Document and Entity Information
Document and Entity Information - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Document Information [Line Items] | ||
Document Type | 20-F | |
Amendment Flag | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Shell Company Report | false | |
Document Period End Date | Dec. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | FY | |
Entity Registrant Name | Novartis AG | |
Entity Central Index Key | 0001114448 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 2,119,609,057 | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Interactive Data Current | Yes | |
ICFR Auditor Attestation Flag | true | |
Auditor Name | KPMG AG | PricewaterhouseCoopers AG |
Auditor Location | Basel, Switzerland | Basel, Switzerland |
Auditor Firm ID | 3240 | 1358 |
Entity File Number | 1-15024 | |
Entity Incorporation, State or Country Code | V8 | |
Entity Address, Address Line One | Lichtstrasse 35 | |
Entity Address, City or Town | Basel | |
Entity Address, Postal Zip Code | 4056 | |
Entity Address, Country | CH | |
Document Registration Statement | false | |
Document Accounting Standard | International Financial Reporting Standards | |
American Depositary Shares each representing 1 share | ||
Document Information [Line Items] | ||
Title of 12(b) Security | American Depositary Shares each representing 1 share | |
Trading Symbol | NVS | |
Security Exchange Name | NYSE | |
Ordinary shares, nominal value CHF 0.50 per share* | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Ordinary shares, nominal value CHF 0.50 per share | |
Trading Symbol | NOVN | |
Security Exchange Name | NYSE | |
Business Contact [Member] | ||
Document Information [Line Items] | ||
Entity Address, Address Line One | Lichtstrasse 35 | |
Entity Address, City or Town | Basel | |
Entity Address, Postal Zip Code | 4056 | |
Entity Address, Country | CH | |
Contact Personnel Name | Karen L. Hale | |
Country Region | 41 | |
City Area Code | 61 | |
Local Phone Number | 324-1111 | |
Contact Personnel Fax Number | 324-7826 |
Consolidated income statements
Consolidated income statements - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Net sales | $ 50,545 | $ 51,626 | $ 48,659 |
Other revenues | 1,283 | 1,251 | 1,239 |
Cost of goods sold | (15,486) | (15,867) | (15,121) |
Gross profit | 36,342 | 37,010 | 34,777 |
Selling, general and administration | (14,253) | (14,886) | (14,197) |
Research and development | (9,996) | (9,540) | (8,980) |
Other income | 805 | 1,852 | 1,742 |
Other expense | (3,701) | (2,747) | (3,190) |
Operating income | 9,197 | 11,689 | 10,152 |
(Loss)/income from associated companies | (9) | 15,339 | 673 |
Interest expense | (837) | (811) | (869) |
Other financial income and expense | 20 | (80) | (78) |
Income before taxes | 8,371 | 26,137 | 9,878 |
Income taxes | (1,416) | (2,119) | (1,807) |
Net income | 6,955 | 24,018 | 8,071 |
Attributable to | |||
Shareholders of Novartis AG | 6,955 | 24,021 | 8,072 |
Non-controlling interests | $ 0 | $ (3) | $ (1) |
Basic earnings per share [abstract] | |||
Basic earnings per share | $ 3.19 | $ 10.71 | $ 3.55 |
Diluted earnings per share [abstract] | |||
Diluted earnings per share | $ 3.17 | $ 10.63 | $ 3.52 |
Consolidated statements of comp
Consolidated statements of comprehensive income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Net income | $ 6,955 | $ 24,018 | $ 8,071 |
Other comprehensive income to be eventually recycled into the consolidated income statement | |||
Associated companies' movements in comprehensive income | 46 | (56) | |
Net investment hedge | 91 | 216 | (201) |
Currency translation effects | (450) | (4,762) | 3,194 |
Total of items to eventually recycle | (359) | (4,500) | 2,937 |
Other comprehensive income never to be recycled into the consolidated income statement | |||
Actuarial gains/losses from defined benefit plans, net of taxes | (103) | 1,809 | 143 |
Fair value adjustments on equity securities, net of taxes | (382) | 194 | 250 |
Total of items never to be recycled | (485) | 2,003 | 393 |
Total comprehensive income | 6,111 | 21,521 | 11,401 |
Attributable to | |||
Shareholders of Novartis AG | 6,116 | 21,528 | 11,403 |
Comprehensive income, attributable to non-controlling interests | $ (5) | $ (7) | $ (2) |
Consolidated balance sheets
Consolidated balance sheets - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Non-current assets [abstract] | ||
Property, plant and equipment | $ 10,764 | $ 11,545 |
Right-of-use assets | 1,431 | 1,561 |
Goodwill | 29,301 | 29,595 |
Intangible assets other than goodwill | 31,644 | 34,182 |
Investment in associated companies | 143 | 205 |
Deferred tax assets | 3,739 | 3,743 |
Financial assets | 2,411 | 3,036 |
Other non-current assets | 1,110 | 2,210 |
Total non-current assets | 80,543 | 86,077 |
Current assets [abstract] | ||
Inventories | 7,175 | 6,666 |
Current trade receivables | 8,066 | 8,005 |
Income tax receivable | 268 | 278 |
Marketable securities, commodities, time deposits and derivative financial instruments | 11,413 | 15,922 |
Cash and cash equivalents | 7,517 | 12,407 |
Other current assets | 2,471 | 2,440 |
Total current assets | 36,910 | 45,718 |
Total assets | 117,453 | 131,795 |
Equity [abstract] | ||
Share capital | 890 | 901 |
Treasury shares | (92) | (48) |
Reserves | 58,544 | 66,802 |
Equity attributable to Novartis AG shareholders | 59,342 | 67,655 |
Non-controlling interests | 81 | 167 |
Total equity | 59,423 | 67,822 |
Non-current liabilities [abstract] | ||
Financial debts | 20,244 | 22,902 |
Lease liabilities | 1,538 | 1,621 |
Deferred tax liabilities | 2,686 | 3,070 |
Provisions and other non-current liabilities | 4,906 | 6,172 |
Total non-current liabilities | 29,374 | 33,765 |
Current liabilities [abstract] | ||
Trade payables | 5,146 | 5,553 |
Financial debts and derivative financial instruments | 5,931 | 6,295 |
Lease liabilities | 251 | 275 |
Current income tax liabilities | 2,533 | 2,415 |
Provisions and other current liabilities | 14,795 | 15,670 |
Total current liabilities | 28,656 | 30,208 |
Total liabilities | 58,030 | 63,973 |
Total equity and liabilities | $ 117,453 | $ 131,795 |
Consolidated statements of chan
Consolidated statements of changes in equity - USD ($) $ in Millions | Total | Equity attributable to owners of parent [member] | Share capital | Treasury shares | Retained earnings | Total value adjustments | Non-controlling interests [member] |
Equity | Restated Value Adjustments [member] | $ 55,551 | $ 55,474 | $ 936 | $ (80) | $ 59,275 | $ (4,657) | $ 77 |
Equity at beginning of period (Restated Value Adjustments [member]) at Dec. 31, 2019 | 55,551 | 55,474 | 936 | (80) | 59,275 | (4,657) | 77 |
Net income | 8,071 | 8,072 | 8,072 | (1) | |||
Other comprehensive income | 3,330 | 3,331 | (56) | 3,387 | (1) | ||
Total comprehensive income | 11,401 | 11,403 | 8,016 | 3,387 | (2) | ||
Dividends | (6,987) | (6,987) | (6,987) | ||||
Purchase of treasury shares | (3,056) | (3,056) | (18) | (3,038) | |||
Reduction of share capital | (23) | 31 | (8) | ||||
Exercise of options and employee transactions, equity impact | 806 | 806 | 8 | 798 | |||
Repurchase of options | (89) | (89) | (89) | ||||
Equity-based compensation | 730 | 730 | 6 | 724 | |||
Shares delivered to divested business employees, equity impact | 30 | 30 | 0 | 30 | |||
Taxes on treasury shares | 32 | 32 | 32 | ||||
(Increase)/decrease of treasury share repurchase obligation under a share buyback trading plan | (1,769) | (1,769) | (1,769) | ||||
Fair value adjustments on equity securities sold, reclassified to retained earnings | 150 | (150) | |||||
Fair value adjustments related to divestments | (2) | 2 | |||||
Impact of change in ownership of consolidated entities | (1) | 6 | 7 | (1) | (7) | ||
Other movements | 18 | 18 | 18 | ||||
Total of other equity movements | (10,286) | (10,279) | (23) | 27 | (10,134) | (149) | (7) |
Equity at end of period at Dec. 31, 2020 | 56,666 | 56,598 | 913 | (53) | 57,157 | (1,419) | 68 |
Equity | 56,666 | 56,598 | 913 | (53) | 57,157 | (1,419) | 68 |
Net income | 24,018 | 24,021 | 24,021 | (3) | |||
Other comprehensive income | (2,497) | (2,493) | 46 | (2,539) | (4) | ||
Total comprehensive income | 21,521 | 21,528 | 24,067 | (2,539) | (7) | ||
Dividends | (7,368) | (7,368) | (7,368) | ||||
Purchase of treasury shares | (2,920) | (2,920) | (18) | (2,902) | |||
Reduction of share capital | (12) | 18 | (6) | ||||
Exercise of options and employee transactions, equity impact | 39 | 39 | 0 | 39 | |||
Equity-based compensation | 745 | 745 | 5 | 740 | |||
Shares delivered to divested business employees, equity impact | 17 | 17 | 0 | 17 | |||
Taxes on treasury shares | 1 | 1 | 1 | ||||
(Increase)/decrease of treasury share repurchase obligation under a share buyback trading plan | (1,040) | (1,040) | (1,040) | ||||
Transaction costs recorded in equity | 12 | 12 | 12 | ||||
Fair value adjustments on equity securities sold, reclassified to retained earnings | 164 | (164) | |||||
Changes in non-controlling interests | (1) | (1) | |||||
Fair value adjustments related to divestments | 65 | (65) | |||||
Impact of change in ownership of consolidated entities | 102 | (5) | (5) | 0 | 107 | ||
Other movements | 48 | 48 | 48 | ||||
Total of other equity movements | (10,365) | (10,471) | (12) | 5 | (10,235) | (229) | 106 |
Equity at end of period at Dec. 31, 2021 | 67,822 | 67,655 | 901 | (48) | 70,989 | (4,187) | 167 |
Equity | 67,822 | 67,655 | 901 | (48) | 70,989 | (4,187) | 167 |
Net income | 6,955 | 6,955 | 6,955 | 0 | |||
Other comprehensive income | (844) | (839) | (839) | (5) | |||
Total comprehensive income | 6,111 | 6,116 | 6,955 | (839) | (5) | ||
Dividends | (7,506) | (7,506) | (7,506) | ||||
Purchase of treasury shares | (10,910) | (10,910) | (66) | (10,844) | |||
Reduction of share capital | (11) | 15 | (4) | ||||
Exercise of options and employee transactions, equity impact | 88 | 88 | 1 | 87 | |||
Equity-based compensation | 854 | 854 | 6 | 848 | |||
Shares delivered to divested business employees, equity impact | 5 | 5 | 0 | 5 | |||
Taxes on treasury shares | 14 | 14 | 14 | ||||
(Increase)/decrease of treasury share repurchase obligation under a share buyback trading plan | 2,809 | 2,809 | 2,809 | ||||
Fair value adjustments on equity securities sold, reclassified to retained earnings | 4 | (4) | |||||
Changes in non-controlling interests | (81) | (81) | |||||
Fair value adjustments related to divestments | (34) | 34 | |||||
Other movements | 217 | 217 | 217 | ||||
Total of other equity movements | (14,510) | (14,429) | (11) | (44) | (14,404) | 30 | (81) |
Equity at end of period at Dec. 31, 2022 | 59,423 | 59,342 | 890 | (92) | 63,540 | (4,996) | 81 |
Equity | $ 59,423 | $ 59,342 | $ 890 | $ (92) | $ 63,540 | $ (4,996) | $ 81 |
Consolidated cash flow statemen
Consolidated cash flow statements - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Net income | $ 6,955 | $ 24,018 | $ 8,071 |
Reversal of non-cash items and other adjustments | 11,546 | (5,299) | 9,881 |
Dividends received from associated companies and others | 1 | 525 | 490 |
Interest received | 254 | 13 | 47 |
Interest paid | (696) | (664) | (703) |
Other financial receipts | 71 | 464 | |
Other financial payments | (32) | (302) | (39) |
Income taxes paid | (1,975) | (2,342) | (1,833) |
Net cash flows from operating activities before working capital and provision changes | 16,124 | 15,949 | 16,378 |
Payments out of provisions and other net cash movements in non-current liabilities | (885) | (1,119) | (2,437) |
Change in net current assets and other operating cash flow items | (1,003) | 241 | (291) |
Net cash flows from operating activities | 14,236 | 15,071 | 13,650 |
Purchases of property, plant and equipment | (1,198) | (1,378) | (1,275) |
Proceeds from sale of property, plant and equipment | 167 | 240 | 88 |
Purchases of intangible assets | (1,473) | (1,593) | (1,310) |
Proceeds from sale of intangible assets | 202 | 748 | 380 |
Purchases of financial assets | (121) | (191) | (230) |
Proceeds from sale of financial assets | 133 | 442 | 723 |
Purchases of other non-current assets | (1) | (61) | (61) |
Proceeds from sale of other non-current assets | 4 | 2 | |
Acquisitions and divestments of interests in associated companies, net | (24) | 20,669 | (7) |
Acquisitions and divestments of businesses, net | (879) | (567) | (9,957) |
Purchases of marketable securities, commodities and time deposits | (34,695) | (16,403) | (1,900) |
Proceeds from sale of marketable securities, commodities and time deposits | 39,357 | 2,298 | 492 |
Net cash flows from/(used in) investing activities from continuing operations | 1,468 | 4,208 | (13,055) |
Net cash flows used in investing activities from discontinued operations | (127) | ||
Net cash flows from/(used in) investing activities | 1,468 | 4,208 | (13,182) |
Dividends paid to shareholders of Novartis AG | (7,506) | (7,368) | (6,987) |
Acquisitions of treasury shares | (10,652) | (3,057) | (2,842) |
Proceeds from exercised options and other treasury share transactions, net | 100 | 53 | 748 |
Increase in non-current financial debts | 16 | 16 | 7,126 |
Repayments of the current portion of non-current financial debts | (2,575) | (2,162) | (2,003) |
Change in current financial debts | 295 | (3,524) | 2,261 |
Payments of lease liabilities | (295) | (316) | (312) |
Impact of change in ownership of consolidated entities | (3) | (2) | |
Other financing cash flows, net | 55 | 97 | (147) |
Net cash flows used in financing activities from continuing operations | (20,562) | (16,264) | (2,158) |
Net cash flows used in financing activities from discontinued operations | (50) | ||
Net cash flows used in financing activities | (20,562) | (16,264) | (2,208) |
Net change in cash and cash equivalents before effect of exchange rate changes | (4,858) | 3,015 | (1,740) |
Effect of exchange rate changes on cash and cash equivalents | (32) | (266) | 286 |
Net change in cash and cash equivalents | (4,890) | 2,749 | (1,454) |
Cash and cash equivalents at beginning of period | 12,407 | 9,658 | 11,112 |
Cash and cash equivalents at end of period | $ 7,517 | $ 12,407 | $ 9,658 |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2022 | |
Significant Accounting Policies [abstract] | |
Significant accounting policies | 1. Significant accounting policies The Novartis Group (Novartis or Group) is a multinational group of companies specializing in the research, development, manufacturing and marketing of a broad range of innovative pharmaceuticals and cost-saving generic medicines. The Group is headquartered in Basel, Switzerland. The consolidated financial statements of the Group are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). They are prepared in accordance with the historical cost convention, except for items that are required to be accounted for at fair value. The Group’s financial year-end is December 31, which is also the annual closing date of the individual entities’ financial statements incorporated into the Group’s consolidated financial statements. The preparation of financial statements requires management to make certain estimates and assumptions, either at the balance sheet date or during the year, which affect the reported amounts of revenues, expenses, assets, liabilities and contingent amounts. Estimates are based on historical experience and other assumptions that are considered reasonable under the given circumstances and are regularly monitored. Actual outcomes and results could differ from those estimates and assumptions. Revisions to estimates are recognized in the period in which the estimate is revised. Listed below are accounting policies of significance to Novartis or, in cases where IFRS provides alternatives, the option adopted by Novartis. Scope of consolidation The consolidated financial statements include all entities, including structured entities, over which Novartis AG, Basel, Switzerland, directly or indirectly has control (generally as a result of owning more than 50% of the entity’s voting interest). Consolidated entities are also referred to as “subsidiaries.” In cases where Novartis does not fully own a subsidiary, it has elected to value any remaining outstanding non-controlling interest at the time of acquiring control of the subsidiary at its proportionate share of the fair value of the net identified assets. Investments in associated companies (generally defined as investments in entities in which Novartis holds between 20% and 50% of voting shares or over which it otherwise has significant influence) and joint ventures are accounted for using the equity method, except for selected venture fund investments for which the Group has elected to apply the method of fair value through the consolidated income statement. Foreign currencies The consolidated financial statements of Novartis are presented in US dollars (USD). The functional currency of a subsidiary is generally the local currency of that respective entity. The functional currency used for the reporting of certain Swiss and foreign finance entities is USD instead of their respective local currencies. This reflects the fact that the cash flows and transactions of these entities are primarily denominated in this currency. For subsidiaries not operating in hyperinflationary economies, the subsidiary’s results, financial position and cash flows that do not have USD as their functional currency are translated into USD using the following exchange rates: • Income, expense and cash flows for each month using the average exchange rate, with the US dollar values for each month being aggregated during the year • Balance sheet using year-end exchange rates • Resulting exchange rate differences are recognized in other comprehensive income For subsidiaries operating in hyperinflationary economies, the impact of the restatement of the non-monetary assets and liabilities with the general price index at the beginning of the period is recorded in retained earnings in equity. The subsequent gains or losses resulting from the restatement of non-monetary assets are recorded in “Other financial income and expense” in the consolidated income statement. Non-current assets held for sale or held for distribution to owners Non-current assets are accounted for as assets held for sale or as related to discontinued operations when their carrying amount is to be recovered principally through a sale transaction or distribution to owners and a sale or distribution to owners is considered highly probable. They are stated at the lower of carrying amount and fair value less costs to sell and any resulting impairment is recognized. Assets related to discontinued operations and assets of a disposal group held for sale are not depreciated or amortized. The prior year consolidated balance sheet is not restated. If in a subsequent period, the criteria for classification as held for sale are no longer met, the recoverable amount of assets and liabilities are reclassified out of assets held for sale into the respective balance sheet lines and the prior year consolidated balance sheet is not restated. The cumulative amount of depreciation and amortization not recorded since the date of their classification as assets held for sale, and any required adjustments to the recoverable amounts of assets are recognized in the consolidated income statement. Acquisition of assets and businesses Assets separately acquired are recorded at cost, which includes the purchase price and any directly attributable costs for bringing the asset into the condition to operate as intended. Expected costs for obligations to dismantle and remove property, plant and equipment and restore the site when it is no longer used are included in their cost. Acquired businesses are accounted for by applying the acquisition method, unless the optional concentration test is applied. The optional concentration test allows for an election on a transaction-by-transaction basis to account for the acquired business as an asset separately acquired when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The acquisition method requires that the assets acquired and liabilities assumed be recorded at their respective fair values on the date the Group obtains control. The excess of the fair value of the total purchase consideration transferred over the fair value of the acquired assets and assumed liabilities is recognized as goodwill. The valuations are based on information available at the acquisition date. Acquisition related costs are expensed as incurred. The application of the acquisition method requires certain estimates and assumptions to be made, especially concerning the fair values of the acquired intangible assets, inventories, property, plant and equipment and the liabilities assumed at the acquisition date, and the useful lives of the intangible assets and property, plant and equipment. Estimates of fair value require the use of valuation techniques. These valuations require the use of management assumptions and estimates, including the value of comparable assets in the market, amount and timing of future cash flows, outcomes and costs of research and development activities, probability of obtaining regulatory approval, long-term sales forecasts, actions of competitors, discount rates and terminal growth rates. The section “—Impairment of goodwill and intangible assets” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. Property, plant and equipment Property, plant and equipment is depreciated on a straight-line basis in the consolidated income statement over the estimated useful life of the individual asset. Freehold land is not depreciated. The related depreciation expense is included in the costs of the functions using the asset. Property, plant and equipment is assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections over the useful life. The following table shows the estimated useful life by major categories for property, plant and equipment: Useful life Buildings 20 to 40 years Machinery and other equipment Machinery and equipment 7 to 20 years Furniture and vehicles 5 to 10 years Computer hardware 3 to 7 years Government grants obtained for construction activities, including any related equipment, are deducted from the gross acquisition cost to arrive at the balance sheet carrying value of the related assets. Leases and right-of-use assets As lessee, at inception and upon the modification of a contract, the Group assesses whether the contract contains a lease. The Group elected to allocate the consideration in the contract to the lease and non-lease components on the basis of the relative standalone price of each component. The Group recognizes a right-of-use asset and a corresponding lease liability for all arrangements in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low-value leases. For these short-term and low-value leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease. The lease liability is initially measured at the present value of the future lease payments as from the commencement date of the lease to the end of the lease term. The lease term includes the period of any lease extension that management assess as reasonably certain to be exercised by the Group. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, the Novartis incremental borrowing rate for the asset subject to the lease in the relevant market. The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever there is a change to the lease terms or expected payments under the lease, or a modification that is not accounted for as a separate lease. The portion of the lease payments attributable to the repayment of lease liabilities is recognized in cash flows used in financing activities, and the portion attributable to the payment of interest is included in cash flows from operating activities. Right-of-use assets are initially recognized on the balance sheet at cost, which comprises the amount of the initial measurement of the corresponding lease liability, adjusted for any lease payments made at or prior to the commencement date of the lease, any lease incentive received, and any initial direct costs incurred by Novartis, and expected costs for obligations to dismantle and remove right-of-use assets when they are no longer used. Right-of-use assets are depreciated on a straight-line basis from the commencement date of the lease over the shorter of the useful life of the right-of-use asset or the end of the lease term. Right-of-use assets are assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections for the useful life. In arrangements where the Group is the lessor, it determines at lease inception whether the lease is a finance lease or an operating lease. Leases that transfer substantially all of the risk and rewards incidental to ownership of the underlying asset to the counterparty (the lessee) are accounted for as finance leases. Leases that do not transfer substantially all of the risks and rewards of ownership are accounted for as operating leases. Operating lease payments received are recognized on a straight-line basis over the lease term in the consolidated income statement in “Other income.” Goodwill and intangible assets Goodwill Goodwill arises on applying the acquisition method on the acquisition of a business and is the excess of the fair value of the consideration transferred to acquire the business over the underlying fair value of the net identified assets acquired. It is allocated to groups of cash-generating units (CGUs), that are expected to benefit from the synergies of the combination, and which are usually represented by the reported segments. Goodwill is tested for impairment annually at the level of these groups of CGUs, and any impairment charges are recorded under “Other expense” in the consolidated income statement. Intangible assets available for use Novartis has the following classes of available for use intangible assets: currently marketed products; technologies and other intangible assets (including software). Currently marketed products represent the composite value of acquired intellectual property (IP), patents, distribution rights and product trade names. Technologies represent identified and separable acquired know-how used in the research, development and production processes. Significant investments in internally developed and acquired computer software are capitalized and included in the “Other” category, and amortized once available for use. Intangible assets available for use with a definite useful life are amortized over their estimated useful lives on a straight-line basis and are evaluated for potential impairment whenever facts and circumstances indicate that their carrying value may not be recoverable. The following table shows the estimated useful life by major categories for intangible assets available for use and the line in the consolidated income statement in which the amortization and any potential impairment charge is recognized: Income statement line Currently marketed products 5 to 20 years "Cost of goods sold" Technologies 10 to 20 years "Cost of goods sold" or "Research and development" Other (including software) 3 to 12 years In the relevant functional expense Intangible assets not yet available for use Acquired research and development intangible assets that have not yet obtained marketing approval are recognized as in-process research and development (IPR&D). IPR&D is not amortized, but is evaluated for potential impairment on an annual basis or when facts and circumstances warrant. Any impairment charge is recorded in the consolidated income statement under “Research and development.” Once a project included in IPR&D has received marketing approval from a regulatory authority, it is transferred to the “Currently marketed products” category. Impairment of goodwill and intangible assets An asset, a CGU or a grouping of CGUs is considered impaired when its balance sheet carrying amount exceeds its estimated recoverable amount, which is defined as the higher of its fair value less costs of disposal and its value in use. Usually, Novartis applies the fair value less costs of disposal method for its impairment assessment. In most cases, no directly observable market inputs are available to measure the fair value less costs of disposal. Therefore, an estimate is derived indirectly and is based on net present value techniques utilizing post-tax cash flows and discount rates. In the limited cases where the value-in-use method would be applied, net present value techniques would be applied using pre-tax cash flows and discount rates. Fair value less costs of disposal reflects estimates of assumptions that market participants would be expected to use when pricing the asset or CGU, and for this purpose, management considers the range of economic conditions that are expected to exist over the remaining useful life of the asset. These valuations are classified as “Level 3” in the fair value hierarchy. The estimates used in calculating the net present values are highly sensitive and depend on assumptions specific to the nature of the Group’s activities with regard to: • Amount and timing of projected future cash flows • Sales forecasts • Actions of competitors (launch of competing products, marketing initiatives, etc.) • Sales erosion rates after the end of patent or other intellectual property rights protection, and timing of the entry of generic competition • Outcome of research and development activities (compound efficacy, results of clinical trials, etc.) • Amount and timing of projected costs to develop IPR&D into commercially viable products • Profit margins • Probability of obtaining regulatory approval • Future tax rate • Appropriate terminal growth rate • Appropriate discount rate Generally, for intangible assets with a definite useful life, Novartis uses cash flow projections for the whole useful life of these assets. For goodwill, Novartis generally utilizes cash flow projections for a three-year period based on management forecasts, with a terminal value based on cash flow projections usually in line with inflation rates for later periods. Probability-weighted scenarios are typically used. Discount rates used consider the Group’s estimated weighted average cost of capital, adjusted for specific asset, country and currency risks associated with cash flow projections, to approximate the discount rate that market participants would use to value the asset. Due to the above factors, actual cash flows and values could vary significantly from forecasted future cash flows and related values derived using discounting techniques. Cash and cash equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less, which are readily convertible to known amounts of cash. Bank overdrafts are presented within current financial debts on the consolidated balance sheet. Marketable securities, commodities and non-current financial assets Commodities, which include gold bullion or coins, are valued at the lower of cost or fair value using current market prices. The changes in fair value below cost are immediately recorded in “Other financial income and expense.” Marketable securities are financial assets held for short-term purposes which are principally traded in liquid markets and are classified within current assets on the consolidated balance sheet. The financial impacts related to these financial assets are recorded in “Other financial income and expense” in the consolidated income statement. Non-current financial assets held for long-term strategic purposes are classified within non-current assets on the consolidated balance sheet. The financial impacts related to these financial assets are recorded in “Other income” and “Other expense” in the consolidated income statement. Marketable securities and non-current financial assets are initially recorded at fair value on their trade date, which is different from the settlement date when the transaction is ultimately effected. Quoted securities are remeasured at each reporting date to fair value based on current market prices. If the market for a financial asset is not active or no market is available, fair values are established using valuation techniques. The majority of non-quoted investments are initially valued at fair value through the purchase price established between a willing buyer and seller. Non-quoted investments are subsequently adjusted based on values derived from discounted cash flow analysis or other pricing models. These investment values are classified as “Level 3” in the fair value hierarchy. The Group classifies and accounts for its marketable securities and non-current financial assets in the following categories: • Debt securities are valued at fair value through other comprehensive income with subsequent recycling into the consolidated income statement, as they meet both the “solely payment of principal and interest” and the business model criteria. Unrealized gains and losses, except exchange gains and losses, are recorded as a fair value adjustment in the consolidated statement of comprehensive income. They are recognized in the consolidated income statement when the debt instrument is sold, at which time the gain is transferred to “Other financial income and expense.” Exchange gains and losses related to debt instruments are immediately recognized in the consolidated income statement in “Other financial income and expense.” • Fund investments and equity securities of the Novartis Venture Fund are valued at fair value through profit and loss (FVPL). Unrealized gains and losses, including exchange gains and losses, are recognized in the consolidated income statement in “Other income” for gains and “Other expense” for losses. • Equity securities held as strategic investments, typically held outside of the Novartis Venture Fund, are generally designated at the date of acquisition as financial assets valued at fair value through other comprehensive income with no subsequent recycling through profit and loss. Unrealized gains and losses, including exchange gains and losses, are recorded as a fair value adjustment in the consolidated statement of comprehensive income. They are reclassified to retained earnings when the equity security is sold. If these equity securities are not designated at the date of acquisition as financial assets valued at fair value through other comprehensive income, they are valued at FVPL, as described above. • Other non-current financial assets, such as loans and long-term receivables from customers, advances and other deposits, are valued at amortized cost, which reflects the time value of money less any allowances for expected credit losses. The Group assesses on a forward-looking basis the expected credit losses associated with its debt securities valued at fair value through other comprehensive income. Impairments on debt securities are recorded in “Other financial income and expense.” For other financial assets valued at amortized cost, impairments, which are based on their expected credit losses, and exchange rate losses are included in “Other expense” in the consolidated income statement. Exchange rate gains and interest income, using the effective interest rate method, are included in “Other income” or “Other financial income” in the consolidated income statement, depending on the nature of the item. Derivative financial instruments Derivative financial instruments are initially recognized in the balance sheet at fair value and are remeasured to their current fair value at the end of each subsequent reporting period. The valuation of a forward exchange rate contract is based on the discounted cash flow model, using interest rate curves and forward rates at the reporting date as observable inputs. Options are valued based on a modified Black-Scholes model using volatility and exercise prices as major observable inputs. The Group enters into certain derivative financial instruments for the purpose of hedging to reduce the volatility in the Group’s performance due to the exposure to various business-related risks. The risk mitigation is obtained because the derivative’s value or cash flows are expected, wholly or partly, to offset changes in the value or cash flows of the recognized assets or liabilities. The overall strategy is aiming to mitigate the currency and interest rate risk of positions that are contractually agreed, and to partially mitigate the exposure risk of selected anticipated transactions. Certain derivative financial instruments meet the criteria for hedge accounting treatment. A prerequisite for obtaining this accounting-hedge relationship is extensive documentation on inception and proving on a regular basis that the economic hedge is effective for accounting purposes. Other derivative financial instruments do not meet the criteria to qualify for hedge accounting or are not designated in a hedge relationship. Changes in the fair value of these derivative instruments are recognized immediately in “Other financial income and expense” in the consolidated income statement. In addition, the Group has designated certain long-term debt components as hedges of the translation risk arising on certain net investments in foreign operations. On consolidation, foreign currency differences arising on long-term debt designated as net investment hedges of a foreign operation are recognized in other comprehensive income and accumulated in currency translation effects, to the extent that the hedge is effective. The foreign currency differences arising from hedge ineffectiveness are recognized in the income statement in “Other financial income and expense.” When a hedged net investment is disposed of, the proportionate portion of the cumulative amount recognized in equity in relation to the hedged net investment is transferred to the consolidated income statement as an adjustment to the gain or loss on disposal. Inventories Inventory is valued at the lower of acquisition or production cost determined on a first-in, first-out basis and net realizable value. This value is used for the “Cost of goods sold” in the consolidated income statement. Unsaleable inventory is fully written off in the consolidated income statement under “Cost of goods sold.” Trade receivables Trade receivables are initially recognized at their invoiced amounts, including any related sales taxes less adjustments for estimated revenue deductions such as rebates, chargebacks and cash discounts. Provisions for doubtful trade receivables are established using a forward-looking expected credit loss model (ECL), which includes possible default events on the trade receivables over the entire holding period of the trade receivable. These provisions represent the difference between the trade receivable’s carrying amount in the consolidated balance sheet and the estimated collectible amount. Charges for doubtful trade receivables are recorded as marketing and selling costs recognized in the consolidated income statement within “Selling, general and administration” expenses. Legal and environmental liabilities Novartis and its subsidiaries are subject to contingencies arising in the ordinary course of business, such as patent litigation, environmental remediation liabilities and other product-related and commercial litigation, and governmental investigations and proceedings. A provision is recorded when there is a probable outflow of resources for which a reliable estimate can be made of the outcome of the legal or other disputes against the subsidiary. Contingent consideration In the acquisition or divestment of a business, it is necessary to recognize contingent future amounts due to previous owners, representing contractually defined potential amounts as a liability or an asset. Usually for Novartis, these are linked to milestone or royalty payments related to certain assets and are recognized as a financial liability or financial asset at fair value, which is then remeasured at each subsequent reporting date. These estimations typically depend on factors such as technical milestones or market performance, and are adjusted for the probability of their likelihood of payment, and are appropriately discounted to reflect the impact of time. Changes in the fair value of contingent consideration liabilities in subsequent periods are recognized in the consolidated income statement in “Cost of goods sold” for currently marketed products and in “Research and development” for IPR&D. Changes in contingent consideration assets are recognized in “Other income” or “Other expense,” depending on their nature. The effect of unwinding the discount over time is recognized for contingent consideration liabilities in “Interest expense” and for contingent consideration assets as interest income recognized in the consolidated income statement within “Other financial income and expense.” Defined benefit pension plans and other post-employment benefits The liability in respect of defined benefit pension plans and other post-employment benefits is the defined benefit obligation calculated annually by independent actuaries using the projected unit credit method. The current service cost for such post-employment benefit plans is included in the personnel expenses of the various functions in which employees are employed, while the net interest on the net defined benefit liability or asset is recognized as “Other expense” or “Other income.” Treasury shares Treasury shares are initially recorded at fair value on their trade date, which is different from the settlement date, when the transaction is ultimately effected. Treasury shares are deducted from consolidated equity at their nominal value of CHF 0.50 per share. Differences between the nominal amount and the transaction price on purchases or sales of treasury shares with third parties, or the value of services received for the shares allocated to employees as part of share-based compensation arrangements, are recorded in “Retained earnings” in the consolidated statement of changes in equity. Revenue recognition Revenue on the sale of Novartis Group products and services, which is recorded as “Net sales to third parties” in the consolidated income statement, is recognized when a contractual promise to a customer (performance obligation) has been fulfilled by transferring control over the promised goods and services to the customer, substantially all of which is at the point in time of shipment to or receipt of the products by the customer or when the services are performed. If contracts contain customer acceptance provisions, revenue is recognized upon the satisfaction of the acceptance criteria. If a contract contains more than one performance obligation, the consideration is allocated based on the standalone selling price of each performance obligation. The amount of revenue recognized is based on the consideration Novartis expects to receive in exchange for its goods and services, when it is highly probable that a significant reversal will not occur. The consideration Novartis receives in exchange for its goods or services may be fixed or variable. Variable consideration is recognized when it is highly probable that a significant reversal will not occur. The most common elements of variable consideration are listed below. • Rebates and discounts granted to wholesalers, retailers, government agencies (including US Medicaid and US Federal Medicare programs), government supported healthcare systems, private health systems, pharmacy benefit managers, managed healthcare organizations, purchasing organizations and other direct and indirect customers, as well as chargebacks are provisioned and recorded as revenue deductions at the time the related revenues are recorded, or when the incentives are offered. These rebates and discounts, applied using provision rates, are estimated based on the terms and conditions in the individual states, plans and customer agreements, historical experience, product sales and growth rate, population growth, product pricing including inflation impacts, the mix of contracts and products, the level of inventory in the distribution channel, regulations, contracts, channels and payers, as appropriate to the individual rebate and discount arrangements. • Refunds granted to healthcare providers under innovative pay-for-performance agreements (i.e. outcome based arrangements) are provisioned and recorded as a revenue deduction at the time the related sales are recorded. They are calculated on the basis of historical experience and clinical data available for the product, as well as specific terms of the individual agreements. In cases where historical experience and clinical data are not sufficient for a reliable estimation of the outcome, revenue recognition is deferred until the uncertainty is resolved, until such history is available or the period when the refund right has expired. The provisions for revenue deductions under the innovative pay-for-performance agreements are adjusted periodically based on established processes and actual experience, including the products actual outcomes achieved compared with the anticipated predefined targets. • Cash discounts are offered to customers to encourage prompt payment and are provisioned and recorded as revenue deductions at the time the related sales are recorded. • Shelf stock adjustments are generally granted to customers, primarily of the Sandoz Division, to cover the inventory held by them at the time a price decline becomes effective. Revenue deduction provisions for shelf stock adjustments are recorded when the price decline is anticipated, based on the impact of the price decline on the customer’s estimated inventory levels. • Sales returns provisions are recognized and recorded as revenue deductions when there is historical experience of Novartis agreeing to customer returns and Novartis can reasonably estimate expected future returns. In doing so, the estimated rate of return is applied, determined on the basis of historical experience of customer returns and considering any other relevant factors. This is applied to the amounts invoiced, also considering the amount of returned products |
