Divestitures boost portfolio growth above 1.5% by mid-2025
Recent Daily Analysis
— Today’s outperformance is not a bet on a single drug trial, but the beginning of a structural re-rating of the entire company. We hypothesize that the market is slowly starting to value the 'new Novartis'—post-Sandoz spinoff—as a pure-play innovative medicines company rather than a slow-growth, diversified pharma conglomerate. This shift justifies a higher, biotech-like valuation multiple as the low-margin generics drag is gone and capital is focused entirely on its high-potential pipeline. The massive +108% DCF gap represents this latent potential, making the stock undervalued as long as the market prices it using its outdated, pre-spinoff conglomerate discount.