Shares of Novartis climb 4.8% on raised guidance, better-than-expected results

Shares of a Swiss drugmaker climbed 4.8% on Tuesday after it raised its full-year guidance following better-than-expected first-quarter results. The company stated that net sales were projected to grow by a high single to low double-digit percentage in 2024. Additionally, adjusted operating income was expected to increase by a low double-digit to mid-teens percentage.

Novartis Raises Full-Year Guidance, Shares Soar

Swiss drugmaker Novartis saw a 4.8% surge in shares following better-than-expected first-quarter results, prompting the company to increase its full-year guidance. Novartis predicts a high single to low double-digit percentage growth in net sales for 2024, while adjusted operating income is expected to rise by a low double-digit to mid-teens percentage. The positive outlook has bolstered investor confidence and propelled the stock higher.