Significant transactions
Significant transactions | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of significant transactions [abstract] | |
Significant transactions | 2. Significant transactions The Group applied the acquisition method of accounting for businesses acquired, and did not elect to apply the optional concentration test to account for acquired business as an asset separately acquired. Significant transactions in 2022 Innovative Medicines – acquisition of Gyroscope Therapeutics Holdings plc On December 22, 2021, Novartis entered into an agreement to acquire all outstanding shares of Gyroscope Therapeutics Holdings plc (Gyroscope), a UK-based ocular gene therapy company. Gyroscope focuses on the discovery and development of gene therapy treatments for retinal indications. The purchase price consisted of a cash payment of USD 0.8 billion, subject to certain customary purchase price adjustments, and potential additional milestone payments of up to USD 0.7 billion, which Gyroscope shareholders are eligible to receive upon achievement of specified milestones. The acquisition closed on February 17, 2022. The fair value of the total purchase consideration was USD 1.0 billion. The amount consisted of an upfront cash payment of USD 0.8 billion (including customary purchase price adjustments) and the fair value of contingent consideration of USD 0.2 billion, which Gyroscope shareholders are eligible to receive upon achievement of specified milestones. The purchase price allocation resulted in net identifiable assets of USD 0.9 billion, consisting primarily of intangible assets of USD 1.1 billion and net deferred tax liabilities of USD 0.2 billion. Goodwill amounted to USD 0.1 billion. The results of operations since the date of acquisition are not material. Significant transactions in 2021 Sandoz – acquisition of GSK’s cephalosporin antibiotics business On February 10, 2021, Sandoz entered into an agreement with certain subsidiaries of GlaxoSmithKline plc (GSK) for the acquisition of the GSK’s cephalosporin antibiotics business. Under the agreement, Sandoz acquired the global rights to three established brands (Zinnat®, Zinacef® and Fortum®) in more than 100 markets. It excluded the rights in the US, Australia and Germany to certain of those brands, which were previously divested by GSK, and the rights in India, Pakistan, Egypt, Japan (to certain of the brands) and China, which will be retained by GSK. The transaction closed on October 8, 2021. The purchase price consisted of a USD 350 million upfront payment paid at closing and potential milestone payments up to USD 150 million, which GSK will be eligible to receive upon the achievement of certain annual sales milestones for the portfolio. The fair value of the total purchase consideration was USD 415 million. The amount consisted of a payment of USD 351 million, including purchase price adjustments, and the fair value of contingent consideration of USD 64 million, which GSK is eligible to receive upon the achievement of specified milestones. The purchase price allocation resulted in net identifiable assets of USD 308 million, consisting of USD 292 million intangible assets and USD 16 million deferred tax assets. Goodwill amounted to USD 107 million. The 2021 results of operations since the date of acquisition were not material. Corporate – divestment of the investment in Roche Holding AG On November 3, 2021, Novartis entered into a Share Repurchase Agreement with Roche Holding AG under which Novartis agreed to sell 53.3 million (approximately 33.3% The transaction closed on December 6, 2021. Novartis realized a gain of USD 14.6 billion, recorded in income from associated companies. Significant transactions in 2020 Innovative Medicines – acquisition of The Medicines Company On November 23, 2019, Novartis entered into an agreement and plan of merger (“the Merger Agreement”) with The Medicines Company, a US-based pharmaceutical company headquartered in Parsippany, New Jersey, USA. Pursuant to the Merger Agreement, on December 5, 2019, Novartis, through a subsidiary, commenced a tender offer to acquire all outstanding shares of The Medicines Company for USD 85 per share, or a total consideration of approximately USD 9.6 billion in cash on a fully diluted basis, including the equivalent share value related to The Medicines Company’s convertible notes, in accordance with their terms. The tender offer expired on January 3, 2020, and on January 6, 2020, the acquiring subsidiary merged with and into The Medicines Company, resulting in The Medicines Company becoming an indirect wholly owned subsidiary of Novartis. Novartis financed the transaction through available cash, and short- and long-term borrowings. The Medicines Company is focused on the development of inclisiran, a potentially first-in-class, twice yearly therapy that allows administration during patients’ routine visits to their healthcare professionals and will potentially contribute to improved patient adherence and sustained lower LDL-C levels. The fair value of the total purchase consideration was USD 9.6 billion. The purchase price allocation resulted in net identifiable assets of approximately USD 7.1 billion, consisting of USD 8.5 billion intangible assets, USD 1.4 billion net deferred tax liabilities and goodwill of approximately USD 2.5 billion. The 2020 results of operations since the date of acquisition were not material. Sandoz – acquisition of the Japanese business of Aspen Global Incorporated On November 11, 2019, Sandoz entered into an agreement for the acquisition of the Japanese business of Aspen Global Incorporated (AGI), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited. Under the agreement, Sandoz acquired the shares in Aspen Japan K.K. and associated assets held by AGI. The transaction closed on January 31, 2020. Aspen’s portfolio in Japan consisted of off-patent medicines with a focus on anesthetics and specialty brands. The acquisition will enable Sandoz to expand its presence in the third-largest worldwide generics marketplace. The purchase price consisted of EUR 274 million (USD 303 million) upfront payment, less customary purchase price adjustment of EUR 27 million (USD 30 million), plus potential milestone payments of up to EUR 70 million (USD 77 million), which AGI is eligible to receive upon the achievement of specified milestones. The fair value of the total purchase consideration was EUR 294 million (USD 324 million). The amount consisted of a cash payment of EUR 247 million (USD 273 million) and the fair value of contingent consideration of EUR 47 million (USD 51 million), which AGI is eligible to receive upon the achievement of specified milestones. The purchase price allocation resulted in net identifiable assets of USD 238 million, consisting of USD 196 million intangible assets, USD 26 million other net assets and USD 16 million net deferred tax assets. Goodwill amounted to USD 86 million. The 2020 results of operations since the date of acquisition were not material. Sandoz – retention of US dermatology business and generic US oral solids portfolio, previously planned to be divested On September 6, 2018, Novartis announced that it entered into a stock and asset purchase agreement (SAPA) with Aurobindo Pharma USA Inc. (Aurobindo) for the sale of selected portions of its Sandoz US portfolio, specifically the Sandoz US dermatology business and generic US oral solids portfolio, for USD 0.8 billion in cash and potential earnouts. The closing was conditional on obtaining regulatory approval. In March 2020, Novartis took the decision to retain the Sandoz US generic oral solids and dermatology businesses and on April 2, 2020 entered into a mutual agreement with Aurobindo to terminate the transaction. The decision was taken as approval from the US Federal Trade Commission for the transaction was not obtained within the agreed timelines. The cumulative amount of the depreciation on property, plant and equipment (USD 38 million) and amortization on intangible assets (USD 102 million) not recorded in the consolidated income statement since the date of classification as held for sale was recognized in the consolidated income statement in the first quarter of 2020. In addition, an impairment of currently marketed products of USD 42 million was recognized in the first quarter of 2020 consolidated income statement. As at March 31, 2020, the assets and liabilities of the Sandoz US generic oral solids and dermatology businesses were reclassified out of assets and liabilities of disposal group held for sale. The prior year balance sheet was not required to be restated. There were no cumulative income or expenses included in the other comprehensive income relating to the disposal group. |
Segmentation of key figures
Segmentation of key figures | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of operating segments [abstract] | |
Segmentation of key figures | 3. Segmentation of key figures 2022, 2021 and 2020 The businesses of Novartis are divided operationally on a worldwide basis into two identified reporting segments: Innovative Medicines and Sandoz. In addition, we separately report Corporate activities. Reporting segments are presented in a manner consistent with the internal reporting to the chief operating decision-maker, which is the Executive Committee of Novartis. The reporting segments are managed separately because they each research, develop, manufacture, distribute and sell distinct products that require differing marketing strategies. The Executive Committee of Novartis is responsible for allocating resources and assessing the performance of the reporting segments. The reporting segments are as follows: Innovative Medicines researches, develops, manufactures, distributes and sells patented pharmaceuticals. Effective as of April 4, 2022, the Innovative Medicines Division is organized in two commercial organizational units: Innovative Medicines International and Innovative Medicines US, and is focused on the core therapeutic areas: cardiovascular; immunology; neuroscience; solid tumors and hematology; as well as other promoted brands (in the therapeutic areas of ophthalmology and respiratory) and established brands. Prior to the announcement on April 4, 2022, the Innovative Medicines Division was organized into two global business units: Novartis Oncology and Novartis Pharmaceuticals. Sandoz develops, manufactures and markets finished dosage form medicines as well as intermediary products including active pharmaceutical ingredients. Sandoz is organized globally into three franchises: Retail Generics, Anti-Infectives and Biopharmaceuticals. In Retail Generics, Sandoz develops, manufactures and markets finished dosage forms of small molecule pharmaceuticals for sale to third parties across a broad range of therapeutic areas, including finished dosage form of anti-infectives sold to third parties. In Anti-Infectives, Sandoz manufactures and supplies active pharmaceutical ingredients and intermediates, mainly antibiotics, for internal use by Retail Generics and for sale to third-party customers. In Biopharmaceuticals, Sandoz develops, manufactures and markets protein- or other biotechnology-based products, including biosimilars, and provides biotechnology manufacturing services to other companies. Income and expenses relating to Corporate include the costs of the Group headquarters and those of corporate coordination functions in major countries. In addition, Corporate includes other items of income and expense that are not attributable to specific segments, such as certain revenues from intellectual property rights, certain expenses related to post-employment benefits, environmental remediation liabilities, charitable activities, donations and sponsorships. Usually, no allocation of Corporate items is made to the segments. As a result, Corporate assets and liabilities principally consist of net debt (cash and cash equivalents, marketable securities less financial debts), investments in associated companies, and current and deferred taxes and non-segment-specific environmental remediation and post-employment benefit liabilities. Our divisions are supported by Novartis Institutes for BioMedical Research, Global Drug Development, and the Operations unit. • The Novartis Institutes for BioMedical Research (NIBR) conducts research activities for the Innovative Medicines Division and also collaborates with Sandoz. • The Global Drug Development organization oversees all drug development activities for our Innovative Medicines Division and collaborates with our Sandoz Division on the development of its biosimilars portfolio. • The Operations unit, combines the Novartis Technical Operations (NTO) and Customer & Technology Solutions (CTS), following the internal reorganization announced on April 4, 2022. The Operations unit manages our manufacturing operations across our Innovative Medicines and Sandoz Divisions, and delivers business support services across the Group, such as information technology, real estate and facility services and procurement. The accounting policies mentioned in Note 1 are used in the reporting of segment results. Inter-segmental sales are made at amounts that are considered to approximate arm’s length transactions. The Executive Committee of Novartis evaluates segmental performance and allocates resources among the segments based on a number of measures, including net sales to third parties, operating income and net operating assets. Segment net operating assets consist primarily of property, plant and equipment; right-of-use assets; intangible assets; goodwill; inventories; and trade and other operating receivables less operating liabilities. Segmentation – consolidated income statements Innovative Medicines Sandoz Corporate (including eliminations) 1 Group (USD millions) 2022 2021 2022 2021 2022 2021 2022 2021 Net sales to third parties 41 296 41 995 9 249 9 631 50 545 51 626 Sales to other segments 825 795 205 180 -1 030 -975 Net sales 42 121 42 790 9 454 9 811 -1 030 -975 50 545 51 626 Other revenues 1 249 1 179 28 61 6 11 1 283 1 251 Cost of goods sold -11 569 -11 751 -4 978 -5 147 1 061 1 031 -15 486 -15 867 Gross profit 31 801 32 218 4 504 4 725 37 67 36 342 37 010 Selling, general and administration -11 679 -12 306 -2 062 -2 062 -512 -518 -14 253 -14 886 Research and development -9 172 -8 641 -824 -899 -9 996 -9 540 Other income 531 1 149 103 233 171 470 805 1 852 Other expense -2 695 -1 732 -273 -397 -733 -618 -3 701 -2 747 Operating income 8 786 10 688 1 448 1 600 -1 037 -599 9 197 11 689 (Loss)/income from associated companies -2 5 2 2 -9 15 332 -9 15 339 Interest expense -837 -811 Other financial income and expense 20 -80 Income before taxes 8 371 26 137 Income taxes -1 416 -2 119 Net income 6 955 24 018 Attributable to: Shareholders of Novartis AG 6 955 24 021 Non-controlling interests 0 -3 Included in net income are: Interest income 379 71 Depreciation of property, plant and equipment -837 -859 -204 -210 -122 -139 -1 163 -1 208 Depreciation of right-of-use assets -252 -265 -33 -39 -15 -14 -300 -318 Amortization of intangible assets -3 728 -3 638 -222 -238 -32 -27 -3 982 -3 903 Impairment charges on property, plant and equipment, net -407 -271 -9 -1 -407 -281 Impairment of right-of-use assets -3 -3 Impairment charges on intangible assets, net -1 299 -367 -25 -28 -2 -8 -1 326 -403 Impairment charges and fair value changes on financial assets, net -134 43 -126 -5 -260 38 Additions to restructuring provisions -1 069 -240 -40 -62 -259 -26 -1 368 -328 Equity-based compensation of Novartis equity plans -706 -721 -62 -65 -280 -193 -1 048 -979 1 Innovative Medicines Sandoz Corporate (including eliminations) 1 Group (USD millions) 2021 2020 2021 2020 2021 2020 2021 2020 Net sales to third parties 41 995 39 013 9 631 9 646 51 626 48 659 Sales to other segments 795 792 180 189 -975 -981 Net sales 42 790 39 805 9 811 9 835 -975 -981 51 626 48 659 Other revenues 1 179 1 018 61 53 11 168 1 251 1 239 Cost of goods sold -11 751 -10 927 -5 147 -5 252 1 031 1 058 -15 867 -15 121 Gross profit 32 218 29 896 4 725 4 636 67 245 37 010 34 777 Selling, general and administration -12 306 -11 657 -2 062 -2 076 -518 -464 -14 886 -14 197 Research and development -8 641 -8 118 -899 -862 -9 540 -8 980 Other income 1 149 922 233 176 470 644 1 852 1 742 Other expense -1 732 -1 871 -397 -831 -618 -488 -2 747 -3 190 Operating income 10 688 9 172 1 600 1 043 -599 -63 11 689 10 152 Income from associated companies 5 1 2 2 15 332 670 15 339 673 Interest expense -811 -869 Other financial income and expense -80 -78 Income before taxes 26 137 9 878 Income taxes -2 119 -1 807 Net income 24 018 8 071 Attributable to: Shareholders of Novartis AG 24 021 8 072 Non-controlling interests -3 -1 Included in net income are: Interest income 71 91 Depreciation of property, plant and equipment -859 -912 -210 -282 -139 -124 -1 208 -1 318 Depreciation of right-of-use assets -265 -273 -39 -41 -14 -16 -318 -330 Amortization of intangible assets -3 638 -3 080 -238 -370 -27 -12 -3 903 -3 462 Impairment charges on property, plant and equipment, net -271 -324 -9 -116 -1 -281 -440 Impairment charges on intangible assets, net -367 -768 -28 -141 -8 -5 -403 -914 Impairment charges and fair value changes on financial assets, net 43 153 -5 182 38 335 Additions to restructuring provisions -240 -217 -62 -98 -26 -39 -328 -354 Equity-based compensation of Novartis equity plans -721 -714 -65 -64 -193 -180 -979 -958 1 Segmentation – consolidated balance sheets Innovative Medicines Sandoz Corporate (including eliminations) 1 Group (USD millions) 2022 2021 2022 2021 2022 2021 2022 2021 Total assets 75 510 79 220 16 078 16 192 25 865 36 383 117 453 131 795 Total liabilities -16 966 -15 929 -3 710 -3 632 -37 354 -44 412 -58 030 -63 973 Total equity 59 423 67 822 Net debt 2 7 245 868 7 245 868 Net operating assets 58 544 63 291 12 368 12 560 -4 244 -7 161 66 668 68 690 Included in assets and liabilities are: Total property, plant and equipment 8 488 9 168 1 861 1 901 415 476 10 764 11 545 Additions to property, plant and equipment 3 842 991 292 349 85 90 1 219 1 430 Total right-of-use assets 1 233 1 349 90 104 108 108 1 431 1 561 Additions to right-of-use assets 3 196 222 31 26 20 73 247 321 Total goodwill and intangible assets 51 357 53 919 9 230 9 603 358 255 60 945 63 777 Additions to goodwill and intangible assets 3 1 791 1 491 163 102 139 143 2 093 1 736 Total investment in associated companies 107 170 9 7 27 28 143 205 Additions to investment in associated companies 25 24 13 19 38 43 Cash and cash equivalents, marketable securities, commodities, time deposits and derivative financial instruments 18 930 28 329 18 930 28 329 Financial debts and derivative financial instruments 26 175 29 197 26 175 29 197 Current income tax liabilities and deferred tax liabilities 5 219 5 485 5 219 5 485 1 2 3 The following table shows countries that accounted for more than 5% of at least one of the respective Group totals, as well as regional information for net sales to third parties for the years ended December 31, 2022, 2021 and 2020, and for selected non-current assets for the years ended December 31, 2022 and 2021: Net sales to third parties 1 Total of selected non-current assets 2 (USD millions) 2022 % 2021 % 2020 % 2022 % 2021 % Country Switzerland 970 2 873 2 800 2 23 708 32 25 770 33 United States 17 653 35 16 818 33 16 484 34 35 353 48 37 054 48 France 2 257 4 2 522 5 2 442 5 3 188 4 3 615 5 Germany 4 278 8 4 870 9 4 518 9 2 229 3 2 378 3 China 3 128 6 3 052 6 2 573 5 599 1 703 1 Japan 2 205 4 2 683 5 2 804 6 165 217 Other 20 054 41 20 808 40 19 038 39 8 241 12 7 351 10 Group 50 545 100 51 626 100 48 659 100 73 483 100 77 088 100 Region Europe 18 467 37 20 197 39 18 715 38 35 896 49 37 525 49 Americas 21 536 42 20 463 40 19 725 41 35 806 49 37 522 49 Asia/Africa/Australasia 10 542 21 10 966 21 10 219 21 1 781 2 2 041 2 Group 50 545 100 51 626 100 48 659 100 73 483 100 77 088 100 1 2 The Group’s largest, second-largest and third-largest customers account for approximately 16% 11% 7% 17% 11% 6% 17% 11% 6% The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 16% 14% 7% 16% 12% 7% Segmentation – net sales to third parties Net sales to third parties by region 1 Change Change Innovative Medicines Europe 13 554 14 919 -9 13 484 11 US 15 899 14 999 6 14 342 5 Asia/Africa/Australasia 8 929 9 304 -4 8 718 7 Canada and Latin America 2 914 2 773 5 2 469 12 Total 41 296 41 995 -2 39 013 8 Of which in Established Markets 30 548 31 459 -3 29 643 6 Of which in Emerging Growth Markets 10 748 10 536 2 9 370 12 Sandoz Europe 4 913 5 278 -7 5 231 1 US 1 754 1 819 -4 2 142 -15 Asia/Africa/Australasia 1 613 1 662 -3 1 501 11 Canada and Latin America 969 872 11 772 13 Total 9 249 9 631 -4 9 646 0 Of which in Established Markets 6 460 6 855 -6 7 089 -3 Of which in Emerging Growth Markets 2 789 2 776 0 2 557 9 Group Europe 18 467 20 197 -9 18 715 8 US 17 653 16 818 5 16 484 2 Asia/Africa/Australasia 10 542 10 966 -4 10 219 7 Canada and Latin America 3 883 3 645 7 3 241 12 Total 50 545 51 626 -2 48 659 6 Of which in Established Markets 37 008 38 314 -3 36 732 4 Of which in Emerging Growth Markets 13 537 13 312 2 11 927 12 1 Innovative Medicines Division net sales to third parties by core therapeutic area; other promoted brands; and established brands 1 Change 1 Change Cardiovascular Entresto 4 644 3 548 31 2 497 42 Leqvio 112 12 nm nm Total Cardiovascular 4 756 3 560 34 2 497 43 Immunology Cosentyx 4 788 4 718 1 3 995 18 Xolair 2 1 365 1 428 -4 1 251 14 Ilaris 1 133 1 059 7 873 21 Other 1 nm nm Total Immunology 7 287 7 205 1 6 119 18 Neuroscience Gilenya 2 013 2 787 -28 3 003 -7 Zolgensma 1 370 1 351 1 920 47 Kesimpta 1 092 372 194 15 nm Mayzent 357 281 27 170 65 Aimovig 218 215 1 164 31 Other 1 1 0 nm Total Neuroscience 5 051 5 007 1 4 272 17 Solid Tumors Tafinlar Mekinist 1 770 1 693 5 1 542 10 Kisqali 1 231 937 31 687 36 Votrient 474 577 -18 635 -9 Lutathera 471 475 -1 445 7 Piqray 373 329 13 320 3 Pluvicto 271 nm 2 nm Tabrecta 133 90 48 35 157 Total Solid Tumors 4 723 4 101 15 3 666 12 Hematology Promacta/Revolade 2 088 2 016 4 1 738 16 Tasigna 1 923 2 060 -7 1 958 5 Jakavi 1 561 1 595 -2 1 339 19 Kymriah 536 587 -9 474 24 Adakveo 194 164 18 105 56 Scemblix 149 7 nm nm Other 1 1 0 3 -67 Total Hematology 6 452 6 430 0 5 617 14 1 Change 1 Change Other Promoted Brands Lucentis 1 874 2 160 -13 1 933 12 Xiidra 487 468 4 376 24 Ultibro 479 584 -18 623 -6 Beovu 203 186 9 190 -2 Other respiratory 84 53 58 26 104 Total Other Promoted Brands 3 127 3 451 -9 3 148 10 Total Promoted Brands 31 396 29 754 6 25 319 18 Established Brands Sandostatin 1 238 1 413 -12 1 439 -2 Galvus 859 1 092 -21 1 199 -9 Gleevec/Glivec 745 1 024 -27 1 188 -14 Exforge 743 901 -18 980 -8 Diovan 652 773 -16 1 003 -23 Afinitor/Votubia 512 938 -45 1 083 -13 Voltaren/Cataflam 334 373 -10 360 4 Zortress/Certican 329 431 -24 452 -5 Exjade/Jadenu 323 563 -43 653 -14 Neoral/Sandimmun(e) 310 368 -16 393 -6 Contract manufacturing 214 108 98 nm Other 3 641 4 257 -14 4 944 -14 Total Established Brands 9 900 12 241 -19 13 694 -11 Total division net sales to third parties 41 296 41 995 -2 39 013 8 1 2 Xolair Net sales to third parties of the top 20 Innovative Medicines Division brands in 2022 Brand classification by Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA) 2 770 2 018 4 788 Entresto Cardiovascular Chronic heart failure, hypertension 2 354 2 290 4 644 Promacta/Revolade Hematology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 1 083 1 005 2 088 Gilenya Neuroscience Relapsing multiple sclerosis (RMS) 1 153 860 2 013 Tasigna Hematology Chronic myeloid leukemia (CML) 877 1 046 1 923 Lucentis Other Promoted Brands Age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO) 1 874 1 874 Tafinlar Mekinist Solid Tumors BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC), tumor agnostic with BRAF mutation indication 678 1 092 1 770 Jakavi Hematology Myelofibrosis (MF), polycytomia vera (PV), graft-versus-host disease (GvHD) 1 561 1 561 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 434 936 1 370 Xolair 1 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU), nasal polyps 1 365 1 365 Sandostatin Established Brands Carcinoid tumors, acromegaly 800 438 1 238 Kisqali Solid Tumors HR+/HER2- metastatic breast cancer 472 759 1 231 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD, gout) 570 563 1 133 Kesimpta Neuroscience Relapsing-remitting multiple sclerosis (RRMS) 921 171 1 092 Galvus Established Brands Type 2 diabetes 859 859 Gleevec/Glivec Established Brands Chronic myeloid leukemia (CML), gastrointestinal stromal tumors (GIST) 205 540 745 Exforge Established Brands Hypertension 14 729 743 Diovan Established Brands Hypertension 55 597 652 Kymriah Hematology r/r pediatric and young adults acute lymphoblastic leukemia (ALL), diffuse large B-cell lymphoma (DLBCL), follicular lymphoma (FL) 196 340 536 Afinitor/Votubia Established Brands Breast cancer/ tuberous sclerosis complex (TSC) 171 341 512 Top 20 brands total 12 753 19 384 32 137 Rest of portfolio 3 146 6 013 9 159 Total division net sales to third parties 15 899 25 397 41 296 1 Xolair Net sales to third parties of the top 20 Innovative Medicines Division brands in 2021 Brand classification by 1 Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA) 2 883 1 835 4 718 Entresto Cardiovascular Chronic heart failure 1 712 1 836 3 548 Gilenya Neuroscience Relapsing multiple sclerosis (RMS) 1 427 1 360 2 787 Lucentis Other Promoted Brands Age-related macular degeneration (AMD) 2 160 2 160 Tasigna Hematology Chronic myeloid leukemia (CML) 882 1 178 2 060 Promacta/Revolade Hematology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 947 1 069 2 016 Tafinlar Mekinist Solid Tumors BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC) 606 1 087 1 693 Jakavi Hematology Myelofibrosis (MF), polycythemia vera (PV) 1 595 1 595 Xolair 2 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU), nasal polyps 1 428 1 428 Sandostatin Established Brands Carcinoid tumors, acromegaly 843 570 1 413 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 469 882 1 351 Galvus Established Brands Type 2 diabetes 1 092 1 092 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD, gout) 501 558 1 059 Gleevec/Glivec Established Brands Chronic myeloid leukemia (CML), gastrointestinal stromal tumors (GIST) 263 761 1 024 Afinitor/Votubia Established Brands Breast cancer/ tuberous sclerosis complex (TSC) 521 417 938 Kisqali Solid Tumors HR+/HER2- metastatic breast cancer 339 598 937 Exforge Established Brands Hypertension 14 887 901 Diovan Established Brands Hypertension 51 722 773 Kymriah Hematology r/r pediatric and young adults acute lymphoblastic leukemia (ALL), diffuse large B-cell lymphoma (DLBCL) 230 357 587 Ultibro Other Promoted Brands Cronic obstructive pulmonary disease (COPD) 584 584 Top 20 products total 11 688 20 976 32 664 Rest of portfolio 3 311 6 020 9 331 Total division net sales to third parties 14 999 26 996 41 995 1 2 Xolair Net sales to third parties of the top 20 Innovative Medicines Division brands in 2020 Brand classification by 1 Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA) 2 516 1 479 3 995 Gilenya Neuroscience Relapsing multiple sclerosis (RMS) 1 562 1 441 3 003 Entresto Cardiovascular Chronic heart failure 1 277 1 220 2 497 Tasigna Hematology Chronic myeloid leukemia (CML) 859 1 099 1 958 Lucentis Other Promoted Brands Age-related macular degeneration (AMD) 1 933 1 933 Promacta/Revolade Hematology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 833 905 1 738 Tafinlar Mekinist Solid Tumors BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC) 569 973 1 542 Sandostatin Established Brands Carcinoid tumors, acromegaly 837 602 1 439 Jakavi Hematology Myelofibrosis (MF), polycythemia vera (PV) 1 339 1 339 Xolair 2 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU) 1 251 1 251 Galvus Established Brands Type 2 diabetes 1 199 1 199 Gleevec/Glivec Established Brands Chronic myeloid leukemia (CML), gastrointestinal stromal tumors (GIST) 315 873 1 188 Afinitor/Votubia Established Brands Breast cancer/ tuberous sclerosis complex (TSC) 644 439 1 083 Diovan Established Brands Hypertension 124 879 1 003 Exforge Established Brands Hypertension 16 964 980 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 459 461 920 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD gout) 400 473 873 Kisqali Solid Tumors HR+/HER2- metastatic breast cancer 318 369 687 Exjade/Jadenu Established Brands Chronic iron overload 138 515 653 Votrient Solid Tumors Renal cell carcinoma (RCC) 259 376 635 Top 20 products total 11 126 18 790 29 916 Rest of portfolio 3 216 5 881 9 097 Total division net sales to third parties 14 342 24 671 39 013 1 2 Xolair Sandoz Division net sales to third parties by business franchise Change Change Retail Generics 1 6 776 7 092 -4 7 244 -2 Biopharmaceuticals 2 093 2 116 -1 1 928 10 Anti-Infectives 1 380 423 -10 474 -11 Total division net sales to third parties 9 249 9 631 -4 9 646 0 1 Sandoz total anti-infectives net sales to third parties amounted to USD 1.2 billion (2021: USD 1.1 billion; 2020: USD 1.2 billion), of which USD 777 million (2021: USD 707 million; 2020: USD 694 million) is sold through the Retail Generics business franchise and USD 380 million (2021: USD 423 million; 2020: USD 474 million) is sold to other third-party companies through the Anti-Infectives business franchise. The product portfolio of Sandoz is widely spread in 2022, 2021 and 2020. Segmentation – other revenue Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 Profit-sharing income 921 873 835 921 873 835 Royalty income 28 74 107 18 24 25 6 11 168 52 109 300 Milestone income 145 127 39 3 28 11 148 155 50 Other 1 155 105 37 7 9 17 162 114 54 Total other revenues 1 249 1 179 1 018 28 61 53 6 11 168 1 283 1 251 1 239 1 |
Associated companies
Associated companies | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of associates [abstract] | |
Associated companies | 4. Associated companies Net income statement effect Other comprehensive income effect 1 Total comprehensive income effect (USD millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Roche Holding AG, Switzerland 15 341 677 46 -56 15 387 621 Others -9 -2 -4 -9 -2 -4 Associated companies -9 15 339 673 46 -56 -9 15 385 617 1 In 2021, Novartis share of other comprehensive income recognized by associated companies, net of taxes of USD 3 million was recycled into the consolidated income statement as a result of the divestment of the investment in Roche Holding AG. No Novartis share of other comprehensive income recognized by associated companies was recycled to the consolidated income statement in 2022 and 2020. Novartis has certain non-significant investments and had a significant investment in Roche Holding AG, Basel (Roche), which was divested to Roche on December 6, 2021, that are accounted for as associated companies. Roche Holding AG On November 3, 2021, Novartis entered into an agreement with Roche Holding AG to divest its 33.3% 6.2% The divestment transaction closed on December 6, 2021, and Novartis realized a gain of USD 14.6 billion, recorded in income from associated companies. See Note 2. The Group’s holding in Roche voting shares was 33.3% 6.2% Since full-year financial data for Roche is not available when Novartis produces its consolidated financial results, a survey of analyst estimates is used to estimate the Group’s share of Roche’s net income. Any differences between these estimates and actual results were adjusted in the Group’s consolidated financial statements when available. As Novartis discontinued the use of equity method accounting starting from November 3, 2021, and the divestment closed on December 6, 2021, no such adjustment has been made to the 2022 Group’s consolidated financial statements. In 2021, dividends received from Roche in relation to the distribution of its 2020 net income amounted to USD 522 million. The consolidated income statement effects from applying Novartis accounting principles for this investment in 2021 and 2020 are as follows: (USD millions) 2021 2020 Novartis share of Roche's estimated current-year consolidated net income 815 913 Prior-year adjustment 40 -64 Amortization of fair value adjustments relating to intangible assets, net of taxes of 2021: USD 10 million; 2020: USD 26 million -70 -172 Gain on divestment of the investment in Roche 1 14 556 Net income effect 15 341 677 1 The gain on divestment of the investment in Roche includes the recycling of currency translation effects (see Note 8.1) and other comprehensive income effects totaling USD 3.2 billion. |
Interest expense and other fina
Interest expense and other financial income and expense | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Interest Expense and Other Financial Income and Expense [abstract] | |
Interest expense and other financial income and expense | 5. Interest expense and other financial income and expense Interest expense (USD millions) 2022 2021 2020 Interest expense -669 -651 -708 Interest expense on lease liabilities -60 -62 -67 Expense arising from discounting long-term liabilities and capitalized borrowing costs -108 -98 -94 Total interest expense -837 -811 -869 Other financial income and expense (USD millions) 2022 2021 2020 Interest income 379 71 91 Other financial income 19 12 18 Financial expense -194 -94 -52 Currency result, net -184 -69 -135 Total other financial income and expense 20 -80 -78 |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Income Tax [abstract] | |
Income taxes | 6. Income taxes Income before taxes (USD millions) 2022 2021 2020 Switzerland 1 5 986 22 028 9 786 Foreign 2 385 4 109 92 Income before taxes 8 371 26 137 9 878 1 The 2021 income before taxes in Switzerland includes a USD 14.6 billion non-taxable gain on the divestment of the Group’s investment in Roche Holding AG (see Note 2 and Note 4). Current and deferred income tax expense The significant components of the provision for income taxes are as follows: (USD millions) 2022 2021 2020 Switzerland -617 -958 -932 Foreign -1 454 -1 470 -1 168 Current income tax expense -2 071 -2 428 -2 100 Switzerland -142 23 -137 Foreign 797 286 430 Deferred tax income 655 309 293 Income tax expense -1 416 -2 119 -1 807 Analysis of tax rate Novartis has a substantial business presence in many countries and is therefore subject to income taxes in different tax jurisdictions. This leads to differences in income and expense items that are non-taxable or non-deductible (permanent differences) or are taxed at different statutory tax rates in those tax jurisdictions. As a result, there is a difference between our applicable tax rate and effective tax rate. The applicable tax rate changes from year to year due to changes in the mix of the Group’s pre-tax income and changes in statutory tax rates since it is calculated as the weighted average tax rate based on the pre-tax income of each subsidiary. The main elements contributing to the difference between the Group’s overall applicable tax rate and the effective tax rate are shown in the following table: (As a percentage) 2022 2021 2020 Applicable tax rate 16.8 14.8 13.6 Effect of disallowed expenditures 2.6 1.0 4.6 Effect of utilization of previously unrecognized tax losses brought forward from prior periods 0.0 0.0 -0.3 Effect of income taxed at reduced rates -0.3 -0.1 -0.3 Effect of income not subject to tax 1 -0.1 -7.5 -0.7 Effect of tax credits and allowances -3.8 -1.4 -2.3 Effect of release of contingent consideration liability -0.5 -0.1 -0.2 Effect of tax rate change on current and deferred tax assets and liabilities -0.1 0.0 0.3 Effect of derecognition and reversals of derecognition of deferred tax assets 1.2 0.0 0.2 Effect of write-down and reversal of write-down of investments in subsidiaries 0.0 0.0 -0.8 Effect of prior-year items -0.4 0.1 2.3 Effect of changes in uncertain tax positions 1.4 1.3 2.0 Effect of other items 0.1 0.0 -0.1 Effective tax rate 16.9 8.1 18.3 1 2021 includes the effect of income not subject to tax ( -7.3 Our effective tax rate fluctuates based primarily on, among other factors, changes in pre-tax income between countries with varying statutory tax rates, income taxed at reduced tax rates, effect of disallowed expenditures, effect of income not subject to tax, effect of tax credits and allowances, effect of prior-year items, changes in the measurement of deferred tax assets, changes in uncertain tax positions and changes in tax laws. The table above provides the details of the significant items that impact the comparability of the effective tax rate between years. The utilization of tax-loss carry-forwards lowered the tax charge by USD 1 million in 2022, by USD 5 million in 2021, and by USD 29 million in 2020. |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2022 | |
Earnings per share [abstract] | |
Earnings per share | 7. Earnings per share 2022 2021 2020 Net income attributable to shareholders of Novartis AG (USD millions) 6 955 24 021 8 072 Number of shares (in millions) Weighted average number of shares outstanding used in basic earnings per share 2 181 2 243 2 277 Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options 16 17 19 Weighted average number of shares in diluted earnings per share 2 197 2 260 2 296 Basic earnings per share (USD) 3.19 10.71 3.55 Diluted earnings per share (USD) 3.17 10.63 3.52 Basic earnings per share (EPS) is calculated by dividing net income attributable to shareholders of Novartis AG by the weighted average number of shares outstanding in a reporting period. This calculation excludes the average number of issued shares purchased by the Group and held as treasury shares. For diluted EPS, the weighted average number of shares outstanding is adjusted to assume the vesting of all restricted shares, restricted share units, and the conversion of all potentially dilutive shares arising from options on Novartis shares that have been issued. No options were excluded from the calculation of diluted EPS in 2022, 2021 or 2020, as all options were dilutive in all years. |
Changes in consolidated stateme
Changes in consolidated statements of comprehensive income | 12 Months Ended |
Dec. 31, 2022 | |
Comprehensive income [abstract] | |
Changes in consolidated statements of comprehensive income | 8. Changes in consolidated statements of comprehensive income The consolidated statements of comprehensive income include the Group’s net income for the year as well as all other valuation adjustments recorded in the Group’s consolidated balance sheet, which under IFRS are not recorded in the consolidated income statement. These include fair value adjustments on financial instruments, actuarial gains or losses on defined benefit pension plans, and currency translation effects, net of taxes. Total value Value adjustments at December 31, 2019 120 -5 919 1 142 -4 657 -29 -4 686 Fair value adjustments on equity securities, net of taxes of USD -36 1 250 250 250 Net investment hedge -201 -201 -201 Defined benefit plans, net of taxes of USD -3 145 145 -2 143 Currency translation effects, net of taxes of USD 10 million 8.1 3 193 3 193 1 3 194 Total value adjustments in 2020 250 145 2 992 3 387 -1 3 386 Fair value adjustments on equity securities sold, reclassified to retained earnings -150 -150 -150 Value adjustments related to divestments 2 2 2 Impact of change in ownership of consolidated entities -1 -1 1 Value adjustments at December 31, 2020 220 -5 773 4 134 -1 419 -29 -1 448 Fair value adjustments on equity securities, net of taxes of USD -44 1 194 194 194 Net investment hedge, net of taxes of USD 33 million 216 216 216 Defined benefit plans, net of taxes of USD -323 1 808 1 808 1 1 809 Currency translation effects, net of taxes of USD 17 million 8.1 -4 757 -4 757 -5 -4 762 Total value adjustments in 2021 194 1 808 -4 541 -2 539 -4 -2 543 Fair value adjustments on equity securities sold, reclassified to retained earnings net of taxes of USD 48 million -164 -164 -164 Value adjustments related to divestments -62 -3 -65 -65 Value adjustments at December 31, 2021 188 -3 968 -407 -4 187 -33 -4 220 Fair value adjustments on equity securities, net of taxes of USD 81 million 1 -382 -382 -382 Net investment hedge, net of taxes of USD -30 91 91 91 Defined benefit plans, net of taxes of USD -104 -104 -104 1 -103 Currency translation effects, net of taxes of USD 18 million 8.1 -444 -444 -6 -450 Total value adjustments in 2022 -382 -104 -353 -839 -5 -844 Fair value adjustments on equity securities sold, reclassified to retained earnings net of taxes of nil -4 -4 -4 Value adjustments related to divestments, net of taxes of USD -4 34 34 34 Value adjustments at December 31, 2022 -198 -4 038 -760 -4 996 -38 -5 034 1 8.1) In 2022, net cumulative currency translation gains of USD 13 million were recycled through the income statement as a result of the divestments of subsidiaries. In 2021, net cumulative currency translation gains of USD 3.2 billion were recycled through the income statement as a result of the divestment of the investment in Roche. See Notes 2 and 4. In 2020, there were no currency translation losses or gains recycled through the income statement. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, plant and equipment | 9. Property, plant and equipment The following table summarizes the movements of property, plant and equipment during 2022: Machinery At January 1, 2022 Cost 492 11 819 1 508 13 328 27 147 Accumulated depreciation and impairment -7 -5 744 -65 -9 786 -15 602 Net book value 485 6 075 1 443 3 542 11 545 At January 1, 2022 485 6 075 1 443 3 542 11 545 Impact of acquisitions of businesses 13 13 Reclassifications 297 -964 667 Additions 3 124 780 312 1 219 Disposals and derecognitions -28 -49 -33 -45 -155 Depreciation charge -437 -726 -1 163 Impairment charge -7 -351 -13 -43 -414 Reversal of impairment charge 1 1 5 7 Currency translation effects -12 -166 -57 -53 -288 At December 31, 2022 442 5 493 1 157 3 672 10 764 At December 31, 2022 Cost 451 11 396 1 184 11 842 24 873 Accumulated depreciation and impairment -9 -5 903 -27 -8 170 -14 109 Net book value 442 5 493 1 157 3 672 10 764 Commitments for purchases of property, plant and equipment 549 Capitalized borrowing costs 5 The following table summarizes the movements of property, plant and equipment during 2021: Machinery At January 1, 2021 Cost 555 12 377 1 248 14 038 28 218 Accumulated depreciation and impairment -19 -5 807 -66 -10 063 -15 955 Net book value 536 6 570 1 182 3 975 12 263 At January 1, 2021 536 6 570 1 182 3 975 12 263 Reclassifications 197 -610 413 Additions 1 109 1 027 293 1 430 Disposals and derecognitions -30 -78 -12 -30 -150 Depreciation charge -453 -755 -1 208 Impairment charge -4 -137 -76 -167 -384 Reversal of impairment charge 5 70 16 12 103 Currency translation effects -23 -203 -84 -199 -509 At December 31, 2021 485 6 075 1 443 3 542 11 545 At December 31, 2021 Cost 492 11 819 1 508 13 328 27 147 Accumulated depreciation and impairment -7 -5 744 -65 -9 786 -15 602 Net book value 485 6 075 1 443 3 542 11 545 Commitments for purchases of property, plant and equipment 204 Capitalized borrowing costs 4 The following table shows the property, plant and equipment impairment charges and reversals by reporting segment: Impairment charges Impairment reversals (USD millions) 2022 2021 2020 2022 2021 2020 Innovative Medicines -411 -315 -326 4 44 2 Sandoz -3 -68 -121 3 59 5 Corporate -1 Total -414 -384 -447 7 103 7 |
Right-of-use assets and lease l
Right-of-use assets and lease liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Lease liabilities and Right of use assets Disclosure Abstract | |
