The facts

  1. Net income fell to US$1.196 billion from US$3.930 billion, a 70% decline in US-dollar terms. Earnings per share were US$0.63 versus US$2.04. [1][2]

  2. The company recorded a partial impairment of the del-desiran in-process research and development asset. The charge contributed to higher research expenses; it is not a cash-sales decline. [1]

  3. Core net income was US$4.655 billion, compared with US$4.330 billion. Core earnings were US$2.46 a share, against US$2.25. [1][2]

  4. At constant currencies, Novartis now expects annual core operating income to be flat to grow by a low-single-digit percentage, rather than decline by a low-single-digit percentage. Low-single-digit sales-growth guidance was unchanged. [1][2]

Sources

References support the numbered facts above. Source checks: 29 Oct 2026, 13:55 UTC.

  1. Novartis delivered sales growth and core margin expansion in Q3; raised FY core operating income guidance

    Novartis · Primary source · 27 Oct 2026

    Quarterly table, impairment and 2026 outlook read. Core results and constant-currency comparisons are non-IFRS measures.

  2. Novartis Q3 profit declines; lifts FY26 core income view, backs sales outlook

    RTTNews · Reporting · 27 Oct 2026

    Independently owned financial-news report; reported and core profit are distinguished.

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