Novartis AG (NVS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los productos farmacéuticos globales, Novartis AG es un faro de innovación, transformando la atención médica a través de su intrincado y estratégico modelo de negocio. Al tejer meticulosamente la investigación de vanguardia, las asociaciones estratégicas y un compromiso implacable con las soluciones centradas en el paciente, Novartis se ha convertido en una potencia que trasciende los límites farmacéuticos tradicionales. Esta exploración de su lienzo de modelo de negocio revela un complejo ecosistema de excelencia científica, destreza tecnológica e impacto global, ofreciendo una visión convincente de cómo una empresa está revolucionando los tratamientos médicos y la accesibilidad a escala internacional.

Novartis AG (NVS) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con instituciones de investigación académica

Novartis ha establecido asociaciones de investigación estratégica con las siguientes instituciones académicas:

Institución	Enfoque de investigación	Año de asociación
Escuela de Medicina de Harvard	Investigación oncológica	2022
MIT	Tecnologías de salud digital	2023
Universidad de Stanford	Desarrollo de fármacos de neurociencia	2022

Colaboración con compañías globales de productos farmacéuticos y de biotecnología

Novartis mantiene colaboraciones estratégicas con las siguientes compañías farmacéuticas:

• AstraZeneca - Investigación de enfermedades cardiovasculares
• Pfizer - Desarrollo de fármacos oncológicos
• Johnson & Johnson - Investigación de inmunología

Asociaciones con empresas de tecnología de salud

Las asociaciones tecnológicas incluyen:

Empresa de tecnología	Enfoque tecnológico	Inversión en asociación
Salud de Google	Diagnósticos impulsados ​​por la IA	$ 75 millones
IBM Watson	Análisis de medicina de precisión	$ 120 millones

Empresas conjuntas en mercados farmacéuticos emergentes

Novartis ha establecido empresas conjuntas en:

• China - Fabricación farmacéutica
• India - Producción genérica de drogas
• Brasil - Infraestructura de investigación clínica

Acuerdos de licencia con innovadoras empresas de biotecnología

Los acuerdos de licencia actuales incluyen:

Startup de biotecnología	Área tecnológica	Valor de licencia
Biontech	Terapéutica de ARNm	$ 250 millones
Moderna	Tecnologías de vacuna	$ 180 millones

Novartis AG (NVS) - Modelo de negocio: actividades clave

Investigación y desarrollo farmacéutico

Novartis invirtió $ 9.1 mil millones en investigación y desarrollo en 2022. La compañía mantiene 15 centros de investigación principales a nivel mundial, con ubicaciones clave en Basilea, Suiza, Cambridge, EE. UU. Y Shanghai, China.

I + D Métrica	Valor 2022
Gastos totales de I + D	$ 9.1 mil millones
Número de centros de investigación	15
Programas de investigación activos	138

Ensayos clínicos y pruebas de drogas

Novartis realizó 474 ensayos clínicos en 2022, abarcando múltiples áreas terapéuticas.

• Pruebas de oncología: 156
• Ensayos de neurociencia: 87
• Pruebas cardio-metabólicas: 65
• Pruebas de inmunología: 52

Fabricación de medicamentos recetados

Novartis opera 54 instalaciones de fabricación en todo el mundo, produciendo más de 50 mil millones de dosis anuales.

Métrico de fabricación	Valor 2022
Instalaciones de fabricación totales	54
Dosis anuales de medicamentos	50 mil millones
Países con sitios de fabricación	28

Marketing y distribución global de productos de atención médica

Novartis distribuye productos en más de 180 países, con ventas de $ 51.6 mil millones en 2022.

Métrico de marketing	Valor 2022
Total de los países de operación	180+
Ventas totales	$ 51.6 mil millones
Representantes de ventas	48,700

Innovación continua en tratamientos médicos

Novartis mantiene 138 programas de investigación activos en múltiples dominios terapéuticos.

• Terapias genéticas: 22 programas
• Iniciativas de medicina de precisión: 35 programas
• Innovaciones de salud digital: 16 programas
• Plataformas terapéuticas avanzadas: 65 programas

Novartis AG (NVS) - Modelo de negocio: recursos clave

Extensas instalaciones de investigación y desarrollo

Novartis opera 14 centros de investigación globales en 9 países, con un gasto total de I + D de $ 9.2 mil millones en 2022. Los lugares de investigación primarios incluyen:

Ubicación	Enfoque de investigación	Inversión
Basilea, Suiza	Investigación farmacéutica	$ 2.7 mil millones
Cambridge, EE. UU.	Investigación genómica	$ 1.5 mil millones
Shanghai, China	Investigación de mercados emergentes	$ 650 millones