Disclosure of leases [text block] | 10. Right-of-use assets and lease liabilities The following table summarizes the movements of the right-of-use assets: (USD millions) 2022 2021 Right-of-use assets at January 1 1 561 1 676 Impact of acquisitions of businesses 12 Additions 247 321 Depreciation charge -300 -318 Impairment charge 1 -3 Lease contract terminations 2 -34 -66 Currency translation effects -52 -52 Total right-of-use assets at December 31 1 431 1 561 1 2 The following table shows the right-of-use assets carrying value and depreciation charge at December 31, 2022 and 2021, by underlying class of asset: December 31, Depreciation December 31, Depreciation Land 505 16 522 11 Buildings 745 177 866 192 Vehicles 117 96 136 105 Machinery and equipment, and other assets 64 11 37 10 Total right-of-use assets 1 431 300 1 561 318 The following table shows the lease liabilities by maturity at December 31, 2022 and 2021: Lease liabilities Lease liabilities Less than one year 251 297 275 324 Between one and two years 190 232 216 258 Between two and three years 167 201 162 198 Between three and four years 137 172 139 172 Between four and five years 122 154 122 154 After five years 922 2 149 982 2 243 Total lease liabilities 1 789 3 205 1 896 3 349 Less current portion of lease liabilities -251 -297 -275 -324 Non-current portion of lease liabilities 1 538 2 908 1 621 3 025 Commitments for leases not yet commenced 83 134 At December 31, 2022, and December 31, 2021, there were no material future cash outflows, including extension options, excluded from the measurement of lease liabilities. The Group’s most material lease with a lease term extension, representing a lease liability value of USD 0.7 billion (2021: USD 0.6 billion), has a determined lease term end date of 2071 (2021: 2071). Non-enforceable extension options of up to 10 years have not been included within the measurement of this lease liability, and do not have a material impact to the carrying value of the lease for both 2022 and 2021. Should the landlord agree to a lease extension, rent will be referenced to the market rates as at the commencement of the extension period. In 2022, the Group completed three sale and leaseback transactions for certain property, plant and equipment as part of the Groups plans to focus on key operating locations. The transactions resulted in net cash inflows of USD 49 million and the recognition of USD 23 million of lease liabilities, and USD 13 million of right-of-use assets. The right-of-use assets value reflects the proportion of the property, plant and equipment retained. Extension options have been included where management believe that such options will be exercised. The liabilities reflect the net present value of future lease payments. The net gain on the sale and leaseback transactions amounted to USD 17 million. There were no significant sale and leaseback transactions in 2021 or 2020. The following table provides additional disclosures related to right-of-use assets and lease liabilities for 2022, 2021 and 2020: (USD millions) 2022 2021 2020 Interest expense on lease liabilities 1 60 62 67 Expense on short-term leases 3 6 4 Expense on low-value leases 6 7 7 Total cash outflows for leases 355 381 379 Thereof: Cash outflows for short-term leases and low-value leases 2 9 13 11 Payments of interest 3 51 52 56 Payments of lease liabilities 4 295 316 312 1 The weighted average interest rate is 3.3% (2021: 3.2%, 2020: 3.4%). 2 3 4 The net investment held and income from subleasing right-of-use assets were not significant for 2022, 2021, and 2020. Income from leasing Novartis property, plant and equipment to third parties for 2022, 2021 and 2020 was not significant. |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Goodwill and intangible assets | 11. Goodwill and intangible assets The following table summarizes the movements of goodwill and intangible assets in 2022: Goodwill Intangible assets other than goodwill In-process Currently Other At January 1, 2022 Cost 29 900 8 013 1 080 56 213 2 905 68 211 Accumulated amortization and impairment -305 -2 514 -903 -29 107 -1 505 -34 029 Net book value 29 595 5 499 177 27 106 1 400 34 182 At January 1, 2022 29 595 5 499 177 27 106 1 400 34 182 Impact of acquisitions of businesses 161 1 209 1 209 Reclassifications 1 -1 429 2 1 403 24 Additions 330 1 175 588 2 093 Disposals and derecognitions 2 -28 -95 -3 -2 -100 Amortization charge -37 -3 603 -342 -3 982 Impairment charge -917 -15 -322 -72 -1 326 Currency translation effects -427 -176 -6 -243 -7 -432 At December 31, 2022 29 301 4 421 121 25 513 1 589 31 644 At December 31, 2022 Cost 29 596 7 092 1 038 58 249 3 305 69 684 Accumulated amortization and impairment -295 -2 671 -917 -32 736 -1 716 -38 040 Net book value 29 301 4 421 121 25 513 1 589 31 644 1 2 The following table summarizes the movements of goodwill and intangible assets in 2021: Goodwill Intangible assets other than goodwill In-process Currently Other At January 1, 2021 Cost 30 321 6 893 1 115 57 333 2 384 67 725 Accumulated amortization and impairment -322 -2 193 -885 -26 566 -1 272 -30 916 Net book value 29 999 4 700 230 30 767 1 112 36 809 At January 1, 2021 29 999 4 700 230 30 767 1 112 36 809 Impact of acquisitions of businesses 238 262 292 98 652 Reclassifications 1 -20 15 5 Additions 958 270 508 1 736 Disposals and derecognitions 2 -36 -1 -37 Amortization charge -41 -3 607 -255 -3 903 Impairment charge -350 -17 -1 -35 -403 Currency translation effects -642 -51 -10 -584 -27 -672 At December 31, 2021 29 595 5 499 177 27 106 1 400 34 182 At December 31, 2021 Cost 29 900 8 013 1 080 56 213 2 905 68 211 Accumulated amortization and impairment -305 -2 514 -903 -29 107 -1 505 -34 029 Net book value 29 595 5 499 177 27 106 1 400 34 182 1 2 The following table summarizes the allocation of the net book values of goodwill and intangible assets by reporting segment at December 31, 2022: Goodwill 1 Intangible assets other than goodwill In-process Currently Other Innovative Medicines 21 531 4 186 14 24 487 1 139 29 826 Sandoz 7 770 235 107 1 026 92 1 460 Corporate 358 358 Net book value at December 31, 2022 29 301 4 421 121 25 513 1 589 31 644 1 The following table summarizes the allocation of the net book values of goodwill and intangible assets by reporting segment at December 31, 2021: Goodwill 1 Intangible assets other than goodwill In-process Currently Other Innovative Medicines 21 562 5 313 15 25 938 1 091 32 357 Sandoz 8 026 186 162 1 168 61 1 577 Corporate 7 248 248 Net book value at December 31, 2021 29 595 5 499 177 27 106 1 400 34 182 1 As at December 31, 2022, the most significant intangible assets within currently marketed products category are Leqvio Zolgensma Leqvio Zolgensma The Innovative Medicines and Sandoz Divisions’ cash-generating units, to which goodwill is allocated, each comprise a group of smaller cash-generating units. The valuation method of the recoverable amount of the group of cash-generating units, to which goodwill is allocated, is based on the fair value less costs of disposal. The following assumptions are used in the calculations: Innovative Terminal growth rate 1.5 1.0 Discount rate (post-tax) 8.0 8.0 The discount rates for all divisions consider the Group’s weighted average cost of capital, adjusted to approximate the weighted average cost of capital of a comparable market participant. The fair value less costs of disposal, for all cash-generating units containing goodwill, is reviewed for the impact of reasonably possible changes in key assumptions. In particular, we considered an increase in the discount rate, a decrease in the terminal growth rate, and certain negative impacts on the forecasted cash flows. These reasonably possible changes in key assumptions did not indicate an impairment. “Note 1. Significant accounting policies—Impairment of goodwill and intangible assets” provides additional disclosures on how the Group performs goodwill and intangible asset impairment testing. The following table shows the intangible asset impairment charges and reversals by reporting segment: Impairment charges Impairment reversals (USD millions) 2022 2021 2020 2022 2021 2020 Innovative Medicines 1 -1 299 -367 -768 Sandoz -25 -28 -141 Corporate -2 -8 -5 Total -1 326 -403 -914 1 2022 includes an impairment of USD 0.6 billion related to the write-down of IPR&D related to cessation of clinical development program UNR844. 2021 includes an impairment of USD 0.2 billion related to the write-down of IPR&D related to cessation of clinical development program GTX312. 2020 includes an impairment of USD 0.5 billion related to the write-down of IPR&D related to cessation of clinical development program ZPL389 for atopic dermatitis and USD 0.2 billion related to a partial write-down of the Votrient Votrient |
Deferred tax assets and liabili
Deferred tax assets and liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Deferred Tax Assets and Liabilities [abstract] | |
Deferred tax assets and liablities | 12. Deferred tax assets and liabilities Pensions and Gross deferred tax assets at January 1, 2022 125 1 307 1 026 2 273 374 2 727 7 832 Gross deferred tax liabilities at January 1, 2022 -381 -4 704 -591 -148 -1 335 -7 159 Net deferred tax balance at January 1, 2022 -256 -3 397 435 2 125 374 1 392 673 At January 1, 2022 -256 -3 397 435 2 125 374 1 392 673 Credited/(charged) to income 69 628 -5 -43 5 1 655 Charged to equity 1 1 Credited/(charged) to other comprehensive income -2 -104 63 -43 Impact of acquisitions of businesses -300 55 1 -244 Other movements 4 10 -7 -6 -9 19 11 Net deferred tax balance at December 31, 2022 -185 -3 059 319 2 076 425 1 477 1 053 Gross deferred tax assets at December 31, 2022 158 1 726 739 2 214 425 2 789 8 051 Gross deferred tax liabilities at December 31, 2022 -343 -4 785 -420 -138 -1 312 -6 998 Net deferred tax balance at December 31, 2022 -185 -3 059 319 2 076 425 1 477 1 053 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 4 312 Deferred tax assets at December 31, 2022 3 739 Deferred tax liabilities at December 31, 2022 -2 686 Net deferred tax balance at December 31, 2022 1 053 Gross deferred tax assets at January 1, 2021 189 1 351 1 137 2 502 507 2 658 8 344 Gross deferred tax liabilities at January 1, 2021 -430 -5 269 -340 -159 -10 -1 344 -7 552 Net deferred tax balance at January 1, 2021 -241 -3 918 797 2 343 497 1 314 792 At January 1, 2021 -241 -3 918 797 2 343 497 1 314 792 Credited/(charged) to income -27 567 -22 -215 -121 127 309 Charged to equity -35 -35 Credited/(charged) to other comprehensive income -323 6 -317 Impact of acquisitions of businesses -58 12 -46 Other movements 12 12 -17 -3 -14 -20 -30 Net deferred tax balance at December 31, 2021 -256 -3 397 435 2 125 374 1 392 673 Gross deferred tax assets at December 31, 2021 125 1 307 1 026 2 273 374 2 727 7 832 Gross deferred tax liabilities at December 31, 2021 -381 -4 704 -591 -148 -1 335 -7 159 Net deferred tax balance at December 31, 2021 -256 -3 397 435 2 125 374 1 392 673 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 4 089 Deferred tax assets at December 31, 2021 3 743 Deferred tax liabilities at December 31, 2021 -3 070 Net deferred tax balance at December 31, 2021 673 Deferred tax liabilities have not been recognized for the withholding tax and other taxes that would be payable on the remittance of earnings of foreign subsidiaries, insofar as the Group has the ability to control any future reversal and the unremitted earnings are retained in the foreign subsidiaries for reinvestment. The total unremitted earnings retained for reinvestment in the Group’s foreign subsidiaries that would be subject to withholding tax or other taxes if remitted to the Group are estimated at approximately USD 32 billion in 2022, (2021: USD 29 billion). The gross value of tax-loss carry-forwards that have or have not been recognized as deferred tax assets, with their expiry dates, is as follows: (USD millions) Unrecognized Recognized 2022 total One year 18 0 18 Two years 37 5 42 Three years 25 5 30 Four years 138 0 138 Five years 79 688 767 More than five years 3 880 2 380 6 260 Not subject to expiry 433 452 885 Total 4 610 3 530 8 140 (USD millions) Unrecognized Rcognized 2021 total One year 15 4 19 Two years 14 6 20 Three years 37 10 47 Four years 26 11 37 Five years 146 20 166 More than five years 3 536 1 872 5 408 Not subject to expiry 418 684 1 102 Total 4 192 2 607 6 799 (USD millions) 2022 2021 2020 Tax losses carried forward that expired 6 18 14 Deferred tax assets related to carry-forwards of taxable losses and tax credits of relevant Group entities are recognized to the extent it is considered probable that future taxable profits will be available in the respective tax jurisdictions against which such losses and credits can be utilized. |
Financial and other non-current
Financial and other non-current assets | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of financial and other non-current assets [abstract] | |
Financial and other non-current assets | 13. Financial and other non-current assets Financial assets (USD millions) 2022 2021 Equity securities 1 145 1 663 Debt securities 37 34 Fund investments 281 366 Total financial investments 1 463 2 063 Long-term receivables from finance subleases 59 70 Other long-term receivables 197 184 Contingent consideration receivables 1 607 641 Long-term loans, advances and security deposits 85 78 Total financial assets 2 411 3 036 1 Other non-current assets (USD millions) 2022 2021 Deferred compensation plans 419 520 Prepaid post-employment benefit plans 1 491 1 415 Other non-current assets 200 275 Total other non-current assets 1 110 2 210 1 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Inventories Disclosure [abstract] | |
Inventories | 14. Inventories (USD millions) 2022 2021 Raw material, consumables 934 870 Work in progress 3 673 3 160 Finished products 2 568 2 636 Total inventories 7 175 6 666 The following table shows the amount of inventory recognized as an expense in “Cost of goods sold” in the consolidated income statements: (USD billions) 2022 2021 2020 Cost of goods sold -8.6 -8.8 -8.5 The following table shows the recognized amount of inventory provision and reversals of inventory provision recorded in the consolidated income statements: (USD millions) 2022 2021 2020 Inventory provisions -633 -573 -702 Reversals of inventory provisions 161 158 255 The reversals mainly result from the release of products initially requiring additional quality control inspections and from the reassessment of inventory values manufactured prior to regulatory approval but for which approval was subsequently received. |
Trade receivables
Trade receivables | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of trade receivables [abstract] | |
Trade receivables | 15. Trade receivables (USD millions) 2022 2021 Total gross trade receivables 8 128 8 088 Provisions for doubtful trade receivables -62 -83 Total trade receivables, net 8 066 8 005 The following table summarizes the movement in the provision for doubtful trade receivables: (USD millions) 2022 2021 2020 January 1 -83 -93 -95 Provisions for doubtful trade receivables charged to the consolidated income statement -47 -39 -59 Utilization of provisions for doubtful trade receivables 9 9 13 Reversal of provisions for doubtful trade receivables credited to the consolidated income statement 56 34 53 Currency translation effects 3 6 -5 December 31 -62 -83 -93 The following table shows the trade receivables that are not overdue as specified in the payment terms and conditions established with Novartis customers, as well as an analysis of overdue amounts and related provisions for doubtful trade receivables: (USD millions) 2022 2021 Not overdue 7 664 7 639 Past due for not more than one month 190 162 Past due for more than one month but less than three months 110 99 Past due for more than three months but less than six months 62 63 Past due for more than six months but less than one year 23 28 Past due for more than one year 79 97 Provisions for doubtful trade receivables -62 -83 Total trade receivables, net 8 066 8 005 Trade receivable balances represent amounts due from our customers, which are mainly drug wholesalers, retailers, private health systems, government agencies, managed care providers, pharmacy benefit managers and government-supported healthcare systems. We particularly monitor the level of trade receivables in countries deemed to have an elevated credit risk. We consider macroeconomic environment, historical experience, country and political risk, in addition to other relevant information when assessing risk. These risk factors are monitored regularly to determine any adjustments in risk classification. The majority of the past due trade receivables from elevated credit risk countries are due from local governments or from government-funded entities. Deteriorating credit and economic conditions as well as other factors in these elevated credit risk countries have resulted in, and may continue to result in, an increase in the average length of time that it takes to collect these trade receivables, and may require the Group to re-evaluate the expected credit loss amount of these trade receivables in future periods. At December 31, 2022, amounts past due for more than one year are not significant in elevated credit risk countries. Total trade receivables include amounts denominated in the following major currencies: (USD millions) 2022 2021 US dollar (USD) 3 709 3 344 Euro (EUR) 1 426 1 408 Russian ruble (RUB) 430 473 Japanese yen (JPY) 177 383 British pound (GBP) 176 200 Chinese yuan (CNY) 155 197 Canadian dollar (CAD) 151 139 Brazilian real (BRL) 145 129 Australian dollar (AUD) 137 139 Swiss franc (CHF) 108 106 Other currencies 1 452 1 487 Total trade receivables, net 8 066 8 005 |
Marketable securities, commodit
Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of marketable securities commodities deposits derivative instruments and cash [abstract] | |
Disclosure of marketable securities commodities deposits derivative instruments and cash | 16. Marketable securities, commodities, time deposits, derivative financial instruments, and cash and cash equivalents Marketable securities, commodities, time deposits and derivative financial instruments (USD millions) 2022 2021 Commodities 111 111 Debt securities 9 2 741 Time deposits and short-term investments with original maturity more than 90 days 11 089 12 965 Derivative financial instruments 204 105 Total marketable securities, commodities, time deposits and derivative financial instruments 11 413 15 922 The vast majority of debt securities, time deposits and short-term investments with an original maturity of more than 90 days was denominated in USD as of December 31, 2022, and 2021. Cash and cash equivalents (USD millions) 2022 2021 Current accounts 2 877 3 396 Time deposits and short-term investments with original maturity less than 90 days 4 640 9 011 Total cash and cash equivalents 7 517 12 407 |
Other current assets
Other current assets | 12 Months Ended |
Dec. 31, 2022 | |
Other current assets [abstract] | |
Other current assets | 17. Other current assets (USD millions) 2022 2021 VAT receivable 509 487 Withholding tax recoverable 50 58 Prepaid expenses 911 1 102 Contingent consideration receivable 1 43 Other receivables and current assets 958 793 Total other current assets 2 471 2 440 1 |
Equity
Equity | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of equity [abstract] | |
Equity | 18. Equity The following table shows the movement in the share capital: Movement Movement Movement Share capital 1 936 -23 913 -12 901 -11 890 Treasury shares -80 27 -53 5 -48 -44 -92 Outstanding share capital 856 4 860 -7 853 -55 798 1 The Novartis AG share capital consists of registered shares with a nominal value of CHF 0.50 each. No authorized and conditional capital exists. The following table shows the movement in the shares: 2022 2021 2020 Total Total 1 Total Total Total 1 Total Total Total 1 Total Balance at beginning of year 2 434.4 -199.5 2 234.9 2 467.0 -210.2 2 256.8 2 527.3 -262.3 2 265.0 Shares canceled for capital reduction 2 -30.7 30.7 -32.6 32.6 -60.3 60.3 Shares acquired to be canceled 3 -126.2 -126.2 -30.7 -30.7 -32.6 -32.6 Other share purchases 4 -1.4 -1.4 -1.5 -1.5 -1.7 -1.7 Exercise of options and employee transactions 5 18.9 1.9 1.9 0.6 0.6 14.7 14.7 Equity-based compensation 5 10.4 10.4 9.6 9.6 11.0 11.0 Shares delivered to Alcon employees 0.0 0.0 0.1 0.1 0.4 0.4 Total movements -30.7 -84.6 -115.3 -32.6 10.7 -21.9 -60.3 52.1 -8.2 Balance at end of year 2 403.7 -284.1 2 119.6 2 434.4 -199.5 2 234.9 2 467.0 -210.2 2 256.8 1 Approximately 99.0 million treasury shares (2021: 102.5 million; 2020: 103.0 million) are held in Novartis entities that restrict their availability for use. 2 3 Shares repurchased on the SIX Swiss Exchange second trading line under a CHF 10 billion share buyback authority approved at the 2019 Annual General Meeting (AGM) for transactions after February 28, 2019, until March 2, 2021. Transactions after March 2, 2021, were executed under the CHF 10 billion share buyback authority approved at the 2021 AGM and the additional CHF 10 billion authority approved at the 2022 AGM. 4 5 18.1) The amount available for distribution as a dividend to shareholders is based on the available distributable retained earnings of Novartis AG determined in accordance with the legal provisions of the Swiss Code of Obligations. 2022 2021 2020 Dividend per share (in CHF) 3.10 3.00 2.95 Total dividend payment (in USD billion) 7.5 7.4 7.0 18.2) The following table summarizes the treasury shares movements: 2022 2021 2020 Number of Number of Number of Shares acquired to be canceled 1 -126.2 -10 787 -30.7 -2 775 -32.6 -2 897 Other share purchases 2 -1.4 -123 -1.5 -145 -1.7 -159 Purchase of treasury shares -127.6 -10 910 -32.2 -2 920 -34.3 -3 056 Exercise of options and employee transactions 3 18.9 1.9 88 0.6 39 14.7 806 Equity-based compensation 4 10.4 854 9.6 745 11.0 730 Shares delivered to Alcon employees 0.0 5 0.1 17 0.4 30 Total -115.3 -9 963 -21.9 -2 119 -8.2 -1 490 1 Shares repurchased on the SIX Swiss Exchange second trading line under a CHF 10 billion share buyback authority approved at the 2019 Annual General Meeting (AGM) for transactions after February 28, 2019, until March 2, 2021. Transactions after March 2, 2021, were executed under the CHF 10 billion share buyback authority approved at the 2021 AGM and the additional CHF 10 billion authority approved at the 2022 AGM. 2 3 4 18.3) In December 2021, Novartis entered into an irrevocable, non-discretionary arrangement with a bank to repurchase Novartis shares on the second trading line under its up-to USD 15.0 billion share buyback. The arrangement was updated in July 2022. Novartis is able to cancel this arrangement at any time but could be subject to a 90-day waiting period. As of December 31, 2022, these waiting period conditions were not applicable and as a result, there was no requirement to record a liability under this arrangement as of December 31, 2022. The liability under this arrangement amounted to USD 2.8 billion as of December 31, 2021. In June 2021, Novartis entered into an irrevocable, non-discretionary arrangement with a bank to repurchase Novartis shares to mitigate dilution related to participation plans of employees. Novartis would have been able to cancel this arrangement at any time but would have been subject to a 90-day waiting period. This trading plan commitment was fully executed and expired in June 2021, and as a consequence, there is no In November 2020, Novartis entered into an irrevocable, non-discretionary arrangement with a bank to repurchase Novartis shares on the second trading line under its up-to USD 2.5 billion share buyback. Novartis would have been able to cancel this arrangement at any time, but would have been subject to a 90-day waiting period. The commitment under this arrangement therefore reflected the obligated purchases by the bank under such trading plan over a rolling 90-day period, or if shorter, until the maturity date of such trading plan. The commitment under this arrangement amounted to USD 1.8 billion as of December 31, 2020. This trading plan commitment was fully executed and expired in March 2021, and as a consequence, there is no liability related to this plan recognized as of December 31, 2021. In August 2020, Novartis entered into an irrevocable, non-discretionary arrangement with a bank to repurchase Novartis shares to mitigate dilution related to participation plans of associates. Novartis would have been able to cancel this arrangement at any time but would have been subjected to a 90-day waiting period. This trading plan commitment was fully executed and expired, and as a consequence, there is no liability related to this plan recognized as of December 31, 2020. 18.4) In October 2020, Novartis entered into an agreement with the market maker for its employee options to repurchase a portion of the outstanding written call options. A total of 3.7 million options were repurchased under this agreement. This agreement was terminated in November 2020. 18.5) The impact of change in ownership of consolidated entities represents the excess of the amount paid to non-controlling interest over their carrying value and equity allocation to non-controlling interest due to change in ownership percentage. 18.6) Changes in non-controlling interests represent the impact on the non-controlling interest of transactions with minority shareholders, such as change in ownership percentage, dividend payments and other equity transactions. 18.7) Other movements include, for subsidiaries in hyperinflationary economies, the impact of the restatement of the equity balances of the current year as well as restatement of the non-monetary assets and liabilities with the general price index at the beginning of the period. See Note 29 for additional disclosures. 18.8) In 2021, transaction costs that were directly attributable to the distribution (spin-off) of Alcon Inc. to Novartis AG shareholders and that would otherwise have been avoided, were recorded to equity. 18.9) At December 31, 2022, the market maker held 3 million (2021: 3 million; 2020: 1 million) written call options, originally issued as part of the share-based compensation for employees, that have not yet been exercised. The weighted average exercise price of these options is USD 66.07 (2021: USD 61.45; 2020: USD 60.09), and they have contractual lives of 10 years, with remaining lives less than one year (2021: two years; 2020: three years). |
Non-current financial debt
Non-current financial debt | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of financial liabilities [abstract] | |
Disclosure of financial liabilities [text block] | 19. Non-current financial debt (USD millions) 2022 2021 Straight bonds 22 341 25 296 Liabilities to banks and other financial institutions 1 144 227 Total, including current portion of non-current financial debt 22 485 25 523 Less current portion of non-current financial debt -2 241 -2 621 Total non-current financial debt 20 244 22 902 1 Average interest rate 2.3% (2021: 0.9%) All bonds are initially recorded at the amount of proceeds received, net of transaction costs. They are subsequently carried at amortized cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognized as a charge to the consolidated income statement over the period of the relevant bond. Financial debts, including current financial debts, contain only general default covenants. The Group is in compliance with these covenants. The percentage of fixed-rate financial debt to total financial debt was 86% 87% The average interest rate on total financial debt in 2022 was 2.4% 1.9% Note 29 contains a maturity table of the Group’s future contractual interest payments commitments. The following table provides a breakdown of straight bonds: Notional 2022 2021 2.400% USD 1 500 2012 2022 Novartis Capital Corporation, New York, United States 99.225% 1 498 3.700% USD 500 2012 2042 Novartis Capital Corporation, New York, United States 98.325% 490 490 3.400% USD 2 150 2014 2024 Novartis Capital Corporation, New York, United States 99.287% 2 147 2 144 4.400% USD 1 850 2014 2044 Novartis Capital Corporation, New York, United States 99.196% 1 827 1 826 1.625% EUR 600 2014 2026 Novartis Finance S.A., Luxembourg, Luxembourg 99.697% 638 676 0.250% CHF 500 2015 2025 Novartis AG, Basel, Switzerland 100.640% 541 547 0.625% CHF 550 2015 2029 Novartis AG, Basel, Switzerland 100.502% 595 602 1.050% CHF 325 2015 2035 Novartis AG, Basel, Switzerland 100.479% 352 356 3.000% USD 1 750 2015 2025 Novartis Capital Corporation, New York, United States 99.010% 1 742 1 740 4.000% USD 1 250 2015 2045 Novartis Capital Corporation, New York, United States 98.029% 1 221 1 220 0.125% EUR 1 250 2016 2023 Novartis Finance S.A., Luxembourg, Luxembourg 99.127% 1 330 1 409 0.625% EUR 500 2016 2028 Novartis Finance S.A., Luxembourg, Luxembourg 98.480% 528 559 2.400% USD 1 000 2017 2022 Novartis Capital Corporation, New York, United States 99.449% 1 000 3.100% USD 1 000 2017 2027 Novartis Capital Corporation, New York, United States 99.109% 994 993 1.125% EUR 600 2017 2027 Novartis Finance S.A., Luxembourg, Luxembourg 99.874% 638 677 0.500% EUR 750 2018 2023 Novartis Finance S.A., Luxembourg, Luxembourg 99.655% 798 846 1.375% EUR 750 2018 2030 Novartis Finance S.A., Luxembourg, Luxembourg 99.957% 797 846 1.700% EUR 750 2018 2038 Novartis Finance S.A., Luxembourg, Luxembourg 99.217% 792 840 1.750% USD 1 000 2020 2025 Novartis Capital Corporation, New York, United States 99.852% 998 998 2.000% USD 1 250 2020 2027 Novartis Capital Corporation, New York, United States 99.909% 1 246 1 246 2.200% USD 1 500 2020 2030 Novartis Capital Corporation, New York, United States 99.869% 1 494 1 493 2.750% USD 1 250 2020 2050 Novartis Capital Corporation, New York, United States 97.712% 1 215 1 214 0.000% 1 EUR 1 850 2020 2028 Novartis Finance S.A., Luxembourg, Luxembourg 99.354% 1 958 2 076 Total straight bonds 22 341 25 296 1 The EUR 1 850 million bond issued in 2020 features a coupon step-up of 0.25% The following tables provide a breakdown of total non-current financial debt, including current portion by maturity and currency: Breakdown by maturity: (USD millions) 2022 2021 2022 2 621 2023 2 241 2 342 2024 2 147 2 144 2025 3 281 3 284 2026 638 693 2027 2 909 2 916 After 2027 11 269 11 523 Total 22 485 25 523 Breakdown by currency: (USD millions) 2022 2021 US dollar (USD) 13 376 15 862 Euro (EUR) 7 478 7 930 Japanese yen (JPY) 76 174 Swiss franc (CHF) 1 488 1 505 Others 67 52 Total 22 485 25 523 The following table shows the comparison of balance sheet carrying value and fair value of total non-current financial debt, including current portion: 2022 2022 2021 2021 Straight bonds 22 341 20 277 25 296 27 079 Others 144 144 227 227 Total 22 485 20 421 25 523 27 306 The fair values of straight bonds are determined by quoted market prices. Other financial debts are recorded at notional amounts, which are a reasonable approximation of the fair values. |
Provisions and other non-curren
Provisions and other non-current liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about provisions and non-current liabilities [abstract] | |
Provisions and other non-current liabilities | 20. Provisions and other non-current liabilities (USD millions) 2022 2021 Accrued liability for employee benefits: Defined benefit pension plans 1 1 723 2 640 Other long-term employee benefits and deferred compensation 554 662 Other post-employment benefits 1 362 487 Environmental remediation provisions 535 567 Provisions for product liabilities, governmental investigations and other legal matters 154 341 Contingent consideration 2 704 956 Other non-current liabilities 874 519 Total provisions and other non-current liabilities 4 906 6 172 1 2 Novartis believes that its total provisions are adequate based upon currently available information. However, given the inherent difficulties in estimating liabilities in this area, Novartis may incur additional costs beyond the amounts provided. Management believes that such additional amounts, if any, would not be material to the Group’s financial condition but could be material to the results of operations or cash flows in a given period. Environmental remediation provisions The following table shows the movements in the environmental liability provisions: (USD millions) 2022 2021 2020 January 1 616 809 714 Cash payments -6 -169 -10 Releases -18 - 105 -27 Additions 6 105 82 Currency translation effects -10 -24 50 December 31 588 616 809 Less current provision -53 -49 -167 Non-current environmental remediation provisions at December 31 535 567 642 The significant components of the environmental remediation provisions consist of costs to sufficiently clean and refurbish contaminated sites to the extent necessary, and to continue surveillance at sites where the environmental remediation exposure is less significant. A substantial portion of the environmental remediation provisions relate to the remediation of Basel regional landfills in the adjacent border areas in Switzerland, Germany and France. The provisions are reassessed on an annual basis and adjusted as necessary. In the United States, Novartis has been named under federal legislation (the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended) as a potentially responsible party (PRP) in respect of certain sites. Novartis actively participates in, or monitors, the cleanup activities at the sites in which it is a PRP. The provision takes into consideration the number of other PRPs at each site as well as the identity and financial position of such parties in light of the joint and several nature of the liability. The expected timing of the related cash outflows as of December 31, 2022, is currently projected as follows: Expected Due within two years 128 Due later than two years, but within five years 163 Due later than five years, but within 10 years 251 Due after 10 years 46 Total environmental remediation provisions 588 Provisions for product liabilities, governmental investigations and other legal matters Novartis has established provisions for certain product liabilities, governmental investigations and other legal matters where a potential cash outflow is probable and Novartis can make a reliable estimate of the amount of the outflow. These provisions represent the Group’s current best estimate of the total financial effect for the matters described below and for other less significant matters. Potential cash outflows reflected in a provision might be fully or partially offset by insurance in certain circumstances. Novartis has not established provisions for potential damage awards for certain additional legal claims against its subsidiaries if Novartis currently believes that a payment is either not probable or cannot be reliably estimated. These not-provisioned-for matters include individual product liability cases and certain other legal matters. Plaintiffs’ have alleged claims in these matters and the Group does not believe that information about the amount sought by plaintiffs, if that is known, would be meaningful with respect to those legal proceedings. This is due to a number of factors, including, but not limited to, the stage of proceedings, the entitlement of parties to appeal a decision and clarity as to theories of liability, damages and governing law. Therefore, it is not practicable to provide information about the potential financial impact of these matters. In addition, in some of these matters there are claims for punitive or multiple (treble) damages, civil penalties and disgorgement of profits that in the view of Novartis are either wholly or partially unspecified, or wholly or partially unquantifiable at present; the Group believes that information about these amounts claimed by plaintiffs generally is not meaningful for purposes of determining a reliable estimate of a loss that is probable or more than remote. A number of other legal matters are in such early stages or the issues presented are such that the Group has not made any provisions since it cannot currently estimate either a potential outcome or the amount of any potential losses. For these reasons, among others, the Group generally is unable to make a reliable estimate of possible loss with respect to such cases. It is therefore not practicable to provide information about the potential financial impact of those cases. There might also be cases for which the Group was able to make a reliable estimate of the possible loss or the range of possible loss, but the Group believes that publication of such information on a case-by-case basis would seriously prejudice the Group’s position in ongoing legal proceedings or in any related settlement discussions. Accordingly, in such cases, information has been disclosed with respect to the nature of the contingency, but no disclosure is provided as to an estimate of the possible loss or range of possible loss. Note 28 contains additional information on contingent liabilities. Summary of significant legal proceedings The following is a summary of significant legal proceedings to which Novartis or its subsidiaries are currently a party, or were a party and that concluded in 2022. Investigations and related litigations Southern District of New York (S.D.N.Y.) Gilenya marketing practices investigation and litigation In 2013, Novartis Pharmaceuticals Corporation (NPC) received a civil investigative demand from the United States Attorney’s Office (USAO) for the S.D.N.Y. requesting the production of documents and information relating to marketing practices for Gilenya Government generic pricing antitrust investigations, antitrust class actions Since 2016, Sandoz Inc. has received a grand jury subpoena and a civil investigative demand and interrogatories from the Antitrust and Civil Divisions of the US Department of Justice (DOJ) into alleged price fixing and market allocation of generic drugs in the United States as well as alleged federal False Claims Act (FCA) violations. Sandoz Inc. also received a subpoena and interrogatories from the Attorney General of the State of Connecticut in connection with a similar States’ investigation. In 2020, Sandoz Inc. reached a resolution with the DOJ Antitrust Division, pursuant to which Sandoz Inc. paid USD 195 million and entered into a deferred prosecution agreement. The Sandoz Inc. resolution related to instances of misconduct at the Company between 2013 and 2015 with regard to certain generic drugs sold in the United States. Under the terms of that agreement, Sandoz Inc. will continue to take steps to enhance its compliance program, employee training and monitoring, and will continue to cooperate with the US government’s ongoing investigation into the generic pharmaceutical industry. Sandoz Inc. also finalized a resolution with the DOJ Civil Division and in 2021 paid USD 185 million, which includes interest from the date of the agreement in principle, to settle related claims arising under the FCA, and entered into a corporate integrity agreement with the Office of Inspector General (OIG) of the US Department of Health and Human Services (HHS). This resolution with the DOJ resolves all federal government matters related to price fixing allegations. Since the third quarter of 2016, Sandoz Inc. and Fougera Pharmaceuticals Inc. have been sued alongside other generic pharmaceutical companies in numerous individual and putative class action complaints by direct and indirect private purchasers and by over 50 US states and territories, represented by their respective Attorneys General. Plaintiffs claim that defendants, including Sandoz Inc., engaged in price fixing and market allocation of generic drugs in the United States, and seek damages and injunctive relief. The litigation includes complaints alleging product-specific conspiracies, as well as complaints alleging the existence of an overarching industry conspiracy, and assert claims for damages and penalties under federal and state antitrust and consumer protection acts. The cases have been consolidated for pretrial purposes in the United States District Court (USDC) for the Eastern District of Pennsylvania, and the claims are being vigorously contested. Lucentis/Avastin® matters In connection with an investigation into whether Novartis entities, F. Hoffmann-La Roche AG, Genentech Inc. and Roche S.p.A. colluded to artificially preserve the market positions of Avastin ® Lucentis 2013. In 2020, the FCA issued a decision finding that the Novartis entities had infringed competition law by abusing a dominant position and imposing a fine equivalent to approximately USD 452 million. Novartis paid the fine, again subject to recoupment, and is appealing the FCA’s decision. Novartis is the subject of similar investigations and proceedings involving competition authorities in Belgium and Greece and is currently in the appeal process in Turkey. Novartis continues to vigorously contest all claims in all those countries. Novartis is also challenging policies and regulations allowing off-label/unlicensed use and reimbursement for economic reasons in Turkey. Greece investigation The Greek authorities are investigating legacy allegations of potentially inappropriate economic benefits to HCPs, government officials and others in Greece. These authorities include the Greek Coordinating Body for Inspection and Control, and the Greek Body of Prosecution of Financial Crime (SDOE), from which the Company received a summons in 2018 and 2020. Novartis has cooperated in these investigations. In 2021, SDOE imposed on Novartis Hellas a fine equivalent to approximately USD 1.2 million, which Novartis Hellas has appealed. In 2022, the Greek State served a civil lawsuit on Novartis Hellas, seeking approximately USD 225 million for moral damages allegedly arising from the conduct that was the subject of the Company’s 2020 settlement with the DOJ regarding allegations of inappropriate economic benefits in Greece that was disclosed in the 2020 Annual Report and the 2020 Form 20-F. The claims are being vigorously contested. 340B Drug Pricing Program investigations In 2021, NPC received a notification from the US Health Resources and Services Administration (HRSA) which stated that HRSA believes NPC’s contract pharmacy policy violates the 340B statute, and threatened potential enforcement action. NPC subsequently sued HRSA in the USDC for the District of Columbia to challenge HRSA’s determination and to enjoin HRSA from taking action with respect to NPC’s contract pharmacy policy. HRSA then referred the matter regarding NPC’s contract pharmacy policy to OIG, which could result in the imposition of civil monetary penalties on NPC. The USDC issued a decision rejecting HRSA’s interpretation of the 340B statute, vacating the violation notification and remanding the matter to HRSA. HRSA appealed, and the United States Court of Appeals for the DC Circuit heard argument on the case in 2022. In addition, in 2021, Emory University Hospital Midtown filed an Administrative Dispute Resolution (ADR) proceeding against NPC, seeking the return of alleged overcharges resulting from NPC’s contract pharmacy policy. NPC has moved to dismiss the proceeding pending resolution of the HRSA litigation. Finally, also in 2021, NPC received a civil investigative subpoena from the Office of the Attorney General of the State of Vermont requesting the production of documents and information concerning NPC’s participation in the 340B Drug Pricing Program in Vermont; NPC provided documents and information to the Office of the Attorney General. Swiss and EU investigation In September 2022, the Swiss Competition Commission (COMCO) initiated an investigation of Novartis acquisition of certain patents from Genentech in April 2020 and their subsequent enforcement against Eli Lilly and other parties, allegedly in an attempt to protect Cosentyx Antitrust class actions Exforge Since 2018, Novartis Group companies as well as other pharmaceutical companies have been sued by various direct and indirect purchasers of Exforge Product liability litigation Reclast NPC is a defendant in more than 20 US product liability actions involving Reclast Taxotere® (docetaxel) Sandoz is a defendant in more than 3 100 US product liability actions involving Taxotere® (docetaxel), an oncology product, many of which have been transferred to a multidistrict litigation in the Eastern District of Louisiana. The complaints allege misleading marketing and that Sanofi, as innovator, and several 505(b)(2) NDA holders (including Sandoz) failed to warn of the risk of permanent alopecia/hair loss. In 2022, actions involving claims related to alleged eye injuries caused by the use of Taxotere® were coordinated in a separate multidistrict litigation in the Eastern District of Louisiana. The claims are being vigorously contested. Amiodarone Sandoz entities are named in two multi-plaintiff US product liability cases involving amiodarone, a cardiac drug indicated to treat life-threatening arrhythmias that have not responded to other treatment. The complaints allege failure to warn, off-label promotion, and failure to include medication guides to pharmacies. The claims are being vigorously contested. Sartans and ranitidine Since 2018, claims have been brought against Sandoz and other pharmaceutical companies alleging injury from carcinogenic impurities found in valsartan and valsartan/HCT film-coated tablets and/or losartan marketed or manufactured by Sandoz. These claims include several putative class actions in Canada. Claims have also been brought alleging injury from carcinogenic impurities in ranitidine-containing medicines. These claims also include several putative class actions in Canada and a multidistrict litigation in Florida. All of these claims are being vigorously contested. Tasigna NPC is a defendant in more than 400 US product liability actions involving Tasigna Other matters Shareholder derivative lawsuit In 2021, NPC, Sandoz Inc., Novartis Capital Corporation and certain present and former directors and officers of Novartis were named as defendants, and Novartis was named as a nominal defendant, in a purported shareholder derivative lawsuit filed in New York state court. The plaintiffs, derivatively as purported Novartis shareholders on behalf of Novartis, seek damages and other remedies based on alleged conduct by the corporate and individual defendants. In 2022, the court granted Novartis motion to dismiss the lawsuit, which the plaintiffs have appealed. Concluded legal matters Average Wholesale Price (AWP) litigation – Concluded matter Lawsuits were brought, the latest in February 2016, by various US state governmental entities and private parties against various pharmaceutical companies, including NPC, alleging that they fraudulently overstated the AWP that is or has been used by payers, including state Medicaid agencies, to calculate reimbursements to healthcare providers. In 2022, NPC settled a putative class action brought by private payers in New Jersey, which resolved the last AWP lawsuit. This matter is now concluded. Entresto matter– Concluded matter In 2021, NPC received a civil investigative demand from the DOJ seeking information from 2016 to the present regarding the marketing and pricing of Entresto, including remuneration provided to HCPs. In December 2022, the DOJ advised that it has no additional requests and that the matter is considered closed. This matter is now concluded. South Korea investigation – Concluded matter In 2016, the Seoul Western District Prosecutor initiated a criminal investigation into, among other things, allegations that Novartis Korea utilized medical journals to provide inappropriate economic benefits to healthcare professionals (HCPs). This resulted in a non-material fine, which the prosecutor appealed. In 2021, the appellate court upheld the fine, and the prosecutor appealed that decision. In January 2023, the Supreme Court dismissed the appeal. This matter is now concluded. Summary of product liability, governmental investigations and other legal matters provision movements (USD millions) 2022 2021 2020 January 1 397 487 1 369 Impact of acquisitions of businesses 4 11 Cash payments -105 -292 -1 863 Releases of provisions -52 -44 -31 Additions to provisions 466 251 1 018 Currency translation effects -8 -5 -17 December 31 702 397 487 Less current portion -548 -56 -306 Non-current product liabilities, governmental investigations and other legal matters provisions at December 31 154 341 181 Novartis believes that its total provisions for investigations, product liability, arbitration and other legal matters are adequate based upon currently available information. However, given the inherent difficulties in estimating liabilities, there can be no assurance that additional liabilities and costs will not be incurred beyond the amounts provided. |
