January 8,202423Originally presented at ACAAI annual meeting 2023.Full analysis set imputed data.1.Change from baseline at week 12,treatment

65、 difference in least squares mean remibrutinib vs.placebo.2.Week 2,using a logistic regression model.3.Week 12,using a logistic regression model.Robust efficacyremibrutinib vs.placebo REMIX-1/REMIX-2Improvements in urticaria activity statistically significant UAS71(urticaria)-6.32/-7.86 Improvements

66、 in itch statistically significantISS71(itch)-2.68/-3.32 Improvements in hives statistically significantHSS71(hives)-3.65/-4.55 p USD 3bnRemibrutinibGEP-NET 1L G3 EU submission expected in 2024Lutathera:Ph3 NETTER-2 results highlight the potential for radioligand therapy(RLT)in early GEP NET tumorsN

67、ovartis Strategy&Growth Update|January 8,202424GBM glioblastoma.SCLC small cell lung cancer.NETTER-1:FDA awarded broad label allowing use in GEP NET independent of line or gradeMaximize NET Go Beyond NETPotential to improve SoC in high unmet need diseases SCLCNeuroendocrine origin,like NETHighly sen

68、sitive to radiationGBMIn clinic for ndGBM and rGBMPotential to establish new SoC in combo with EBRT+TMZ(induction)followed by combo with TMZ(maintenance)NETTER-2:New Ph3 study met primary endpoint in 1L G2/G3 GEP NETLutatheraUnprobabilized estimated peak sales of all asset indications in late-stage

69、development:USD 1bnNETTER-1NETTER-2mPFS 28.4 vs.8.5 months;HR 0.18 95%CI:0.14,0.33;P USD 2bnAchievement of MMR(BCR-A L1 1%)is associated with higher rates of EFS,PFS and OS2Population:Newly diagnosed adult patients with CML-CP with no prior TKI End of study5 yearsMMR evaluationSecondary endpoint Wee

70、k 96Primary endpointWeek 48N=405R1:1Scemblix80mg once-dailyinvestigator-selected TKI50%1G TKI:imatinib50%2G TKI:nilotinib or dasatinib or bosutinib Scemblix showed clinically meaningful and statically significant improvements in MMR rate vs.SoC TKIs Favorable safety and tolerability profile withfewe

71、r AEs and treatment discontinuations vs.SoCTKIs and no new safety signals observed Data will be presented at an upcoming medical congress Both primary endpoints1metremibrutinibCSUiptacopanC3GiptacopanIgAN1Expect to deliver 15 key submissions in core therapeutic areas by 20271.US submission for accel

72、erated approval.2.Event-driven trial endpointSelect key assets submission scheduleCore therapeutic areasCRMImmunologyNeuroscienceOncology2025PluvictomHSPC2ZolgensmaSMA ITpelacarsenCVRR-Lp(a)CosentyxGCACosentyxPolymyalgia rheumatica2026-2027ianalumabwAIHAremibrutinibMultiple sclerosiszigakibartigANCo

73、sentyxTendinopathyianalumabSjgrens syndromeianalumab2L ITPianalumab1L ITPNovartis Strategy&Growth Update|January 8,2024262024ScemblixCML 1LatrasentanIgAN1PluvictomCRPC,pre-taxaneLeqvioHyperlipidemia pedremibrutinibCINDUAdvancing three breakthrough technology opportunities that could potentially unlo

74、ck substantial mid-to-long-term growth for NovartisNovartis Strategy&Growth Update|January 8,2024Radioligandtherapies insolid tumorsCAR-T in immunologysiRNA in neuroscience and cardiovascularRLT therapies achieving better efficacy with lower side effects e.g.prostate,neuroendocrinePromising platform

75、 due to more effective patient selection(imaging)and precision targeting tumor cellsSignificant market opportunity with potential in other solid tumors:e.g.lung,breast,GIPromising early data forCD19 CAR-T in SLEPotential cures in a range of refractory B-cell driven autoimmune diseasesPotential in SL

76、E,Sjgrens,severe rheumatoid arthritis,and other neurological diseasesImproving adherencewhilst maintaining efficacy in cardiovascularTechnologies delivering nucleic assets to the brain have shown promising early dataMajor market opportunities in neurodegenerative,neuromuscularand cardiovascular dise

77、ases271.Hernandez,JC,Barba,P,Alberich,ML,et al.(2023)An Open-Label,Multicenter,Ph1/2 Study to Assess Safety,Efficacy and Cellular Kinetics of YTB323(rapcabtagene autoleucel),a Rapidly Manufactured CAR-T Therapy Targeting CD19 on B Cells,for Severe Refractory Systemic Lupus Erythematosus:Preliminary

78、Results;abstract.Arthritis Rheumatol.75(suppl 9).Reaching more patients with innovative medicinesCreating sustainable socialand economic impactBuilding trust with societyValue creationRisk mitigationContinuing to build trust with society,focusing on material environmental,social and governance facto

79、rs that drive value whilst mitigating risksNovartis Strategy&Growth Update|January 8,2024Right thing to doInnovation and access to medicinesHumanCapitalFuture-proof pipeline addressing unmet medical and societal needsBroad access to our medicines,including underserved populationsDedicated Global Hea

80、lth unitDiversity,Equity&InclusionCultureTalentEthicsComplianceHuman rightsEnvironmental SustainabilityEthical StandardsEnablersClimateWaterWasteGovernance,transparency,Non-financial reportingManagement systems&tools2829Novartis Strategy&Growth Update|January 8,202410 positive Ph3 readouts/presentat

81、ions in past yearFocused pipeline on 83 projects1in areas of high unmet need15 key submissions planned 2024-27Robust pipelineStrong 2023,raising full year guidance 3 timesUpgraded mid-term sales guidance to+5%CAGR(2022-2027);mid-single-digit beyondIncreasing core margin to 40%+by 2027Attractive grow

82、th prospectsFocus on material factors to create value:innovation,access to medicines and human capital#1 in Sustainalytics2;leaders in ATMI(reaching 250m patients);AA in CDP climate and waterESG leaderPure-play innovative medicines with 4 coretherapeutic areas and 2+3 technology platformsSubstantial

83、 cash generation;focusing on bolt-on M&A/BD&L,strong and growing dividend,and SBBFocused strategyNovartis differentiated profile offers an attractive shareholder value creation opportunityNovartis Strategy&Growth Update|January 8,2024301.Confirmatory development projects.2.Pharmaceuticals subindustry group.ATMI Access to Medicines Index.SBB Share Buyback.