Novartis outlines plan to become a ‘top-five player’ in U.S. pharmaceuticals market

Novartis AG NOVN, -0.81% on Thursday told investors that the Swiss drug maker plans to adopt a “U.S.-first mindset” in its bid to become a “top-five player” in the U.S. market by 2027. Novartis is one of the world’s largest pharmaceutical companies; however in the U.S., it was the tenth largest by revenue in the U.S. in 2021, according to FiercePharma. Novartis also said it plans to become a “top-three player” in China. U.S.-listed shares of Novartis are down 11.8% this year, while the S&P 500 SPX, -1.36% has declined 20.5%.