Novartis CEO: IRA Impact ‘Manageable’; Midterm Growth Goal Held – FiercePharma

TL/DR –

Novartis CEO, Vas Narasimhan, has stated that the firm expects manageable impact from inflation rate adjustments (IRAs) on its profit margins in the short term. He reiterated the company’s goal to grow its innovative medicines division by mid-single digit percentages each year. To achieve this aim, the firm is planning to offset the effects of IRAs through productivity improvements.

Novartis CEO Deems IRA Impact ‘Manageable’, Upholds Midterm Growth Objective

Novartis CEO recently communicated that the company is well-prepared to navigate the implications of the new IRA policies. He confidently remarked that the influence is ‘manageable’ in the short term, while confidently upholding the company’s midterm growth objective. This assertion came despite the potential challenges that the new tax reforms present to the pharmaceutical industry.

The CEO’s remarks echo the resilience and adaptability of Novartis in dealing with novel regulatory changes. Despite the obstacles, the company stands firm, resiliently maintaining its midterm growth target and exhibiting unwavering commitment to its long-term success.

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