Novartis’s (NVS) Innovative Medicines business, which comprises its Novartis Pharmaceuticals and Novartis Oncology products, reported revenue of $8.4 billion in the first quarter, with operating revenue and foreign exchange contributing 6% growth each. The chart below shows the segment’s revenue since Q1 2017.
Product categories’ performance in Q1
- In the oncology category, the company launched Lutathera. The business unit’s revenue grew 6% YoY (year-over-year) to $3.2 billion, driven by strong Tasigna, Afinitor/Votubia, Sandostatis, Tafinlar, and Mekinist sales.
- Ophthalmology revenue fell 5% YoY to $1.2 billion, offset by foreign exchange. The decline was driven by lower Travoprost and Topical Olopatadine sales and partially offset by strong Lucentis sales.
- Immunology, hepatology, and dermatology revenue rose 37% YoY to $706 million, driven by Cosentyx and Ilaris sales.
- Neuroscience revenue grew 7% YoY to $841 million, driven by strong Gilenya sales.
- Respiratory revenue grew 7% YoY to $433 million, driven by strong Xolair and Ultibro Breezhaler sales.
- Cardio-metabolic products revenue grew ~100% to $204 million, driven by strong sales of Entresto and other products.
- Established product revenue fell 3% YoY to $1.9 billion, driven by lower Neoral/Sandimmune, Voltaren/Cataflam, and other product sales offset by foreign exchange.