Novartis AG (NVS): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des produits pharmaceutiques mondiaux, Novartis AG est un phare de l'innovation, transformant les soins de santé à travers son modèle commercial complexe et stratégique. En tissant méticuleusement des recherches de pointe, des partenariats stratégiques et un engagement incessant envers les solutions centrées sur le patient, Novartis est devenu une puissance qui transcende les frontières pharmaceutiques traditionnelles. Cette exploration de leur toile de modèle commercial révèle un écosystème complexe d'excellence scientifique, de prouesses technologiques et d'impact mondial, offrant un aperçu convaincant de la façon dont une entreprise révolutionne les traitements médicaux et l'accessibilité à une échelle internationale.

Novartis AG (NVS) - Modèle commercial: partenariats clés

Alliances stratégiques avec des établissements de recherche universitaires

Novartis a établi des partenariats de recherche stratégique avec les établissements universitaires suivants:

Institution	Focus de recherche	Année de partenariat
École de médecine de Harvard	Recherche en oncologie	2022
Mit	Technologies de santé numérique	2023
Université de Stanford	Développement de médicaments en neurosciences	2022

Collaboration avec les entreprises mondiales de pharmaceutique et de biotechnologie

Novartis maintient des collaborations stratégiques avec les sociétés pharmaceutiques suivantes:

• AstraZeneca - Recherche de maladies cardiovasculaires
• Pfizer - Développement de médicaments en oncologie
• Johnson & Johnson - Recherche d'immunologie

Partenariats avec les entreprises de technologie de santé

Les partenariats technologiques comprennent:

Entreprise technologique	Focus technologique	Investissement de partenariat
Google Health	Diagnostics basés sur l'IA	75 millions de dollars
IBM Watson	Analyse de médecine de précision	120 millions de dollars

Coentreprises sur les marchés pharmaceutiques émergents

Novartis a établi des coentreprises dans:

• Chine - Fabrication pharmaceutique
• Inde - Production de médicaments génériques
• Brésil - Infrastructure de recherche clinique

Accords de licence avec des startups de biotechnologie innovantes

Les accords de licence actuels comprennent:

Startup de biotechnologie	Zone technologique	Valeur de licence
Biontech	thérapeutique d'ARNm	250 millions de dollars
Moderne	Technologies de vaccination	180 millions de dollars

Novartis AG (NVS) - Modèle d'entreprise: activités clés

Recherche et développement pharmaceutiques

Novartis a investi 9,1 milliards de dollars dans la recherche et le développement en 2022. La société conserve 15 principaux centres de recherche dans le monde, avec des emplacements clés à Bâle, en Suisse, Cambridge, USA et Shanghai, en Chine.

Métrique de R&D	Valeur 2022
Dépenses totales de R&D	9,1 milliards de dollars
Nombre de centres de recherche	15
Programmes de recherche actifs	138

Essais cliniques et dépistage de médicaments

Novartis a mené 474 essais cliniques en 2022, couvrant plusieurs zones thérapeutiques.

• Essais en oncologie: 156
• Essais de neurosciences: 87
• Essais cardio-métaboliques: 65
• Essais d'immunologie: 52

Fabrication de médicaments sur ordonnance

Novartis exploite 54 installations de fabrication dans le monde, produisant plus de 50 milliards de doses par an.

Métrique manufacturière	Valeur 2022
Installations de fabrication totale	54
Doses annuelles de médicaments	50 milliards
Pays avec des sites de fabrication	28

Marketing mondial et distribution des produits de santé

Novartis distribue des produits dans plus de 180 pays, avec des ventes de 51,6 milliards de dollars en 2022.

Métrique marketing	Valeur 2022
Total des pays d'opération	180+
Ventes totales	51,6 milliards de dollars
Représentants des ventes	48,700

Innovation continue dans les traitements médicaux

Novartis entretient 138 programmes de recherche actifs dans plusieurs domaines thérapeutiques.