Current financial debt and deri
Current financial debt and derivative financial instruments | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of current financial debt and derivative instruments [abstract] | |
Current financial debt and derivative financial instruments | 21. Current financial debt and derivative financial instruments (USD millions) 2022 2021 Interest-bearing accounts of employees payable on demand 1 1 814 Bank and other financial debt 2 863 899 Commercial paper 2 772 893 Current portion of non-current financial debt 2 241 2 621 Derivative financial instruments 55 68 Total current financial debt and derivative financial instruments 5 931 6 295 1 Weighted average interest rate 0.25% through September 30, 2022 (2021: 0.25%) 2 Weighted average interest rate 9.7% (2021: 6.1%) During the third quarter of 2022, Novartis closed the interest-bearing accounts of employees payable on demand, and paid out USD 0.9 billion to the respective beneficiaries on October 3, 2022. The net cash outflows from interest-bearing accounts of employees payable on demand were reported within the line change in current financial debts in the consolidated statements of cash flows. See Note 23.6. The carrying amounts of current financial debt, other than the current portion of non-current financial debt, approximate the estimated fair value due to the short-term nature of these instruments. Details on commercial papers and short-term borrowings are provided under “Liquidity risk” in Note 29. |
Provisions and other current li
Provisions and other current liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of provisions and other current liabilities [abstract] | |
Provisions and other current liabilities | 22. Provisions and other current liabilities (USD millions) 2022 2021 Taxes other than income taxes 836 619 Restructuring provisions 1 131 345 Accrued expenses for goods and services received but not invoiced 1 059 1 089 Accruals for royalties 767 752 Accrued interests on financial debt 116 127 Provisions for deductions from revenue 6 732 6 481 Accruals for compensation and benefits, including social security 2 321 2 260 Environmental remediation provisions 53 49 Deferred income 123 123 Provisions for product liabilities, governmental investigations and other legal matters 1 548 56 Accrued share-based payments 235 253 Contingent consideration 2 131 119 Commitment for repurchase of own shares 3 2 809 Other payables 743 588 Total provisions and other current liabilities 14 795 15 670 1 2 3 Provisions are based upon management’s best estimate and adjusted for actual experience. Such adjustments to historic estimates have not been material. Provisions for deductions from revenue The following table shows the movement of the provisions for deductions from revenue: (USD millions) 2022 2021 2020 January 1 6 481 6 256 5 595 Effect of currency translation, business combinations -210 -218 234 Payments/utilizations -22 261 -19 838 -19 294 Adjustments of prior years charged to income statement -322 -245 -151 Current year income statement charge 23 072 20 413 19 773 Change in provisions offset against gross trade receivables -28 113 99 December 31 6 732 6 481 6 256 The provisions for deductions from revenue include specific healthcare plans and program rebates as well as non-healthcare plans and program-related rebates, returns and other deductions. The provisions for deductions from revenue are adjusted to reflect experience and to reflect actual amounts as rebates, refunds, discounts and returns are processed. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these deductions from revenue. Restructuring provisions movements (USD millions) 2022 2021 2020 January 1 345 459 438 Additions 1 368 328 354 Cash payments -468 -344 -268 Releases -42 -54 -87 Transfers -53 -27 Currency translation effects -19 -17 22 December 31 1 131 345 459 In 2022, additions to provisions of USD 1.4 billion were mainly related to the following reorganizations: • Initiative announced in April 2022 to implement a new streamlined organizational model designed to support innovation, growth and productivity. • The continuation of the Innovative Medicines Division and the Operation unit (formerly Novartis Technical Operations and the Customer & Technology Solutions) 2021 restructuring initiatives. In 2021, additions to provisions of USD 328 million were mainly related to the following reorganizations: • The Innovative Medicines Division commenced a plan to restructure its field force and supporting functions in response to changes in its go-to-market structure with increased utilization of digital technology. • Group-wide initiatives to streamline manufacturing platforms and manufacturing functions and implement new technologies continued. In addition, the Operations unit (formerly Customer & Technology Solutions) continued the phased implementation of the new operating model to transition activities to service centers. In 2020, additions to provisions of USD 354 million were mainly related to the following reorganizations: • The Innovative Medicines Division restructured its field force and supporting functions in Region Europe. • The Sandoz Division initiatives to realign its organizational structures to improve competitiveness that commenced in 2019 continued. • Group-wide initiatives to streamline manufacturing platforms and manufacturing functions through the setup of operations centers and implementation of new technologies, in the Innovative Medicines Division and the Sandoz Division, continued. In addition, the Operations unit (formerly Customer & Technology Solutions) continued the phased implementation of the new operating model to change outsourcing structures and transition activities to service centers. |
Details to the consolidated sta
Details to the consolidated statements of cash flows | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of details to the consolidated statements of cash flows [abstract] | |
Details to the consolidated statements of cash flows | 23. Details to the consolidated statements of cash flows 23.1) Non-cash items and other adjustments The following table shows the reversal of non-cash items and other adjustments in the consolidated statements of cash flows. (USD millions) 2022 2021 2020 Depreciation, amortization and impairments on: Property, plant and equipment 1 570 1 489 1 758 Right-of-use assets 303 318 330 Intangible assets 5 308 4 306 4 376 Financial assets 1 260 -38 -335 Change in provisions and other non-current liabilities 1 403 896 1 411 Gains on disposal and other adjustments on property, plant and equipment; intangible assets; financial assets; and other non-current assets, net -333 -677 -478 Equity-settled compensation expense 823 736 738 Loss/(income) from associated companies 2 9 -15 339 -673 Income taxes 1 416 2 119 1 807 Net financial expense 817 891 947 Other -30 Total 11 546 -5 299 9 881 1 2 2021 included the gain of USD 14.6 billion recognized from the divestment of the Group's investment in Roche (see Notes 2 and 4). In 2022, other than through business combinations, there were USD 635 million additions to intangible assets with deferred payments. In 2022, there were USD 247 million (2021: USD 321 million, 2020: USD 346 million) additions to right-of-use assets recognized. 23.2) Total amount of income taxes paid In 2022, the total amount of income taxes paid was USD 2.0 billion (2021: USD 2.3 billion), which was included within “Net cash flows from operating activities.” In 2020, the total amount of income taxes paid was USD 1.9 billion, of which USD 1.8 billion was included within “Net cash flows from operating activities,” and USD 88 million was included within “Net cash flows used in investing activities from discontinued operations.” 23.3) Cash flows from changes in working capital and other operating items included in the net cash flows from operating activities (USD millions) 2022 2021 2020 (Increase)/decrease in inventories -830 81 -543 (Increase)/decrease in trade receivables -589 -389 137 Decrease in trade payables -48 -21 -324 Change in other current and non-current assets -194 -202 229 Change in other current liabilities 658 772 211 Other adjustments, net 0 -1 Total -1 003 241 -291 23.4) Cash flows arising from acquisitions and divestments of interests in associated companies, net In 2021, acquisitions and divestments of interests in associated companies, net included USD 20.7 billion proceeds from the divestment of the Group’s investment in Roche (see Notes 2 and 4). 23.5) Cash flows arising from acquisitions and divestments of businesses, net The following table is a summary of the cash flow impact of acquisitions and divestments of businesses. The most significant transactions are described in Note 2. (USD millions) Note 2022 2021 2020 Net assets recognized as a result of acquisitions of businesses 24 -1 077 -735 -10 173 Fair value of previously held equity interests 21 42 7 Contingent consideration payables, net 205 59 98 Payments, deferred consideration and other adjustments, net -13 1 62 Cash flows used for acquisitions of businesses -864 -633 -10 006 Cash flows (used for)/from divestments of businesses, net 1 -15 66 49 Cash flows used for acquisitions and divestments of businesses, net -879 -567 -9 957 1 In 2022, USD 15 million net cash outflows from divestments of businesses included USD 20 million reduction to cash and cash equivalents due to the derecognized cash and cash equivalents following a loss of control of a company upon expiry of an option to purchase the company, partly offset by USD 5 million net cash inflows from business divestments in 2022 and in prior years. In 2022, the net identifiable assets of divested businesses amounted to USD 173 million, comprised of non-current assets of USD 132 million, current assets of USD 113 million, including USD 71 million cash and cash equivalents and of non-current and current liabilities of USD 72 million. Deferred sales price receivables and other adjustments amounted to USD 41 million. In 2021, USD 66 million included USD 52 million net cash inflows from divestments in previous years, and a USD 14 million net cash inflow from a business divestment in 2021, comprised of intangible assets. In 2020, USD 49 million represented the net cash inflows from divestments in previous years. Notes 2 and 24 provide further information regarding acquisitions and divestments of businesses. All acquisitions were for cash. 23.6) Reconciliation of liabilities arising from financing activities Current January 1, 2022 22 902 6 295 1 621 275 Increase in non-current financial debts 16 Repayments of the current portion of non-current financial debts -2 575 Change in current financial debts 1 295 Payments of lease liabilities -295 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities -51 New, modified and terminated leases, net 173 49 Impact of acquisitions and divestments of businesses, net 9 3 Changes in fair values, lease interest and other changes, net -13 60 Amortization of bonds discount 17 5 Currency translation effects -366 -401 -41 -14 Reclassification from non-current to current, net -2 325 2 325 -224 224 December 31, 2022 20 244 5 931 1 538 251 1 Change in current financial debts included net cash outflows from interest-bearing accounts of employees payable on demand amounting to USD 1.7 billion. See Note 21. Current January 1, 2021 26 259 9 785 1 719 286 Increase in non-current financial debts 16 Repayments of the current portion of non-current financial debts -2 162 Change in current financial debts -3 524 Payments of lease liabilities, net -316 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities -52 New, modified and terminated leases, net 192 61 Impact of acquisitions of businesses 1 Changes in fair values, lease interest and other changes, net -124 62 Amortization of bonds discount 25 4 Currency translation effects -774 -309 -43 -13 Reclassification from non-current to current, net -2 624 2 624 -247 247 December 31, 2021 22 902 6 295 1 621 275 Current January 1, 2020 20 353 7 031 1 703 246 Increase in non-current financial debts 7 126 Repayments of the current portion of non-current financial debts -2 003 Change in current financial debts 2 261 Payments of lease liabilities, net -312 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities -56 New, modified and terminated leases, net 221 73 Impact of acquisitions of businesses 32 36 8 Changes in fair values, lease interest and other changes, net -1 -30 65 Amortization of bonds discount 16 5 Currency translation effects 832 392 39 12 Reclassification from non-current to current, net -2 067 2 067 -250 250 December 31, 2020 26 259 9 785 1 719 286 23.7) Supplemental disclosures related to the Alcon business distributed to Novartis AG shareholders In 2020, net cash flows used in investing activities from discontinued operations of USD 127 million included the investing activities of the Alcon business, which was spun-off to Novartis AG shareholders on April 8, 2019, and cash outflows for transaction-related expenditures attributable to the series of portfolio transformation transactions completed in 2015. In 2020, net cash flows used in financing activities from discontinued operations of USD 50 million were for transaction cost payments directly attributable to the distribution (spin-off) of the Alcon business to Novartis AG shareholders on April 8, 2019. |
Acquisitions of businesses
Acquisitions of businesses | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of acquisition of businesses [abstract] | |
Acquisition of businesses | 24. Acquisitions of businesses Fair value of assets and liabilities arising from acquisitions of businesses: (USD millions) 2022 2021 2020 Property, plant and equipment 13 26 Right-of-use assets 12 32 Currently marketed products 292 196 Acquired research and development 1 209 262 8 600 Other intangible assets 98 218 Deferred tax assets 56 28 476 Non-current financial and other assets 49 Inventories 84 Trade receivables and financial and other current assets 5 1 109 Cash and cash equivalents 89 10 76 Deferred tax liabilities -300 -74 -1 977 Current and non-current financial debts -1 -32 Current and non-current lease liabilities -12 -44 Trade payables and other liabilities -67 -4 -144 Net identifiable assets acquired 1 005 612 7 669 Acquired cash and cash equivalents -89 -10 -76 Non-controlling interests -105 Goodwill 161 238 2 580 Net assets recognized as a result of acquisitions of businesses 1 077 735 10 173 Note 2 details significant acquisitions of businesses, specifically of Gyroscope in 2022, the cephalosporin antibiotics business from GSK in 2021; and of the The Medicines Company and the Japanese business of AGI in 2020. The goodwill arising out of these acquisitions is attributable to the buyer-specific synergies, the assembled workforce, and the accounting for deferred tax liabilities on the acquired assets. In 2022, no goodwill (2021: USD 107 million; 2020: USD 74 million) is tax deductible. |
Post-employment benefits for em
Post-employment benefits for employees | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of defined benefit plans [abstract] | |
Post-employment benefits for employees | 25. Post-employment benefits for employees Defined benefit plans In addition to the legally required social security schemes, the Group has numerous independent pension and other post-employment benefit plans. In most cases, these plans are externally funded in entities that are legally separate from the Group. For certain Group companies, however, no independent plan assets exist for the pension and other post-employment benefit obligations of employees. In these cases, the related unfunded liability is included in the balance sheet. The defined benefit obligations (DBOs) of all major pension and other post-employment benefit plans are reappraised annually by independent actuaries. Plan assets are recognized at fair value. The major plans are based in Switzerland, the United States, the United Kingdom, Germany and Japan, which represent 95% 83% Swiss-based pension plans represent the most significant portion of the Group’s total DBO and plan assets. For the active insured members the benefits are linked to contributions paid into the plan, interest credits granted and conversion rates applied. All benefits granted under Swiss-based pension plans are vested, and Swiss legislation prescribes that the employer has to contribute a fixed percentage of an employee’s pay to an external pension fund. Additional employer contributions may be required whenever the plan’s statutory funding ratio falls below a certain level. The employee also contributes to the plan. The pension plans are run by separate legal entities, each governed by a board of trustees that – for the principal plans – consists of representatives nominated by Novartis and the active insured employees. The boards of trustees are responsible for the plan design and asset investment strategy. In December 2020, the Board of Trustees of the Novartis Swiss Pension Fund agreed to adjust the annuity conversion rate at retirement with effect from January 1, 2022. This amendment did not affect existing pensioners, and its impact on existing plan participants will be mitigated by way of defined compensatory measures. This amendment resulted in a net pre-tax curtailment gain of USD 101 million (CHF 90 million) recognized in 2020. The United States pension plans represent the second-largest component of the Group’s total DBO and plan assets. The principal plans (Qualified Plans) are funded, whereas plans providing additional benefits for executives (Restoration Plans) are unfunded. Employer contributions are required for Qualified Plans whenever the statutory funding ratio falls below a certain level. Furthermore, in certain countries, employees are covered under other post-employment benefit plans and post-retirement medical plans. In the US, other post-employment benefit plans consist primarily of post-employment healthcare benefits, which have been closed to new members since 2015. Part of the costs of these plans is reimbursable under the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. There is no statutory funding requirement for these plans. The Group is funding these plans to the extent that it is tax efficient. The following tables are a summary of the funded and unfunded defined benefit obligation for pension and other post-employment benefit plans of employees at December 31, 2022 and 2021: Pension plans Other post-employment benefit plans (USD millions) 2022 2021 2022 2021 Benefit obligation at January 1 23 583 25 602 560 632 Current service cost 348 415 12 11 Interest cost 249 151 17 16 Past service costs and settlements -40 63 1 -3 Administrative expenses 23 24 Remeasurement gains arising from changes in financial assumptions 1 -5 046 -713 -94 -20 Remeasurement (gains)/losses arising from changes in demographic assumptions -53 -377 4 Experience-related remeasurement losses/(gains) 199 531 -28 -47 Currency translation effects -650 -865 -2 -1 Benefit payments -1 253 -1 450 -44 -32 Contributions of employees 174 179 Effect of acquisitions, divestments or transfers -1 23 Benefit obligation at December 31 17 533 23 583 422 560 Fair value of plan assets at January 1 22 420 22 317 73 89 Interest income 220 105 2 2 Return on plan assets excluding interest income -2 500 1 512 -12 7 Currency translation effects -539 -726 Novartis Group contributions 424 490 41 7 Contributions of employees 174 179 Settlements -1 -7 Benefit payments -1 253 -1 450 -44 -32 Effect of acquisitions, divestments or transfers Fair value of plan assets at December 31 18 945 22 420 60 73 Funded status 1 412 -1 163 -362 -487 Limitation on recognition of fund surplus at January 1 -62 -51 Change in limitation on recognition of fund surplus -2 504 -16 Currency translation effects -76 6 Interest income on limitation of fund surplus -2 -1 Limitation on recognition of fund surplus at December 31 2 -2 644 -62 Net liability in the balance sheet at December 31 -1 232 -1 225 -362 -487 1 2 As of December 31, 2022, the most significant pension plans where the asset ceiling was required to be applied were in Switzerland and amounted to USD 2 587 million. The reconciliation of the net liability from January 1 to December 31 is as follows: Pension plans Other post-employment benefit plans (USD millions) 2022 2021 2022 2021 Net liability at January 1 -1 225 -3 336 -487 -543 Current service cost -348 -415 -12 -11 Net interest expense -31 -47 -15 -14 Administrative expenses -23 -24 Past service costs and settlements 39 -70 -1 3 Remeasurements 2 400 2 071 110 70 Currency translation effects 35 145 2 1 Novartis Group contributions 424 490 41 7 Effect of acquisitions, divestments or transfers 1 -23 Change in limitation on recognition of fund surplus -2 504 -16 Net liability at December 31 -1 232 -1 225 -362 -487 Amounts recognized in the consolidated balance sheet Prepaid benefit cost 491 1 415 Accrued benefit liability -1 723 -2 640 -362 -487 The following table shows a breakdown of the DBO for pension plans by geography and type of member, and the breakdown of plan assets into the geographical locations in which they are held: 2022 2021 United Rest of United Rest of Benefit obligation at December 31 11 824 2 746 2 963 17 533 15 268 3 645 4 670 23 583 Thereof unfunded 556 363 919 688 439 1 127 By type of member Active 4 799 431 931 6 161 6 478 620 1 412 8 510 Deferred pensioners 830 861 1 691 1 208 1 730 2 938 Pensioners 7 025 1 485 1 171 9 681 8 790 1 817 1 528 12 135 Fair value of plan assets at December 31 14 701 1 978 2 266 18 945 16 436 2 551 3 433 22 420 Funded status 2 877 -768 -697 1 412 1 168 -1 094 -1 237 -1 163 The following table shows a breakdown of the DBO for other post-employment benefit plans by geography and type of member, and the breakdown of plan assets into the geographical locations in which they are held: 2022 2021 United Rest of United Rest of Benefit obligation at December 31 346 76 422 473 87 560 Thereof unfunded 286 76 362 400 87 487 By type of member Active 30 18 48 60 23 83 Deferred pensioners 8 0 8 13 0 13 Pensioners 308 58 366 400 64 464 Fair value of plan assets at December 31 60 0 60 73 0 73 Funded status -286 -76 -362 -400 -87 -487 The following table shows the principal weighted average actuarial assumptions used for calculating defined benefit plans and other post-employment benefits of employees: Pension plans Other post-employment benefit plans 2022 2021 2020 2022 2021 2020 Weighted average assumptions used to determine benefit obligations at December 31 Discount rate 3.0% 0.9% 0.6% 6.3% 3.3% 2.9% Expected rate of pension increase 0.4% 0.5% 0.3% Expected rate of salary increase 2.9% 2.7% 2.7% Interest on savings account 2.2% 0.5% 0.1% Current average life expectancy for a 65-year-old male in years 22 22 22 21 21 21 Current average life expectancy for a 65-year-old female in years 24 24 24 23 23 23 Changes in the aforementioned actuarial assumptions can result in significant volatility in the accounting for the Group’s pension plans in the consolidated financial statements. This can result in substantial changes in the Group’s other comprehensive income, long-term liabilities and prepaid pension assets. The DBO is significantly impacted by assumptions regarding the rate that is used to discount the actuarially determined post-employment benefit liability. This rate is based on yields of high-quality corporate bonds in the country of the plan. Decreasing corporate bond yields decrease the discount rate, so that the DBO increases and the funded status decreases. In Switzerland, an increase in the DBO due to lower discount rates is slightly offset by lower future benefits expected to be paid on the employee’s savings account where the assumption on interest accrued often changes broadly in line with the discount rate. The impact of decreasing interest rates on a plan’s assets is more difficult to predict. A significant part of the plan assets is invested in bonds. Bond values usually rise when interest rates decrease and may therefore partially compensate for the decrease in the funded status. Furthermore, pension assets also include significant holdings of equity instruments. Share prices usually tend to rise when interest rates decrease and therefore often counteract the negative impact of the rising defined benefit obligation on the funded status (although the correlation of interest rates with equities is not as strong as with bonds, especially in the short term). The expected rate for pension increases significantly affects the DBO of most plans in Switzerland, Germany and the United Kingdom. Such pension increases also decrease the funded status, although there is no strong correlation between the value of the plan assets and pension/inflation increases. Assumptions regarding life expectancy significantly impact the DBO. An increase in longevity increases the DBO. There is no offsetting impact from the plan assets, as no longevity bonds or swaps are held by the pension funds. The Group’s actuaries use mortality tables which take into account historic patterns and expected changes, such as further increases in longevity. In 2022 the mortality assumptions used for the pension plans in Switzerland were based on BVG 2020 tables with future improvements based on the BVG generational model. In US for the Pension and Postretirement Medical Benefit Plans, the Society of Actuaries Pri-2012 mortality tables with generational improvements based on Scale MP-2021 are used. The following table shows the sensitivity of the defined benefit pension obligation to the principal actuarial assumptions for the major plans in Switzerland, the United States, the United Kingdom, Germany and Japan on an aggregated basis: Change in 2022 Change in 2021 25 basis point increase in discount rate -466 -790 25 basis point decrease in discount rate 491 839 One-year increase in life expectancy 535 869 25 basis point increase in rate of pension increase 316 512 25 basis point decrease in rate of pension increase -63 -136 25 basis point increase of interest on savings account 38 58 25 basis point decrease of interest on savings account -37 -58 25 basis point increase in rate of salary increase 37 54 25 basis point decrease in rate of salary increase -37 -54 The healthcare cost trend rate assumptions used for other post-employment benefits are as follows: 2022 2021 2020 Healthcare cost trend rate assumed for next year 6.5% 6.0% 6.3% Rate to which the cost trend rate is assumed to decline 4.5% 4.5% 4.5% Year that the rate reaches the ultimate trend rate 2031 2028 2028 The following table shows the weighted average plan asset allocation of funded defined benefit pension plans at December 31, 2022 and 2021: Pension plans Long-term Long-term Equity securities 15 40 24 27 Debt securities 20 60 31 33 Real estate 5 30 21 19 Alternative investments 0 20 18 15 Cash and other investments 0 15 6 6 Total 100 100 Cash and most of the equity and debt securities have a quoted market price in an active market. Real estate and alternative investments, which include hedge fund, private equity, infrastructure and commodity investments, usually have a quoted market price or a regularly updated net asset value. The strategic allocation of assets of the different pension plans is determined with the objective of achieving an investment return that, together with the contributions paid by the Group and its employees, is sufficient to maintain reasonable control over the various funding risks of the plans. Based upon the market and economic environments, actual asset allocations may temporarily be permitted to deviate from policy targets. The asset allocation currently includes investments in shares of Novartis AG as per the below table: December 31, December 31, Investment in shares of Novartis AG Number of shares (in millions) 2.3 2.3 Market value (in USD billions) 0.2 0.2 The weighted average duration of the defined benefit pension obligation is 11.8 years (2021: 14.9 years). The Group’s ordinary contribution to the various pension plans is based on the rules of each plan. Additional contributions are made whenever this is required by statute or law (i.e., usually when statutory funding levels fall below predetermined thresholds). The only significant plans that require additional funding are those in the United Kingdom and Germany. The expected future cash flows in respect of pension and other post-employment benefit plans at December 31, 2022, were as follows: Other post- Novartis Group contributions 2023 (estimated) 397 38 Expected future benefit payments 2023 1 268 38 2024 1 441 38 2025 1 128 38 2026 1 114 38 2027 1 099 38 2028–2032 5 310 171 Defined contribution plans In many subsidiaries, employees are covered by defined contribution plans. Contributions charged to the consolidated income statement for the defined contribution plans were: (USD millions) 2022 2021 2020 Contributions for defined contribution plans 520 523 501 The Group’s total personnel costs amounted to USD 14.9 billion in 2022. |
Equity-based participation plan
Equity-based participation plans for employees | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Equity-based participation plans for employees | 26. Equity-based participation plans for employees The expense related to all equity-based participation plans and the liabilities arising from equity-based payment transactions were as follows: (USD millions) 2022 2021 2020 Expense related to equity-based participation plans 1 048 979 958 Liabilities arising from equity-based payment transactions 235 253 269 Equity-based participation plans can be separated into the following plans: Annual Incentive The Annual Incentive for the Novartis Group CEO and other Executive Committee members (ECN) is paid 50% in cash and 50% in Novartis restricted shares (RSs) or restricted share units (RSUs). For the Novartis Top Leaders (NTLs), the Annual Incentive is paid 70% in cash and 30% in RSs or RSUs. Both the ECN and NTLs can opt to invest up to the maximum cash portion of their Annual Incentive to receive further RSs or RSUs. Any cash is paid out during March in the year following the end of the performance period, and the shares are granted during January in the year following the end of the performance period. Employee share savings plan Novartis operates employee share savings and purchase plans in certain countries. The most significant is described below. The Employee Share Ownership Plan (ESOP) in Switzerland offers participants to choose to receive their Annual Incentive (i) 100% in shares, (ii) 50% in shares and 50% in cash, or (iii) 100% in cash. After expiration of a three-year holding period for Novartis shares invested under the ESOP, participants will receive one matching share for every two invested shares. Employees eligible for the equity plan “Select” are not eligible to receive ESOP matching shares. The Novartis Group CEO, the other Executive Committee members and the NTLs are not eligible to participate in this plan. Novartis Employee share purchase plan In 2022 Novartis started to grant shares under the Employee Share Purchase Plan. The plan enables employees to voluntarily purchase Novartis shares through payroll deductions at a discounted price. While the plan is global in scope, the first phase covers: North America (the US, Puerto Rico and Canada). The shares are not subject to a vesting period. Novartis equity plan “Select” The equity plan “Select” is a global equity incentive plan under which eligible employees may annually be awarded a grant subject to a three-year, and for selected units a four-year, staggered vesting period. No awards are granted for performance ratings below a certain threshold. Executive Committee members and NTLs are not eligible to participate in the equity plan “Select.” The equity plan “Select” currently allows participants employed and living in Switzerland to choose the form of their equity compensation in RSs or RSUs. In all other jurisdictions, RSs or RSUs are granted unilaterally. Until 2013, participants could also choose to receive part or the entire grant in the form of tradable share options. Tradable share options expire on their 10 th th Options under Novartis equity plan “Select” outside North America The following table shows the activity associated with the share options during the period. The weighted average prices in the table below are translated from Swiss francs into USD at historical rates. 2022 2021 Weighted Weighted Options outstanding at January 1 1.7 63.6 2.6 62.0 Sold or exercised -1.2 62.6 -0.9 58.9 Outstanding at December 31 0.5 66.0 1.7 63.6 Exercisable at December 31 0.5 66.0 1.7 63.6 All share options were granted at an exercise price that was equal to the closing market price of the Group’s shares at the grant date. The weighted average share price at the dates of sale or exercise was USD 86.1. Options under Novartis equity plan “Select” for North America The following table shows the activity associated with the ADR options during the period: 2022 2021 Weighted Weighted Options outstanding at January 1 4.0 64.4 6.7 62.9 Sold or exercised -2.9 63.7 -2.7 60.7 Outstanding at December 31 1.1 66.1 4.0 64.4 Exercisable at December 31 1.1 66.1 4.0 64.4 All ADR options were granted at an exercise price that was equal to the closing market price of the ADRs at the grant date. The weighted average ADR price at the dates of sale or exercise was USD 89.1. Long-Term Performance Plan The Long-Term Performance Plan (LTPP) is an equity plan for the ECN, the NTLs and employees of Group units with specific targets. Participants are granted a target number of performance share units (PSUs) at the beginning of every performance period, which are converted into unrestricted Novartis shares after the performance period. The actual payout depends on the achievement of the performance measures and ranges between 0% and 200% of the granted amount. PSUs granted under the LTPP do not carry voting rights, but do carry dividend equivalents that are paid in unrestricted Novartis shares at the end of the performance period. The LTPP awards are subject to a three-year performance and vesting period. Until 2018, the performance criteria were based on Novartis internal performance metrics. For LTPP awards starting in 2019, following the combination of the two LTPP and Long-Term Relative Performance Plan (LTRPP), the performance criteria are based on both Novartis internal performance metrics and variables that can be observed in the market, which is the ranking of the Novartis total shareholder return (TSR) relative to a global healthcare peer group of 14 other companies, over rolling three-year performance periods. TSR for Novartis and the peer companies is calculated as the change in the company share price, which is translated to USD at the relevant exchange rate, including the reinvestment return of dividends, over the three-year performance period. The calculation is based on Bloomberg standard published TSR data, which is publicly available. The position of Novartis in the peer group determines the payout range based on a payout matrix. Long-Term Relative Performance Plan The LTRPP was an equity plan for the Novartis ECN and NTLs and the awards were subject to a three-year performance and vesting period. The last grant under this plan was made in 2018. The LTRPP performance criteria were based on variables that could be observed in the market, which was the ranking of the Novartis TSR relative to a global healthcare peer group of 14 other companies, over rolling three-year performance periods. The TSR for Novartis and the peer companies was calculated as described in the LTPP section above. Other share awards Selected employees may exceptionally receive Special Share Awards of RSs or RSUs. These Special Share Awards provide an opportunity to reward outstanding achievements or exceptional performance, and aim to retain key contributors. They are based on a formal internal selection process, through which the individual performance of each candidate is thoroughly assessed at several management levels. Special Share Awards had a minimum three-year vesting period before 2021 and mainly three years thereafter. In exceptional circumstances, Special Share Awards may be awarded to attract special expertise and new talents to the organization. Externally recruited ECN members are eligible only for special awards that are “buyouts” in the case that it is to replace equity forfeited with their former employer. The equity is provided on a like-for-like basis as the forfeited equity, at the same value with the same vesting period, and with or without a performance condition. Worldwide, employees at different levels in the organization were awarded RSs and RSUs in 2022, 2021 and 2020. In addition, in 2022, 2021 and 2020, Board members received unrestricted shares as part of their regular compensation. Summary of share grants The table below provides a summary of share grants (shares, RSs, RSUs and PSUs) for all plans: 2022 2021 Weighted Weighted Annual Incentive – RSU 0.2 74.7 0.2 87.5 – Restricted shares 0.1 85.0 0.1 97.0 Share savings plans – RSU 0.4 75.0 0.4 86.9 – Shares 1.2 85.0 1.1 97.0 Novartis Employee Share Purchase Plan 0.8 82.8 Select North America (RSU) 4.9 74.5 4.3 86.9 Select outside North America – RSU 2.0 75.1 1.8 86.9 – Restricted shares 0.7 85.0 0.6 97.0 Long-Term Performance Plan (PSU) 1.7 82.0 1.8 89.5 Other share awards – RSU 0.5 76.3 0.6 78.4 – Restricted shares 0.1 86.9 – Shares 0.1 86.1 0.1 91.9 |
Transactions with related parti
Transactions with related parties | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | |
Transactions with related parties | 27. Transactions with related parties Roche Holding AG Novartis has two agreements with Genentech, Inc., United States (Genentech), and one agreement with Spark Therapeutics, Inc., United States (Spark). Both companies are subsidiaries of Roche Holding AG (Roche), which were indirectly included in the consolidated financial statements using equity accounting until November 3, 2021, when Novartis entered into an agreement with Roche to divest its 33.3% Lucentis Novartis has licensed from Genentech/Roche the exclusive rights to develop and market Lucentis Lucentis Lucentis Xolair Novartis and Genentech/Roche are co-promoting Xolair Novartis markets Xolair Xolair Luxturna In 2018, Novartis entered into an exclusive licensing and commercialization agreement and a supply agreement with Spark for Luxturna The net income for royalties, cost sharing and profit sharing arising out of the Lucentis Xolair Luxturna Furthermore, Novartis has several patent license, supply and distribution agreements with Roche. Novartis Pension Fund In 2018, a Group subsidiary provided an uncommitted overnight credit facility to the Novartis Pension Fund, Switzerland, for up to USD 500 million with interest at the US Federal Funds Rate. This credit facility was not utilized during the current and past years. Executive Officers and Non-Executive Directors compensation At December 31, 2022, there were 11 Executive Committee members (“Executive Officers”). During 2022, 5 Executive Officers stepped down. At December 31, 2021, there were 12 Executive Officers. During 2021, 3 Executive Officers stepped down. At December 31, 2020, there were 13 Executive Officers. The total compensation for Executive Committee members and the 15 Non-Executive Directors (14 in 2021 and 14 in 2020) using the Group’s accounting policies for equity-based compensation and pension benefits was as follows: Executive Officers Non-Executive Directors Total (USD millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Cash and other compensation 25.0 20.3 25.6 4.6 4.7 4.6 29.6 25.0 30.2 Post-employment benefits 2.8 2.5 2.7 2.8 2.5 2.7 Equity-based compensation 42.6 37.3 41.1 4.8 5.2 5.2 47.4 42.5 46.3 Total 70.4 60.1 69.4 9.4 9.9 9.8 79.8 70.0 79.2 During 2022, there was an increase in the IFRS compensation expense for executive officers compared to 2021, driven by accelerated expenses (cash and other compensation and equity-based compensation) required under IFRS for the executive members who stepped down in 2022, in accordance with their employment contracts and the relevant incentive plan terms, compared to the accelerated expenses due to executive officers who stepped down in 2021. During 2021, the IFRS compensation expense decreased due to one role less at the ECN, and lower cash and equity compensation attributable to former ECN members, partially offset by the net increase of the IFRS compensation expense of current ECN members. The Annual Incentive award, which is fully included in equity-based compensation even when paid out in cash, is granted in January in the year following the reporting period. The disclosures on Board and executive compensation required by the Swiss Code of Obligations and in accordance with the Swiss Ordinance against Excessive Compensation in Stock Exchange Listed Companies are shown in the Compensation Report of the Group. Transactions with former members of the Board of Directors During 2022, 2021 and 2020, the following payments (or waivers of claims) were made to former Board members or to “persons closely” linked to them: Currency 2022 2021 2020 Dr. Krauer CHF 60 000 60 000 Dr. Alex Krauer, was an Honorary Chairman of Novartis and was entitled to an amount of CHF 60 000 for annual periods from one AGM to the next. This amount was fixed in 1998 upon his departure from the Board in 1999. The last payment under this arrangement was in 2021. |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and contingencies [abstract] | |
