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Novartis on Wednesday (February 1) predicted that core operating income would grow in a "mid single digit" percentage range in 2023 following stagnation last year, as the Swiss drugmaker prepares to spin off its Sandoz generics business. Full-year core operating income was broadly flat at $16.7 billion, it said in a statement, coming in slightly below market expectations of $16.8 billion. Adjusted for overall negative currency effects, group sales in 2022 advanced 4 per cent to $50.5 billion as gains from heart failure drug Entresto and multiple sclerosis (MS) drug Kesimpta were partly offset by competition from cheap generic copies of established MS drug Gilenya. Novartis said it was on track to spin off its generics unit Sandoz in the second half of the year as part of its effort to sharpen its focus on its patented prescription medicines. Analysts have welcomed a programme unveiled in 2022 to trim costs and cut 8,000 jobs and plans to focus on fewer therapy areas and drug technologies. But the market has been underwhelmed by prospects for medium-term growth from new drugs.

Amgen Inc sued Novartis AG's Sandoz in a federal court in the United States on Monday (May 1), accusing Sandoz's proposed versions of its multibillion-dollar bone-strengthening drugs Prolia and Xgeva of infringing several patents. Amgen asked the New Jersey court to block Sandoz's biosimilars of the drugs until its patents expire. One of the patents named in the complaint does not expire until 2037. Sandoz declined to comment on the lawsuit on Tuesday. Novartis, which is also named in the complaint, is preparing to spin Sandoz off into a standalone company later this year. Amgen's Prolia is used to treat osteoporosis. Xgeva, with the same active ingredient denosumab, treats bone cancer and prevents fractures in bone-cancer patients.