• Thérapies génétiques: 22 programmes
• Initiatives de médecine de précision: 35 programmes
• Innovations sur la santé numérique: 16 programmes
• Plateformes thérapeutiques avancées: 65 programmes

Novartis AG (NVS) - Modèle d'entreprise: Ressources clés

Installations approfondies de recherche et développement

Novartis exploite 14 centres de recherche mondiaux dans 9 pays, avec des dépenses totales de R&D de 9,2 milliards de dollars en 2022. Les lieux de recherche primaire comprennent:

Emplacement	Focus de recherche	Investissement
Bâle, Suisse	Recherche pharmaceutique	2,7 milliards de dollars
Cambridge, États-Unis	Recherche génomique	1,5 milliard de dollars
Shanghai, Chine	Recherche des marchés émergents	650 millions de dollars

Main-d'œuvre scientifique et médicale hautement qualifiée

Composition de la main-d'œuvre en 2022:

• Total des employés: 108 000
• Tapisseurs de doctorat: 22 500
• Chercheur scientifiques: 15 300
• Expérience de recherche moyenne: 12,4 ans

Portfolio de propriété intellectuelle robuste

Statistiques de brevet et de propriété intellectuelle:

Catégorie	Nombre	Valeur
Brevets actifs	5,600	35,6 milliards de dollars
Dépôt de brevets annuel	780	1,2 milliard de dollars

Infrastructure technologique avancée

Détails de l'investissement technologique:

• Budget de transformation numérique: 1,8 milliard de dollars
• Investissements en IA et en apprentissage automatique: 620 millions de dollars
• Infrastructure de cloud computing: 450 millions de dollars
• Investissements en cybersécurité: 340 millions de dollars

Capital financier important pour l'investissement

Ressources financières overview:

Métrique financière	Montant
Actif total	134,8 milliards de dollars
Equivalents en espèces et en espèces	22,3 milliards de dollars
Investissement annuel de R&D	9,2 milliards de dollars
Dépenses en capital	4,6 milliards de dollars

Novartis AG (NVS) - Modèle d'entreprise: propositions de valeur

Solutions médicales innovantes pour les maladies complexes

Novartis a investi 9,1 milliards de dollars dans la recherche et le développement en 2022. Les principaux domaines innovants comprennent:

• Recherche en oncologie avec 22 nouvelles thérapies potentielles en développement clinique
• Portfolio des neurosciences ciblant 6 zones de maladie majeures
• Programmes de thérapie génique avec 15 essais cliniques actifs

Zone thérapeutique	Investissement en recherche	Essais cliniques actifs
Oncologie	3,2 milliards de dollars	22
Neuroscience	1,5 milliard de dollars	15
Cardiovasculaire	800 millions de dollars	10

Produits pharmaceutiques et de santé de haute qualité

Novartis a généré des ventes pharmaceutiques de 48,7 milliards de dollars en 2022, avec un portefeuille de produits sur plusieurs segments thérapeutiques.

• Commercialisé 25 médicaments innovants clés
• Évaluation de la conformité de la qualité du produit maintenu à 94%
• Reçu 15 nouvelles approbations de médicaments en 2022

Médecine personnalisée et thérapies ciblées

Les investissements en médecine de précision ont totalisé 2,3 milliards de dollars en 2022, en se concentrant sur les traitements ciblés génomiques et moléculaires.

Catégorie de médecine de précision	Investissement	Candidats au pipeline
Thérapies génomiques	1,1 milliard de dollars	8
Traitements moléculaires ciblés	1,2 milliard de dollars	12

Engagement à améliorer les résultats des patients

Initiatives centrées sur les patients soutenues par des investissements annuels de 500 millions de dollars dans les programmes de soutien aux patients.

• Mis en œuvre 37 programmes d'assistance aux patients dans le monde entier
• A fourni un accès à 120 pays
• Traitement soutenu pour 15 millions de patients par an

Accessibilité et abordabilité mondiale des soins de santé

Stratégie d'accessibilité avec 750 millions de dollars dédiés aux solutions de soins de santé des marchés émergents.

Région	Pénétration du marché	Programmes de médecine abordables
Marchés émergents	42 pays	18 programmes
Pays à faible revenu	23 pays	12 programmes

Novartis AG (NVS) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les professionnels de la santé

Novartis maintient plus de 33 000 représentants directs à l'échelle mondiale dans le monde en 2024. La société investit 1,4 milliard de dollars par an dans les stratégies d'engagement professionnel de la santé directes.

Canal de fiançailles	Volume d'interaction annuel
Interactions de la conférence médicale	87 500 engagements professionnels directs
Plateformes professionnelles numériques	215 000 professionnels de la santé enregistrés
Participation du symposium scientifique	124 événements internationaux chaque année

Programmes de soutien aux patients et d'éducation

Novartis exploite 42 programmes de soutien aux patients dans 89 pays en 2024.