Commitments and contingencies | 28. Commitments and contingent liabilities Research and development commitments The Group has entered into long-term research and development agreements with various institutions related to intangible assets. These agreements provide for potential milestone payments by Novartis, which are dependent on successful clinical development, or meeting specified sales targets, or other conditions which are specified in the agreements. As of December 31, 2022, the amount and estimated timing of the Group’s commitments to make payments under those agreements, which are shown without risk adjustment and on an undiscounted basis, were as follows: (USD millions) 2022 2023 420 2024 808 2025 448 2026 282 2027 687 Thereafter 3 169 Total 5 814 Commitments for capital calls The Group holds investments in funds in which it has committed to invest further upon future capital calls. As of December 31, 2022, the total uncalled capital commitments for the Group’s investments in funds amounts to USD 83 million. Note 29 contains further information on the Group’s investments in funds. Other commitments The Group has entered into various purchase commitments for services and materials as well as for equipment in the ordinary course of business. These commitments are generally entered into at current market prices and reflect normal business operations. For disclosure of property, plant and equipment purchase commitments, see Note 9. Guarantees issued The Group has issued guarantees to third parties in the ordinary course of business, mostly for tax, customs or other governmental agencies. Contingent liabilities Group companies have to observe the laws, government orders and regulations of the country in which they operate. A number of Novartis companies are, and will likely continue to be, subject to various legal proceedings and investigations that arise from time to time, including proceedings regarding product liability; sales and marketing practices; commercial disputes; employment and wrongful discharge; and antitrust, securities, health and safety, environmental, tax, international trade, privacy and intellectual property matters. As a result, the Group may become subject to substantial liabilities that may not be covered by insurance and that could affect our business, financial position and reputation. While Novartis does not believe that any of these legal proceedings will have a material adverse effect on its financial position, litigation is inherently unpredictable and large judgments sometimes occur. As a consequence, Novartis may in the future incur judgments or enter into settlements of claims that could have a material adverse effect on its results of operations or cash flow. Governments and regulatory authorities around the world have been stepping up their compliance and law enforcement activities in recent years in key areas, including marketing practices, pricing, corruption, trade restrictions, embargo legislation, insider trading, antitrust, cyber security and data privacy. Further, when one government or regulatory authority undertakes an investigation, it is not uncommon for other governments or regulators to undertake investigations regarding the same or similar matters. Responding to such investigations is costly and requires an increasing amount of management’s time and attention. In addition, such investigations may affect our reputation, create a risk of potential exclusion from government reimbursement programs in the United States and other countries, and lead to (or arise from) litigation. These factors have contributed to decisions by Novartis and other companies in the healthcare industry, when deemed in their interest, to enter into settlement agreements with governmental authorities around the world prior to any formal decision by the authorities or a court. These government settlements have involved and may in the future involve large cash payments, sometimes in the hundreds of millions of dollars or more, including the potential repayment of amounts allegedly obtained improperly and other penalties, including treble damages. In addition, settlements of government healthcare fraud cases and antitrust cases often require companies to enter into corporate integrity agreements, which are intended to regulate company behavior for a period of years. Our affiliates Novartis Corporation and Sandoz Inc. are parties to such agreements, which will expire in 2025 and 2026, respectively. Also, matters underlying governmental investigations and settlements may be the subject of separate private litigation. While provisions have been made for probable outflows of economic resources, which management deems to be reasonable or appropriate, there are uncertainties connected with these estimates. Note 20 contains additional information on these matters. A number of Group companies are involved in legal proceedings concerning intellectual property rights. The inherent unpredictability of such proceedings means that there can be no assurances as to their ultimate outcome. A negative result in any such proceeding could potentially adversely affect the ability of certain Novartis companies to sell their products, or require the payment of substantial damages or royalties. The timing and the outcome of legal proceedings and their potential financial effect are not predictable. In the opinion of management, however, the outcome of these actions will not materially affect the Group’s financial position but could be material to the results of operations or cash flow in a given period. The Group’s potential environmental remediation liability is assessed based on a risk assessment and investigation of the various sites identified by the Group as at risk for environmental remediation exposure. The Group’s future remediation expenses are affected by a number of uncertainties. These uncertainties include, but are not limited to, the method and extent of remediation, the percentage of material attributable to the Group at the remediation sites relative to that attributable to other parties, and the financial capabilities of the other potentially responsible parties. Note 20 contains additional information on environmental liabilities. |
Financial instruments - additio
Financial instruments - additional disclosures | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments - additional disclosure [abstract] | |
Disclosure of detailed information about financial instruments [text block] | 29. Financial instruments – additional disclosures The following tables show the carrying values of financial instruments by measurement category as of December 31, 2022 and 2021. Except for straight bonds (see Note 19), the carrying values are equal to, or a reasonable approximation of, the fair values. 2022 Financial Cash and cash equivalents 16 7 517 Time deposits and short-term investments with original maturity more than 90 days 16 11 089 Trade receivables 15 8 066 Other receivables and current assets 17 958 Marketable securities - debt securities 16 9 Long-term financial investments - equity securities 13 828 317 Long-term financial investments - debt securities 13 37 Long-term financial investments - fund investments 13 281 Long-term loans, advances, security deposits and other long-term receivables 13 341 Associated companies at fair value through profit and loss 129 Derivative financial instruments 16 204 Contingent consideration receivables 13/17 650 Total financial assets 27 971 874 1 581 Bank and other short-term financial debt 21 863 Commercial paper 21 2 772 Straight bonds 19 22 341 Long-term liabilities to banks and other financial institutions 19 144 Trade payables 5 146 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 1 067 Derivative financial instruments 21 55 Lease liabilities 10 1 789 Total financial liabilities 31 266 1 122 1 789 2021 Financial Cash and cash equivalents 1 16 10 397 2 010 Time deposits and short-term investments with original maturity more than 90 days 16 12 965 Trade receivables 15 8 005 Other receivables and current assets 17 793 Marketable securities - debt securities 16 2 741 Long-term financial investments - equity securities 13 1 195 468 Long-term financial investments - debt securities 13 34 Long-term financial investments - fund investments 13 366 Long-term loans, advances, security deposits and other long-term receivables 13 332 Associated companies at fair value through profit and loss 192 Derivative financial instruments 16 105 Contingent consideration receivables 13 641 Total financial assets 32 492 5 980 1 772 Interest-bearing accounts of employees payable on demand 21 1 814 Bank and other short-term financial debt 21 899 Commercial paper 21 893 Straight bonds 19 25 296 Long-term liabilities to banks and other financial institutions 19 227 Trade payables 5 553 Commitment for repurchase of own shares 18/22 2 809 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 1 094 Derivative financial instruments 21 68 Lease liabilities 10 1 896 Total financial liabilities 37 491 1 162 1 896 1 Derivative financial instruments The following tables show the contract or underlying principal amounts and fair values of derivative financial instruments analyzed by type of contract at December 31, 2022 and 2021. Contract or underlying principal amounts indicate the gross volume of business outstanding at the consolidated balance sheet date and do not represent amounts at risk. The fair values are determined by reference to market prices or standard pricing models that use observable market inputs at December 31, 2022 and 2021. Contract or underlying principal amount Positive fair values Negative fair values (USD millions) 2022 2021 2022 2021 2022 2021 Forward foreign exchange rate contracts 7 907 13 248 189 92 -41 -35 Commodity purchase contract 97 17 15 13 Options on equity securities 39 82 -14 -33 Total derivative financial instruments included in marketable securities and in current financial debts 8 043 13 347 204 105 -55 -68 The following table shows a breakdown by currency of the contract or underlying principal amount of derivative financial instruments at December 31, 2022 and 2021: 2022 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 687 5 659 1 561 7 907 Commodity purchase contract 80 17 97 Options on equity securities 39 39 Total derivative financial instruments 767 5 715 1 561 8 043 2021 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 1 485 5 158 6 605 13 248 Commodity purchase contract 17 17 Options on equity securities 82 82 Total derivative financial instruments 1 485 5 257 6 605 13 347 Derivative financial instruments effective for hedge accounting purposes At the end of 2022 and 2021, there were no open hedging instruments for anticipated transactions. Fair value by hierarchy As required by IFRS, financial assets and liabilities recorded at fair value in the consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. There are three hierarchical levels, based on increasing subjectivity associated with the inputs to derive fair valuation for these assets and liabilities, which are as follows: The assets carried at Level 1 fair value are equity and debt securities as well as fund investments listed in active markets. The assets generally included in Level 2 fair value hierarchy are derivatives, and certain debt securities. The liabilities generally included in this fair value hierarchy consist of derivatives. These are valued using corroborated market data. Level 3 inputs are unobservable for the asset or liability. The assets generally included in Level 3 fair value hierarchy are various investments in funds and unquoted equity security investments. Contingent consideration and other financial liabilities carried at fair value are included in this category. 2022 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Marketable securities Debt securities 9 9 Derivative financial instruments 204 204 Total marketable securities and derivative financial instruments at fair value 213 213 Current contingent consideration receivables 43 43 Long-term financial investments Debt and equity securities 473 10 699 1 182 Fund investments 20 261 281 Non-current contingent consideration receivables 607 607 Total long-term financial investments at fair value 493 10 1 567 2 070 Associated companies at fair value through profit and loss 129 129 Financial liabilities Current contingent consideration liabilities -131 -131 Derivative financial instruments -55 -55 Total current financial liabilities at fair values -55 -131 -186 Non-current contingent consideration liabilities -704 -704 Other financial liabilities -232 -232 Total non-current financial liabilities at fair value -936 -936 2021 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents Debt securities 1 2 010 2 010 Total cash and cash equivalents at fair value 2 010 2 010 Marketable securities and derivative financial instruments Debt securities 2 719 22 2 741 Derivative financial instruments 105 105 Total marketable securities and derivative financial instruments at fair value 2 719 127 2 846 Long-term financial investments Debt and equity securities 1 080 617 1 697 Fund investments 28 338 366 Contingent consideration receivables 641 641 Total long-term financial investments at fair value 1 108 1 596 2 704 Associated companies at fair value through profit and loss 192 192 Financial liabilities Contingent consideration payables -1 075 -1 075 Derivative financial instruments -68 -68 Other financial liabilities -19 -19 Total financial liabilities at fair value -68 -1 094 -1 162 1 The change in carrying values associated with Level 3 financial instruments, using significant unobservable inputs during the year ended December 31, is set forth below: 2022 Associated January 1 192 338 617 641 -1 075 -19 Fair value gains and other adjustments, including from divestments recognized in the consolidated income statement 4 35 53 530 15 Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement -63 -78 -84 -114 -18 Fair value adjustments recognized in the consolidated statement of comprehensive income, including currency translation effects 24 11 Purchases 4 11 160 -231 -238 Cash receipts and payments -44 44 28 Disposals -12 -13 Reclassification -4 -2 -40 December 31 129 261 699 650 -835 -232 Total of fair value gains and losses recognized in the consolidated income statement for assets and liabilities held at December 31, 2022 -63 -74 -49 53 416 -3 2021 Associated January 1 211 366 460 625 -1 046 Fair value gains and other adjustments, including from divestments recognized in the consolidated income statement 2 70 69 124 182 Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement -26 -8 -13 -44 -189 Fair value adjustments recognized in the consolidated statement of comprehensive income, including currency translation effects -2 -1 51 -22 22 Purchases 34 12 137 -88 Cash receipts and payments -42 44 Disposals -27 -71 -43 Reclassification -30 -44 December 31 192 338 617 641 -1 075 Total of fair value gains and losses recognized in the consolidated income statement for assets and liabilities held at December 31, 2021 -24 62 56 80 -7 During 2022, there was one transfer of equity securities from Level 3 to Level 1 for USD 44 million (2021: USD 73 million), due to Initial Public Offering of the invested company. During 2022, there were no transfers of equity securities from Level 1 to Level 3 due to de-listing (2021: USD 29 million). Realized gains and losses associated with Level 3 long-term financial investments measured at fair value through the consolidated income statement are recorded in the consolidated income statement under “Other income” or “Other expense,” respectively. Realized gains and losses associated with Level 3 long-term financial investments measured at fair value through other comprehensive income are not recycled through the consolidated income statement but are instead reclassified to retained earnings. During the year, the net loss and net gain recorded on associated companies, fund investments and long-term financial investments at fair value through profit and loss were USD 316 million and USD 55 million, respectively. To determine the fair value of a contingent consideration, various unobservable inputs are used. A change in these inputs might result in a significantly higher or lower fair value measurement. The inputs used are, among others, the probability of success, sales forecast and assumptions regarding the discount rate and timing and different scenarios of triggering events. The inputs are interrelated. The significance and usage of these inputs to each contingent consideration may vary due to differences in the timing and triggering events for payments or in the nature of the asset related to the contingent consideration. If the most significant parameters for the Level 3 input were to change by 10% positively or negatively, or where the probability of success (POS) is the most significant input parameter, 10% were added or deducted from the applied probability of success, for contingent consideration payables and contingent consideration receivables, this would change the amounts recorded in the 2022 consolidated income statement by USD 154 million and USD 140 million, respectively. Equity securities measured at fair value through other comprehensive income Equity securities held as strategic investments, typically held outside the Novartis Venture Fund, are generally designated at date of acquisition as financial assets valued at fair value through other comprehensive income with no subsequent recycling through profit and loss. These are made up of individually non-significant investments. At December 31, 2022, the Group holds 65 non-listed equity securities (December 31, 2021: 60) and 46 listed equity securities (December 31, 2021: 40) in this category with the following fair values: (USD millions) 2022 2021 Listed equity securities 438 888 Non-listed equity securities 390 307 Total equity securities 828 1 195 During 2022 and 2021, dividends received from these equity securities were insignificant. In 2022, in accordance with the consolidated foundations Alcon Inc. shares divestment plans, Alcon Inc. shares with a fair value of USD 22 million were sold (2021: USD 9 million), and the USD 7 million gain on disposal (2021: USD 1 million gain) was transferred from other comprehensive income to retained earnings during 2022. In addition, in 2022, equity securities that were no longer considered strategic, with a fair value of USD 3 million (2021: USD 254 million), were sold, and the USD 3 million loss on disposal (2021: USD 211 million gain) was transferred from other comprehensive income to retained earnings (see Note 8). Nature and extent of risks arising from financial instruments Market risk Market risk in general comprises currency risk, interest rate risk and price risk, such as commodity and equity prices. Novartis is exposed to market risk, primarily related to foreign currency exchange rates, interest rates and the market value of the investments. The Group actively monitors and seeks to reduce, where it deems it appropriate to do so, fluctuations in these exposures. It is the Group’s policy and practice to enter into a variety of derivative financial instruments to manage the volatility of these exposures. It does not enter into any financial transactions containing a risk that cannot be quantified at the time the transaction is concluded. In addition, it does not sell short assets it does not have, or does not know it will have, in the future. The Group only sells existing assets or enters into transactions and future transactions (in the case of anticipatory hedges) that it confidently expects it will have in the future, based on past experience. Foreign currency exchange rate risk The Group uses the US dollar as its reporting currency. As a result, the Group is exposed to foreign currency exchange movements, primarily in European, Japanese and emerging market currencies. Fluctuations in the exchange rates between the US dollar and other currencies can have a significant effect on both the Group’s results of operations, including reported sales and earnings, as well as on the reported value of our assets, liabilities and cash flows. This, in turn, may significantly affect the comparability of period-to-period results of operations. Because our expenditures in Swiss francs are significantly higher than our revenues in Swiss francs, volatility in the value of the Swiss franc can have a significant impact on the reported value of our earnings, assets and liabilities, and the timing and extent of such volatility can be difficult to predict. There is also a risk that certain countries could experience a devaluation of their currency. If this occurs, it could impact the effective prices we would be able to charge for our products and also have an adverse impact on both our consolidated income statement and balance sheet. Subsidiaries whose functional currencies have experienced a cumulative inflation rate of more than 100% over the past three years apply the principles of IAS 29 “Financial reporting in Hyperinflationary Economies.” The hyperinflationary economies in which Novartis operates are Argentina, Venezuela and Turkey. Venezuela and Argentina were hyperinflationary for all periods presented, and Turkey became hyperinflationary effective May 1, 2022, requiring retroactive implementation of hyperinflation accounting as of January 1, 2022. The impacts of applying IAS 29 were not significant in all years presented. The Group manages its global currency exposure by engaging in hedging transactions where management deems appropriate. Novartis may enter into various contracts that reflect the changes in the value of foreign currency exchange rates to preserve the value of assets, commitments and anticipated transactions. Novartis also uses forward contracts and may enter into foreign currency option contracts to hedge. Net investments in subsidiaries in foreign countries are long-term investments. Their fair value changes through movements of foreign currency exchange rates. The Group has designated a certain portion of its long-term euro-denominated straight bonds, maturing in 2028, as hedges of the translation risk arising on certain of these net investments in foreign operations with euro functional currency. As of December 31, 2022, long-term financial debt with a carrying amount of EUR 1.8 billion (USD 2.0 billion; December 31, 2021: USD 2.1 billion), has been designated as a hedge instrument. During 2022, USD 91 million of net of taxes unrealized income (2021: USD 216 million) was recognized in other comprehensive income and accumulated in currency translation effects in relation with this net investment hedge. The hedge remained effective since inception, and no amount was recognized in the consolidated income statement in 2022, 2021 and 2020. Commodity price risk The Group has only a very limited exposure to price risk related to anticipated purchases of certain commodities used as raw materials by the Group’s businesses. A change in those prices may alter the gross margin of a specific business, but generally by not more than 10% Interest rate risk The Group addresses its net exposure to interest rate risk mainly through the ratio of its fixed-rate financial debt to variable-rate financial debt contained in its total financial debt portfolio. To manage this mix, Novartis may enter into interest rate swap agreements, in which it exchanges periodic payments based on a notional amount and agreed-upon fixed and variable interest rates. Equity risk The Group may purchase equities as investments of its liquid funds. As a policy, it limits its holdings in an unrelated company to less than 5% Credit risk Credit risks arise from the possibility that customers may not be able to settle their obligations as agreed. To manage this risk, the Group periodically assesses country and customer credit risk, assigns individual credit limits, and takes actions to mitigate credit risk where appropriate (for example payment guarantees, credit insurance and factoring). The provisions for expected credit losses for customers are based on a forward-looking expected credit loss, which includes possible default events on the trade receivables over the entire holding period of the trade receivables. In measuring the expected credit losses, trade receivables are grouped based on shared credit risk characteristics (such as private versus public receivables) and days past due. In determining the expected credit loss rates, the Group considers current and forward-looking macroeconomic factors that may affect the ability of the customers to settle the receivables, and historical loss rates for each category of customers. The Group’s largest customer accounted for approximately 16% 11% 7% 17% 11% 6% 17% 11% 6% The highest amounts of trade receivables outstanding were for these same three customers and amounted to 16% 14% 7% 16% 12% 7% Counterparty risk Counterparty risk encompasses issuer risk on marketable securities and money market instruments; credit risk on cash, time deposits and derivatives; as well as settlement risk for different instruments. Issuer risk is reduced by only buying securities that are at least A- rated. Counterparty credit risk and settlement risk are reduced by a policy of entering into transactions with counterparties (banks or financial institutions) that feature a strong credit rating. Exposure to these risks is closely monitored and kept within predetermined parameters. The limits are regularly assessed and determined based upon credit analysis, including financial statement and capital adequacy ratio reviews. In addition, reverse repurchasing agreements are contracted, and Novartis has entered into credit support agreements with various banks for derivative transactions. To further reduce the settlement risk, the Group has implemented a multi-currency payment system, Continuous Linked Settlement (CLS), providing multilateral netting (payment-versus-payment settlement) of cash flows from foreign exchange transactions. The Group’s cash and cash equivalents are held with major regulated financial institutions; the three largest ones hold approximately 13.2% 9.2% 6.8% 9.7% 9.7% 7.6% 16% The Group does not expect any losses from non-performance by these counterparties and does not have any significant grouping of exposures to financial sector or country risk. Liquidity risk Liquidity risk is defined as the risk that the Group could not be able to settle or meet its obligations associated with financial liabilities that are settled by delivering cash or another financial asset. Group Treasury is responsible for liquidity, funding and settlement management. In addition, liquidity and funding risks, and related processes and policies, are overseen by management. Novartis manages its liquidity risk on a consolidated basis according to business needs and tax, capital or regulatory considerations, if applicable, through numerous sources of financing in order to maintain flexibility. Certain countries have legal or economic restrictions on the ability of subsidiaries to transfer funds to the Group in the form of cash dividends, loans or advances, but these restrictions do not have an impact on the ability of the Group to meet its cash obligations. Management monitors the Group’s net debt or liquidity position through rolling forecasts on the basis of expected cash flows. Novartis has two US commercial paper programs under which it can issue up to USD 9.0 billion in the aggregate of unsecured commercial paper notes. Novartis also has one Japanese commercial paper program under which it can issue up to JPY 150 billion (approximately USD 1.1 billion) of unsecured commercial paper notes. Commercial paper notes totaling USD 2.8 billion under these three programs were outstanding as per December 31, 2022 (2021: USD 0.9 billion). Novartis further has a committed credit facility of USD 6.0 billion, which was extended in September 2022. This credit facility is provided by a syndicate of banks and is intended to be used as a backstop for the US commercial paper programs. The facility matures in September 2025 and was undrawn as per December 31, 2022, and December 31, 2021. The following table sets forth how management monitors net debt or liquidity based on details of the remaining contractual maturities of current financial assets and liabilities, excluding trade receivables and payables as well as liabilities for contingent consideration at December 31, 2022, and December 31, 2021: 2022 Due later than Due later than Due later than Current assets Marketable securities, time deposits and short-term investments with original maturity more than 90 days and accrued interest 4 142 6 911 36 9 11 098 Commodities 111 111 Derivative financial instruments 23 147 19 15 204 Cash and cash equivalents 4 011 3 506 7 517 Total current financial assets 8 176 10 564 55 135 18 930 Non-current liabilities Financial debt -8 975 -11 269 -20 244 Financial debt - undiscounted -9 002 -11 394 -20 396 Total non-current financial debt -8 975 -11 269 -20 244 Current liabilities Financial debt -3 215 -146 -2 515 -5 876 Financial debt - undiscounted -3 215 -146 -2 517 -5 878 Derivative financial instruments -38 -13 -4 -55 Total current financial debt -3 253 -159 -2 519 -5 931 Net debt 4 923 10 405 -2 464 -8 975 -11 134 -7 245 2021 Due later than Due later than Due later than Current assets Marketable securities, time deposits and short-term investments with original maturity more than 90 days and accrued interest 11 14 585 1 088 4 18 15 706 Commodities 111 111 Derivative financial instruments 21 64 7 13 105 Cash and cash equivalents 7 406 5 001 12 407 Total current financial assets 7 438 19 650 1 095 4 142 28 329 Non-current liabilities Financial debt -8 464 -14 438 -22 902 Financial debt - undiscounted -8 490 -14 587 -23 077 Total non-current financial debt -8 464 -14 438 -22 902 Current liabilities Financial debt -2 780 -521 -2 926 -6 227 Financial debt - undiscounted -2 780 -521 -2 928 -6 229 Derivative financial instruments -50 -16 -2 -68 Total current financial debt -2 830 -537 -2 928 -6 295 Net debt 4 608 19 113 -1 833 -8 460 -14 296 -868 The carrying amounts of financial liabilities included in the above analysis are not materially different to the contractual amounts due on maturity. The positive and negative fair values on derivative financial instruments represent the net contractual amounts to be exchanged at maturity. The Group’s contractual undiscounted potential cash flows from derivative financial instruments to be settled on a gross basis are as follows: 2022 Due later than Due later than Derivative financial instruments and accrued interest on derivative financial instruments Potential outflows in various currencies - from financial derivative liabilities -2 029 -4 598 -316 -6 943 Potential inflows in various currencies - from financial derivative assets 2 029 4 712 321 7 062 2021 Due later than Due later than Derivative financial instruments and accrued interest on derivative financial instruments Potential outflows in various currencies - from financial derivative liabilities -843 -5 482 -461 -6 786 Potential inflows in various currencies - from financial derivative assets 847 5 516 457 6 820 Other contractual liabilities that are not part of management’s monitoring of the net debt or liquidity consist of the following items: 2022 Due later than Due later than Contractual interest on non-current liabilities -64 -412 -1 432 -3 624 -5 532 Lease liabilities 1 -71 -180 -616 -922 -1 789 Trade payables -5 020 -126 -5 146 Contingent consideration liabilities -16 -115 -437 -267 -835 1 2021 Due later than Due later than Contractual interest on non-current liabilities -82 -445 -1 628 -3 908 -6 063 Lease liabilities 1 -78 -197 -639 -982 -1 896 Trade payables -5 373 -180 -5 553 Commitment for repurchase of own shares -2 809 -2 809 Contingent consideration liabilities -54 -65 -517 -439 -1 075 1 Capital risk management Novartis strives to maintain a strong credit rating. In managing its capital, Novartis focuses on maintaining a strong balance sheet. As of December 31, 2022, Moody’s Investors Service rated the Company A1 for long-term maturities and P-1 for short-term maturities, and S&P Global Ratings rated the Company AA- for long-term maturities and A-1+ for short-term maturities. Sensitivity analysis The Group uses sensitivity analysis disclosures to provide quantitative information about market risks to which it is exposed. The sensitivity analysis disclosures are in line with the Group’s financial risk management policy, and are based on a one-parameter risk model that considers a one-factor linear relationship between risk factors and exposures. They consider aggregated risk exposures arising from the most significant risk factors (currency risk, interest rate risk and equity price risk) and include all financial assets and financial liabilities as set forth in the table on page F-64. The disclosures below illustrate the potential impact on the Group’s consolidated financial statements as a result of hypothetical market movements in foreign currency exchange rates, interest rates and equity prices. The range of variables chosen reflects management’s view of changes that are reasonably possible over a one-year period. Foreign currency exchange rate sensitivity The Group uses the US dollar as its reporting currency. As a result, the Group is exposed to foreign currency exchange movements, primarily in European, Japanese and emerging market currencies, as well as in the Swiss franc. A strengthening (weakening) of the US dollar against these currencies as of December 31, 2022 and 2021 would have affected the measurement of financial instruments denominated in these foreign currencies. This analysis assumes that all other variables, in particular interest rates, remain constant. A hypothetical 5% (USD millions) 2022 2021 5% increase in foreign currency exchange rates against USD -6 3 5% decrease in foreign currency exchange rates against USD 7 -3 As of December 31, 2022, the Group designated EUR 1.8 billion (December 31, 2021: EUR 1.8 billion) of its long-term euro-denominated straight bonds as hedges of the translation risk arising on certain net investments in foreign operations with euro functional currency. This analysis assumes that all other variables, in particular interest rates, remain constant. A hypothetical 5% (USD millions) 2022 2021 5% increase in foreign currency exchange rates against USD 93 99 5% decrease in foreign currency exchange rates against USD -98 -104 Interest rate sensitivity Our portfolio of fixed-income instruments as of December 31, 2022, was mainly composed of time deposits and debt securities. Novartis uses duration models to approximate the possible change in the value of fixed-income instruments. Based on these models, management believes that a 100-basis point change in interest is deemed a reasonable possible change over a one-year period. Based on exposures in 2022 and 2021, a hypothetical 100-basis point increase (decrease) in interest rates would not have resulted in a significant increase (decrease) in the fair values of the fixed-income instruments. In addition, a hypothetical 100-basis point increase (decrease) in interest rates would not have resulted in a material increase (decrease) of cash flows attributable to such fixed-income instruments. The vast majority of our outstanding financial debts are straight bonds with fixed interest rates and are therefore not affected by movements in interest rates. Equity price sensitivity Fund investments and equity securities held by the Novartis Venture Fund are valued at fair value through profit and loss. Equity securities held as strategic investments, typically held outside the Novartis Venture Fund, are generally designated at date of acquisition as financial assets valued at fair value through other comprehensive income with no subsequent recycling through profit and loss. The fair value of these fund investments and equity securities was USD 1.6 billion as of December 31, 2022 (December 31, 2021: USD 2.2 billion). The fair values of these investments are impacted by the volatility of the stock market, valuation parameters applied (for non-listed equities) and changes in general economic factors. This analysis assumes that all other variables, in particular interest rates, remain constant. A hypothetical increase or decrease of 15% (USD millions) 2022 2021 15% increase in equity prices 109 154 15% decrease in equity prices -109 -154 A hypothetical increase or decrease of 15% (USD millions) 2022 2021 15% increase in equity prices 124 179 15% decrease in equity prices -124 -179 |
Events subsequent to the Decemb
Events subsequent to the December 31 consolidated balance sheet date | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Events subsequent to the December 31 consolidated balance sheet date | 30. Events subsequent to the December 31, 2022, consolidated balance sheet date South Korea investigation – Concluded matter In January 2023, the Supreme Court dismissed the appeal by the Seoul Western District Prosecutor on the criminal investigation on, among other things, allegations that Novartis Korea utilized medical journals to provide inappropriate economic benefits to healthcare professionals (HCPs). This matter is now concluded. For additional information see Note 20. Dividend proposal for 2022 and approval of the Group’s 2022 consolidated financial statements On January 31, 2023, the Novartis AG Board of Directors proposed the acceptance of the 2022 consolidated financial statements of the Novartis Group for approval by the Annual General Meeting on March 7, 2023. Furthermore, also on January 31, 2023, the Board proposed a dividend of CHF 3.20 per share to be approved at the Annual General Meeting on March 7, 2023. If approved, total dividend payments would amount to approximately USD 7.3 billion (2021: USD 7.5 billion), using the CHF/USD December 31, 2022, exchange rate. |
Principal Group subsidiaries an
Principal Group subsidiaries and associated companies | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of subsidiaries [abstract] | |
Principal Group subsidiaries and associated companies | 31. Principal Group subsidiaries and associated companies The following table lists the principal subsidiaries controlled by Novartis, associated companies in which Novartis is deemed to have significant influence, and foundations required to be consolidated under IFRS. It includes all subsidiaries, associated companies and consolidated foundations with total assets or net sales to third parties in excess of USD 25 million. The equity interest percentage shown in the table also represents the share in voting rights in those entities. Share 1 Equity Algeria Société par actions SANDOZ Algiers DZD 650.0 m 100% Argentina Novartis Argentina S.A. Buenos Aires ARS 906.1 m 100% Australia Novartis Australia Pty Ltd Macquarie Park, NSW AUD 2 100% Novartis Pharmaceuticals Australia Pty Ltd Macquarie Park, NSW AUD 3.8 m 100% Sandoz Pty Ltd Macquarie Park, NSW AUD 11.6 m 100% Austria Novartis Austria GmbH Vienna EUR 1.0 m 100% Novartis Pharma GmbH Vienna EUR 1.1 m 100% Sandoz GmbH Kundl EUR 32.7 m 100% EBEWE Pharma Ges.m.b.H Nfg. KG Unterach am Attersee EUR 1.0 m 100% Bangladesh Novartis (Bangladesh) Limited Gazipur BDT 162.5 m 60% Belgium Novartis Pharma NV Vilvoorde EUR 72.1 m 100% Sandoz NV Vilvoorde EUR 19.2 m 100% Alcon - Couvreur NV Puurs EUR 110.6 m 100% Bermuda Novartis Investment Ltd. Hamilton 2 USD 12 000 100% Novartis Securities Investment Ltd. Hamilton CHF 30 000 100% Novartis Finance Services Ltd. Hamilton CHF 20 000 100% Triangle International Reinsurance Limited Hamilton CHF 1.0 m 100% Trinity River Insurance Co Ltd. Hamilton USD 370 000 100% Brazil Novartis Biociências S.A. São Paulo BRL 507.1 m 100% Sandoz do Brasil Indústria Farmacêutica Ltda. Cambé, PR BRL 190.0 m 100% Canada Novartis Pharmaceuticals Canada Inc. Dorval, Quebec CAD 1.2 m 100% Sandoz Canada Inc. Boucherville, Quebec CAD 80.8 m 100% Chile Novartis Chile S.A. Santiago de Chile CLP 2.0 bn 100% China Beijing Novartis Pharma Co., Ltd. Beijing USD 30.0 m 100% Novartis Pharmaceuticals (HK) Limited Hong Kong HKD 200 100% China Novartis Institutes for BioMedical Research Co., Ltd. Shanghai USD 320.0 m 100% Suzhou Novartis Technical Development Co., Ltd. Changshu USD 12.0 m 100% Shanghai Novartis Trading Ltd. Shanghai USD 3.2 m 100% Sandoz (China) Pharmaceutical Co., Ltd. Zhongshan USD 57.6 m 100% Colombia Novartis de Colombia S.A. Santafé de Bogotá COP 7.9 bn 100% Croatia Sandoz d.o.o. farmaceutska industrija Zagreb HRK 25.6 m 100% Czech Republic Novartis s.r.o. Prague CZK 51.5 m 100% Sandoz s.r.o. Prague CZK 44.7 m 100% Denmark Novartis Healthcare A/S Copenhagen DKK 14.0 m 100% Sandoz A/S Copenhagen DKK 12.0 m 100% Ecuador Novartis Ecuador S.A. Quito USD 4.0 m 100% Egypt Novartis Pharma S.A.E. Cairo EGP 1.3 bn 99.96% Sandoz Egypt Pharma S.A.E. New Cairo City EGP 250 000 100% Finland Novartis Finland Oy Espoo EUR 459 000 100% Share 1 Equity France Novartis Groupe France S.A. Rueil-Malmaison EUR 903.0 m 100% Novartis Pharma S.A.S. Rueil-Malmaison EUR 43.4 m 100% Novartis Gene Therapies France SAS Rueil-Malmaison EUR 10 000 100% Advanced Accelerator Applications S.A. Rueil-Malmaison EUR 9.6 m 99.23% Advanced Accelerator Applications Molecular Imaging France Saint-Genis-Pouilly EUR 7.5 m 99.23% CELLforCURE Les Ulis EUR 4.2 m 100% Sandoz S.A.S. Levallois-Perret EUR 5.4 m 100% Germany Novartis Deutschland GmbH Nuremberg EUR 155.5 m 100% Novartis Business Services GmbH Wehr EUR 25 000 100% Novartis Pharma GmbH Nuremberg EUR 25.6 m 100% Novartis Pharma Produktions GmbH Wehr EUR 2.0 m 100% Sandoz International GmbH Holzkirchen EUR 100 000 100% 1 A Pharma GmbH Holzkirchen EUR 26 000 100% HEXAL AG Holzkirchen EUR 93.7 m 100% Salutas Pharma GmbH Barleben EUR 42.1 m 100% Aeropharm GmbH Rudolstadt EUR 26 000 100% Greece Novartis (Hellas) S.A.C.I. Metamorphosis / Athens EUR 233.9 m 100% Hungary Novartis Hungary Healthcare Limited Liability Company Budapest HUF 545.6 m 100% Sandoz Hungary Limited Liability Company Budapest HUF 883.0 m 100% India Novartis India Limited Mumbai INR 123.5 m 70.68% Novartis Healthcare Private Limited Mumbai INR 60.0 m 100% Sandoz Private Limited Mumbai INR 32.0 m 100% Indonesia PT. Novartis Indonesia Jakarta IDR 7.7 bn 100% Ireland Novartis Ireland Limited Dublin EUR 25 000 100% Novartis Integrated Services Limited Cork City EUR 100 100% Novartis Gene Therapies EU Limited Dublin EUR 100 100% Israel Novartis Israel Ltd. Tel Aviv ILS 1 000 100% Italy Novartis Farma S.p.A. Milan EUR 18.2 m 100% Advanced Accelerator Applications (Italy) S.r.l. Pozzilli EUR 119 000 99.23% Sandoz S.p.A. Origgio EUR 1.7 m 100% Japan Novartis Pharma K.K. Tokyo JPY 100.0 m 100% Ciba-Geigy Japan Limited Tokyo JPY 100.0 m 100% Sandoz K.K. Tokyo JPY 100.0 m 100% Latvia Novartis Baltics SIA Riga EUR 3.0 m 100% Luxembourg Novartis Investments S.à r.l. Luxembourg City 2 USD 100.0 m 100% Novartis Finance S.A. Luxembourg City USD 100 000 100% Malaysia Novartis Corporation (Malaysia) Sdn. Bhd. Petaling Jaya MYR 3.3 m 100% Mexico Novartis Farmacéutica, S.A. de C.V. Mexico City MXN 205.0 m 100% Sandoz, S.A. de C.V. Mexico City MXN 468.2 m 100% Morocco Novartis Pharma Maroc SA Casablanca MAD 80.0 m 100% Netherlands Novartis Netherlands B.V. Amsterdam EUR 1.4 m 100% Novartis Pharma B.V. Amsterdam EUR 4.5 m 100% IDB Holland BV Baarle-Nassau EUR 18 000 99.23% Sandoz B.V. Almere EUR 907 560 100% New Zealand Novartis New Zealand Ltd Auckland NZD 820 000 100% Share 1 Equity Norway Novartis Norge AS Oslo NOK 1.5 m 100% Pakistan Novartis Pharma (Pakistan) Limited Karachi PKR 6.7 bn 99.99% Panama Novartis Pharma (Logistics), Inc. Panama City USD 10 000 100% Philippines Novartis Healthcare Philippines, Inc. Makati City PHP 298.8 m 100% Sandoz Philippines Corporation Makati City PHP 30.0 m 100% Poland Novartis Poland Sp. z o.o. Warsaw PLN 44.2 m 100% Sandoz Polska Sp. z o.o. Warsaw PLN 25.6 m 100% Lek S.A. Strykow PLN 11.4 m 100% Portugal Novartis Portugal, S.G.P.S., Lda. Porto Salvo EUR 500 000 100% Novartis Farma - Produtos Farmacêuticos, S.A. Porto Salvo EUR 2.4 m 100% Sandoz Farmacêutica, Lda. Porto Salvo EUR 499 900 100% Romania Novartis Pharma Services Romania S.R.L. Bucharest RON 3.0 m 100% Sandoz S.R.L. Targu-Mures RON 119.5 m 100% Russian Federation Novartis Pharma LLC Moscow RUB 20.0 m 100% Novartis Neva LLC St. Petersburg RUB 500.0 m 100% JSC Sandoz Moscow RUB 57.4 m 100% Saudi Arabia Novartis Saudi Ltd. Riyadh SAR 30.0 m 100% Singapore Novartis (Singapore) Pte Ltd. Singapore SGD 100 000 100% Novartis Singapore Pharmaceutical Manufacturing Pte Ltd Singapore SGD 45.0 m 100% Novartis Asia Pacific Pharmaceuticals Pte Ltd Singapore SGD 39.0 m 100% Slovakia Novartis Slovakia s.r.o. Bratislava EUR 2.0 m 100% Slovenia Lek Pharmaceuticals d.d. Ljubljana EUR 48.4 m 100% Sandoz Pharmaceuticals d.d. Ljubljana EUR 1.5 m 100% South Africa Novartis South Africa (Pty) Ltd Midrand ZAR 86.3 m 100% Sandoz South Africa (Pty) Ltd Midrand ZAR 3.0 m 100% South Korea Novartis Korea Ltd. Seoul KRW 24.5 bn 100% Spain Novartis Farmacéutica, S.A. Barcelona EUR 63.0 m 100% Advanced Accelerator Applications Iberica, S.L.U. Esplugues de Llobregat EUR 22.6 m 99.23% Sandoz Farmacéutica S.A. Madrid EUR 270 450 100% Sandoz Industrial Products S.A. Les Franqueses del Vallés / Barcelona EUR 9.3 m 100% Abadia Retuerta S.A. Sardón de Duero / Valladolid EUR 6.0 m 100% Sweden Novartis Sverige AB Stockholm SEK 5.0 m 100% Switzerland Novartis International AG Basel CHF 10.0 m 100% Novartis Holding AG Basel 2 CHF 100.2 m 100% Novartis International Pharmaceutical Investment AG Basel CHF 100 000 100% Novartis Bioventures AG Basel CHF 100 000 100% Novartis Forschungsstiftung Basel 3 -- -- -- Novartis Stiftung für Kaderausbildung Basel 3 -- -- -- Novartis-Mitarbeiterbeteiligungsstiftung Basel 3 -- -- -- Novartis Stiftung für Mensch und Umwelt Basel 3 -- -- -- Stiftung der Novartis AG für Erziehung, Ausbildung und Bildung Basel 3 -- -- -- Novartis Overseas Investments AG Basel CHF 1.0 m 100% Japat AG Basel CHF 50 000 100% Novartis Pharma AG Basel 2 CHF 350.0 m 100% Novartis Pharma Services AG Basel CHF 20.0 m 100% Novartis Pharma Schweizerhalle AG Muttenz CHF 18.9 m 100% Novartis Pharma Stein AG Stein CHF 251 000 100% Novartis Pharma Schweiz AG Risch CHF 5.0 m 100% Cellerys AG Schlieren CHF 129 630 20% Arctos Medical AG Bern CHF 360 020 100% Novartis Innovative Therapies AG Risch CHF 100 000 100% Advanced Accelerator Applications International SA Geneva CHF 9.3 m 99.23% Sandoz AG Basel 2 CHF 5.0 m 100% Sandoz Pharmaceuticals AG Risch CHF 100 000 100% Share 1 Equity Taiwan Novartis (Taiwan) Co., Ltd. Taipei TWD 170.0 m 100% Thailand Novartis (Thailand) Limited Bangkok THB 302.0 m 100% Turkey Novartis Saglik, Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. Istanbul TRY 448.0 m 100% Farmanova Saglik Hizmetleri Ltd. Sti. Istanbul TRY 6.7 m 100% Sandoz Ilaç Sanayi ve Ticaret A.S. Istanbul TRY 880.0 m 99.99% Sandoz Grup Saglik Ürünleri Ilaçlari Sanayi ve Ticaret A.S. Gebze - Kocaeli TRY 96.0 m 100% Ukraine Sandoz Ukraine LLC Kyiv UAH 8.0 m 100% United Arab Emirates Novartis Middle East FZE Dubai AED 7.0 m 100% United Kingdom Novartis UK Limited London GBP 25.5 m 100% Novartis Pharmaceuticals UK Limited London GBP 5.4 m 100% Novartis Grimsby Limited London GBP 250.0 m 100% Advanced Accelerator Applications (UK & Ireland) London GBP 100 99.23% Neutec Pharma Limited London GBP 7.7 m 100% Gyroscope Therapeutics Limited London GBP 1 492 100% Sandoz Limited Frimley / Camberley GBP 2.0 m 100% United States of America Novartis Corporation East Hanover, NJ USD 72.2 m 100% Novartis Finance Corporation East Hanover, NJ 2 USD 1 000 100% Novartis Capital Corporation East Hanover, NJ USD 1 100% Novartis Services, Inc. East Hanover, NJ USD 1 100% Novartis US Foundation East Hanover, NJ 3 -- -- -- Novartis Pharmaceuticals Corporation East Hanover, NJ 2 USD 650 100% Advanced Accelerator Applications USA, Inc. Millburn, NJ USD 1 99.23% Novartis Gene Therapies, Inc. Bannockburn, IL USD 1 100% Novartis Technology LLC East Hanover, NJ -- -- -- Novartis Institutes for BioMedical Research, Inc. Cambridge, MA USD 1 100% Cadent Therapeutics Cambridge, MA USD 0.1 100% Endocyte, Inc. East Hanover, NJ USD 1 100% Navigate BioPharma Services, Inc. Carlsbad, CA USD 1 100% The Medicines Company East Hanover, NJ USD 1 000 100% Sandoz Inc. Princeton, NJ USD 25 000 100% Oriel Therapeutics, Inc. Durham, NC USD 50.0 m 100% Fougera Pharmaceuticals Inc. Melville, NY USD 1 100% Eon Labs, Inc. Princeton, NJ USD 1 100% Venezuela Novartis de Venezuela, S.A. Caracas VES 0 100% Vietnam Novartis Vietnam Company Limited Ho Chi Minh City VND 70 bn 100% In addition, the Group is represented by subsidiaries and associated companies with total assets or net sales to third parties below USD 25 million in the following countries: Bosnia and Herzegovina, Bulgaria, Cameroon, Dominican Republic, Ghana, Guatemala, Ivory Coast, Kazakhstan, Kenya, Kuwait, North Macedonia, Nigeria, Peru, Senegal and Uruguay. 1 2 3 m = million; bn = billion |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Statement [line items] | |