Fuerza laboral científica y médica altamente calificada

Composición de la fuerza laboral a partir de 2022:

• Total de empleados: 108,000
• Titulares de doctorado: 22,500
• Científicos de investigación: 15,300
• Experiencia de investigación promedio: 12.4 años

Cartera de propiedad intelectual robusta

Estadísticas de patente e IP:

Categoría	Número	Valor
Patentes activas	5,600	$ 35.6 mil millones
Presentaciones de patentes anuales	780	$ 1.2 mil millones

Infraestructura tecnológica avanzada

Detalles de la inversión tecnológica:

• Presupuesto de transformación digital: $ 1.8 mil millones
• IA y inversiones de aprendizaje automático: $ 620 millones
• Infraestructura de computación en la nube: $ 450 millones
• Inversiones de ciberseguridad: $ 340 millones

Capital financiero significativo para la inversión

Recursos financieros overview:

Métrica financiera	Cantidad
Activos totales	$ 134.8 mil millones
Equivalentes de efectivo y efectivo	$ 22.3 mil millones
Inversión anual de I + D	$ 9.2 mil millones
Gasto de capital	$ 4.6 mil millones

Novartis AG (NVS) - Modelo de negocio: propuestas de valor

Soluciones médicas innovadoras para enfermedades complejas

Novartis invirtió $ 9.1 mil millones en investigación y desarrollo en 2022. Las áreas innovadoras clave incluyen:

• Investigación de oncología con 22 nuevas terapias potenciales en el desarrollo clínico
• Portafolio de neurociencia dirigida a 6 áreas principales de enfermedades
• Programas de terapia génica con 15 ensayos clínicos activos

Área terapéutica	Inversión de investigación	Ensayos clínicos activos
Oncología	$ 3.2 mil millones	22
Neurociencia	$ 1.5 mil millones	15
Cardiovascular	$ 800 millones	10

Productos farmacéuticos y de atención médica de alta calidad

Novartis generó ventas farmacéuticas de $ 48.7 mil millones en 2022, con cartera de productos en múltiples segmentos terapéuticos.

• Comercializó 25 medicamentos innovadores clave
• Mantuvo el 94% de la calidad del cumplimiento de la calidad del producto
• Recibió 15 nuevas aprobaciones de drogas en 2022

Medicina personalizada y terapias dirigidas

Las inversiones en medicina de precisión totalizaron $ 2.3 mil millones en 2022, centrándose en tratamientos dirigidos genómicos y moleculares.

Categoría de medicina de precisión	Inversión	Candidatos de tuberías
Terapias genómicas	$ 1.1 mil millones	8
Tratamientos dirigidos moleculares	$ 1.2 mil millones	12

Compromiso para mejorar los resultados del paciente

Iniciativas centradas en el paciente respaldadas por una inversión anual de $ 500 millones en programas de apoyo al paciente.

• Implementó 37 programas de asistencia al paciente a nivel mundial
• Proporcionó acceso a 120 países
• Tratamiento apoyado para 15 millones de pacientes anualmente

Accesibilidad y asequibilidad mundiales de atención médica

Estrategia de accesibilidad con $ 750 millones dedicados a las soluciones de salud de los mercados emergentes.

Región	Penetración del mercado	Programas de medicina asequible
Mercados emergentes	42 países	18 programas
Países de bajos ingresos	23 países	12 programas

Novartis AG (NVS) - Modelo de negocios: relaciones con los clientes

Compromiso directo con profesionales de la salud

Novartis mantiene más de 33,000 representantes de ventas directas a nivel mundial en 2024. La compañía invierte $ 1.4 mil millones anuales en estrategias de participación profesional directa de atención médica.

Canal de compromiso	Volumen de interacción anual
Interacciones de la conferencia médica	87,500 compromisos profesionales directos
Plataformas profesionales digitales	215,000 profesionales de la salud registrados
Participación del simposio científico	124 eventos internacionales anualmente

Programas de apoyo y educación del paciente

Novartis opera 42 programas de apoyo al paciente en 89 países en 2024.

• Programas de asistencia al paciente que cubren 1,2 millones de pacientes en todo el mundo
• $ 380 millones de inversiones anuales en iniciativas de educación para pacientes
• Plataformas de soporte de pacientes digitales que atienden a 475,000 usuarios activos

Plataformas de salud digitales y herramientas de gestión de pacientes

Novartis ha desarrollado 17 plataformas de gestión de salud digital patentadas en 2024.

Plataforma digital	Base de usuarios
Portal de pacientes de Mynovartis	523,000 usuarios registrados
Aplicaciones de seguimiento del tratamiento	287,000 usuarios mensuales activos

Servicios de consulta médica personalizada

Novartis proporciona Servicios de consulta de telemedicina especializados con 12.500 profesionales médicos dedicados.