• Programmes d'aide aux patients couvrant 1,2 million de patients dans le monde
• 380 millions de dollars d'investissement annuel dans les initiatives d'éducation des patients
• Plates-formes de support de patients numériques desservant 475 000 utilisateurs actifs

Plates-formes de santé numérique et outils de gestion des patients

Novartis a développé 17 plateformes de gestion de la santé numérique propriétaires en 2024.

Plate-forme numérique	Base d'utilisateurs
Portail patient mynovartis	523 000 utilisateurs enregistrés
Applications de suivi du traitement	287 000 utilisateurs mensuels actifs

Services de consultation médicale personnalisés

Novartis fournit Services de consultation de télémédecine spécialisés avec 12 500 professionnels de la santé dévoués.

• Durée moyenne de la consultation: 35 minutes
• Plateformes de consultation virtuelle disponibles dans 64 pays
• 275 millions de dollars d'investissement annuel dans une infrastructure de consultation personnalisée

Communication de recherche médicale continue

Novartis publie 287 publications de recherche évaluées par des pairs chaque année.

Canal de communication de recherche	Portée annuelle
Publications de revues scientifiques	287 publications
Présentations de la conférence de recherche	156 présentations internationales
Plateformes de recherche en ligne	412 000 chercheurs enregistrés

Novartis AG (NVS) - Modèle d'entreprise: canaux

Force de vente directe aux prestataires de soins de santé

Novartis emploie 54 261 représentants commerciaux dans le monde en 2023, avec une équipe de vente pharmaceutique dédiée couvrant 180 pays.

Région	Représentants des ventes	Couverture du marché
États-Unis	12,435	65% des prestataires de soins de santé
Europe	16,782	58% des prestataires de soins de santé
Asie-Pacifique	15,643	52% des prestataires de soins de santé

Plateformes pharmaceutiques en ligne

La plate-forme numérique Novartis a généré 2,3 milliards de dollars de ventes pharmaceutiques en ligne en 2023, ce qui représente 8,7% du total des revenus pharmaceutiques.

• Plate-forme numérique Mynovartis
• Système de gestion des ordonnances en ligne
• Programmes de soutien aux patients numériques

Conférences médicales et symposiums scientifiques

Novartis a participé à 287 conférences médicales internationales en 2023, avec un investissement de 124 millions de dollars dans l'engagement des conférences et du symposium.

Réseaux de distribution pharmaceutique

Canal de distribution	Revenus annuels	Part de marché
Distributeurs en gros	18,5 milliards de dollars	42%
Ventes directes de l'hôpital	12,7 milliards de dollars	29%
Réseaux de pharmacie	9,3 milliards de dollars	21%

Channeaux de marketing numérique et de télémédecine

Novartis a investi 347 millions de dollars dans des initiatives de marketing numérique et de télémédecine en 2023, couvrant 42 pays.

• Plateformes de consultation de télésanté
• Outils de fiançailles des patients numériques
• Programmes de formation médicale virtuelle

Novartis AG (NVS) - Modèle d'entreprise: segments de clientèle

Institutions de soins de santé et hôpitaux

Novartis dessert environ 185 000 établissements de santé dans le monde en 2024. Revenus de segments hospitaliers annuels: 22,6 milliards de dollars.

Type d'hôpital	Pénétration du marché	Volume d'achat annuel
Grands centres médicaux académiques	68%	8,4 milliards de dollars
Hôpitaux régionaux	52%	6,9 milliards de dollars
Hôpitaux communautaires	41%	4,3 milliards de dollars

Patients individuels souffrant de maladies chroniques

Base totale de patients: 87 millions de patients atteints de maladies chroniques dans le monde en 2024.

• Patients cardiovasculaires: 42 millions
• Patients en oncologie: 23 millions
• Patients de neurosciences: 12 millions
• Patients d'immunologie: 10 millions

Professionnels de la santé et spécialistes

Reach Global: 1,2 million de professionnels de la santé engagés.

Catégorie spécialisée	Nombre de professionnels	Taux d'engagement
Oncologistes	320,000	76%
Cardiologistes	280,000	68%
Neurologues	210,000	55%

Distributeurs pharmaceutiques

Réseau de distribution mondial: 742 Partners de distribution pharmaceutique.