Scope of consolidation | Scope of consolidation The consolidated financial statements include all entities, including structured entities, over which Novartis AG, Basel, Switzerland, directly or indirectly has control (generally as a result of owning more than 50% of the entity’s voting interest). Consolidated entities are also referred to as “subsidiaries.” In cases where Novartis does not fully own a subsidiary, it has elected to value any remaining outstanding non-controlling interest at the time of acquiring control of the subsidiary at its proportionate share of the fair value of the net identified assets. Investments in associated companies (generally defined as investments in entities in which Novartis holds between 20% and 50% of voting shares or over which it otherwise has significant influence) and joint ventures are accounted for using the equity method, except for selected venture fund investments for which the Group has elected to apply the method of fair value through the consolidated income statement. |
Foreign currencies | Foreign currencies The consolidated financial statements of Novartis are presented in US dollars (USD). The functional currency of a subsidiary is generally the local currency of that respective entity. The functional currency used for the reporting of certain Swiss and foreign finance entities is USD instead of their respective local currencies. This reflects the fact that the cash flows and transactions of these entities are primarily denominated in this currency. For subsidiaries not operating in hyperinflationary economies, the subsidiary’s results, financial position and cash flows that do not have USD as their functional currency are translated into USD using the following exchange rates: • Income, expense and cash flows for each month using the average exchange rate, with the US dollar values for each month being aggregated during the year • Balance sheet using year-end exchange rates • Resulting exchange rate differences are recognized in other comprehensive income For subsidiaries operating in hyperinflationary economies, the impact of the restatement of the non-monetary assets and liabilities with the general price index at the beginning of the period is recorded in retained earnings in equity. The subsequent gains or losses resulting from the restatement of non-monetary assets are recorded in “Other financial income and expense” in the consolidated income statement. |
Non-current assets held for sale or held for distribution to owners | Non-current assets held for sale or held for distribution to owners Non-current assets are accounted for as assets held for sale or as related to discontinued operations when their carrying amount is to be recovered principally through a sale transaction or distribution to owners and a sale or distribution to owners is considered highly probable. They are stated at the lower of carrying amount and fair value less costs to sell and any resulting impairment is recognized. Assets related to discontinued operations and assets of a disposal group held for sale are not depreciated or amortized. The prior year consolidated balance sheet is not restated. If in a subsequent period, the criteria for classification as held for sale are no longer met, the recoverable amount of assets and liabilities are reclassified out of assets held for sale into the respective balance sheet lines and the prior year consolidated balance sheet is not restated. The cumulative amount of depreciation and amortization not recorded since the date of their classification as assets held for sale, and any required adjustments to the recoverable amounts of assets are recognized in the consolidated income statement. |
Acquisition of assets | Acquisition of assets and businesses Assets separately acquired are recorded at cost, which includes the purchase price and any directly attributable costs for bringing the asset into the condition to operate as intended. Expected costs for obligations to dismantle and remove property, plant and equipment and restore the site when it is no longer used are included in their cost. Acquired businesses are accounted for by applying the acquisition method, unless the optional concentration test is applied. The optional concentration test allows for an election on a transaction-by-transaction basis to account for the acquired business as an asset separately acquired when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The acquisition method requires that the assets acquired and liabilities assumed be recorded at their respective fair values on the date the Group obtains control. The excess of the fair value of the total purchase consideration transferred over the fair value of the acquired assets and assumed liabilities is recognized as goodwill. The valuations are based on information available at the acquisition date. Acquisition related costs are expensed as incurred. The application of the acquisition method requires certain estimates and assumptions to be made, especially concerning the fair values of the acquired intangible assets, inventories, property, plant and equipment and the liabilities assumed at the acquisition date, and the useful lives of the intangible assets and property, plant and equipment. Estimates of fair value require the use of valuation techniques. These valuations require the use of management assumptions and estimates, including the value of comparable assets in the market, amount and timing of future cash flows, outcomes and costs of research and development activities, probability of obtaining regulatory approval, long-term sales forecasts, actions of competitors, discount rates and terminal growth rates. The section “—Impairment of goodwill and intangible assets” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. |
Property plant and equipment | Property, plant and equipment Property, plant and equipment is depreciated on a straight-line basis in the consolidated income statement over the estimated useful life of the individual asset. Freehold land is not depreciated. The related depreciation expense is included in the costs of the functions using the asset. Property, plant and equipment is assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections over the useful life. The following table shows the estimated useful life by major categories for property, plant and equipment: Useful life Buildings 20 to 40 years Machinery and other equipment Machinery and equipment 7 to 20 years Furniture and vehicles 5 to 10 years Computer hardware 3 to 7 years Government grants obtained for construction activities, including any related equipment, are deducted from the gross acquisition cost to arrive at the balance sheet carrying value of the related assets. |
Leases and right-of-use assets | Leases and right-of-use assets As lessee, at inception and upon the modification of a contract, the Group assesses whether the contract contains a lease. The Group elected to allocate the consideration in the contract to the lease and non-lease components on the basis of the relative standalone price of each component. The Group recognizes a right-of-use asset and a corresponding lease liability for all arrangements in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low-value leases. For these short-term and low-value leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease. The lease liability is initially measured at the present value of the future lease payments as from the commencement date of the lease to the end of the lease term. The lease term includes the period of any lease extension that management assess as reasonably certain to be exercised by the Group. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, the Novartis incremental borrowing rate for the asset subject to the lease in the relevant market. The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever there is a change to the lease terms or expected payments under the lease, or a modification that is not accounted for as a separate lease. The portion of the lease payments attributable to the repayment of lease liabilities is recognized in cash flows used in financing activities, and the portion attributable to the payment of interest is included in cash flows from operating activities. Right-of-use assets are initially recognized on the balance sheet at cost, which comprises the amount of the initial measurement of the corresponding lease liability, adjusted for any lease payments made at or prior to the commencement date of the lease, any lease incentive received, and any initial direct costs incurred by Novartis, and expected costs for obligations to dismantle and remove right-of-use assets when they are no longer used. Right-of-use assets are depreciated on a straight-line basis from the commencement date of the lease over the shorter of the useful life of the right-of-use asset or the end of the lease term. Right-of-use assets are assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections for the useful life. In arrangements where the Group is the lessor, it determines at lease inception whether the lease is a finance lease or an operating lease. Leases that transfer substantially all of the risk and rewards incidental to ownership of the underlying asset to the counterparty (the lessee) are accounted for as finance leases. Leases that do not transfer substantially all of the risks and rewards of ownership are accounted for as operating leases. Operating lease payments received are recognized on a straight-line basis over the lease term in the consolidated income statement in “Other income.” |
Goodwill | Goodwill and intangible assets Goodwill Goodwill arises on applying the acquisition method on the acquisition of a business and is the excess of the fair value of the consideration transferred to acquire the business over the underlying fair value of the net identified assets acquired. It is allocated to groups of cash-generating units (CGUs), that are expected to benefit from the synergies of the combination, and which are usually represented by the reported segments. Goodwill is tested for impairment annually at the level of these groups of CGUs, and any impairment charges are recorded under “Other expense” in the consolidated income statement. |
Intangible assets available-for-use | Intangible assets available for use Novartis has the following classes of available for use intangible assets: currently marketed products; technologies and other intangible assets (including software). Currently marketed products represent the composite value of acquired intellectual property (IP), patents, distribution rights and product trade names. Technologies represent identified and separable acquired know-how used in the research, development and production processes. Significant investments in internally developed and acquired computer software are capitalized and included in the “Other” category, and amortized once available for use. Intangible assets available for use with a definite useful life are amortized over their estimated useful lives on a straight-line basis and are evaluated for potential impairment whenever facts and circumstances indicate that their carrying value may not be recoverable. The following table shows the estimated useful life by major categories for intangible assets available for use and the line in the consolidated income statement in which the amortization and any potential impairment charge is recognized: Income statement line Currently marketed products 5 to 20 years "Cost of goods sold" Technologies 10 to 20 years "Cost of goods sold" or "Research and development" Other (including software) 3 to 12 years In the relevant functional expense |
Intangible assets not yet available-for-use | Intangible assets not yet available for use Acquired research and development intangible assets that have not yet obtained marketing approval are recognized as in-process research and development (IPR&D). IPR&D is not amortized, but is evaluated for potential impairment on an annual basis or when facts and circumstances warrant. Any impairment charge is recorded in the consolidated income statement under “Research and development.” Once a project included in IPR&D has received marketing approval from a regulatory authority, it is transferred to the “Currently marketed products” category. |
Impairment of goodwill and intangible assets | Impairment of goodwill and intangible assets An asset, a CGU or a grouping of CGUs is considered impaired when its balance sheet carrying amount exceeds its estimated recoverable amount, which is defined as the higher of its fair value less costs of disposal and its value in use. Usually, Novartis applies the fair value less costs of disposal method for its impairment assessment. In most cases, no directly observable market inputs are available to measure the fair value less costs of disposal. Therefore, an estimate is derived indirectly and is based on net present value techniques utilizing post-tax cash flows and discount rates. In the limited cases where the value-in-use method would be applied, net present value techniques would be applied using pre-tax cash flows and discount rates. Fair value less costs of disposal reflects estimates of assumptions that market participants would be expected to use when pricing the asset or CGU, and for this purpose, management considers the range of economic conditions that are expected to exist over the remaining useful life of the asset. These valuations are classified as “Level 3” in the fair value hierarchy. The estimates used in calculating the net present values are highly sensitive and depend on assumptions specific to the nature of the Group’s activities with regard to: • Amount and timing of projected future cash flows • Sales forecasts • Actions of competitors (launch of competing products, marketing initiatives, etc.) • Sales erosion rates after the end of patent or other intellectual property rights protection, and timing of the entry of generic competition • Outcome of research and development activities (compound efficacy, results of clinical trials, etc.) • Amount and timing of projected costs to develop IPR&D into commercially viable products • Profit margins • Probability of obtaining regulatory approval • Future tax rate • Appropriate terminal growth rate • Appropriate discount rate Generally, for intangible assets with a definite useful life, Novartis uses cash flow projections for the whole useful life of these assets. For goodwill, Novartis generally utilizes cash flow projections for a three-year period based on management forecasts, with a terminal value based on cash flow projections usually in line with inflation rates for later periods. Probability-weighted scenarios are typically used. Discount rates used consider the Group’s estimated weighted average cost of capital, adjusted for specific asset, country and currency risks associated with cash flow projections, to approximate the discount rate that market participants would use to value the asset. Due to the above factors, actual cash flows and values could vary significantly from forecasted future cash flows and related values derived using discounting techniques. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less, which are readily convertible to known amounts of cash. Bank overdrafts are presented within current financial debts on the consolidated balance sheet. |
Marketable securities, commodities and non-current financial assets | Marketable securities, commodities and non-current financial assets Commodities, which include gold bullion or coins, are valued at the lower of cost or fair value using current market prices. The changes in fair value below cost are immediately recorded in “Other financial income and expense.” Marketable securities are financial assets held for short-term purposes which are principally traded in liquid markets and are classified within current assets on the consolidated balance sheet. The financial impacts related to these financial assets are recorded in “Other financial income and expense” in the consolidated income statement. Non-current financial assets held for long-term strategic purposes are classified within non-current assets on the consolidated balance sheet. The financial impacts related to these financial assets are recorded in “Other income” and “Other expense” in the consolidated income statement. Marketable securities and non-current financial assets are initially recorded at fair value on their trade date, which is different from the settlement date when the transaction is ultimately effected. Quoted securities are remeasured at each reporting date to fair value based on current market prices. If the market for a financial asset is not active or no market is available, fair values are established using valuation techniques. The majority of non-quoted investments are initially valued at fair value through the purchase price established between a willing buyer and seller. Non-quoted investments are subsequently adjusted based on values derived from discounted cash flow analysis or other pricing models. These investment values are classified as “Level 3” in the fair value hierarchy. The Group classifies and accounts for its marketable securities and non-current financial assets in the following categories: • Debt securities are valued at fair value through other comprehensive income with subsequent recycling into the consolidated income statement, as they meet both the “solely payment of principal and interest” and the business model criteria. Unrealized gains and losses, except exchange gains and losses, are recorded as a fair value adjustment in the consolidated statement of comprehensive income. They are recognized in the consolidated income statement when the debt instrument is sold, at which time the gain is transferred to “Other financial income and expense.” Exchange gains and losses related to debt instruments are immediately recognized in the consolidated income statement in “Other financial income and expense.” • Fund investments and equity securities of the Novartis Venture Fund are valued at fair value through profit and loss (FVPL). Unrealized gains and losses, including exchange gains and losses, are recognized in the consolidated income statement in “Other income” for gains and “Other expense” for losses. • Equity securities held as strategic investments, typically held outside of the Novartis Venture Fund, are generally designated at the date of acquisition as financial assets valued at fair value through other comprehensive income with no subsequent recycling through profit and loss. Unrealized gains and losses, including exchange gains and losses, are recorded as a fair value adjustment in the consolidated statement of comprehensive income. They are reclassified to retained earnings when the equity security is sold. If these equity securities are not designated at the date of acquisition as financial assets valued at fair value through other comprehensive income, they are valued at FVPL, as described above. • Other non-current financial assets, such as loans and long-term receivables from customers, advances and other deposits, are valued at amortized cost, which reflects the time value of money less any allowances for expected credit losses. The Group assesses on a forward-looking basis the expected credit losses associated with its debt securities valued at fair value through other comprehensive income. Impairments on debt securities are recorded in “Other financial income and expense.” For other financial assets valued at amortized cost, impairments, which are based on their expected credit losses, and exchange rate losses are included in “Other expense” in the consolidated income statement. Exchange rate gains and interest income, using the effective interest rate method, are included in “Other income” or “Other financial income” in the consolidated income statement, depending on the nature of the item. |
Description of accounting policy for financial assets [text block] | Derivative financial instruments Derivative financial instruments are initially recognized in the balance sheet at fair value and are remeasured to their current fair value at the end of each subsequent reporting period. The valuation of a forward exchange rate contract is based on the discounted cash flow model, using interest rate curves and forward rates at the reporting date as observable inputs. Options are valued based on a modified Black-Scholes model using volatility and exercise prices as major observable inputs. The Group enters into certain derivative financial instruments for the purpose of hedging to reduce the volatility in the Group’s performance due to the exposure to various business-related risks. The risk mitigation is obtained because the derivative’s value or cash flows are expected, wholly or partly, to offset changes in the value or cash flows of the recognized assets or liabilities. The overall strategy is aiming to mitigate the currency and interest rate risk of positions that are contractually agreed, and to partially mitigate the exposure risk of selected anticipated transactions. Certain derivative financial instruments meet the criteria for hedge accounting treatment. A prerequisite for obtaining this accounting-hedge relationship is extensive documentation on inception and proving on a regular basis that the economic hedge is effective for accounting purposes. Other derivative financial instruments do not meet the criteria to qualify for hedge accounting or are not designated in a hedge relationship. Changes in the fair value of these derivative instruments are recognized immediately in “Other financial income and expense” in the consolidated income statement. In addition, the Group has designated certain long-term debt components as hedges of the translation risk arising on certain net investments in foreign operations. On consolidation, foreign currency differences arising on long-term debt designated as net investment hedges of a foreign operation are recognized in other comprehensive income and accumulated in currency translation effects, to the extent that the hedge is effective. The foreign currency differences arising from hedge ineffectiveness are recognized in the income statement in “Other financial income and expense.” When a hedged net investment is disposed of, the proportionate portion of the cumulative amount recognized in equity in relation to the hedged net investment is transferred to the consolidated income statement as an adjustment to the gain or loss on disposal. |
Inventories | Inventories Inventory is valued at the lower of acquisition or production cost determined on a first-in, first-out basis and net realizable value. This value is used for the “Cost of goods sold” in the consolidated income statement. Unsaleable inventory is fully written off in the consolidated income statement under “Cost of goods sold.” |
Trade receivables | Trade receivables Trade receivables are initially recognized at their invoiced amounts, including any related sales taxes less adjustments for estimated revenue deductions such as rebates, chargebacks and cash discounts. Provisions for doubtful trade receivables are established using a forward-looking expected credit loss model (ECL), which includes possible default events on the trade receivables over the entire holding period of the trade receivable. These provisions represent the difference between the trade receivable’s carrying amount in the consolidated balance sheet and the estimated collectible amount. Charges for doubtful trade receivables are recorded as marketing and selling costs recognized in the consolidated income statement within “Selling, general and administration” expenses. |
Legal and environmental liabilities | Legal and environmental liabilities Novartis and its subsidiaries are subject to contingencies arising in the ordinary course of business, such as patent litigation, environmental remediation liabilities and other product-related and commercial litigation, and governmental investigations and proceedings. A provision is recorded when there is a probable outflow of resources for which a reliable estimate can be made of the outcome of the legal or other disputes against the subsidiary. |
Contingent consideration | Contingent consideration In the acquisition or divestment of a business, it is necessary to recognize contingent future amounts due to previous owners, representing contractually defined potential amounts as a liability or an asset. Usually for Novartis, these are linked to milestone or royalty payments related to certain assets and are recognized as a financial liability or financial asset at fair value, which is then remeasured at each subsequent reporting date. These estimations typically depend on factors such as technical milestones or market performance, and are adjusted for the probability of their likelihood of payment, and are appropriately discounted to reflect the impact of time. Changes in the fair value of contingent consideration liabilities in subsequent periods are recognized in the consolidated income statement in “Cost of goods sold” for currently marketed products and in “Research and development” for IPR&D. Changes in contingent consideration assets are recognized in “Other income” or “Other expense,” depending on their nature. The effect of unwinding the discount over time is recognized for contingent consideration liabilities in “Interest expense” and for contingent consideration assets as interest income recognized in the consolidated income statement within “Other financial income and expense.” |
Defined benefit pension plans and other post retirement benefits | Defined benefit pension plans and other post-employment benefits The liability in respect of defined benefit pension plans and other post-employment benefits is the defined benefit obligation calculated annually by independent actuaries using the projected unit credit method. The current service cost for such post-employment benefit plans is included in the personnel expenses of the various functions in which employees are employed, while the net interest on the net defined benefit liability or asset is recognized as “Other expense” or “Other income.” |
Treasury Shares | Treasury shares Treasury shares are initially recorded at fair value on their trade date, which is different from the settlement date, when the transaction is ultimately effected. Treasury shares are deducted from consolidated equity at their nominal value of CHF 0.50 per share. Differences between the nominal amount and the transaction price on purchases or sales of treasury shares with third parties, or the value of services received for the shares allocated to employees as part of share-based compensation arrangements, are recorded in “Retained earnings” in the consolidated statement of changes in equity. |
Revenue recognition | Revenue recognition Revenue on the sale of Novartis Group products and services, which is recorded as “Net sales to third parties” in the consolidated income statement, is recognized when a contractual promise to a customer (performance obligation) has been fulfilled by transferring control over the promised goods and services to the customer, substantially all of which is at the point in time of shipment to or receipt of the products by the customer or when the services are performed. If contracts contain customer acceptance provisions, revenue is recognized upon the satisfaction of the acceptance criteria. If a contract contains more than one performance obligation, the consideration is allocated based on the standalone selling price of each performance obligation. The amount of revenue recognized is based on the consideration Novartis expects to receive in exchange for its goods and services, when it is highly probable that a significant reversal will not occur. The consideration Novartis receives in exchange for its goods or services may be fixed or variable. Variable consideration is recognized when it is highly probable that a significant reversal will not occur. The most common elements of variable consideration are listed below. • Rebates and discounts granted to wholesalers, retailers, government agencies (including US Medicaid and US Federal Medicare programs), government supported healthcare systems, private health systems, pharmacy benefit managers, managed healthcare organizations, purchasing organizations and other direct and indirect customers, as well as chargebacks are provisioned and recorded as revenue deductions at the time the related revenues are recorded, or when the incentives are offered. These rebates and discounts, applied using provision rates, are estimated based on the terms and conditions in the individual states, plans and customer agreements, historical experience, product sales and growth rate, population growth, product pricing including inflation impacts, the mix of contracts and products, the level of inventory in the distribution channel, regulations, contracts, channels and payers, as appropriate to the individual rebate and discount arrangements. • Refunds granted to healthcare providers under innovative pay-for-performance agreements (i.e. outcome based arrangements) are provisioned and recorded as a revenue deduction at the time the related sales are recorded. They are calculated on the basis of historical experience and clinical data available for the product, as well as specific terms of the individual agreements. In cases where historical experience and clinical data are not sufficient for a reliable estimation of the outcome, revenue recognition is deferred until the uncertainty is resolved, until such history is available or the period when the refund right has expired. The provisions for revenue deductions under the innovative pay-for-performance agreements are adjusted periodically based on established processes and actual experience, including the products actual outcomes achieved compared with the anticipated predefined targets. • Cash discounts are offered to customers to encourage prompt payment and are provisioned and recorded as revenue deductions at the time the related sales are recorded. • Shelf stock adjustments are generally granted to customers, primarily of the Sandoz Division, to cover the inventory held by them at the time a price decline becomes effective. Revenue deduction provisions for shelf stock adjustments are recorded when the price decline is anticipated, based on the impact of the price decline on the customer’s estimated inventory levels. • Sales returns provisions are recognized and recorded as revenue deductions when there is historical experience of Novartis agreeing to customer returns and Novartis can reasonably estimate expected future returns. In doing so, the estimated rate of return is applied, determined on the basis of historical experience of customer returns and considering any other relevant factors. This is applied to the amounts invoiced, also considering the amount of returned products to be destroyed versus products that can be placed back in inventory for resale. Where shipments are made on a resale or return basis, without sufficient historical experience for estimating sales returns, revenue is only recorded when there is evidence of consumption or when the right of return has expired. Net sales to third parties and provisions for revenue deductions are adjusted periodically to reflect experience and to reflect actual amounts as rebates, refunds, discounts and returns are processed. There is often a time lag between recording of revenue deductions and the final accounting for them. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these revenue deductions. “Other revenue” includes income from profit-sharing arrangements with our collaboration partners, and royalty and milestone income from the out-licensing of intellectual property when Novartis retains an interest in the intellectual property through a license. Royalty income earned from a license is recognized when the underlying sales have occurred. Milestone income is recognized at the point in time when it is highly probable that the relevant milestone event criteria are met, and the risk of reversal of revenue recognition is remote. “Other revenue” also includes revenue from activities such as manufacturing or other services rendered, to the extent such revenue is not recorded under net sales to third parties, and is recognized when control transfers to the third party and our performance obligations are satisfied. |
Research and development | Research and development Internal research and development (R&D) costs are fully charged to “Research and development” in the consolidated income statement in the period in which they are incurred. The Group considers that regulatory and other uncertainties inherent in the development of new products preclude the capitalization of internal development expenses as an intangible asset until marketing approval from a regulatory authority is obtained in a major market such as the United States, the European Union, Switzerland or Japan. Payments made to third parties, such as contract research and development organizations in compensation for subcontracted R&D, that are deemed not to transfer intellectual property to Novartis are expensed as internal R&D expenses in the period in which they are incurred. Such payments are only capitalized if they meet the criteria for recognition of an internally generated intangible asset, usually when marketing approval has been received from a regulatory authority in a major market. Payments made to third parties to in-license or acquire intellectual property rights, compounds and products, including initial upfront and subsequent milestone payments, are capitalized, as are payments for other assets, such as technologies to be used in R&D activities. If additional payments are made to the originator company to continue performing R&D activities, an evaluation is made as to the nature of the payments. Such additional payments will be expensed if they are deemed to be compensation for subcontracted R&D services not resulting in an additional transfer of intellectual property rights to Novartis. Such additional payments will be capitalized if they are deemed to be compensation for the transfer to Novartis of additional intellectual property developed at the risk of the originator company. Subsequent internal R&D costs in relation to IPR&D and other assets are expensed, since the technical feasibility of the internal R&D activity can only be demonstrated by the receipt of marketing approval for a related product from a regulatory authority in a major market. Costs for post-approval studies performed to support the continued registration of a marketed product are recognized as marketing expenses. Costs for activities that are required by regulatory authorities as a condition for obtaining marketing approval in a major market are capitalized and recognized as currently marketed products. Inventory produced ahead of regulatory approval is fully provisioned, and the charge is included in “Other expense” in the consolidated income statement, as its ultimate use cannot be assured. If this inventory can subsequently be sold, the provision is released to “Other income” in the consolidated income statement, either on approval by the appropriate regulatory authority or, exceptionally in Europe, on recommendation by the Committee for Medicinal Products for Human Use (CHMP), if approval is virtually certain. |
Share based compensation | Share-based compensation Vested Novartis shares and American Depositary Receipts (ADRs) that are granted as compensation are valued at their market value on the grant date and are immediately expensed in the consolidated income statement. The fair values of unvested restricted shares (RSs), restricted share units (RSUs) and performance share units (PSUs) in Novartis shares and ADRs granted to employees as compensation are recognized as an expense over the related vesting period. The expense recorded in the consolidated income statement is included in the personnel expenses of the various functions in which the employees are employed. Unvested restricted shares, restricted ADRs and RSUs are only conditional on the provision of services by the plan participant during the vesting period. They are valued at fair value on the grant date. As RSUs do not entitle the holder to dividends, the fair value is based on the Novartis share price at the grant date adjusted for the net present value of the dividends expected to be paid during the holding period. The fair value of these grants, after making adjustments for assumptions related to forfeiture during the vesting period, is expensed on a straight-line basis over the respective vesting period. PSUs are subject to the achievement of certain performance criteria during the vesting period and require plan participants to provide services during this period. The following paragraphs provide an overview of the accounting policies for the share-based compensation plan that grant PSUs. For PSUs that are subject to performance criteria based on Novartis internal performance metrics and that are conditional on the provision of service by plan participants during the vesting period, the expense is recognized on a straight-line basis over the vesting period, and is determined based on assumptions concerning the expected performance against the internal performance metrics throughout the vesting period. The assumptions are based on the Group’s targets for those performance metrics, and the expected forfeitures due to plan participants not meeting their service conditions. The assumptions are periodically adjusted over the vesting period. Any change in estimates for past services is recorded immediately as an expense or income in the consolidated income statement, and amounts for the remaining vesting period are expensed on a straight-line basis. As a result, at the end of the vesting period, the charge during the entire vesting period represents the amount that will finally vest. The number of equity instruments that finally vest is determined at the vesting date. For PSUs that are subject to performance criteria based on variables that can be observed in the market, which for Novartis plans is the Novartis total shareholder return (TSR) relative to a specific peer group of companies over the vesting period, and that are conditional on the provision of services by the plan participants during the vesting period, the expense is recognized on a straight-line basis over the vesting period, and is determined based on the total fair value of the grant over the vesting period. IFRS requires that these variables that can be observed in the market are taken into account in determining the fair value of the PSUs at the grant date. Novartis determined the fair value of these PSUs at the date of grant using a Monte Carlo simulation model. Adjustments to the number of equity instruments granted are only made if a plan participant does not fulfill the service conditions. For PSUs granted under plans that are subject to both performance criteria based on Novartis internal performance metrics and Novartis TSR relative to a specific peer group of companies over the vesting period and that are conditional on the provision of service by plan participants during the vesting period, the expense is recognized on a straight-line basis over the vesting period, and is determined based on a bifurcation into the components based on the performance criteria related to Novartis internal performance metrics and TSR, as described in the paragraphs above. Measuring the fair values of PSUs granted that include TSR performance criteria requires use of estimates. The Monte Carlo simulation used to determine the fair value of the PSUs TSR performance criteria requires the probability of factors related to uncertain future events; the term of the award; the grant price of underlying shares or ADRs; expected volatilities; the expected correlation matrix of the underlying equity instruments with those of the peer group of companies; and the risk-free interest rate as input parameters. If a plan participant leaves Novartis for reasons other than retirement, disability or death, then unvested restricted shares, restricted ADRs, RSUs and PSUs are forfeited, unless determined otherwise by the provision of the plan rules or by the Compensation Committee of the Novartis Board of Directors, for example, in connection with a reorganization or divestment. |
Government grants | Government grants Grants from governments or similar organizations are recognized at their fair value when there is reasonable assurance that the grant will be received and the Group will comply with all attached conditions. Government grants received to compensate costs are deferred and recognized in the consolidated income statement over the period necessary to match them against the related costs that they are intended to compensate. The accounting policy for property, plant and equipment describes the treatment of any related grants. |
Restructuring charges | Restructuring charges Restructuring provisions are recognized for the direct expenditure arising from the restructuring, where the plans are sufficiently detailed and where appropriate communication to those affected has been made. Charges to increase restructuring provisions are included in “Other expense” in the consolidated income statements. |
