Swiss healthcare giant Novartis reports core EPS of $6.47 and core operating income of nearly $16.4 billion for 2023, up 25% and 18% respectively at constant exchange rates (CER).

At over 45.4 billion dollars, net sales were up 10% (again at constant exchange rates), driven mainly by the continued strong performance of Entresto (+31%), Kesimpta (+99%), Kisqali (+75%), Pluvicto (+261%) and Scemblix (+179%).

Novartis proposes a dividend of 3.30 Swiss francs per share for 2023, an increase of 3.1%, and forecasts "mid-single-digit" growth in net sales and "high-single-digit" growth in core operating income for 2024.

In addition, it revises its medium-term forecasts, now expecting net sales to rise by an average annual CCT of 5% over 2023-28, and core operating profit margin to grow by around 40% or more by 2027.

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