• Duración de consulta promedio: 35 minutos
• Plataformas de consulta virtual disponibles en 64 países
• Inversión anual de $ 275 millones en infraestructura de consulta personalizada

Comunicación de investigación médica continua

Novartis publica 287 publicaciones de investigación revisadas por pares anualmente.

Investigación del canal de comunicación	Alcance anual
Publicaciones de la revista científica	287 publicaciones
Presentaciones de conferencias de investigación	156 presentaciones internacionales
Plataformas de investigación en línea	412,000 investigadores registrados

Novartis AG (NVS) - Modelo de negocios: canales

Fuerza de ventas directa a proveedores de atención médica

Novartis emplea a 54,261 representantes de ventas a nivel mundial a partir de 2023, con un equipo de ventas farmacéutico dedicado que cubre 180 países.

Región	Representantes de ventas	Cobertura del mercado
Estados Unidos	12,435	65% de los proveedores de atención médica
Europa	16,782	58% de los proveedores de atención médica
Asia-Pacífico	15,643	52% de los proveedores de atención médica

Plataformas farmacéuticas en línea

Novartis Digital Platform generó $ 2.3 mil millones en ventas farmacéuticas en línea en 2023, lo que representa el 8.7% de los ingresos farmacéuticos totales.

• Plataforma digital de Mynovartis
• Sistema de gestión de recetas en línea
• Programas de soporte de pacientes digitales

Conferencias médicas y simposios científicos

Novartis participó en 287 conferencias médicas internacionales en 2023, con una inversión de $ 124 millones en compromiso de conferencias y simposios.

Redes de distribución farmacéutica

Canal de distribución	Ingresos anuales	Cuota de mercado
Distribuidores al por mayor	$ 18.5 mil millones	42%
Ventas directas del hospital	$ 12.7 mil millones	29%
Redes de farmacia	$ 9.3 mil millones	21%

Mercadeo digital y canales de telemedicina

Novartis invirtió $ 347 millones en marketing digital y iniciativas de telemedicina en 2023, que cubren 42 países.

• Plataformas de consulta de telesalud
• Herramientas de compromiso del paciente digital
• Programas de educación médica virtual

Novartis AG (NVS) - Modelo de negocios: segmentos de clientes

Instituciones y hospitales de atención médica

Novartis atiende a aproximadamente 185,000 instalaciones de atención médica en todo el mundo en 2024. Ingresos anuales del segmento del hospital: $ 22.6 mil millones.

Tipo de hospital	Penetración del mercado	Volumen de compra anual
Grandes centros médicos académicos	68%	$ 8.4 mil millones
Hospitales regionales	52%	$ 6.9 mil millones
Hospitales comunitarios	41%	$ 4.3 mil millones

Pacientes individuales con afecciones crónicas

Base total del paciente: 87 millones de pacientes con enfermedad crónica en todo el mundo en 2024.

• Pacientes cardiovasculares: 42 millones
• Pacientes en oncología: 23 millones
• Pacientes de neurociencia: 12 millones
• Pacientes de inmunología: 10 millones

Profesionales médicos y especialistas

Alcance global: 1.2 millones de profesionales de la salud comprometidos.

Categoría especialista	Número de profesionales	Tasa de compromiso
Oncólogos	320,000	76%
Cardiólogos	280,000	68%
Neurólogos	210,000	55%

Distribuidores farmacéuticos

Red de distribución global: 742 socios de distribución farmacéutica.

Región	Número de distribuidores	Volumen de distribución anual
América del norte	186	$ 15.3 mil millones
Europa	276	$ 12.7 mil millones
Asia-Pacífico	180	$ 9.6 mil millones

Sistemas de atención médica del gobierno

Contratos activos con 62 sistemas nacionales de salud.

• Servicios de salud nacionales comprometidos: 62
• Ingresos totales del segmento de salud gubernamental: $ 18.5 mil millones
• Contratos de adquisición: 214 acuerdos activos

Novartis AG (NVS) - Modelo de negocio: Estructura de costos

Extensos gastos de investigación y desarrollo

Novartis AG invirtió $ 9.1 mil millones en gastos de investigación y desarrollo en 2022. El gasto de I + D de la compañía representó aproximadamente el 19.2% de sus ventas netas totales.

Año	Gastos de I + D	Porcentaje de ventas netas
2022	$ 9.1 mil millones	19.2%
2021	$ 8.7 mil millones	18.9%

Costos de fabricación y producción

Novartis informó un costo total de bienes vendidos de $ 24.6 mil millones en 2022, lo que representa aproximadamente el 51.8% de las ventas netas.

