What drove NVS's earnings surprise in 2024?

Novartis AG (NVS) experienced an earnings surprise of $0.19 in 2024, which can be attributed to several key factors: 1. **Strong Growth in Key Products**: Novartis saw significant growth in key products such as Entresto for heart failure and Kesimpta for multiple sclerosis. These drugs contributed to the company's robust financial performance and higher earnings. 2. **Strategic Innovations**: The company's strategic innovations and market access initiatives have positively impacted its sales and profitability. Novartis has been successful in increasing the use of its prescription drugs, such as Cosentyx for psoriasis and arthritis, which has led to higher revenues and earnings. 3. **Upgraded Full-Year Guidance**: Novartis has raised its 2024 earnings guidance for the second and third times, indicating confidence in its continued growth. This guidance reflects the company's expectation of sustained performance across its key product lines. In summary, NVS's earnings surprise in 2024 can be attributed to strong growth in key products, strategic innovations, and upgraded full-year guidance. These factors combined to drive the company's financial performance and exceeded market expectations.