Financial Results Q1 2019

Financial Results Q1 2019


Hi everyone. A year ago, we started on a journey to create the leading medicines company powered by data science and advanced therapy platforms. A few weeks ago, with the spin of Alcon, we’ve really accelerated that journey and with a strong performance in Quarter 1, 2019, I continue to believe we are well on our way on delivering on that goal to be that leading medicines company. With me today I have some colleagues who are going to share some important updates across our business. Now let’s start with Susanne Schaffert our new Head of Oncology. Susanne you’ve been in your role for about 100 days. What are your first impressions about where we are at Novartis in Oncology? First of all, it really is unbelievable that it is already 100 days and it was a very intense but great experience. I was traveling a lot, meeting a lot of associates, people wanting to understand how things are going. And I have to say I’m really inspired by their dedication and boldness to really reimagine cancer. But I also spoke to patients, customers, other stakeholders and I have to say we cannot rest. There is still so high unmet need in cancer so that we have to keep on going. We had a great quarter, and we are now excited to await the approval of our first class PIK3CA inhibitor for patients with advanced breast cancer with that mutation and I think another very important milestone was the approval of Kymriah in Japan which shows clearly our commitment to bring these medicines to patients around the world and I’m very grateful for the close collaboration with Steffen and his teams and for all the work that NTO is doing to support us in launching Kymriah. Thank you, Susanne. One of the key focus areas for us in Q1 was to secure enhanced access in capacities and capabilities for advanced therapy manufacturing, like for Kymriah. And we just recently announced the acquisition of CellforCure which will help us to further provide more capacity for this important treatment. Besides this, we continue on our program to enhance productivity across the entire network of our sites. And I’m very happy with the progress and the Q1 results also show that our efforts start paying off. Steffen let me add my thanks and support to Technical Operations too, you know we have just closed the deal on adding additional gene therapy manufacturing capacity in Longmont, Colorado. We’ve now upped our game even further in gene therapy manufacturing and added this long-term capacity which I think will really help support the need for gene therapy in children with SMA and other rare diseases. It’s been a really great first quarter again, year over year growth of Entresto and Cosentyx is outstanding. We’ve had Cosentyx approved in China, which is another major breakthrough. We got continued progress with Aimovig, close to 200,000 patients who were struggling who’ve had access in the US alone. And then of course we’ve had Mayzent approved in the first quarter the first medicine studies in secondary progressive MS, a very difficult to treat patient population. We look forward to what can happen with Zolgensma, SMA, our gene therapy. Fingers crossed for an approval just around the corner. This year more than any other year, we’re really focusing on supporting our field teams – medical, commercial, sales. And we’re trying to simplify their roles to make sure that they can focus really on the very best work they do. Picking up on Paul’s last point, you know, I feel like having visited now over 30 countries around the world, I really sense this energy in the organization around the culture change, around really becoming an inspired, curious and unbossed organization. Yes, unboss is particularly powerful in Operations. There are many wonderful examples across the network. What inspired me personally the most over the past few weeks was seeing our team in Torre, this is one of our sites in Italy, who really embraced this unboss culture in a way to simplify the way they are working, taking full ownership and accountability, and as a consequence they delivered amazing results. That’s great. I think Paul, as well great progress on the gender diversity side. Yeah, the movement that you’ve begun here at Novartis and in unboss, getting people to speak up applies everywhere. And a lot of our female leaders are saying, you know, we can’t be what we can’t see, and we want to see more people to aspire to female leaders at executive positions. We know that the diverse teams outperform over the long term, plus, you know, it’s just the right thing to do. And we continue to make commitments as a company we’re committed to gender equity in terms of pay, in terms of getting to 50/50 at our top leadership levels as well over time. We also made, I think, an important step in terms of our approach and on parental leave, right Susanne? I’m particularly excited about it. I believe if we want to have diverse teams, we need to create an inclusive environment and this new policy I think is a great step in that direction. I’m a working mother and my husband and myself we manage a dual career and childcare, and I think it’s so important that we support our associates in these important moments. Yeah, I hope that’s the first of many actions we’ll take to really demonstrate we’re unleashing the power of our people. I hope more than anything you get a sense from these sessions we have an incredible Executive Leadership Team that I am very proud is leading this company. You also get a sense about the momentum right now at Novartis. Our innovation power is really being demonstrated by these firsts that we keep delivering, whether it’s a first in secondary progressive MS. What we hope a first gene therapy, a first PI3 kinase therapy for breast cancer, and more firsts to come. So, we’re off to a great start in Quarter 1. Watch out for what Novartis brings over the course of 2019 and we’ll look forward to keeping you up to date.

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