• Instalaciones de fabricación global: 80 sitios de producción
• Costo promedio de producción por unidad farmacéutica: $ 12.50
• Gastos generales anuales de fabricación: $ 3.2 mil millones

Gastos globales de marketing y ventas

Los gastos de marketing y ventas para Novartis totalizaron $ 16.5 mil millones en 2022, lo que representa el 34.8% de las ventas netas.

Región	Gastos de marketing	Porcentaje del presupuesto total de marketing
Estados Unidos	$ 6.3 mil millones	38.2%
Europa	$ 5.2 mil millones	31.5%
Otras regiones	$ 5.0 mil millones	30.3%

Inversiones de cumplimiento regulatorio

Novartis asignó $ 1.5 mil millones para el cumplimiento regulatorio y la garantía de calidad en 2022.

• Personal de cumplimiento: 1.200 profesionales
• Gestión de la documentación regulatoria: $ 350 millones
• Sistemas de control de calidad: $ 450 millones

Inversiones clínicas de ensayos y pruebas

Los gastos de ensayo clínico para Novartis alcanzaron los $ 2.8 mil millones en 2022, con inversiones en curso en múltiples áreas terapéuticas.

Área terapéutica	Gastos de ensayo clínico	Número de pruebas activas
Oncología	$ 1.2 mil millones	85
Neurociencia	$ 650 millones	45
Cardiovascular	$ 500 millones	35
Otras áreas	$ 450 millones	40

Novartis AG (NVS) - Modelo de negocios: flujos de ingresos

Venta de medicamentos recetados

En 2022, Novartis reportó ventas netas totales de $ 51.6 mil millones. Las ventas de la división farmacéutica alcanzaron los $ 40.5 mil millones, representando el mayor segmento de ingresos.

Área terapéutica	Ingresos (2022)
Oncología	$ 18.4 mil millones
Neurociencia	$ 6.2 mil millones
Cardiovascular	$ 4.7 mil millones

Licencias de drogas patentadas

Novartis generó aproximadamente $ 3.8 mil millones a partir de los acuerdos de propiedad intelectual y licencias en 2022.

• Asociaciones clave de licencias de patentes con 12 compañías farmacéuticas importantes
• Crecimiento promedio de ingresos por licencias de 7.2% anualmente

Contribuciones genéricas del mercado de drogas

Sandoz Division, segmento de genéricos de Novartis, generó $ 10.5 mil millones en 2022.

Región	Venta de drogas genéricas
América del norte	$ 4.3 mil millones
Europa	$ 3.9 mil millones
Mercados internacionales	$ 2.3 mil millones

Soluciones de tecnología de atención médica

Digital Health and Technology Solutions contribuyó con $ 1.2 mil millones a los ingresos de Novartis en 2022.

Presencia del mercado farmacéutico global

Novartis opera en más de 180 países, con un desglose de ingresos geográficos de la siguiente manera:

Región	Contribución de ingresos
Estados Unidos	$ 22.4 mil millones
Europa	$ 15.6 mil millones
Mercados internacionales	$ 13.6 mil millones

Novartis AG (NVS) - Canvas Business Model: Value Propositions

Novartis AG offers value through a focused portfolio of innovative medicines, centered on delivering transformative treatments across specific, high-need therapeutic areas.

The company's strategic focus is anchored in four core therapeutic areas, which drive the development and commercialization of its most promising assets.

Core Area	Key Growth Driver Example	Latest Reported Sales/Growth Metric
Oncology	Kisqali	Q2 2025 sales growth of +64% cc
Immunology	Cosentyx	Peak sales guidance of over $8 billion
Cardiovascular, Renal and Metabolism (CRM)	Entresto	Q2 2025 sales of $2.4 billion
Neuroscience	Kesimpta	Q2 2025 sales growth of +33% cc

For high unmet needs, Novartis delivers first-in-class therapies, particularly within its radioligand therapy (RLT) platform for Oncology and new approvals in rare diseases.

• Pluvicto, the PSMA-targeted RLT, achieved Q2 2025 sales of $454 million, showing 22% growth over Q1 2025.
• The FDA approval for Pluvicto in the pre-taxane setting in March 2025 expanded its eligible patient population, with peak sales projected above $5 billion.
• Fabhalta (iptacopan) achieved key regulatory milestones in Q1 2025, receiving FDA, EC, and China NMPA approvals for C3G.
• Scemblix, another Oncology asset, showed sales growth of +79% cc in Q2 2025, with peak sales guidance raised to over $4 billion.

The value proposition extends to offering extended and improved lives for patients managing chronic and rare diseases, evidenced by the rapid adoption of newer assets.