Healthcare contributions | Healthcare contributions Healthcare cost contribution levies and fees under governmental programs that require the Group to contribute to a country’s healthcare costs, other than programs described in “Revenue recognition” in this Note 1, are recognized in “Other expense” in the consolidated income statement. Provisions for healthcare cost contributions are adjusted to the actual amounts levied. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these healthcare cost contributions. |
Taxes | Income taxes Income taxes comprise current income taxes and deferred income taxes and are recognized in the same periods as the revenues and expenses to which they relate. Income taxes include interest and penalties incurred during the period, insofar as they are considered an income tax. Income taxes related to items recognized directly to other comprehensive income or to equity are recognized together with the corresponding item, to which the income tax is attributable, directly in other comprehensive income or in equity. Deferred income taxes are determined using the comprehensive liability method and are calculated on the temporary differences that arise between the tax base of an asset or liability and its carrying value for financial reporting purposes, except for those temporary differences related to investments in subsidiaries and associated companies, where the timing of their reversal can be controlled and it is probable that the difference will not reverse in the foreseeable future. Since the retained earnings are reinvested, withholding or other taxes on eventual distribution of a subsidiary’s retained earnings are only recognized when a dividend is declared or has been planned. Furthermore, deferred income taxes are recognized for the net tax effects of net operating loss carryforwards and tax credits. The carrying amount of deferred tax assets is reduced to the extent that it is not probable that sufficient taxable profits will be available to enable all or part of the asset to be recovered. In evaluating our ability to recover our deferred tax assets in the jurisdiction from which they arise, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies, and results of recent operations. The estimated amounts for current and deferred tax assets or liabilities, including amounts related to any uncertain tax positions, are based on applicable tax law and regulations in the various tax jurisdictions, in which the Group operates, which are subject to interpretations based on currently known facts and circumstances. Tax returns are based on an interpretation of tax laws and regulations, and reflect estimates based on these judgments and interpretations. The tax returns are subject to examination by the competent taxing authorities, which may result in an assessment being made requiring payments of additional tax, interest or penalties. The calculation of income tax assets and liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in a multitude of jurisdictions across our global operations. As a result, inherent uncertainties exist in the estimates of the tax positions. Tax liabilities for uncertain tax provisions are recognized on the consolidated balance sheets within current income tax liabilities. |
Impact of adopting significant new IFRS standards | Impact of new IFRS standards, amendments and interpretations in 2022 There were no new IFRS standards adopted by the Group in 2022. In addition, new IFRS amendments or interpretations that became effective in 2022 did not have a material impact to the Group’s consolidated financial statements. Based on the Group’s assessment, there are no IFRS standards, amendments or interpretations not yet effective in 2022 that would be expected to have a material impact on the Group’s consolidated financial statements. Impact of adopting significant new IFRS standard in 2021 The following new IFRS standard has been adopted by Novartis from January 1, 2021: Interest Rate Benchmark Reform – Phase 2, Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (Interest Benchmark Reform Amendments) Interest Benchmark Reform Amendments became effective from January 1, 2021. These amendments address issues that might affect financial reporting when an existing interest rate benchmark (i.e. Interbank offered rate – IBOR) is replaced with an alternative benchmark interest rate. The effects of interest rate benchmark reform on the Group’s financial instruments and risk management strategies did not have a material impact on the Group’s consolidated financial statements. Impact of adopting significant new IFRS standard in 2020 The following new IFRS standard has been adopted by Novartis from January 1, 2020: IFRS 3 Business Combinations amendments The IASB issued amendments to IFRS 3 Business Combinations that revised the definition of a business, which assist entities with the evaluation of when an asset or group of assets acquired should be considered a business. This amended standard has been applied to transactions entered into on or after January 1, 2020. The amended standard allows an entity to apply an optional concentration test, on a transaction-by-transaction basis, to evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If this optional concentration test is met, the set of activities and assets is determined not to be a business. The adoption of this amended standard on January 1, 2020, did not have a significant impact on our consolidated financial statements and is not expected to have a significant impact in future periods. However, this will depend on the facts and circumstances of future transactions and if the Group decides to apply the optional concentration test in the assessment of whether an acquired set of activities and assets is or is not a business. |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Significant Accounting Policies [abstract] | |
Respective Useful Lives of property, plant and equipment | Useful life Buildings 20 to 40 years Machinery and other equipment Machinery and equipment 7 to 20 years Furniture and vehicles 5 to 10 years Computer hardware 3 to 7 years |
Respective Useful Lives of Available-for-Use Intangible Assets | Income statement line Currently marketed products 5 to 20 years "Cost of goods sold" Technologies 10 to 20 years "Cost of goods sold" or "Research and development" Other (including software) 3 to 12 years In the relevant functional expense |
Segmentation of key figures (Ta
Segmentation of key figures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Statement [line items] | |
Segmentation - Consolidated income statements | Segmentation – consolidated income statements Innovative Medicines Sandoz Corporate (including eliminations) 1 Group (USD millions) 2022 2021 2022 2021 2022 2021 2022 2021 Net sales to third parties 41 296 41 995 9 249 9 631 50 545 51 626 Sales to other segments 825 795 205 180 -1 030 -975 Net sales 42 121 42 790 9 454 9 811 -1 030 -975 50 545 51 626 Other revenues 1 249 1 179 28 61 6 11 1 283 1 251 Cost of goods sold -11 569 -11 751 -4 978 -5 147 1 061 1 031 -15 486 -15 867 Gross profit 31 801 32 218 4 504 4 725 37 67 36 342 37 010 Selling, general and administration -11 679 -12 306 -2 062 -2 062 -512 -518 -14 253 -14 886 Research and development -9 172 -8 641 -824 -899 -9 996 -9 540 Other income 531 1 149 103 233 171 470 805 1 852 Other expense -2 695 -1 732 -273 -397 -733 -618 -3 701 -2 747 Operating income 8 786 10 688 1 448 1 600 -1 037 -599 9 197 11 689 (Loss)/income from associated companies -2 5 2 2 -9 15 332 -9 15 339 Interest expense -837 -811 Other financial income and expense 20 -80 Income before taxes 8 371 26 137 Income taxes -1 416 -2 119 Net income 6 955 24 018 Attributable to: Shareholders of Novartis AG 6 955 24 021 Non-controlling interests 0 -3 Included in net income are: Interest income 379 71 Depreciation of property, plant and equipment -837 -859 -204 -210 -122 -139 -1 163 -1 208 Depreciation of right-of-use assets -252 -265 -33 -39 -15 -14 -300 -318 Amortization of intangible assets -3 728 -3 638 -222 -238 -32 -27 -3 982 -3 903 Impairment charges on property, plant and equipment, net -407 -271 -9 -1 -407 -281 Impairment of right-of-use assets -3 -3 Impairment charges on intangible assets, net -1 299 -367 -25 -28 -2 -8 -1 326 -403 Impairment charges and fair value changes on financial assets, net -134 43 -126 -5 -260 38 Additions to restructuring provisions -1 069 -240 -40 -62 -259 -26 -1 368 -328 Equity-based compensation of Novartis equity plans -706 -721 -62 -65 -280 -193 -1 048 -979 1 Innovative Medicines Sandoz Corporate (including eliminations) 1 Group (USD millions) 2021 2020 2021 2020 2021 2020 2021 2020 Net sales to third parties 41 995 39 013 9 631 9 646 51 626 48 659 Sales to other segments 795 792 180 189 -975 -981 Net sales 42 790 39 805 9 811 9 835 -975 -981 51 626 48 659 Other revenues 1 179 1 018 61 53 11 168 1 251 1 239 Cost of goods sold -11 751 -10 927 -5 147 -5 252 1 031 1 058 -15 867 -15 121 Gross profit 32 218 29 896 4 725 4 636 67 245 37 010 34 777 Selling, general and administration -12 306 -11 657 -2 062 -2 076 -518 -464 -14 886 -14 197 Research and development -8 641 -8 118 -899 -862 -9 540 -8 980 Other income 1 149 922 233 176 470 644 1 852 1 742 Other expense -1 732 -1 871 -397 -831 -618 -488 -2 747 -3 190 Operating income 10 688 9 172 1 600 1 043 -599 -63 11 689 10 152 Income from associated companies 5 1 2 2 15 332 670 15 339 673 Interest expense -811 -869 Other financial income and expense -80 -78 Income before taxes 26 137 9 878 Income taxes -2 119 -1 807 Net income 24 018 8 071 Attributable to: Shareholders of Novartis AG 24 021 8 072 Non-controlling interests -3 -1 Included in net income are: Interest income 71 91 Depreciation of property, plant and equipment -859 -912 -210 -282 -139 -124 -1 208 -1 318 Depreciation of right-of-use assets -265 -273 -39 -41 -14 -16 -318 -330 Amortization of intangible assets -3 638 -3 080 -238 -370 -27 -12 -3 903 -3 462 Impairment charges on property, plant and equipment, net -271 -324 -9 -116 -1 -281 -440 Impairment charges on intangible assets, net -367 -768 -28 -141 -8 -5 -403 -914 Impairment charges and fair value changes on financial assets, net 43 153 -5 182 38 335 Additions to restructuring provisions -240 -217 -62 -98 -26 -39 -328 -354 Equity-based compensation of Novartis equity plans -721 -714 -65 -64 -193 -180 -979 -958 1 |
Segmentation - Consolidated balance sheets | Segmentation – consolidated balance sheets Innovative Medicines Sandoz Corporate (including eliminations) 1 Group (USD millions) 2022 2021 2022 2021 2022 2021 2022 2021 Total assets 75 510 79 220 16 078 16 192 25 865 36 383 117 453 131 795 Total liabilities -16 966 -15 929 -3 710 -3 632 -37 354 -44 412 -58 030 -63 973 Total equity 59 423 67 822 Net debt 2 7 245 868 7 245 868 Net operating assets 58 544 63 291 12 368 12 560 -4 244 -7 161 66 668 68 690 Included in assets and liabilities are: Total property, plant and equipment 8 488 9 168 1 861 1 901 415 476 10 764 11 545 Additions to property, plant and equipment 3 842 991 292 349 85 90 1 219 1 430 Total right-of-use assets 1 233 1 349 90 104 108 108 1 431 1 561 Additions to right-of-use assets 3 196 222 31 26 20 73 247 321 Total goodwill and intangible assets 51 357 53 919 9 230 9 603 358 255 60 945 63 777 Additions to goodwill and intangible assets 3 1 791 1 491 163 102 139 143 2 093 1 736 Total investment in associated companies 107 170 9 7 27 28 143 205 Additions to investment in associated companies 25 24 13 19 38 43 Cash and cash equivalents, marketable securities, commodities, time deposits and derivative financial instruments 18 930 28 329 18 930 28 329 Financial debts and derivative financial instruments 26 175 29 197 26 175 29 197 Current income tax liabilities and deferred tax liabilities 5 219 5 485 5 219 5 485 1 2 3 |
Net sales and total of selected non-current assets, by countries and regions | Net sales to third parties 1 Total of selected non-current assets 2 (USD millions) 2022 % 2021 % 2020 % 2022 % 2021 % Country Switzerland 970 2 873 2 800 2 23 708 32 25 770 33 United States 17 653 35 16 818 33 16 484 34 35 353 48 37 054 48 France 2 257 4 2 522 5 2 442 5 3 188 4 3 615 5 Germany 4 278 8 4 870 9 4 518 9 2 229 3 2 378 3 China 3 128 6 3 052 6 2 573 5 599 1 703 1 Japan 2 205 4 2 683 5 2 804 6 165 217 Other 20 054 41 20 808 40 19 038 39 8 241 12 7 351 10 Group 50 545 100 51 626 100 48 659 100 73 483 100 77 088 100 Region Europe 18 467 37 20 197 39 18 715 38 35 896 49 37 525 49 Americas 21 536 42 20 463 40 19 725 41 35 806 49 37 522 49 Asia/Africa/Australasia 10 542 21 10 966 21 10 219 21 1 781 2 2 041 2 Group 50 545 100 51 626 100 48 659 100 73 483 100 77 088 100 1 2 |
Net sales by region | Segmentation – net sales to third parties Net sales to third parties by region 1 Change Change Innovative Medicines Europe 13 554 14 919 -9 13 484 11 US 15 899 14 999 6 14 342 5 Asia/Africa/Australasia 8 929 9 304 -4 8 718 7 Canada and Latin America 2 914 2 773 5 2 469 12 Total 41 296 41 995 -2 39 013 8 Of which in Established Markets 30 548 31 459 -3 29 643 6 Of which in Emerging Growth Markets 10 748 10 536 2 9 370 12 Sandoz Europe 4 913 5 278 -7 5 231 1 US 1 754 1 819 -4 2 142 -15 Asia/Africa/Australasia 1 613 1 662 -3 1 501 11 Canada and Latin America 969 872 11 772 13 Total 9 249 9 631 -4 9 646 0 Of which in Established Markets 6 460 6 855 -6 7 089 -3 Of which in Emerging Growth Markets 2 789 2 776 0 2 557 9 Group Europe 18 467 20 197 -9 18 715 8 US 17 653 16 818 5 16 484 2 Asia/Africa/Australasia 10 542 10 966 -4 10 219 7 Canada and Latin America 3 883 3 645 7 3 241 12 Total 50 545 51 626 -2 48 659 6 Of which in Established Markets 37 008 38 314 -3 36 732 4 Of which in Emerging Growth Markets 13 537 13 312 2 11 927 12 1 |
Other revenue | Segmentation – other revenue Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 Profit-sharing income 921 873 835 921 873 835 Royalty income 28 74 107 18 24 25 6 11 168 52 109 300 Milestone income 145 127 39 3 28 11 148 155 50 Other 1 155 105 37 7 9 17 162 114 54 Total other revenues 1 249 1 179 1 018 28 61 53 6 11 168 1 283 1 251 1 239 1 |
Innovative Medicines | |
Statement [line items] | |
Net sales | Innovative Medicines Division net sales to third parties by core therapeutic area; other promoted brands; and established brands 1 Change 1 Change Cardiovascular Entresto 4 644 3 548 31 2 497 42 Leqvio 112 12 nm nm Total Cardiovascular 4 756 3 560 34 2 497 43 Immunology Cosentyx 4 788 4 718 1 3 995 18 Xolair 2 1 365 1 428 -4 1 251 14 Ilaris 1 133 1 059 7 873 21 Other 1 nm nm Total Immunology 7 287 7 205 1 6 119 18 Neuroscience Gilenya 2 013 2 787 -28 3 003 -7 Zolgensma 1 370 1 351 1 920 47 Kesimpta 1 092 372 194 15 nm Mayzent 357 281 27 170 65 Aimovig 218 215 1 164 31 Other 1 1 0 nm Total Neuroscience 5 051 5 007 1 4 272 17 Solid Tumors Tafinlar Mekinist 1 770 1 693 5 1 542 10 Kisqali 1 231 937 31 687 36 Votrient 474 577 -18 635 -9 Lutathera 471 475 -1 445 7 Piqray 373 329 13 320 3 Pluvicto 271 nm 2 nm Tabrecta 133 90 48 35 157 Total Solid Tumors 4 723 4 101 15 3 666 12 Hematology Promacta/Revolade 2 088 2 016 4 1 738 16 Tasigna 1 923 2 060 -7 1 958 5 Jakavi 1 561 1 595 -2 1 339 19 Kymriah 536 587 -9 474 24 Adakveo 194 164 18 105 56 Scemblix 149 7 nm nm Other 1 1 0 3 -67 Total Hematology 6 452 6 430 0 5 617 14 1 Change 1 Change Other Promoted Brands Lucentis 1 874 2 160 -13 1 933 12 Xiidra 487 468 4 376 24 Ultibro 479 584 -18 623 -6 Beovu 203 186 9 190 -2 Other respiratory 84 53 58 26 104 Total Other Promoted Brands 3 127 3 451 -9 3 148 10 Total Promoted Brands 31 396 29 754 6 25 319 18 Established Brands Sandostatin 1 238 1 413 -12 1 439 -2 Galvus 859 1 092 -21 1 199 -9 Gleevec/Glivec 745 1 024 -27 1 188 -14 Exforge 743 901 -18 980 -8 Diovan 652 773 -16 1 003 -23 Afinitor/Votubia 512 938 -45 1 083 -13 Voltaren/Cataflam 334 373 -10 360 4 Zortress/Certican 329 431 -24 452 -5 Exjade/Jadenu 323 563 -43 653 -14 Neoral/Sandimmun(e) 310 368 -16 393 -6 Contract manufacturing 214 108 98 nm Other 3 641 4 257 -14 4 944 -14 Total Established Brands 9 900 12 241 -19 13 694 -11 Total division net sales to third parties 41 296 41 995 -2 39 013 8 1 2 Xolair |
Net sales of Top 20 products | Net sales to third parties of the top 20 Innovative Medicines Division brands in 2022 Brand classification by Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA) 2 770 2 018 4 788 Entresto Cardiovascular Chronic heart failure, hypertension 2 354 2 290 4 644 Promacta/Revolade Hematology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 1 083 1 005 2 088 Gilenya Neuroscience Relapsing multiple sclerosis (RMS) 1 153 860 2 013 Tasigna Hematology Chronic myeloid leukemia (CML) 877 1 046 1 923 Lucentis Other Promoted Brands Age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO) 1 874 1 874 Tafinlar Mekinist Solid Tumors BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC), tumor agnostic with BRAF mutation indication 678 1 092 1 770 Jakavi Hematology Myelofibrosis (MF), polycytomia vera (PV), graft-versus-host disease (GvHD) 1 561 1 561 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 434 936 1 370 Xolair 1 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU), nasal polyps 1 365 1 365 Sandostatin Established Brands Carcinoid tumors, acromegaly 800 438 1 238 Kisqali Solid Tumors HR+/HER2- metastatic breast cancer 472 759 1 231 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD, gout) 570 563 1 133 Kesimpta Neuroscience Relapsing-remitting multiple sclerosis (RRMS) 921 171 1 092 Galvus Established Brands Type 2 diabetes 859 859 Gleevec/Glivec Established Brands Chronic myeloid leukemia (CML), gastrointestinal stromal tumors (GIST) 205 540 745 Exforge Established Brands Hypertension 14 729 743 Diovan Established Brands Hypertension 55 597 652 Kymriah Hematology r/r pediatric and young adults acute lymphoblastic leukemia (ALL), diffuse large B-cell lymphoma (DLBCL), follicular lymphoma (FL) 196 340 536 Afinitor/Votubia Established Brands Breast cancer/ tuberous sclerosis complex (TSC) 171 341 512 Top 20 brands total 12 753 19 384 32 137 Rest of portfolio 3 146 6 013 9 159 Total division net sales to third parties 15 899 25 397 41 296 1 Xolair Net sales to third parties of the top 20 Innovative Medicines Division brands in 2021 Brand classification by 1 Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA) 2 883 1 835 4 718 Entresto Cardiovascular Chronic heart failure 1 712 1 836 3 548 Gilenya Neuroscience Relapsing multiple sclerosis (RMS) 1 427 1 360 2 787 Lucentis Other Promoted Brands Age-related macular degeneration (AMD) 2 160 2 160 Tasigna Hematology Chronic myeloid leukemia (CML) 882 1 178 2 060 Promacta/Revolade Hematology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 947 1 069 2 016 Tafinlar Mekinist Solid Tumors BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC) 606 1 087 1 693 Jakavi Hematology Myelofibrosis (MF), polycythemia vera (PV) 1 595 1 595 Xolair 2 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU), nasal polyps 1 428 1 428 Sandostatin Established Brands Carcinoid tumors, acromegaly 843 570 1 413 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 469 882 1 351 Galvus Established Brands Type 2 diabetes 1 092 1 092 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD, gout) 501 558 1 059 Gleevec/Glivec Established Brands Chronic myeloid leukemia (CML), gastrointestinal stromal tumors (GIST) 263 761 1 024 Afinitor/Votubia Established Brands Breast cancer/ tuberous sclerosis complex (TSC) 521 417 938 Kisqali Solid Tumors HR+/HER2- metastatic breast cancer 339 598 937 Exforge Established Brands Hypertension 14 887 901 Diovan Established Brands Hypertension 51 722 773 Kymriah Hematology r/r pediatric and young adults acute lymphoblastic leukemia (ALL), diffuse large B-cell lymphoma (DLBCL) 230 357 587 Ultibro Other Promoted Brands Cronic obstructive pulmonary disease (COPD) 584 584 Top 20 products total 11 688 20 976 32 664 Rest of portfolio 3 311 6 020 9 331 Total division net sales to third parties 14 999 26 996 41 995 1 2 Xolair Net sales to third parties of the top 20 Innovative Medicines Division brands in 2020 Brand classification by 1 Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA) 2 516 1 479 3 995 Gilenya Neuroscience Relapsing multiple sclerosis (RMS) 1 562 1 441 3 003 Entresto Cardiovascular Chronic heart failure 1 277 1 220 2 497 Tasigna Hematology Chronic myeloid leukemia (CML) 859 1 099 1 958 Lucentis Other Promoted Brands Age-related macular degeneration (AMD) 1 933 1 933 Promacta/Revolade Hematology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 833 905 1 738 Tafinlar Mekinist Solid Tumors BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC) 569 973 1 542 Sandostatin Established Brands Carcinoid tumors, acromegaly 837 602 1 439 Jakavi Hematology Myelofibrosis (MF), polycythemia vera (PV) 1 339 1 339 Xolair 2 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU) 1 251 1 251 Galvus Established Brands Type 2 diabetes 1 199 1 199 Gleevec/Glivec Established Brands Chronic myeloid leukemia (CML), gastrointestinal stromal tumors (GIST) 315 873 1 188 Afinitor/Votubia Established Brands Breast cancer/ tuberous sclerosis complex (TSC) 644 439 1 083 Diovan Established Brands Hypertension 124 879 1 003 Exforge Established Brands Hypertension 16 964 980 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 459 461 920 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD gout) 400 473 873 Kisqali Solid Tumors HR+/HER2- metastatic breast cancer 318 369 687 Exjade/Jadenu Established Brands Chronic iron overload 138 515 653 Votrient Solid Tumors Renal cell carcinoma (RCC) 259 376 635 Top 20 products total 11 126 18 790 29 916 Rest of portfolio 3 216 5 881 9 097 Total division net sales to third parties 14 342 24 671 39 013 1 2 Xolair |
Sandoz [member] | |
Statement [line items] | |
Net sales | Sandoz Division net sales to third parties by business franchise Change Change Retail Generics 1 6 776 7 092 -4 7 244 -2 Biopharmaceuticals 2 093 2 116 -1 1 928 10 Anti-Infectives 1 380 423 -10 474 -11 Total division net sales to third parties 9 249 9 631 -4 9 646 0 1 Sandoz total anti-infectives net sales to third parties amounted to USD 1.2 billion (2021: USD 1.1 billion; 2020: USD 1.2 billion), of which USD 777 million (2021: USD 707 million; 2020: USD 694 million) is sold through the Retail Generics business franchise and USD 380 million (2021: USD 423 million; 2020: USD 474 million) is sold to other third-party companies through the Anti-Infectives business franchise. |
Associated companies (Tables)
Associated companies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Statement [line items] | |
Schedule disclosing information related to associates | Net income statement effect Other comprehensive income effect 1 Total comprehensive income effect (USD millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Roche Holding AG, Switzerland 15 341 677 46 -56 15 387 621 Others -9 -2 -4 -9 -2 -4 Associated companies -9 15 339 673 46 -56 -9 15 385 617 1 In 2021, Novartis share of other comprehensive income recognized by associated companies, net of taxes of USD 3 million was recycled into the consolidated income statement as a result of the divestment of the investment in Roche Holding AG. No Novartis share of other comprehensive income recognized by associated companies was recycled to the consolidated income statement in 2022 and 2020. |
Roche Holding AG, Switzerland | |
Statement [line items] | |
Schedule disclosing information related to associates, net income effect | (USD millions) 2021 2020 Novartis share of Roche's estimated current-year consolidated net income 815 913 Prior-year adjustment 40 -64 Amortization of fair value adjustments relating to intangible assets, net of taxes of 2021: USD 10 million; 2020: USD 26 million -70 -172 Gain on divestment of the investment in Roche 1 14 556 Net income effect 15 341 677 1 The gain on divestment of the investment in Roche includes the recycling of currency translation effects (see Note 8.1) and other comprehensive income effects totaling USD 3.2 billion. |
Interest expense and other fi_2
Interest expense and other financial income and expense (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Interest Expense and Other Financial Income and Expense [abstract] | |
Interest expense | (USD millions) 2022 2021 2020 Interest expense -669 -651 -708 Interest expense on lease liabilities -60 -62 -67 Expense arising from discounting long-term liabilities and capitalized borrowing costs -108 -98 -94 Total interest expense -837 -811 -869 |
Other financial income and expense | (USD millions) 2022 2021 2020 Interest income 379 71 91 Other financial income 19 12 18 Financial expense -194 -94 -52 Currency result, net -184 -69 -135 Total other financial income and expense 20 -80 -78 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Income Tax [abstract] | |
Income before taxes | (USD millions) 2022 2021 2020 Switzerland 1 5 986 22 028 9 786 Foreign 2 385 4 109 92 Income before taxes 8 371 26 137 9 878 1 The 2021 income before taxes in Switzerland includes a USD 14.6 billion non-taxable gain on the divestment of the Group’s investment in Roche Holding AG (see Note 2 and Note 4). |
Current and deferred income tax expense | The significant components of the provision for income taxes are as follows: (USD millions) 2022 2021 2020 Switzerland -617 -958 -932 Foreign -1 454 -1 470 -1 168 Current income tax expense -2 071 -2 428 -2 100 Switzerland -142 23 -137 Foreign 797 286 430 Deferred tax income 655 309 293 Income tax expense -1 416 -2 119 -1 807 |
Analysis of tax rate | (As a percentage) 2022 2021 2020 Applicable tax rate 16.8 14.8 13.6 Effect of disallowed expenditures 2.6 1.0 4.6 Effect of utilization of previously unrecognized tax losses brought forward from prior periods 0.0 0.0 -0.3 Effect of income taxed at reduced rates -0.3 -0.1 -0.3 Effect of income not subject to tax 1 -0.1 -7.5 -0.7 Effect of tax credits and allowances -3.8 -1.4 -2.3 Effect of release of contingent consideration liability -0.5 -0.1 -0.2 Effect of tax rate change on current and deferred tax assets and liabilities -0.1 0.0 0.3 Effect of derecognition and reversals of derecognition of deferred tax assets 1.2 0.0 0.2 Effect of write-down and reversal of write-down of investments in subsidiaries 0.0 0.0 -0.8 Effect of prior-year items -0.4 0.1 2.3 Effect of changes in uncertain tax positions 1.4 1.3 2.0 Effect of other items 0.1 0.0 -0.1 Effective tax rate 16.9 8.1 18.3 1 2021 includes the effect of income not subject to tax ( -7.3 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings per share [abstract] | |
Earnings per share | 2022 2021 2020 Net income attributable to shareholders of Novartis AG (USD millions) 6 955 24 021 8 072 Number of shares (in millions) Weighted average number of shares outstanding used in basic earnings per share 2 181 2 243 2 277 Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options 16 17 19 Weighted average number of shares in diluted earnings per share 2 197 2 260 2 296 Basic earnings per share (USD) 3.19 10.71 3.55 Diluted earnings per share (USD) 3.17 10.63 3.52 |
Changes in consolidated state_2
Changes in consolidated statements of comprehensive income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Comprehensive income [abstract] | |
Comprehensive income | Total value Value adjustments at December 31, 2019 120 -5 919 1 142 -4 657 -29 -4 686 Fair value adjustments on equity securities, net of taxes of USD -36 1 250 250 250 Net investment hedge -201 -201 -201 Defined benefit plans, net of taxes of USD -3 145 145 -2 143 Currency translation effects, net of taxes of USD 10 million 8.1 3 193 3 193 1 3 194 Total value adjustments in 2020 250 145 2 992 3 387 -1 3 386 Fair value adjustments on equity securities sold, reclassified to retained earnings -150 -150 -150 Value adjustments related to divestments 2 2 2 Impact of change in ownership of consolidated entities -1 -1 1 Value adjustments at December 31, 2020 220 -5 773 4 134 -1 419 -29 -1 448 Fair value adjustments on equity securities, net of taxes of USD -44 1 194 194 194 Net investment hedge, net of taxes of USD 33 million 216 216 216 Defined benefit plans, net of taxes of USD -323 1 808 1 808 1 1 809 Currency translation effects, net of taxes of USD 17 million 8.1 -4 757 -4 757 -5 -4 762 Total value adjustments in 2021 194 1 808 -4 541 -2 539 -4 -2 543 Fair value adjustments on equity securities sold, reclassified to retained earnings net of taxes of USD 48 million -164 -164 -164 Value adjustments related to divestments -62 -3 -65 -65 Value adjustments at December 31, 2021 188 -3 968 -407 -4 187 -33 -4 220 Fair value adjustments on equity securities, net of taxes of USD 81 million 1 -382 -382 -382 Net investment hedge, net of taxes of USD -30 91 91 91 Defined benefit plans, net of taxes of USD -104 -104 -104 1 -103 Currency translation effects, net of taxes of USD 18 million 8.1 -444 -444 -6 -450 Total value adjustments in 2022 -382 -104 -353 -839 -5 -844 Fair value adjustments on equity securities sold, reclassified to retained earnings net of taxes of nil -4 -4 -4 Value adjustments related to divestments, net of taxes of USD -4 34 34 34 Value adjustments at December 31, 2022 -198 -4 038 -760 -4 996 -38 -5 034 1 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, plant and equipment [table text block] | The following table summarizes the movements of property, plant and equipment during 2022: Machinery At January 1, 2022 Cost 492 11 819 1 508 13 328 27 147 Accumulated depreciation and impairment -7 -5 744 -65 -9 786 -15 602 Net book value 485 6 075 1 443 3 542 11 545 At January 1, 2022 485 6 075 1 443 3 542 11 545 Impact of acquisitions of businesses 13 13 Reclassifications 297 -964 667 Additions 3 124 780 312 1 219 Disposals and derecognitions -28 -49 -33 -45 -155 Depreciation charge -437 -726 -1 163 Impairment charge -7 -351 -13 -43 -414 Reversal of impairment charge 1 1 5 7 Currency translation effects -12 -166 -57 -53 -288 At December 31, 2022 442 5 493 1 157 3 672 10 764 At December 31, 2022 Cost 451 11 396 1 184 11 842 24 873 Accumulated depreciation and impairment -9 -5 903 -27 -8 170 -14 109 Net book value 442 5 493 1 157 3 672 10 764 Commitments for purchases of property, plant and equipment 549 Capitalized borrowing costs 5 The following table summarizes the movements of property, plant and equipment during 2021: Machinery At January 1, 2021 Cost 555 12 377 1 248 14 038 28 218 Accumulated depreciation and impairment -19 -5 807 -66 -10 063 -15 955 Net book value 536 6 570 1 182 3 975 12 263 At January 1, 2021 536 6 570 1 182 3 975 12 263 Reclassifications 197 -610 413 Additions 1 109 1 027 293 1 430 Disposals and derecognitions -30 -78 -12 -30 -150 Depreciation charge -453 -755 -1 208 Impairment charge -4 -137 -76 -167 -384 Reversal of impairment charge 5 70 16 12 103 Currency translation effects -23 -203 -84 -199 -509 At December 31, 2021 485 6 075 1 443 3 542 11 545 At December 31, 2021 Cost 492 11 819 1 508 13 328 27 147 Accumulated depreciation and impairment -7 -5 744 -65 -9 786 -15 602 Net book value 485 6 075 1 443 3 542 11 545 Commitments for purchases of property, plant and equipment 204 Capitalized borrowing costs 4 |
Property, plant and equipment impairment charges and reversals [table text block] | The following table shows the property, plant and equipment impairment charges and reversals by reporting segment: Impairment charges Impairment reversals (USD millions) 2022 2021 2020 2022 2021 2020 Innovative Medicines -411 -315 -326 4 44 2 Sandoz -3 -68 -121 3 59 5 Corporate -1 Total -414 -384 -447 7 103 7 |
Right-of-use assets and lease_2
Right-of-use assets and lease liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Right of use assets Disclosure and Lease liabilities [abstract] | |
Disclosure of Right-of-use assets roll forward | (USD millions) 2022 2021 Right-of-use assets at January 1 1 561 1 676 Impact of acquisitions of businesses 12 Additions 247 321 Depreciation charge -300 -318 Impairment charge 1 -3 Lease contract terminations 2 -34 -66 Currency translation effects -52 -52 Total right-of-use assets at December 31 1 431 1 561 1 2 |
Disclosure of right-of-use assets carrying value and depreciation charge | December 31, Depreciation December 31, Depreciation Land 505 16 522 11 Buildings 745 177 866 192 Vehicles 117 96 136 105 Machinery and equipment, and other assets 64 11 37 10 Total right-of-use assets 1 431 300 1 561 318 |
Disclosure of maturity analysis of lease liability | Lease liabilities Lease liabilities Less than one year 251 297 275 324 Between one and two years 190 232 216 258 Between two and three years 167 201 162 198 Between three and four years 137 172 139 172 Between four and five years 122 154 122 154 After five years 922 2 149 982 2 243 Total lease liabilities 1 789 3 205 1 896 3 349 Less current portion of lease liabilities -251 -297 -275 -324 Non-current portion of lease liabilities 1 538 2 908 1 621 3 025 Commitments for leases not yet commenced 83 134 |
Additional disclosures related to right-of-use assets and lease liabilities | (USD millions) 2022 2021 2020 Interest expense on lease liabilities 1 60 62 67 Expense on short-term leases 3 6 4 Expense on low-value leases 6 7 7 Total cash outflows for leases 355 381 379 Thereof: Cash outflows for short-term leases and low-value leases 2 9 13 11 Payments of interest 3 51 52 56 Payments of lease liabilities 4 295 316 312 1 The weighted average interest rate is 3.3% (2021: 3.2%, 2020: 3.4%). 2 3 4 |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Movements of goodwill and intangible assets | The following table summarizes the movements of goodwill and intangible assets in 2022: Goodwill Intangible assets other than goodwill In-process Currently Other At January 1, 2022 Cost 29 900 8 013 1 080 56 213 2 905 68 211 Accumulated amortization and impairment -305 -2 514 -903 -29 107 -1 505 -34 029 Net book value 29 595 5 499 177 27 106 1 400 34 182 At January 1, 2022 29 595 5 499 177 27 106 1 400 34 182 Impact of acquisitions of businesses 161 1 209 1 209 Reclassifications 1 -1 429 2 1 403 24 Additions 330 1 175 588 2 093 Disposals and derecognitions 2 -28 -95 -3 -2 -100 Amortization charge -37 -3 603 -342 -3 982 Impairment charge -917 -15 -322 -72 -1 326 Currency translation effects -427 -176 -6 -243 -7 -432 At December 31, 2022 29 301 4 421 121 25 513 1 589 31 644 At December 31, 2022 Cost 29 596 7 092 1 038 58 249 3 305 69 684 Accumulated amortization and impairment -295 -2 671 -917 -32 736 -1 716 -38 040 Net book value 29 301 4 421 121 25 513 1 589 31 644 1 2 The following table summarizes the movements of goodwill and intangible assets in 2021: Goodwill Intangible assets other than goodwill In-process Currently Other At January 1, 2021 Cost 30 321 6 893 1 115 57 333 2 384 67 725 Accumulated amortization and impairment -322 -2 193 -885 -26 566 -1 272 -30 916 Net book value 29 999 4 700 230 30 767 1 112 36 809 At January 1, 2021 29 999 4 700 230 30 767 1 112 36 809 Impact of acquisitions of businesses 238 262 292 98 652 Reclassifications 1 -20 15 5 Additions 958 270 508 1 736 Disposals and derecognitions 2 -36 -1 -37 Amortization charge -41 -3 607 -255 -3 903 Impairment charge -350 -17 -1 -35 -403 Currency translation effects -642 -51 -10 -584 -27 -672 At December 31, 2021 29 595 5 499 177 27 106 1 400 34 182 At December 31, 2021 Cost 29 900 8 013 1 080 56 213 2 905 68 211 Accumulated amortization and impairment -305 -2 514 -903 -29 107 -1 505 -34 029 Net book value 29 595 5 499 177 27 106 1 400 34 182 1 2 |
Allocation of net book values of goodwill and intangible assets by reporting segment | Goodwill 1 Intangible assets other than goodwill In-process Currently Other Innovative Medicines 21 531 4 186 14 24 487 1 139 29 826 Sandoz 7 770 235 107 1 026 92 1 460 Corporate 358 358 Net book value at December 31, 2022 29 301 4 421 121 25 513 1 589 31 644 1 The following table summarizes the allocation of the net book values of goodwill and intangible assets by reporting segment at December 31, 2021: Goodwill 1 Intangible assets other than goodwill In-process Currently Other Innovative Medicines 21 562 5 313 15 25 938 1 091 32 357 Sandoz 8 026 186 162 1 168 61 1 577 Corporate 7 248 248 Net book value at December 31, 2021 29 595 5 499 177 27 106 1 400 34 182 1 |
Assumptions used in the calculation of valuation | Innovative Terminal growth rate 1.5 1.0 Discount rate (post-tax) 8.0 8.0 |
Intangible asset impairment charges and reversals | Impairment charges Impairment reversals (USD millions) 2022 2021 2020 2022 2021 2020 Innovative Medicines 1 -1 299 -367 -768 Sandoz -25 -28 -141 Corporate -2 -8 -5 Total -1 326 -403 -914 1 2022 includes an impairment of USD 0.6 billion related to the write-down of IPR&D related to cessation of clinical development program UNR844. 2021 includes an impairment of USD 0.2 billion related to the write-down of IPR&D related to cessation of clinical development program GTX312. 2020 includes an impairment of USD 0.5 billion related to the write-down of IPR&D related to cessation of clinical development program ZPL389 for atopic dermatitis and USD 0.2 billion related to a partial write-down of the Votrient Votrient |
Deferred tax assets and liabi_2
Deferred tax assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Deferred Tax Assets and Liabilities [abstract] | |
Schedule of Deferred Tax Assets and Liabilities | Pensions and Gross deferred tax assets at January 1, 2022 125 1 307 1 026 2 273 374 2 727 7 832 Gross deferred tax liabilities at January 1, 2022 -381 -4 704 -591 -148 -1 335 -7 159 Net deferred tax balance at January 1, 2022 -256 -3 397 435 2 125 374 1 392 673 At January 1, 2022 -256 -3 397 435 2 125 374 1 392 673 Credited/(charged) to income 69 628 -5 -43 5 1 655 Charged to equity 1 1 Credited/(charged) to other comprehensive income -2 -104 63 -43 Impact of acquisitions of businesses -300 55 1 -244 Other movements 4 10 -7 -6 -9 19 11 Net deferred tax balance at December 31, 2022 -185 -3 059 319 2 076 425 1 477 1 053 Gross deferred tax assets at December 31, 2022 158 1 726 739 2 214 425 2 789 8 051 Gross deferred tax liabilities at December 31, 2022 -343 -4 785 -420 -138 -1 312 -6 998 Net deferred tax balance at December 31, 2022 -185 -3 059 319 2 076 425 1 477 1 053 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 4 312 Deferred tax assets at December 31, 2022 3 739 Deferred tax liabilities at December 31, 2022 -2 686 Net deferred tax balance at December 31, 2022 1 053 Gross deferred tax assets at January 1, 2021 189 1 351 1 137 2 502 507 2 658 8 344 Gross deferred tax liabilities at January 1, 2021 -430 -5 269 -340 -159 -10 -1 344 -7 552 Net deferred tax balance at January 1, 2021 -241 -3 918 797 2 343 497 1 314 792 At January 1, 2021 -241 -3 918 797 2 343 497 1 314 792 Credited/(charged) to income -27 567 -22 -215 -121 127 309 Charged to equity -35 -35 Credited/(charged) to other comprehensive income -323 6 -317 Impact of acquisitions of businesses -58 12 -46 Other movements 12 12 -17 -3 -14 -20 -30 Net deferred tax balance at December 31, 2021 -256 -3 397 435 2 125 374 1 392 673 Gross deferred tax assets at December 31, 2021 125 1 307 1 026 2 273 374 2 727 7 832 Gross deferred tax liabilities at December 31, 2021 -381 -4 704 -591 -148 -1 335 -7 159 Net deferred tax balance at December 31, 2021 -256 -3 397 435 2 125 374 1 392 673 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 4 089 Deferred tax assets at December 31, 2021 3 743 Deferred tax liabilities at December 31, 2021 -3 070 Net deferred tax balance at December 31, 2021 673 Deferred tax liabilities have not been recognized for the withholding tax and other taxes that would be payable on the remittance of earnings of foreign subsidiaries, insofar as the Group has the ability to control any future reversal and the unremitted earnings are retained in the foreign subsidiaries for reinvestment. The total unremitted earnings retained for reinvestment in the Group’s foreign subsidiaries that would be subject to withholding tax or other taxes if remitted to the Group are estimated at approximately USD 32 billion in 2022, (2021: USD 29 billion). The gross value of tax-loss carry-forwards that have or have not been recognized as deferred tax assets, with their expiry dates, is as follows: |
Gross value of tax-loss carry-forwards | (USD millions) Unrecognized Recognized 2022 total One year 18 0 18 Two years 37 5 42 Three years 25 5 30 Four years 138 0 138 Five years 79 688 767 More than five years 3 880 2 380 6 260 Not subject to expiry 433 452 885 Total 4 610 3 530 8 140 (USD millions) Unrecognized Rcognized 2021 total One year 15 4 19 Two years 14 6 20 Three years 37 10 47 Four years 26 11 37 Five years 146 20 166 More than five years 3 536 1 872 5 408 Not subject to expiry 418 684 1 102 Total 4 192 2 607 6 799 (USD millions) 2022 2021 2020 Tax losses carried forward that expired 6 18 14 Deferred tax assets related to carry-forwards of taxable losses and tax credits of relevant Group entities are recognized to the extent it is considered probable that future taxable profits will be available in the respective tax jurisdictions against which such losses and credits can be utilized. |
Financial and other non-curre_2
Financial and other non-current assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of financial and other non-current assets [abstract] | |
Financial assets | (USD millions) 2022 2021 Equity securities 1 145 1 663 Debt securities 37 34 Fund investments 281 366 Total financial investments 1 463 2 063 Long-term receivables from finance subleases 59 70 Other long-term receivables 197 184 Contingent consideration receivables 1 607 641 Long-term loans, advances and security deposits 85 78 Total financial assets 2 411 3 036 1 |
Other non-current assets | (USD millions) 2022 2021 Deferred compensation plans 419 520 Prepaid post-employment benefit plans 1 491 1 415 Other non-current assets 200 275 Total other non-current assets 1 110 2 210 1 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Inventories Disclosure [abstract] | |
Inventories by class | (USD millions) 2022 2021 Raw material, consumables 934 870 Work in progress 3 673 3 160 Finished products 2 568 2 636 Total inventories 7 175 6 666 |
Amount of inventory recognized as an expense in cost of goods sold | (USD billions) 2022 2021 2020 Cost of goods sold -8.6 -8.8 -8.5 |
Recognized amount of inventory provisions and reversals of inventory provision | (USD millions) 2022 2021 2020 Inventory provisions -633 -573 -702 Reversals of inventory provisions 161 158 255 |
Trade receivables (Tables)
Trade receivables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of trade receivables [abstract] | |
Provisions for trade receivables | (USD millions) 2022 2021 Total gross trade receivables 8 128 8 088 Provisions for doubtful trade receivables -62 -83 Total trade receivables, net 8 066 8 005 |
Trade receivables provision movements | (USD millions) 2022 2021 2020 January 1 -83 -93 -95 Provisions for doubtful trade receivables charged to the consolidated income statement -47 -39 -59 Utilization of provisions for doubtful trade receivables 9 9 13 Reversal of provisions for doubtful trade receivables credited to the consolidated income statement 56 34 53 Currency translation effects 3 6 -5 December 31 -62 -83 -93 |
Overdue amounts and related provision | (USD millions) 2022 2021 Not overdue 7 664 7 639 Past due for not more than one month 190 162 Past due for more than one month but less than three months 110 99 Past due for more than three months but less than six months 62 63 Past due for more than six months but less than one year 23 28 Past due for more than one year 79 97 Provisions for doubtful trade receivables -62 -83 Total trade receivables, net 8 066 8 005 |
Trade receivables denominated in other currencies | (USD millions) 2022 2021 US dollar (USD) 3 709 3 344 Euro (EUR) 1 426 1 408 Russian ruble (RUB) 430 473 Japanese yen (JPY) 177 383 British pound (GBP) 176 200 Chinese yuan (CNY) 155 197 Canadian dollar (CAD) 151 139 Brazilian real (BRL) 145 129 Australian dollar (AUD) 137 139 Swiss franc (CHF) 108 106 Other currencies 1 452 1 487 Total trade receivables, net 8 066 8 005 |
Marketable securities, commod_2
Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of marketable securities commodities deposits derivative instruments and cash [abstract] | |
Marketable securities, commodities, timedeposits, and derivative financial instruments | (USD millions) 2022 2021 Commodities 111 111 Debt securities 9 2 741 Time deposits and short-term investments with original maturity more than 90 days 11 089 12 965 Derivative financial instruments 204 105 Total marketable securities, commodities, time deposits and derivative financial instruments 11 413 15 922 |
Cash and cash equivalents | (USD millions) 2022 2021 Current accounts 2 877 3 396 Time deposits and short-term investments with original maturity less than 90 days 4 640 9 011 Total cash and cash equivalents 7 517 12 407 |
Other current assets (Tables)
