Novartis reported a double digit increase in operating profit in 2024 and through higher sales and lower impairments, achieved a profit margin of 28.9% for the year. The goal is to continue this margin expansion during the next 12 months, in addition to raising sales by a mid-to high-single digit percentage, Vas Narasimhan, the company’s chief executive, said in a statement issued on 31 January. Novartis’ 2024 results were the first full-year figures for the company since the spin-out of Sandoz, its generics and biosimilar business in October 2023.