The growth of the CRM portfolio, despite patent expirations for Entresto (which lost market exclusivity mid-2025), is supported by assets like Leqvio, which posted +61% cc sales growth in Q2 2025.

Economic value is demonstrated to payers through robust operational performance and high-margin delivery, reflecting the clinical efficacy of the portfolio.

For the first half of 2025, Novartis reported net sales of $27.3 billion, with a core operating income margin of 42.1%. The company's full-year 2025 guidance includes a core margin target of 40%+.

Supply chain reliability is a critical value component for complex, short-shelf-life therapies like RLT, where timely delivery is essential due to the short radioactive half-life of the isotopes.

Novartis is actively fortifying this supply chain through significant capital investment and physical expansion.

• Novartis announced a planned $23 billion investment in US infrastructure up to 2030.
• In November 2025, the company opened its third US-based RLT manufacturing facility in Carlsbad, California.
• The combined sales of Pluvicto and Lutathera reached $2 billion between them over the first nine months of 2025.
• The company plans to establish two more RLT manufacturing sites in Texas and Florida, alongside expanding existing facilities.

This vertical integration, from isotope sourcing to dosing, is designed to ensure the consistent delivery of these time-sensitive medicines.

Novartis AG (NVS) - Canvas Business Model: Customer Relationships

You're looking at how Novartis AG connects with the people who prescribe, dispense, and ultimately use their innovative medicines as of late 2025. It's definitely a shift from the old days of just sales reps knocking on doors.

Dedicated personal selling and scientific exchange with Healthcare Professionals (HCPs)

The traditional sales force interaction is clearly evolving. In 2025, the average physician gets over 1.4 pharmaceutical touchpoints per working hour, but honestly, only about half of those reps remain fully accessible to them. This pressure means every interaction has to count, blending personal scientific exchange with digital efficiency. Novartis is focusing its commercial execution on key growth drivers like Kisqali, Cosentyx, and Leqvio, which requires precise targeting of the right HCPs. 76 percent of pharma marketers are prioritizing clinician social engagement, showing where the scientific conversation is moving.

The digital front line gives us a real-time pulse on this relationship. Between January and June 2025, an average of nearly 300 healthcare professionals (HCPs) were talking about Novartis online each month, with a peak of over 700+ posts in May and June following FDA approvals. Still, the sentiment is often neutral, leaning more toward curiosity or caution than enthusiasm, so capturing attention isn't the same as building deep trust.

Hybrid engagement model leveraging AI-driven insights for tailored content

Novartis is actively integrating data science and technology across its operations to enhance engagement with HCPs and patients. This hybrid approach uses AI-driven insights to tailor content, moving away from one-size-fits-all materials. For instance, HCPs are increasingly drawn to personalized, on-demand updates, like tools that summarize trial data or visualize mechanisms of action in 3D formats, which helps reduce their cognitive load. This focus on data-driven personalization is a core part of their strategy to accelerate growth.

Here's a quick look at the digital interaction landscape:

Metric	Value/Finding (Late 2025)
Average Monthly HCP Mentions of Novartis (Jan-Jun 2025)	Nearly 300
Peak Monthly HCP Mentions (May/Jun 2025)	Over 700+ posts
HCPs Fully Accessible to Reps (2025 Estimate)	Only 50 percent
Pharma Marketers Prioritizing Clinician Social Engagement (2025)	76 percent

The challenge, as seen in September 2025 FDA reprimands regarding digital materials for Entresto, is ensuring that this tailored digital content maintains compliance and sufficient evidence for any superiority claims made.

Patient support programs to navigate access, reimbursement, and adherence

For high-value, innovative medicines, patient access and adherence are critical relationship components. Novartis has a comprehensive program called Novartis Patient Support designed to help patients start, stay, and save on treatment. For their new SMA therapy, Itvisma, eligible individuals may pay as little as $0 out-of-pocket, despite a wholesale acquisition cost of $2.59 million. This is part of a broader strategy to implement a global access strategy for all new medicines launched.

The Novartis Patient Assistance Foundation (NPAF), an independent non-profit, provides certain Novartis medications free of cost to eligible patients who are uninsured or have government insurance and meet income guidelines. For 2025 policy changes, the income guideline for Medicare/Medicaid/Uninsured patients was set at less than or equal to $81,760 for a household size of two. The global Patient Support Programs (PSP) market itself is estimated at USD 22.70 Bn in 2025, showing the industry-wide focus on this area.

• Medication Adherence Support is projected to hold the largest PSP service share at 22.6 percent in 2025.
• Oncology is the dominant therapeutic area for PSPs, holding a 32.1 percent share in 2025.
• Novartis specifically runs the "Support for Me" programme for heart failure patients.

