Novartis (NVS.US) raised its full-year earnings guidance again after Entresto and Kesimpta exceeded expectations in the first quarter.

Thanks to an increase in the number of prescriptions for Entresto, a drug for the treatment of heart failure, and Kesimpta, a drug for the treatment of multiple sclerosis, among others, Novartis (NVS.US) reported better-than-expected second-quarter results and raised its 2024 earnings forecast for the second time.

Novartis reported second-quarter revenue of $12.512 billion, up 9% year-on-year; net income of $3.246 billion, up 43% year-on-year; and earnings per share of $1.60, up from $1.09 a year earlier.

Adjusted operating profit was $4.953 billion, up 17% year-on-year, beating the consensus estimate of $4.6 billion; core earnings per share were $1.97, up from $1.69 a year earlier.

Novartis said it expected full-year adjusted operating profit to grow by a “mid-to-high double-digit” percentage, up from its previous forecast of a “low double-digit to mid-high double-digit” percentage.

The company’s sales of Entresto, Kesimpta and Cosentyx, an anti-inflammatory drug that has been approved for new uses, exceeded market expectations, according to the earnings statement.

The group, which has cut jobs and spun off its generic-drug business Sandoz, despite losing US patent protection on its blockbuster drug Entresto and Promacta, a drug for the treatment of blood platelet deficiency, next year, has confirmed its growth target for the medium term.

The company said it hoped to achieve $4bn annual sales for drugs such as Kesimpta, which had about $800m of revenue in the quarter.

Novartis also sees Leqvio, a cholesterol-lowering drug, as a potential blockbuster, with sales more than doubling to $182m in the second quarter.