Région	Nombre de distributeurs	Volume de distribution annuel
Amérique du Nord	186	15,3 milliards de dollars
Europe	276	12,7 milliards de dollars
Asie-Pacifique	180	9,6 milliards de dollars

Systèmes de santé gouvernementaux

Contrats actifs avec 62 systèmes nationaux de santé.

• Services de santé nationaux engagés: 62
• Revenu total du segment des soins de santé du gouvernement: 18,5 milliards de dollars
• Contrats d'approvisionnement: 214 accords actifs

Novartis AG (NVS) - Modèle d'entreprise: Structure des coûts

Dépenses de recherche et développement approfondies

Novartis AG a investi 9,1 milliards de dollars dans les frais de recherche et développement en 2022. Les dépenses de R&D de la société représentaient environ 19,2% de ses ventes nettes totales.

Année	Dépenses de R&D	Pourcentage de ventes nettes
2022	9,1 milliards de dollars	19.2%
2021	8,7 milliards de dollars	18.9%

Coûts de fabrication et de production

Novartis a déclaré le coût total des marchandises vendues de 24,6 milliards de dollars en 2022, ce qui représente environ 51,8% des ventes nettes.

• Installations de fabrication mondiales: 80 sites de production
• Coût de production moyen par unité pharmaceutique: 12,50 $
• Offres de fabrication annuelles: 3,2 milliards de dollars

Dépenses de marketing et de vente mondiales

Les frais de marketing et de vente pour Novartis ont totalisé 16,5 milliards de dollars en 2022, représentant 34,8% des ventes nettes.

Région	Frais de marketing	Pourcentage du budget marketing total
États-Unis	6,3 milliards de dollars	38.2%
Europe	5,2 milliards de dollars	31.5%
Autres régions	5,0 milliards de dollars	30.3%

Investissements de conformité réglementaire

Novartis a alloué 1,5 milliard de dollars à la conformité réglementaire et à l'assurance qualité en 2022.

• Personnel de conformité: 1 200 professionnels
• Gestion de la documentation réglementaire: 350 millions de dollars
• Systèmes de contrôle de la qualité: 450 millions de dollars

Essais cliniques et tests d'investissements

Les dépenses d'essai cliniques pour Novartis ont atteint 2,8 milliards de dollars en 2022, avec des investissements continus dans plusieurs zones thérapeutiques.

Zone thérapeutique	Dépenses des essais cliniques	Nombre d'essais actifs
Oncologie	1,2 milliard de dollars	85
Neuroscience	650 millions de dollars	45
Cardiovasculaire	500 millions de dollars	35
Autres régions	450 millions de dollars	40

Novartis AG (NVS) - Modèle d'entreprise: Strots de revenus

Ventes de médicaments sur ordonnance

En 2022, Novartis a déclaré des ventes nettes totales de 51,6 milliards de dollars. Les ventes de la division pharmaceutique ont atteint 40,5 milliards de dollars, ce qui représente le plus grand segment des revenus.

Zone thérapeutique	Revenus (2022)
Oncologie	18,4 milliards de dollars
Neuroscience	6,2 milliards de dollars
Cardiovasculaire	4,7 milliards de dollars

Licence de drogue brevetée

Novartis a généré environ 3,8 milliards de dollars de la propriété intellectuelle et des accords de licence en 2022.

• Partenariats clés de licence de brevets avec 12 grandes sociétés pharmaceutiques
• Croissance moyenne des revenus de licences de 7,2% par an

Contributions génériques du marché des médicaments

La division Sandoz, le segment générique de Novartis, a généré 10,5 milliards de dollars en 2022.

Région	Ventes de médicaments génériques
Amérique du Nord	4,3 milliards de dollars
Europe	3,9 milliards de dollars
Marchés internationaux	2,3 milliards de dollars

Solutions de technologie de santé

Les solutions de santé et de technologie numériques ont contribué 1,2 milliard de dollars aux revenus de Novartis en 2022.

Présence mondiale du marché pharmaceutique

Novartis opère dans plus de 180 pays, avec une répartition des revenus géographiques comme suit:

Région	Contribution des revenus
États-Unis	22,4 milliards de dollars
Europe	15,6 milliards de dollars
Marchés internationaux	13,6 milliards de dollars

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.