Co-creation with health systems to integrate innovative therapies into care pathways

As a pure-play innovative medicines company, Novartis's relationship with health systems focuses on integrating these advanced therapies into established care pathways. This is supported by a strategic focus on launch excellence and ensuring market access in priority geographies like the US, China, Germany, and Japan. The company is also making substantial domestic investments, announcing a planned investment of $23 billion over five years (starting April 2025) to bolster US manufacturing, which directly impacts supply chain reliability for health systems.

The company's success in driving adoption for key brands reflects this integration effort:

• Leqvio, a cholesterol-lowering therapy, saw an 83 percent sales increase in Q4 2024, supported by its July 2025 FDA approval for first-line monotherapy use.
• Kisqali, a breast cancer treatment, saw a significant 52 percent year-over-year increase in Q4 2024, reaching sales of $902 million.

Direct-to-consumer (DTC) advertising for disease awareness and brand building

Direct-to-consumer advertising remains a significant, though scrutinized, part of the relationship-building effort in the US, one of only two countries allowing prescription drug DTC advertising. The global DTC pharma ad market is expected to be approximately $10 billion in 2025. Novartis was a major driver of the surge in TV ad spending, which rose 30 percent in Q1 2025 compared to the same period last year.

Specifically for its products:

• In January 2025, Novartis's Pluvicto ad spending took the top spot with more than $47 million spent on just one commercial.
• In Q3 2025, US spending on prescription drug TV ads hit $1.25 billion.

However, this channel faces regulatory headwinds; in September 2025, the FDA reprimanded Novartis for digital materials promoting Entresto, stating the digital banners made superiority claims over ACE inhibitors without sufficient evidence. This signals that the relationship with consumers must be balanced with strict regulatory adherence.

Novartis AG (NVS) - Canvas Business Model: Channels

You're looking at how Novartis AG gets its innovative medicines from the lab bench to the patient's bedside in late 2025. It's a complex, multi-pronged approach, especially given their focus on high-value, specialized treatments.

The foundation of reaching specialists and hospital systems globally rests on their direct sales force. While I don't have the exact headcount for late 2025, this force is strategically deployed across their 4 priority geographies: the US, China, Germany, and Japan. Remember, Novartis medicines reach nearly 300 million people worldwide, so the scale of this direct engagement is massive.

For their Radioligand Therapies (RLT), the channel is intensely specialized due to the short half-life of the isotopes. Novartis is building out a dedicated, resilient supply chain, now boasting 3 RLT manufacturing facilities in the US (including the new Carlsbad site). Internationally, they operate facilities in Ivrea, Italy, and Zaragoza, Spain, with construction underway in China and plans for Japan. This infrastructure is designed to maintain an on-time delivery rate of >99.9% to patients across the western US, Alaska, and Hawaii for these critical treatments. This specialized logistics network supports the centers treating patients with products like Pluvicto and Lutathera.

Distribution for the broader portfolio, including their 8 in-market assets projected for over USD 3 billion in peak sales each, relies heavily on established partners. Novartis uses a large network of specialty pharmacies and authorized distributors, such as the example you mentioned, AmerisourceBergen, to manage the complex dispensing and reimbursement requirements for specialty drugs.

To support these specialized channels, Novartis heavily employs digital outreach. They use digital platforms to push HCP education and scientific content, which is vital for driving adoption of new indications, like the expanded use for Pluvicto approved in March 2025.

Finally, for certain therapies, Novartis incorporates Direct-to-Patient (DTP) services. This channel is crucial where at-home administration or specific patient support services are required to ensure adherence and successful treatment completion, especially for newer modalities like gene and cell therapies.

Here's a quick look at the scale and focus points for these channels:

Channel Component	Metric/Data Point	Context/Value
Global Reach	Nearly 300 million people reached	Total patient base for all Novartis medicines
Direct Sales Focus	4 Priority Geographies	US, China, Germany, Japan
RLT Supply Chain Resilience	>99.9% On-Time Delivery Rate	Targeted rate for Western US RLT patients from new Carlsbad site
RLT Manufacturing Footprint (US)	3 RLT Manufacturing Sites	Including facilities in Carlsbad, and expansion in Indianapolis
Specialty Drug Portfolio Size	8 De-risked, in-market assets	Each with peak sales potential of USD 3-10 billion

The focus within these channels is clearly shifting toward high-value, complex medicines:

• Focusing direct sales efforts on specialists in Cardiovascular-Renal-Metabolic, Immunology, Neuroscience, and Oncology.
• Prioritizing launch excellence for New Molecular Entities (NMEs) across the 4 core therapeutic areas.
• Building out manufacturing capacity to support the RLT platform, one of 3 emerging technology platforms.
• Ensuring supply chain integrity for time-sensitive products like RLTs, where proximity to treatment centers is critical.

