Novartis’s revenue came in at $11.83 billion, down 8.6% year-over-year but still beating estimates by $330 million. Free cash flow was $2.0 billion, a 24% decrease year-over-year.
The company also announced that it plans to propose Giovanni Caforio as Chair of the board at the AGM in 2025. Joerg Reinhardt’s 12-year term as Chair of the board will end as scheduled in 2025, when he will retire and not be available for re-election at the Annual General Meeting.
