Novartis Gains Momentum with Pluvicto Success and Strategic Share Buyback

Novartis, the Swiss pharmaceutical giant, is making waves in the industry with recent successes and strategic moves. The company's radioligand therapy, Pluvicto, has shown promising results in prostate cancer trials, while a significant share buyback program aims to boost investor confidence.

Pluvicto's Resurgence in Prostate Cancer Treatment

Novartis' Pluvicto has demonstrated renewed vigor in the fight against prostate cancer. After two disappointing quarters, the PSMA-targeted agent recorded sales of $454 million in Q2 2025, marking a 22% growth over the previous quarter. This resurgence is partly attributed to an FDA approval in late March for pre-taxane, PSMA-positive metastatic castration-resistant prostate cancer (mCRPC).

The drug's penetration into community settings has been particularly noteworthy, with new-to-brand prescriptions increasing by 60% in these areas. Novartis CEO Vas Narasimhan highlighted that the community setting now accounts for about 58% of Pluvicto's total scripts in Q2.

Further bolstering Pluvicto's potential, Novartis announced that the phase 3 PSMAddition trial in metastatic hormone-sensitive prostate cancer (mHSPC) has met its primary endpoint. The trial demonstrated a statistically significant and clinically meaningful benefit in delaying progression or death when Pluvicto was added to the existing standard of care.

Strategic Financial Moves and Product Performance

Amidst these clinical successes, Novartis is launching a $10 billion share buyback program, set to be completed by the end of 2027. This move comes as the company reported second-quarter sales of $14 billion, meeting Wall Street's expectations with a 12% year-over-year growth.

Other key products in Novartis' portfolio have shown mixed results. Kisqali, used in the treatment of HR-positive, HER2-negative breast cancer, doubled its U.S. sales year over year, reaching $750 million in Q2. The drug now holds a 61% U.S. new-to-brand share in the early-stage setting within its class.

However, Cosentyx, Novartis' second-largest product, faced challenges. Despite a 7% sales growth year over year, it missed analysts' expectations by 7%. The company cited "short-term headwinds" in the U.S., including impacts from Medicare Part D redesign and the 340B federal drug price discount program, as well as increased competition in certain indications.

Entresto, Novartis' top-selling heart medication, continues to perform strongly with $2.4 billion in Q2 sales, up 24% from the previous year. However, the company faces potential generic competition in the U.S. market, with legal battles ongoing to protect its exclusivity.

As Novartis navigates these developments, the company also announced a leadership change, with CFO Harry Kirsch set to retire after 22 years with the company. Mukul Mehta, currently head of business planning and analysis, digital finance and tax, will assume the CFO role effective March 16, 2026.