If onboarding for a new specialty pharmacy partner takes longer than 14 days, churn risk rises due to treatment delays, so you'll want Finance to track that cycle time by end of Q1 2026.

Novartis AG (NVS) - Canvas Business Model: Customer Segments

You're looking at the core groups Novartis AG targets with its innovative medicines portfolio as of late 2025. This isn't just about the final patient; it's heavily focused on the gatekeepers and prescribers.

Healthcare Professionals (HCPs): This segment is segmented by specialty to align with Novartis AG's four core therapeutic areas: Cardiovascular-Renal-Metabolic, Immunology, Neuroscience, and Oncology.

• Oncologists: Driven by high-growth assets like Kisqali, which saw sales growth of +64% in Q2 2025.
• Cardiologists: Key prescribers for Entresto, which generated USD 2.4 billion in sales in Q2 2025.
• Neurologists: Targeted with assets like OAV101 IT, which had US and EU submissions in Q2 2025.
• Immunologists: Served by products such as Cosentyx, with Q2 2025 sales of USD 3.2 billion.

Patients with severe, chronic, or rare diseases in core therapeutic areas: The focus is on high disease burden populations where Novartis AG has significant in-market and pipeline assets.

Here's a look at the scale of the target patient populations in key geographies for the Cardiovascular-Renal-Metabolic area, based on 2025 epidemiology data:

Metric	US (Thousand Patients)	China (Thousand Patients)	EU5 (Thousand Patients)	Japan (Thousand Patients)
Chronic Heart Failure (Reduced EF) Diagnosed	12,830	7,321	3,388	1,556
Chronic Heart Failure (Reduced EF) Treated	8,744	3,696	1,048	565
Atherosclerotic CVD (ASCVD) Treated (Advanced LLT)	3,625	1,880	477	52

The treated population for specific indications is a direct measure of patient segment engagement. For instance, the treated population for Chronic Heart Failure with Reduced Ejection Fraction in the US was 8,744 thousand patients in 2025.

Global Payers and Government Health Authorities (e.g., CMS in the US): These entities control access and reimbursement, making them critical decision-makers. Their decisions are influenced by the net price and the impact of generic competition.

• Generic competition negatively impacted Q3 2025 net sales by 7 percentage points, driven by drugs like Promacta and Tasigna in the US.
• Pricing had a negative impact of 2 percentage points in Q3 2025, largely due to revenue deduction adjustments mainly in the US.
• The US region accounted for USD 6.0 billion in net sales in Q3 2025, showing +12% growth.

Integrated Delivery Networks (IDNs) and major hospital systems: These systems are key purchasers, especially for high-volume or hospital-administered therapies. The overall growth in volume is a proxy for their uptake.

For the nine months ending September 30, 2025, volume contributed 11 percentage points to the 11% growth in net sales. The company's focus on priority geographies like China, which saw over 25% constant currency growth in sales for the first 9 months of 2024, indicates strategic engagement with large, integrated systems in those markets.

Regulators (FDA, EMA, PMDA) in priority geographies: Regulatory bodies in the US, China, Germany, and Japan are crucial for market entry and continued access.

• FDA granted accelerated approval for Vanrafia for IgA nephropathy in Q2 2025.
• US and EU submissions were made for OAV101 IT in Q2 2025.

The TTM revenue ending September 30, 2025, was $56.372B.

Finance: review Q4 2025 guidance assumptions against Q3 2025 generic erosion rates by Friday.

Novartis AG (NVS) - Canvas Business Model: Cost Structure

You're looking at the major drains on Novartis AG's operating cash flow, the costs that underpin their ability to bring complex medicines to market. Honestly, for a company this size, the numbers are staggering, but they reflect the high-stakes nature of biopharma innovation.

High R&D expenditure is the most significant recurring investment. This is the cost of the pipeline, the engine for future revenue. For the twelve months ending September 30, 2025, Novartis AG's research and development expenses reached $10.879 billion. To put that in perspective, for the first quarter of 2025 alone, R&D expenses were reported at $2.366 billion.

Manufacturing and production costs are inherently high due to the complexity of the products. Novartis AG is heavily invested in specialized areas like radioligand therapy (RLT), which requires unique supply chains and sterile production environments. This is not simple pill pressing; it's high-tech chemistry and biology. This cost category is being aggressively managed through vertical integration, as seen in their massive capital outlay.

