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

Signage for Novartis AG at a building in the company’s headquarters campus in Basel, Switzerland, on Monday, Jan. 8, 2023. 

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Shares of Swiss drugmaker Novartis climbed 4.8% in early deals on Tuesday, after the company raised its full-year guidance following better-than-expected first-quarter results.

The company said 2024 net sales are now anticipated to pick up by a high-single to low double-digit percentage, up from a previous outlook of mid-single-digit growth.

The drugmaker has also revised its expectations for core operating income, now set to expand by a low double-digit to mid-teens percentage, up from the high single-digit growth forecast prior.

This breaking news story is being updated.

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