Key facts: Novartis faces patent expirations; Citigroup issues 'buy' rating; Cosentyx selected for Medicare negotiations
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Novartis is facing revenue challenges due to impending patent expirations on key drugs and is exploring acquisitions of biotech firms to maintain a strong pipeline of protected intellectual property.1Citigroup has initiated a 'buy' rating on Novartis, citing the company as a 'consistent earnings outperformer' and noting the presence of several potential multi-billion-dollar drugs in its pipeline.2Novartis' psoriasis drug Cosentyx is among 15 drugs selected for Medicare price negotiations in 2028, part of the Inflation Reduction Act of 2022's third negotiation round.3
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