Novartis' Strong Quarterly Performance Boosts Stock and Outlook.

Novartis reported a beat-and-raise Q1 report, with sales of heart failure drug Entresto surging 32%, Kisqali sales rocketing 81%, and Kesimpta revenue doubling. The company's innovative medicines and generics business also beat expectations. However, sales of immunology drug Cosentyx came in light, and Novartis may struggle to find acquisition targets against more financially secure rivals. Novartis confirmed its plan to spin off the Sandoz division in the second half of the year and raised its outlook for the year, expecting sales to grow by a mid-single-digit percentage.