Selling, General, and Administrative (SG&A) expenses cover everything from sales force operations to corporate overhead. For the first quarter of 2025, Novartis AG reported SG&A expenses of $3.058 billion. Looking at the trailing twelve months ending September 30, 2025, the total SG&A was $13.309B, representing a year-over-year increase.

Capital expenditures are currently dominated by capacity expansion, especially for high-growth areas like RLT. Novartis AG announced a planned $23 billion investment over five years in U.S.-based manufacturing and research infrastructure, which includes building new facilities dedicated to RLT production in Florida and Texas, and expanding existing sites. This is a massive commitment to future production capability.

Finally, there are the costs associated with protecting that intellectual property. Patent defense and litigation are a constant, though variable, cost. While specific, recent total litigation spend for Novartis AG isn't always broken out, industry analysis suggests that settling patent disputes can cost pharmaceutical companies anywhere from $5 million to $50 million per case. We saw recent activity in 2025, such as a patent term extension challenge in Australia and post-grant opposition proceedings in India.

Here's a quick look at some of the key cost metrics we have for the recent periods:

Cost Component	Period/Basis	Amount (USD)
Research & Development (R&D) Expenses	TTM Sep 30, 2025	$10.879 billion
Selling, General, & Administrative (SG&A) Expenses	Q1 2025	$3.058 billion
Selling, General, & Administrative (SG&A) Expenses	TTM Sep 30, 2025	$13.309 billion
Capital Expenditure (Planned US Expansion)	Next 5 Years (Starting 2025)	$23 billion
R&D Expenses	Q1 2025	$2.366 billion
Patent Litigation Settlement (Industry Range)	General Estimate	$5 million to $50 million

The cost structure is clearly weighted toward future innovation, with R&D being the primary driver, supplemented by significant, strategic capital investment in manufacturing technology to support high-value products like RLTs. You can see the breakdown of the Q1 2025 operating expenses below:

• Cost of goods sold: $3,227 million for Q1 2025.
• Research and development: $2,366 million for Q1 2025.
• Selling, general and administration: $3,058 million for Q1 2025.
• Gross profit for Q1 2025 was $10,393 million.

The ratio of R&D to net sales for Q1 2025 was 17.9% (calculated from $2,366M R&D / $13,233M Net Sales).

Finance: draft 13-week cash view by Friday.

Novartis AG (NVS) - Canvas Business Model: Revenue Streams

You're looking at how Novartis AG, as of late 2025, converts its innovative medicines into hard currency. It's all about product sales, but those licensing deals and milestones provide important, albeit lumpy, support. Honestly, the focus is clearly on driving volume and maintaining pricing power for the big brands.

The core of the revenue engine is the innovative medicines segment, which is essentially the entire company now. For the first half of 2025 (H1 2025), Novartis posted net sales of USD 27.3 billion. This represented a year-on-year increase of 13% in constant currency (cc) for H1 2025. The company's full-year 2025 revenue guidance remains set for a high single-digit percentage increase.

Key growth drivers are absolutely carrying the momentum. You see this in the sales figures reported for the first half and the second quarter. For instance, Entresto, despite facing generic entry assumptions in mid-2025, still grew 22% cc in Q2 2025, contributing USD 4.6 billion in sales for H1 2025. Kisqali is showing massive acceleration, growing 60% in H1 2025, with Q2 sales hitting about $1.18 billion. Here's a quick look at how those top performers stacked up:

Key Growth Driver	H1 2025 Sales (USD)	Q2 2025 Growth (cc)	Therapeutic Area Focus
Entresto	$4.6 billion	+22%	Cardiovascular
Cosentyx	$3.2 billion	N/A (H1 growth was +11%)	Immunology
Kisqali	N/A (Q2 sales approx. $1.18B)	+64%	Oncology (Breast Cancer)
Pluvicto	N/A (Q2 sales $454 million)	+30%	Oncology (Prostate Cancer)

Beyond the product sales, Novartis captures revenue through other streams. Royalty income is definitely present, though it can fluctuate. In the first quarter of 2025, Royalty income was reported at USD 8 million, but the second quarter included a specific royalty settlement of USD 0.3 billion. This shows you that out-licensed products can provide meaningful, if irregular, cash boosts.

Milestone payments from collaboration and partnership agreements provide another layer. For the first quarter of 2025, the company booked Milestone income of USD 54 million. These payments are tied to hitting specific clinical or regulatory targets on partnered assets, which is a direct reflection of successful R&D execution outside their four walls.

To summarize the non-sales revenue components for the first half, you had:

• Royalty income, including a $0.3 billion settlement in Q2 2025.
• Milestone income of $54 million in Q1 2025.
• Other revenue components, such as manufacturing or services, which totaled USD 387 million in Q1 2025.

Finance: draft 13-week cash view by Friday.