Novartis and SAP report strong quarterly results

Novartis shares rose following third-quarter results that exceeded market expectations, driven by revenue growth and lower research, development, and administrative costs. The pharmaceutical company also raised its profit outlook for 2026. While newer medications missed expectations, performance from older products contributed to the growth.

In a separate development, Deutsche Bank Research maintained a ‘Hold’ rating on Novartis with a price target of 120 Swiss francs. This follows Phase III study data for Remibrutinib, a multiple sclerosis treatment, which showed a better safety profile than Roche’s competitor, Fenebritinib, despite moderately missing efficacy expectations.

SAP SE also saw its stock rise, supported by strong cloud performance. The company reported quarterly revenue of 10.27 billion euros, a 13.16 percent increase compared to the previous year. Earnings per share for the quarter were reported at 1.96 euros, up from 1.72 euros in the same period last year.