Novartis delivered strong growth in priority brands and launches in Q1; FY 2026 guidance reaffirmed

Ad hoc announcement pursuant to Art. 53 LR First quarter Net sales declined -5% (cc 1 , -1% USD), as growth drivers were more than offset by US generic erosion Continued strong performance from priority brands including Kisqali (+55% cc), Pluvicto (+70% cc), Kesimpta (+26% cc), Scemblix (+79% cc) and Leqvio (+69% cc) Core operating income 1 down -14% (cc, -12% USD), due to lower net sales and higher R&D investment Core operating income margin1 was 37.3% Operating income declined -11% (cc, -9% USD); net income down -13% (cc, -13% USD) Core EPS 1 declined -15% (cc, -13% USD) to USD 1.99 Free cash flow 1 was USD 3.3 billion, broadly in line with the prior-year quarter Q1 selected innovation milestones: Remibrutinib positive CHMP opinion for CSU, positive Phase III readout in CIndU and Phase II data in food allergy Ianalumab FDA Breakthrough Therapy designation and priority review in SjD Cosentyx FDA approval for pediatric HS patients, regulatory submissions for PMR Fabhalta positive Phase III eGFR results in IgAN, FDA priority review for traditional approval Completed acquisition of Avidity, adding three late-stage medicines addressing neuromuscular disease Full year 2026 guidance 2 reaffirmed Net sales expected to grow low single-digit and core operating income expected to decline low single-digit Basel, April 28, 2026 – Commenting on Q1 2026 results, Vas Narasimhan, CEO of Novartis, said: “Novartis delivered a strong start to 2026 across our priority brands and launches, while US generic erosion weighed on results in Q1 as expected.