Novartis Kept at Buy as BofA Notes Q2 Beat, Busy Catalyst Path Ahead

07:52 AM EDT, 07/21/2026 (MT Newswires) -- Novartis (NOVN.SW) delivered better-than-expected sales in the three months ended June 30, with BofA Global Research highlighting the Swiss pharmaceutical major's unchanged full-year 2026 guidance and growth trajectory in the second half. The company reported a 3% annual growth in sales to $14.4 billion for the second quarter, 3% ahead of consensus, according to a Tuesday note. Core EPS was flat year over year but came in 12% higher than market forecasts. The research firm identified five upcoming readouts as key catalysts in the second half, including phase 3 data for remibrutinib in multiple sclerosis and hidradenitis suppurativa. "On newsflow: Del-brax FSHD - unchanged on plan to engage global authorities on positive PI/II data in 2H26 with case submission with PIII in 28E. 2H busy catalyst path confirmed (Pela, Remi MS, Del-des DM1, Remi HS)," analysts said, maintaining the buy rating on the stock, with a price objective of 140 francs. "While long-standing overhang for investors has been substantial [loss of exclusivity] cliffs to the end of the decade, NOVN sits above our regression analysis as we predict mid- to late-stage pipeline shifting balance of new product launches vs key off-patent exposure," BofA added.