Other current assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other current assets [abstract] | |
Other current assets | (USD millions) 2022 2021 VAT receivable 509 487 Withholding tax recoverable 50 58 Prepaid expenses 911 1 102 Contingent consideration receivable 1 43 Other receivables and current assets 958 793 Total other current assets 2 471 2 440 1 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of equity [abstract] | |
Schedule disclosing information related to movement in the share capital | Movement Movement Movement Share capital 1 936 -23 913 -12 901 -11 890 Treasury shares -80 27 -53 5 -48 -44 -92 Outstanding share capital 856 4 860 -7 853 -55 798 1 The Novartis AG share capital consists of registered shares with a nominal value of CHF 0.50 each. No authorized and conditional capital exists. |
Schedule disclosing information related to movement in the shares | 2022 2021 2020 Total Total 1 Total Total Total 1 Total Total Total 1 Total Balance at beginning of year 2 434.4 -199.5 2 234.9 2 467.0 -210.2 2 256.8 2 527.3 -262.3 2 265.0 Shares canceled for capital reduction 2 -30.7 30.7 -32.6 32.6 -60.3 60.3 Shares acquired to be canceled 3 -126.2 -126.2 -30.7 -30.7 -32.6 -32.6 Other share purchases 4 -1.4 -1.4 -1.5 -1.5 -1.7 -1.7 Exercise of options and employee transactions 5 18.9 1.9 1.9 0.6 0.6 14.7 14.7 Equity-based compensation 5 10.4 10.4 9.6 9.6 11.0 11.0 Shares delivered to Alcon employees 0.0 0.0 0.1 0.1 0.4 0.4 Total movements -30.7 -84.6 -115.3 -32.6 10.7 -21.9 -60.3 52.1 -8.2 Balance at end of year 2 403.7 -284.1 2 119.6 2 434.4 -199.5 2 234.9 2 467.0 -210.2 2 256.8 1 Approximately 99.0 million treasury shares (2021: 102.5 million; 2020: 103.0 million) are held in Novartis entities that restrict their availability for use. 2 3 Shares repurchased on the SIX Swiss Exchange second trading line under a CHF 10 billion share buyback authority approved at the 2019 Annual General Meeting (AGM) for transactions after February 28, 2019, until March 2, 2021. Transactions after March 2, 2021, were executed under the CHF 10 billion share buyback authority approved at the 2021 AGM and the additional CHF 10 billion authority approved at the 2022 AGM. 4 5 |
Schedule disclosing information related to Dividend | 2022 2021 2020 Dividend per share (in CHF) 3.10 3.00 2.95 Total dividend payment (in USD billion) 7.5 7.4 7.0 |
Schedule disclosing information related treasury shares movements | 2022 2021 2020 Number of Number of Number of Shares acquired to be canceled 1 -126.2 -10 787 -30.7 -2 775 -32.6 -2 897 Other share purchases 2 -1.4 -123 -1.5 -145 -1.7 -159 Purchase of treasury shares -127.6 -10 910 -32.2 -2 920 -34.3 -3 056 Exercise of options and employee transactions 3 18.9 1.9 88 0.6 39 14.7 806 Equity-based compensation 4 10.4 854 9.6 745 11.0 730 Shares delivered to Alcon employees 0.0 5 0.1 17 0.4 30 Total -115.3 -9 963 -21.9 -2 119 -8.2 -1 490 1 Shares repurchased on the SIX Swiss Exchange second trading line under a CHF 10 billion share buyback authority approved at the 2019 Annual General Meeting (AGM) for transactions after February 28, 2019, until March 2, 2021. Transactions after March 2, 2021, were executed under the CHF 10 billion share buyback authority approved at the 2021 AGM and the additional CHF 10 billion authority approved at the 2022 AGM. 2 3 4 |
Non-current financial debt (Tab
Non-current financial debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of financial liabilities [abstract] | |
Disclosure of non-current portion of non-current borrowings by type | (USD millions) 2022 2021 Straight bonds 22 341 25 296 Liabilities to banks and other financial institutions 1 144 227 Total, including current portion of non-current financial debt 22 485 25 523 Less current portion of non-current financial debt -2 241 -2 621 Total non-current financial debt 20 244 22 902 1 Average interest rate 2.3% (2021: 0.9%) |
Disclosure of detailed information about borrowings | Notional 2022 2021 2.400% USD 1 500 2012 2022 Novartis Capital Corporation, New York, United States 99.225% 1 498 3.700% USD 500 2012 2042 Novartis Capital Corporation, New York, United States 98.325% 490 490 3.400% USD 2 150 2014 2024 Novartis Capital Corporation, New York, United States 99.287% 2 147 2 144 4.400% USD 1 850 2014 2044 Novartis Capital Corporation, New York, United States 99.196% 1 827 1 826 1.625% EUR 600 2014 2026 Novartis Finance S.A., Luxembourg, Luxembourg 99.697% 638 676 0.250% CHF 500 2015 2025 Novartis AG, Basel, Switzerland 100.640% 541 547 0.625% CHF 550 2015 2029 Novartis AG, Basel, Switzerland 100.502% 595 602 1.050% CHF 325 2015 2035 Novartis AG, Basel, Switzerland 100.479% 352 356 3.000% USD 1 750 2015 2025 Novartis Capital Corporation, New York, United States 99.010% 1 742 1 740 4.000% USD 1 250 2015 2045 Novartis Capital Corporation, New York, United States 98.029% 1 221 1 220 0.125% EUR 1 250 2016 2023 Novartis Finance S.A., Luxembourg, Luxembourg 99.127% 1 330 1 409 0.625% EUR 500 2016 2028 Novartis Finance S.A., Luxembourg, Luxembourg 98.480% 528 559 2.400% USD 1 000 2017 2022 Novartis Capital Corporation, New York, United States 99.449% 1 000 3.100% USD 1 000 2017 2027 Novartis Capital Corporation, New York, United States 99.109% 994 993 1.125% EUR 600 2017 2027 Novartis Finance S.A., Luxembourg, Luxembourg 99.874% 638 677 0.500% EUR 750 2018 2023 Novartis Finance S.A., Luxembourg, Luxembourg 99.655% 798 846 1.375% EUR 750 2018 2030 Novartis Finance S.A., Luxembourg, Luxembourg 99.957% 797 846 1.700% EUR 750 2018 2038 Novartis Finance S.A., Luxembourg, Luxembourg 99.217% 792 840 1.750% USD 1 000 2020 2025 Novartis Capital Corporation, New York, United States 99.852% 998 998 2.000% USD 1 250 2020 2027 Novartis Capital Corporation, New York, United States 99.909% 1 246 1 246 2.200% USD 1 500 2020 2030 Novartis Capital Corporation, New York, United States 99.869% 1 494 1 493 2.750% USD 1 250 2020 2050 Novartis Capital Corporation, New York, United States 97.712% 1 215 1 214 0.000% 1 EUR 1 850 2020 2028 Novartis Finance S.A., Luxembourg, Luxembourg 99.354% 1 958 2 076 Total straight bonds 22 341 25 296 1 The EUR 1 850 million bond issued in 2020 features a coupon step-up of 0.25% |
Non-current financial debt including current portion by maturity | (USD millions) 2022 2021 2022 2 621 2023 2 241 2 342 2024 2 147 2 144 2025 3 281 3 284 2026 638 693 2027 2 909 2 916 After 2027 11 269 11 523 Total 22 485 25 523 |
Non-current financial debt including current portion by currency | (USD millions) 2022 2021 US dollar (USD) 13 376 15 862 Euro (EUR) 7 478 7 930 Japanese yen (JPY) 76 174 Swiss franc (CHF) 1 488 1 505 Others 67 52 Total 22 485 25 523 |
Comparison of balance sheet and fair value of total non-current financial debt including current portion | 2022 2022 2021 2021 Straight bonds 22 341 20 277 25 296 27 079 Others 144 144 227 227 Total 22 485 20 421 25 523 27 306 |
Provisions and other non-curr_2
Provisions and other non-current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about provisions and non-current liabilities [abstract] | |
Disclosure of other provisions [text block] | (USD millions) 2022 2021 Accrued liability for employee benefits: Defined benefit pension plans 1 1 723 2 640 Other long-term employee benefits and deferred compensation 554 662 Other post-employment benefits 1 362 487 Environmental remediation provisions 535 567 Provisions for product liabilities, governmental investigations and other legal matters 154 341 Contingent consideration 2 704 956 Other non-current liabilities 874 519 Total provisions and other non-current liabilities 4 906 6 172 1 2 |
Accrual for environmental loss contingencies [table text block] | (USD millions) 2022 2021 2020 January 1 616 809 714 Cash payments -6 -169 -10 Releases -18 - 105 -27 Additions 6 105 82 Currency translation effects -10 -24 50 December 31 588 616 809 Less current provision -53 -49 -167 Non-current environmental remediation provisions at December 31 535 567 642 |
Accrual for environmental loss contingencies, fiscal year maturity [table text block] | Expected Due within two years 128 Due later than two years, but within five years 163 Due later than five years, but within 10 years 251 Due after 10 years 46 Total environmental remediation provisions 588 |
Accrual for product liabilities government investigations other legal matters loss contingencies [table text block] | (USD millions) 2022 2021 2020 January 1 397 487 1 369 Impact of acquisitions of businesses 4 11 Cash payments -105 -292 -1 863 Releases of provisions -52 -44 -31 Additions to provisions 466 251 1 018 Currency translation effects -8 -5 -17 December 31 702 397 487 Less current portion -548 -56 -306 Non-current product liabilities, governmental investigations and other legal matters provisions at December 31 154 341 181 |
Current financial debt and de_2
Current financial debt and derivative financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of current financial debt and derivative instruments [abstract] | |
Current financial debt and derivative instruments | (USD millions) 2022 2021 Interest-bearing accounts of employees payable on demand 1 1 814 Bank and other financial debt 2 863 899 Commercial paper 2 772 893 Current portion of non-current financial debt 2 241 2 621 Derivative financial instruments 55 68 Total current financial debt and derivative financial instruments 5 931 6 295 1 Weighted average interest rate 0.25% through September 30, 2022 (2021: 0.25%) 2 Weighted average interest rate 9.7% (2021: 6.1%) |
Provisions and other current _2
Provisions and other current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of provisions and other current liabilities [abstract] | |
Provisions and other current liabilities | (USD millions) 2022 2021 Taxes other than income taxes 836 619 Restructuring provisions 1 131 345 Accrued expenses for goods and services received but not invoiced 1 059 1 089 Accruals for royalties 767 752 Accrued interests on financial debt 116 127 Provisions for deductions from revenue 6 732 6 481 Accruals for compensation and benefits, including social security 2 321 2 260 Environmental remediation provisions 53 49 Deferred income 123 123 Provisions for product liabilities, governmental investigations and other legal matters 1 548 56 Accrued share-based payments 235 253 Contingent consideration 2 131 119 Commitment for repurchase of own shares 3 2 809 Other payables 743 588 Total provisions and other current liabilities 14 795 15 670 1 2 3 |
Provisions for reduction of revenue | (USD millions) 2022 2021 2020 January 1 6 481 6 256 5 595 Effect of currency translation, business combinations -210 -218 234 Payments/utilizations -22 261 -19 838 -19 294 Adjustments of prior years charged to income statement -322 -245 -151 Current year income statement charge 23 072 20 413 19 773 Change in provisions offset against gross trade receivables -28 113 99 December 31 6 732 6 481 6 256 The provisions for deductions from revenue include specific healthcare plans and program rebates as well as non-healthcare plans and program-related rebates, returns and other deductions. The provisions for deductions from revenue are adjusted to reflect experience and to reflect actual amounts as rebates, refunds, discounts and returns are processed. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these deductions from revenue. |
Restructuring provisions movements | (USD millions) 2022 2021 2020 January 1 345 459 438 Additions 1 368 328 354 Cash payments -468 -344 -268 Releases -42 -54 -87 Transfers -53 -27 Currency translation effects -19 -17 22 December 31 1 131 345 459 |
Details to the consolidated s_2
Details to the consolidated statements of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of details to the consolidated statements of cash flows [abstract] | |
Adjustments for non-cash items from continuing operations | (USD millions) 2022 2021 2020 Depreciation, amortization and impairments on: Property, plant and equipment 1 570 1 489 1 758 Right-of-use assets 303 318 330 Intangible assets 5 308 4 306 4 376 Financial assets 1 260 -38 -335 Change in provisions and other non-current liabilities 1 403 896 1 411 Gains on disposal and other adjustments on property, plant and equipment; intangible assets; financial assets; and other non-current assets, net -333 -677 -478 Equity-settled compensation expense 823 736 738 Loss/(income) from associated companies 2 9 -15 339 -673 Income taxes 1 416 2 119 1 807 Net financial expense 817 891 947 Other -30 Total 11 546 -5 299 9 881 1 2 2021 included the gain of USD 14.6 billion recognized from the divestment of the Group's investment in Roche (see Notes 2 and 4). In 2022, other than through business combinations, there were USD 635 million additions to intangible assets with deferred payments. In 2022, there were USD 247 million (2021: USD 321 million, 2020: USD 346 million) additions to right-of-use assets recognized. |
Cash flows from changes in working capital and other operating items included in operating cash flow from continuing operations | (USD millions) 2022 2021 2020 (Increase)/decrease in inventories -830 81 -543 (Increase)/decrease in trade receivables -589 -389 137 Decrease in trade payables -48 -21 -324 Change in other current and non-current assets -194 -202 229 Change in other current liabilities 658 772 211 Other adjustments, net 0 -1 Total -1 003 241 -291 |
Cash flows arising from acquisitions and divestments of businesses | (USD millions) Note 2022 2021 2020 Net assets recognized as a result of acquisitions of businesses 24 -1 077 -735 -10 173 Fair value of previously held equity interests 21 42 7 Contingent consideration payables, net 205 59 98 Payments, deferred consideration and other adjustments, net -13 1 62 Cash flows used for acquisitions of businesses -864 -633 -10 006 Cash flows (used for)/from divestments of businesses, net 1 -15 66 49 Cash flows used for acquisitions and divestments of businesses, net -879 -567 -9 957 1 In 2022, USD 15 million net cash outflows from divestments of businesses included USD 20 million reduction to cash and cash equivalents due to the derecognized cash and cash equivalents following a loss of control of a company upon expiry of an option to purchase the company, partly offset by USD 5 million net cash inflows from business divestments in 2022 and in prior years. In 2022, the net identifiable assets of divested businesses amounted to USD 173 million, comprised of non-current assets of USD 132 million, current assets of USD 113 million, including USD 71 million cash and cash equivalents and of non-current and current liabilities of USD 72 million. Deferred sales price receivables and other adjustments amounted to USD 41 million. In 2021, USD 66 million included USD 52 million net cash inflows from divestments in previous years, and a USD 14 million net cash inflow from a business divestment in 2021, comprised of intangible assets. In 2020, USD 49 million represented the net cash inflows from divestments in previous years. |
Reconciliation of liabilities arising from financing activities | Current January 1, 2022 22 902 6 295 1 621 275 Increase in non-current financial debts 16 Repayments of the current portion of non-current financial debts -2 575 Change in current financial debts 1 295 Payments of lease liabilities -295 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities -51 New, modified and terminated leases, net 173 49 Impact of acquisitions and divestments of businesses, net 9 3 Changes in fair values, lease interest and other changes, net -13 60 Amortization of bonds discount 17 5 Currency translation effects -366 -401 -41 -14 Reclassification from non-current to current, net -2 325 2 325 -224 224 December 31, 2022 20 244 5 931 1 538 251 1 Change in current financial debts included net cash outflows from interest-bearing accounts of employees payable on demand amounting to USD 1.7 billion. See Note 21. Current January 1, 2021 26 259 9 785 1 719 286 Increase in non-current financial debts 16 Repayments of the current portion of non-current financial debts -2 162 Change in current financial debts -3 524 Payments of lease liabilities, net -316 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities -52 New, modified and terminated leases, net 192 61 Impact of acquisitions of businesses 1 Changes in fair values, lease interest and other changes, net -124 62 Amortization of bonds discount 25 4 Currency translation effects -774 -309 -43 -13 Reclassification from non-current to current, net -2 624 2 624 -247 247 December 31, 2021 22 902 6 295 1 621 275 Current January 1, 2020 20 353 7 031 1 703 246 Increase in non-current financial debts 7 126 Repayments of the current portion of non-current financial debts -2 003 Change in current financial debts 2 261 Payments of lease liabilities, net -312 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities -56 New, modified and terminated leases, net 221 73 Impact of acquisitions of businesses 32 36 8 Changes in fair values, lease interest and other changes, net -1 -30 65 Amortization of bonds discount 16 5 Currency translation effects 832 392 39 12 Reclassification from non-current to current, net -2 067 2 067 -250 250 December 31, 2020 26 259 9 785 1 719 286 |
Acquisitions of businesses (Tab
Acquisitions of businesses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of acquisition of businesses [abstract] | |
Fair value of assets and liabilities arising from acquisitions | (USD millions) 2022 2021 2020 Property, plant and equipment 13 26 Right-of-use assets 12 32 Currently marketed products 292 196 Acquired research and development 1 209 262 8 600 Other intangible assets 98 218 Deferred tax assets 56 28 476 Non-current financial and other assets 49 Inventories 84 Trade receivables and financial and other current assets 5 1 109 Cash and cash equivalents 89 10 76 Deferred tax liabilities -300 -74 -1 977 Current and non-current financial debts -1 -32 Current and non-current lease liabilities -12 -44 Trade payables and other liabilities -67 -4 -144 Net identifiable assets acquired 1 005 612 7 669 Acquired cash and cash equivalents -89 -10 -76 Non-controlling interests -105 Goodwill 161 238 2 580 Net assets recognized as a result of acquisitions of businesses 1 077 735 10 173 |
Post-employment benefits for _2
Post-employment benefits for employees (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Statement [line items] | |
Summary of the funded and unfunded defined benefit obligation for pension and other post retirement benefit plans table | Pension plans Other post-employment benefit plans (USD millions) 2022 2021 2022 2021 Benefit obligation at January 1 23 583 25 602 560 632 Current service cost 348 415 12 11 Interest cost 249 151 17 16 Past service costs and settlements -40 63 1 -3 Administrative expenses 23 24 Remeasurement gains arising from changes in financial assumptions 1 -5 046 -713 -94 -20 Remeasurement (gains)/losses arising from changes in demographic assumptions -53 -377 4 Experience-related remeasurement losses/(gains) 199 531 -28 -47 Currency translation effects -650 -865 -2 -1 Benefit payments -1 253 -1 450 -44 -32 Contributions of employees 174 179 Effect of acquisitions, divestments or transfers -1 23 Benefit obligation at December 31 17 533 23 583 422 560 Fair value of plan assets at January 1 22 420 22 317 73 89 Interest income 220 105 2 2 Return on plan assets excluding interest income -2 500 1 512 -12 7 Currency translation effects -539 -726 Novartis Group contributions 424 490 41 7 Contributions of employees 174 179 Settlements -1 -7 Benefit payments -1 253 -1 450 -44 -32 Effect of acquisitions, divestments or transfers Fair value of plan assets at December 31 18 945 22 420 60 73 Funded status 1 412 -1 163 -362 -487 Limitation on recognition of fund surplus at January 1 -62 -51 Change in limitation on recognition of fund surplus -2 504 -16 Currency translation effects -76 6 Interest income on limitation of fund surplus -2 -1 Limitation on recognition of fund surplus at December 31 2 -2 644 -62 Net liability in the balance sheet at December 31 -1 232 -1 225 -362 -487 1 2 As of December 31, 2022, the most significant pension plans where the asset ceiling was required to be applied were in Switzerland and amounted to USD 2 587 million. |
Reconciliation of the net liability table | Pension plans Other post-employment benefit plans (USD millions) 2022 2021 2022 2021 Net liability at January 1 -1 225 -3 336 -487 -543 Current service cost -348 -415 -12 -11 Net interest expense -31 -47 -15 -14 Administrative expenses -23 -24 Past service costs and settlements 39 -70 -1 3 Remeasurements 2 400 2 071 110 70 Currency translation effects 35 145 2 1 Novartis Group contributions 424 490 41 7 Effect of acquisitions, divestments or transfers 1 -23 Change in limitation on recognition of fund surplus -2 504 -16 Net liability at December 31 -1 232 -1 225 -362 -487 Amounts recognized in the consolidated balance sheet Prepaid benefit cost 491 1 415 Accrued benefit liability -1 723 -2 640 -362 -487 |
Principal weighted average actuarial assumptions | Pension plans Other post-employment benefit plans 2022 2021 2020 2022 2021 2020 Weighted average assumptions used to determine benefit obligations at December 31 Discount rate 3.0% 0.9% 0.6% 6.3% 3.3% 2.9% Expected rate of pension increase 0.4% 0.5% 0.3% Expected rate of salary increase 2.9% 2.7% 2.7% Interest on savings account 2.2% 0.5% 0.1% Current average life expectancy for a 65-year-old male in years 22 22 22 21 21 21 Current average life expectancy for a 65-year-old female in years 24 24 24 23 23 23 |
The sensitivity of the defined benefit pension obligation to the principal actuarial assumptions | Change in 2022 Change in 2021 25 basis point increase in discount rate -466 -790 25 basis point decrease in discount rate 491 839 One-year increase in life expectancy 535 869 25 basis point increase in rate of pension increase 316 512 25 basis point decrease in rate of pension increase -63 -136 25 basis point increase of interest on savings account 38 58 25 basis point decrease of interest on savings account -37 -58 25 basis point increase in rate of salary increase 37 54 25 basis point decrease in rate of salary increase -37 -54 |
The healthcare cost trend rate assumptions used for other post-employment benefits | 2022 2021 2020 Healthcare cost trend rate assumed for next year 6.5% 6.0% 6.3% Rate to which the cost trend rate is assumed to decline 4.5% 4.5% 4.5% Year that the rate reaches the ultimate trend rate 2031 2028 2028 |
The weighted average plan asset allocation of funded defined benefit pension plans | Pension plans Long-term Long-term Equity securities 15 40 24 27 Debt securities 20 60 31 33 Real estate 5 30 21 19 Alternative investments 0 20 18 15 Cash and other investments 0 15 6 6 Total 100 100 |
Asset allocation, investments in shares of Novartis AG | December 31, December 31, Investment in shares of Novartis AG Number of shares (in millions) 2.3 2.3 Market value (in USD billions) 0.2 0.2 |
The expected future cash flows in respect of pension and other post- employment benefit plans | Other post- Novartis Group contributions 2023 (estimated) 397 38 Expected future benefit payments 2023 1 268 38 2024 1 441 38 2025 1 128 38 2026 1 114 38 2027 1 099 38 2028–2032 5 310 171 |
Defined contribution plans | (USD millions) 2022 2021 2020 Contributions for defined contribution plans 520 523 501 The Group’s total personnel costs amounted to USD 14.9 billion in 2022. |
Pension plans | |
Statement [line items] | |
Breakdown of defined benefit obligation for pension plans and other post-employment benefit | 2022 2021 United Rest of United Rest of Benefit obligation at December 31 11 824 2 746 2 963 17 533 15 268 3 645 4 670 23 583 Thereof unfunded 556 363 919 688 439 1 127 By type of member Active 4 799 431 931 6 161 6 478 620 1 412 8 510 Deferred pensioners 830 861 1 691 1 208 1 730 2 938 Pensioners 7 025 1 485 1 171 9 681 8 790 1 817 1 528 12 135 Fair value of plan assets at December 31 14 701 1 978 2 266 18 945 16 436 2 551 3 433 22 420 Funded status 2 877 -768 -697 1 412 1 168 -1 094 -1 237 -1 163 |
Other post-employment benefit plans | |
Statement [line items] | |
Breakdown of defined benefit obligation for pension plans and other post-employment benefit | 2022 2021 United Rest of United Rest of Benefit obligation at December 31 346 76 422 473 87 560 Thereof unfunded 286 76 362 400 87 487 By type of member Active 30 18 48 60 23 83 Deferred pensioners 8 0 8 13 0 13 Pensioners 308 58 366 400 64 464 Fair value of plan assets at December 31 60 0 60 73 0 73 Funded status -286 -76 -362 -400 -87 -487 |
Equity-based participation pl_2
Equity-based participation plans for employees (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Statement [line items] | |
Expense related to all equity-based participation and liabilities arising from equity-based payment transactions | (USD millions) 2022 2021 2020 Expense related to equity-based participation plans 1 048 979 958 Liabilities arising from equity-based payment transactions 235 253 269 |
Schedule of unvested restricted stock units roll forward | 2022 2021 Weighted Weighted Annual Incentive – RSU 0.2 74.7 0.2 87.5 – Restricted shares 0.1 85.0 0.1 97.0 Share savings plans – RSU 0.4 75.0 0.4 86.9 – Shares 1.2 85.0 1.1 97.0 Novartis Employee Share Purchase Plan 0.8 82.8 Select North America (RSU) 4.9 74.5 4.3 86.9 Select outside North America – RSU 2.0 75.1 1.8 86.9 – Restricted shares 0.7 85.0 0.6 97.0 Long-Term Performance Plan (PSU) 1.7 82.0 1.8 89.5 Other share awards – RSU 0.5 76.3 0.6 78.4 – Restricted shares 0.1 86.9 – Shares 0.1 86.1 0.1 91.9 |
Select outside North America | |
Statement [line items] | |
Disclosure of number and weighted average remaining contractual life of outstanding share options | 2022 2021 Weighted Weighted Options outstanding at January 1 1.7 63.6 2.6 62.0 Sold or exercised -1.2 62.6 -0.9 58.9 Outstanding at December 31 0.5 66.0 1.7 63.6 Exercisable at December 31 0.5 66.0 1.7 63.6 |
Select North America | |
Statement [line items] | |
Disclosure of number and weighted average remaining contractual life of outstanding share options | 2022 2021 Weighted Weighted Options outstanding at January 1 4.0 64.4 6.7 62.9 Sold or exercised -2.9 63.7 -2.7 60.7 Outstanding at December 31 1.1 66.1 4.0 64.4 Exercisable at December 31 1.1 66.1 4.0 64.4 |
Transactions with related par_2
Transactions with related parties (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | |
Executive Officers and Non-Executive Directors Compensation | Executive Officers Non-Executive Directors Total (USD millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Cash and other compensation 25.0 20.3 25.6 4.6 4.7 4.6 29.6 25.0 30.2 Post-employment benefits 2.8 2.5 2.7 2.8 2.5 2.7 Equity-based compensation 42.6 37.3 41.1 4.8 5.2 5.2 47.4 42.5 46.3 Total 70.4 60.1 69.4 9.4 9.9 9.8 79.8 70.0 79.2 |
Transactions with former members of the Board of Directors | Currency 2022 2021 2020 Dr. Krauer CHF 60 000 60 000 Dr. Alex Krauer, was an Honorary Chairman of Novartis and was entitled to an amount of CHF 60 000 for annual periods from one AGM to the next. This amount was fixed in 1998 upon his departure from the Board in 1999. The last payment under this arrangement was in 2021. |
Commitments and contingencies (
Commitments and contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and contingencies [abstract] | |
Leasing commitments | (USD millions) 2022 2023 420 2024 808 2025 448 2026 282 2027 687 Thereafter 3 169 Total 5 814 |
Financial instruments - addit_2
Financial instruments - additional disclosures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments - additional disclosure [abstract] | |
Disclosure of financial assets and financial liabilities | 2022 Financial Cash and cash equivalents 16 7 517 Time deposits and short-term investments with original maturity more than 90 days 16 11 089 Trade receivables 15 8 066 Other receivables and current assets 17 958 Marketable securities - debt securities 16 9 Long-term financial investments - equity securities 13 828 317 Long-term financial investments - debt securities 13 37 Long-term financial investments - fund investments 13 281 Long-term loans, advances, security deposits and other long-term receivables 13 341 Associated companies at fair value through profit and loss 129 Derivative financial instruments 16 204 Contingent consideration receivables 13/17 650 Total financial assets 27 971 874 1 581 Bank and other short-term financial debt 21 863 Commercial paper 21 2 772 Straight bonds 19 22 341 Long-term liabilities to banks and other financial institutions 19 144 Trade payables 5 146 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 1 067 Derivative financial instruments 21 55 Lease liabilities 10 1 789 Total financial liabilities 31 266 1 122 1 789 2021 Financial Cash and cash equivalents 1 16 10 397 2 010 Time deposits and short-term investments with original maturity more than 90 days 16 12 965 Trade receivables 15 8 005 Other receivables and current assets 17 793 Marketable securities - debt securities 16 2 741 Long-term financial investments - equity securities 13 1 195 468 Long-term financial investments - debt securities 13 34 Long-term financial investments - fund investments 13 366 Long-term loans, advances, security deposits and other long-term receivables 13 332 Associated companies at fair value through profit and loss 192 Derivative financial instruments 16 105 Contingent consideration receivables 13 641 Total financial assets 32 492 5 980 1 772 Interest-bearing accounts of employees payable on demand 21 1 814 Bank and other short-term financial debt 21 899 Commercial paper 21 893 Straight bonds 19 25 296 Long-term liabilities to banks and other financial institutions 19 227 Trade payables 5 553 Commitment for repurchase of own shares 18/22 2 809 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 1 094 Derivative financial instruments 21 68 Lease liabilities 10 1 896 Total financial liabilities 37 491 1 162 1 896 1 |
Derivative financial instruments | Contract or underlying principal amount Positive fair values Negative fair values (USD millions) 2022 2021 2022 2021 2022 2021 Forward foreign exchange rate contracts 7 907 13 248 189 92 -41 -35 Commodity purchase contract 97 17 15 13 Options on equity securities 39 82 -14 -33 Total derivative financial instruments included in marketable securities and in current financial debts 8 043 13 347 204 105 -55 -68 |
Contract or underlying principal amount the derivative financial instruments, by currency | 2022 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 687 5 659 1 561 7 907 Commodity purchase contract 80 17 97 Options on equity securities 39 39 Total derivative financial instruments 767 5 715 1 561 8 043 2021 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 1 485 5 158 6 605 13 248 Commodity purchase contract 17 17 Options on equity securities 82 82 Total derivative financial instruments 1 485 5 257 6 605 13 347 |
Fair value by hierarchy | 2022 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Marketable securities Debt securities 9 9 Derivative financial instruments 204 204 Total marketable securities and derivative financial instruments at fair value 213 213 Current contingent consideration receivables 43 43 Long-term financial investments Debt and equity securities 473 10 699 1 182 Fund investments 20 261 281 Non-current contingent consideration receivables 607 607 Total long-term financial investments at fair value 493 10 1 567 2 070 Associated companies at fair value through profit and loss 129 129 Financial liabilities Current contingent consideration liabilities -131 -131 Derivative financial instruments -55 -55 Total current financial liabilities at fair values -55 -131 -186 Non-current contingent consideration liabilities -704 -704 Other financial liabilities -232 -232 Total non-current financial liabilities at fair value -936 -936 2021 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents Debt securities 1 2 010 2 010 Total cash and cash equivalents at fair value 2 010 2 010 Marketable securities and derivative financial instruments Debt securities 2 719 22 2 741 Derivative financial instruments 105 105 Total marketable securities and derivative financial instruments at fair value 2 719 127 2 846 Long-term financial investments Debt and equity securities 1 080 617 1 697 Fund investments 28 338 366 Contingent consideration receivables 641 641 Total long-term financial investments at fair value 1 108 1 596 2 704 Associated companies at fair value through profit and loss 192 192 Financial liabilities Contingent consideration payables -1 075 -1 075 Derivative financial instruments -68 -68 Other financial liabilities -19 -19 Total financial liabilities at fair value -68 -1 094 -1 162 1 |
Reconciliation of changes in fair value measurement | 2022 Associated January 1 192 338 617 641 -1 075 -19 Fair value gains and other adjustments, including from divestments recognized in the consolidated income statement 4 35 53 530 15 Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement -63 -78 -84 -114 -18 Fair value adjustments recognized in the consolidated statement of comprehensive income, including currency translation effects 24 11 Purchases 4 11 160 -231 -238 Cash receipts and payments -44 44 28 Disposals -12 -13 Reclassification -4 -2 -40 December 31 129 261 699 650 -835 -232 Total of fair value gains and losses recognized in the consolidated income statement for assets and liabilities held at December 31, 2022 -63 -74 -49 53 416 -3 2021 Associated January 1 211 366 460 625 -1 046 Fair value gains and other adjustments, including from divestments recognized in the consolidated income statement 2 70 69 124 182 Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement -26 -8 -13 -44 -189 Fair value adjustments recognized in the consolidated statement of comprehensive income, including currency translation effects -2 -1 51 -22 22 Purchases 34 12 137 -88 Cash receipts and payments -42 44 Disposals -27 -71 -43 Reclassification -30 -44 December 31 192 338 617 641 -1 075 Total of fair value gains and losses recognized in the consolidated income statement for assets and liabilities held at December 31, 2021 -24 62 56 80 -7 |
Equity securities measured at fair value through other comprehensive income | (USD millions) 2022 2021 Listed equity securities 438 888 Non-listed equity securities 390 307 Total equity securities 828 1 195 |
Monitoring of net debt or liquidity based on contractual maturities | 2022 Due later than Due later than Due later than Current assets Marketable securities, time deposits and short-term investments with original maturity more than 90 days and accrued interest 4 142 6 911 36 9 11 098 Commodities 111 111 Derivative financial instruments 23 147 19 15 204 Cash and cash equivalents 4 011 3 506 7 517 Total current financial assets 8 176 10 564 55 135 18 930 Non-current liabilities Financial debt -8 975 -11 269 -20 244 Financial debt - undiscounted -9 002 -11 394 -20 396 Total non-current financial debt -8 975 -11 269 -20 244 Current liabilities Financial debt -3 215 -146 -2 515 -5 876 Financial debt - undiscounted -3 215 -146 -2 517 -5 878 Derivative financial instruments -38 -13 -4 -55 Total current financial debt -3 253 -159 -2 519 -5 931 Net debt 4 923 10 405 -2 464 -8 975 -11 134 -7 245 2021 Due later than Due later than Due later than Current assets Marketable securities, time deposits and short-term investments with original maturity more than 90 days and accrued interest 11 14 585 1 088 4 18 15 706 Commodities 111 111 Derivative financial instruments 21 64 7 13 105 Cash and cash equivalents 7 406 5 001 12 407 Total current financial assets 7 438 19 650 1 095 4 142 28 329 Non-current liabilities Financial debt -8 464 -14 438 -22 902 Financial debt - undiscounted -8 490 -14 587 -23 077 Total non-current financial debt -8 464 -14 438 -22 902 Current liabilities Financial debt -2 780 -521 -2 926 -6 227 Financial debt - undiscounted -2 780 -521 -2 928 -6 229 Derivative financial instruments -50 -16 -2 -68 Total current financial debt -2 830 -537 -2 928 -6 295 Net debt 4 608 19 113 -1 833 -8 460 -14 296 -868 |
Derivative financial instruments and accrued interest on derivative financial instruments | 2022 Due later than Due later than Derivative financial instruments and accrued interest on derivative financial instruments Potential outflows in various currencies - from financial derivative liabilities -2 029 -4 598 -316 -6 943 Potential inflows in various currencies - from financial derivative assets 2 029 4 712 321 7 062 2021 Due later than Due later than Derivative financial instruments and accrued interest on derivative financial instruments Potential outflows in various currencies - from financial derivative liabilities -843 -5 482 -461 -6 786 Potential inflows in various currencies - from financial derivative assets 847 5 516 457 6 820 |
Other contractual liabilities of the net debt or liquidity | 2022 Due later than Due later than Contractual interest on non-current liabilities -64 -412 -1 432 -3 624 -5 532 Lease liabilities 1 -71 -180 -616 -922 -1 789 Trade payables -5 020 -126 -5 146 Contingent consideration liabilities -16 -115 -437 -267 -835 1 2021 Due later than Due later than Contractual interest on non-current liabilities -82 -445 -1 628 -3 908 -6 063 Lease liabilities 1 -78 -197 -639 -982 -1 896 Trade payables -5 373 -180 -5 553 Commitment for repurchase of own shares -2 809 -2 809 Contingent consideration liabilities -54 -65 -517 -439 -1 075 1 |
Potential impact on the consolidated income statement due to increase (decrease) in currency exchange rates | (USD millions) 2022 2021 5% increase in foreign currency exchange rates against USD -6 3 5% decrease in foreign currency exchange rates against USD 7 -3 |
Potential impact on the consolidated equity due to increase (decrease) in currency exchange rates | (USD millions) 2022 2021 5% increase in foreign currency exchange rates against USD 93 99 5% decrease in foreign currency exchange rates against USD -98 -104 |
Potential impact on the consolidated income statement due to increase (decrease) in equity prices | (USD millions) 2022 2021 15% increase in equity prices 109 154 15% decrease in equity prices -109 -154 |
Potential impact on the consolidated equity due to increase (decrease) in equity prices | (USD millions) 2022 2021 15% increase in equity prices 124 179 15% decrease in equity prices -124 -179 |
Principal Group subsidiaries _2
Principal Group subsidiaries and associated companies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of subsidiaries [abstract] | |
Principal Group subsidiaries and associated companies | Share 1 Equity Algeria Société par actions SANDOZ Algiers DZD 650.0 m 100% Argentina Novartis Argentina S.A. Buenos Aires ARS 906.1 m 100% Australia Novartis Australia Pty Ltd Macquarie Park, NSW AUD 2 100% Novartis Pharmaceuticals Australia Pty Ltd Macquarie Park, NSW AUD 3.8 m 100% Sandoz Pty Ltd Macquarie Park, NSW AUD 11.6 m 100% Austria Novartis Austria GmbH Vienna EUR 1.0 m 100% Novartis Pharma GmbH Vienna EUR 1.1 m 100% Sandoz GmbH Kundl EUR 32.7 m 100% EBEWE Pharma Ges.m.b.H Nfg. KG Unterach am Attersee EUR 1.0 m 100% Bangladesh Novartis (Bangladesh) Limited Gazipur BDT 162.5 m 60% Belgium Novartis Pharma NV Vilvoorde EUR 72.1 m 100% Sandoz NV Vilvoorde EUR 19.2 m 100% Alcon - Couvreur NV Puurs EUR 110.6 m 100% Bermuda Novartis Investment Ltd. Hamilton 2 USD 12 000 100% Novartis Securities Investment Ltd. Hamilton CHF 30 000 100% Novartis Finance Services Ltd. Hamilton CHF 20 000 100% Triangle International Reinsurance Limited Hamilton CHF 1.0 m 100% Trinity River Insurance Co Ltd. Hamilton USD 370 000 100% Brazil Novartis Biociências S.A. São Paulo BRL 507.1 m 100% Sandoz do Brasil Indústria Farmacêutica Ltda. Cambé, PR BRL 190.0 m 100% Canada Novartis Pharmaceuticals Canada Inc. Dorval, Quebec CAD 1.2 m 100% Sandoz Canada Inc. Boucherville, Quebec CAD 80.8 m 100% Chile Novartis Chile S.A. Santiago de Chile CLP 2.0 bn 100% China Beijing Novartis Pharma Co., Ltd. Beijing USD 30.0 m 100% Novartis Pharmaceuticals (HK) Limited Hong Kong HKD 200 100% China Novartis Institutes for BioMedical Research Co., Ltd. Shanghai USD 320.0 m 100% Suzhou Novartis Technical Development Co., Ltd. Changshu USD 12.0 m 100% Shanghai Novartis Trading Ltd. Shanghai USD 3.2 m 100% Sandoz (China) Pharmaceutical Co., Ltd. Zhongshan USD 57.6 m 100% Colombia Novartis de Colombia S.A. Santafé de Bogotá COP 7.9 bn 100% Croatia Sandoz d.o.o. farmaceutska industrija Zagreb HRK 25.6 m 100% Czech Republic Novartis s.r.o. Prague CZK 51.5 m 100% Sandoz s.r.o. Prague CZK 44.7 m 100% Denmark Novartis Healthcare A/S Copenhagen DKK 14.0 m 100% Sandoz A/S Copenhagen DKK 12.0 m 100% Ecuador Novartis Ecuador S.A. Quito USD 4.0 m 100% Egypt Novartis Pharma S.A.E. Cairo EGP 1.3 bn 99.96% Sandoz Egypt Pharma S.A.E. New Cairo City EGP 250 000 100% Finland Novartis Finland Oy Espoo EUR 459 000 100% Share 1 Equity France Novartis Groupe France S.A. Rueil-Malmaison EUR 903.0 m 100% Novartis Pharma S.A.S. Rueil-Malmaison EUR 43.4 m 100% Novartis Gene Therapies France SAS Rueil-Malmaison EUR 10 000 100% Advanced Accelerator Applications S.A. Rueil-Malmaison EUR 9.6 m 99.23% Advanced Accelerator Applications Molecular Imaging France Saint-Genis-Pouilly EUR 7.5 m 99.23% CELLforCURE Les Ulis EUR 4.2 m 100% Sandoz S.A.S. Levallois-Perret EUR 5.4 m 100% Germany Novartis Deutschland GmbH Nuremberg EUR 155.5 m 100% Novartis Business Services GmbH Wehr EUR 25 000 100% Novartis Pharma GmbH Nuremberg EUR 25.6 m 100% Novartis Pharma Produktions GmbH Wehr EUR 2.0 m 100% Sandoz International GmbH Holzkirchen EUR 100 000 100% 1 A Pharma GmbH Holzkirchen EUR 26 000 100% HEXAL AG Holzkirchen EUR 93.7 m 100% Salutas Pharma GmbH Barleben EUR 42.1 m 100% Aeropharm GmbH Rudolstadt EUR 26 000 100% Greece Novartis (Hellas) S.A.C.I. Metamorphosis / Athens EUR 233.9 m 100% Hungary Novartis Hungary Healthcare Limited Liability Company Budapest HUF 545.6 m 100% Sandoz Hungary Limited Liability Company Budapest HUF 883.0 m 100% India Novartis India Limited Mumbai INR 123.5 m 70.68% Novartis Healthcare Private Limited Mumbai INR 60.0 m 100% Sandoz Private Limited Mumbai INR 32.0 m 100% Indonesia PT. Novartis Indonesia Jakarta IDR 7.7 bn 100% Ireland Novartis Ireland Limited Dublin EUR 25 000 100% Novartis Integrated Services Limited Cork City EUR 100 100% Novartis Gene Therapies EU Limited Dublin EUR 100 100% Israel Novartis Israel Ltd. Tel Aviv ILS 1 000 100% Italy Novartis Farma S.p.A. Milan EUR 18.2 m 100% Advanced Accelerator Applications (Italy) S.r.l. Pozzilli EUR 119 000 99.23% Sandoz S.p.A. Origgio EUR 1.7 m 100% Japan Novartis Pharma K.K. Tokyo JPY 100.0 m 100% Ciba-Geigy Japan Limited Tokyo JPY 100.0 m 100% Sandoz K.K. Tokyo JPY 100.0 m 100% Latvia Novartis Baltics SIA Riga EUR 3.0 m 100% Luxembourg Novartis Investments S.à r.l. Luxembourg City 2 USD 100.0 m 100% Novartis Finance S.A. Luxembourg City USD 100 000 100% Malaysia Novartis Corporation (Malaysia) Sdn. Bhd. Petaling Jaya MYR 3.3 m 100% Mexico Novartis Farmacéutica, S.A. de C.V. Mexico City MXN 205.0 m 100% Sandoz, S.A. de C.V. Mexico City MXN 468.2 m 100% Morocco Novartis Pharma Maroc SA Casablanca MAD 80.0 m 100% Netherlands Novartis Netherlands B.V. Amsterdam EUR 1.4 m 100% Novartis Pharma B.V. Amsterdam EUR 4.5 m 100% IDB Holland BV Baarle-Nassau EUR 18 000 99.23% Sandoz B.V. Almere EUR 907 560 100% New Zealand Novartis New Zealand Ltd Auckland NZD 820 000 100% Share 1 Equity Norway Novartis Norge AS Oslo NOK 1.5 m 100% Pakistan Novartis Pharma (Pakistan) Limited Karachi PKR 6.7 bn 99.99% Panama Novartis Pharma (Logistics), Inc. Panama City USD 10 000 100% Philippines Novartis Healthcare Philippines, Inc. Makati City PHP 298.8 m 100% Sandoz Philippines Corporation Makati City PHP 30.0 m 100% Poland Novartis Poland Sp. z o.o. Warsaw PLN 44.2 m 100% Sandoz Polska Sp. z o.o. Warsaw PLN 25.6 m 100% Lek S.A. Strykow PLN 11.4 m 100% Portugal Novartis Portugal, S.G.P.S., Lda. Porto Salvo EUR 500 000 100% Novartis Farma - Produtos Farmacêuticos, S.A. Porto Salvo EUR 2.4 m 100% Sandoz Farmacêutica, Lda. Porto Salvo EUR 499 900 100% Romania Novartis Pharma Services Romania S.R.L. Bucharest RON 3.0 m 100% Sandoz S.R.L. Targu-Mures RON 119.5 m 100% Russian Federation Novartis Pharma LLC Moscow RUB 20.0 m 100% Novartis Neva LLC St. Petersburg RUB 500.0 m 100% JSC Sandoz Moscow RUB 57.4 m 100% Saudi Arabia Novartis Saudi Ltd. Riyadh SAR 30.0 m 100% Singapore Novartis (Singapore) Pte Ltd. Singapore SGD 100 000 100% Novartis Singapore Pharmaceutical Manufacturing Pte Ltd Singapore SGD 45.0 m 100% Novartis Asia Pacific Pharmaceuticals Pte Ltd Singapore SGD 39.0 m 100% Slovakia Novartis Slovakia s.r.o. Bratislava EUR 2.0 m 100% Slovenia Lek Pharmaceuticals d.d. Ljubljana EUR 48.4 m 100% Sandoz Pharmaceuticals d.d. Ljubljana EUR 1.5 m 100% South Africa Novartis South Africa (Pty) Ltd Midrand ZAR 86.3 m 100% Sandoz South Africa (Pty) Ltd Midrand ZAR 3.0 m 100% South Korea Novartis Korea Ltd. Seoul KRW 24.5 bn 100% Spain Novartis Farmacéutica, S.A. Barcelona EUR 63.0 m 100% Advanced Accelerator Applications Iberica, S.L.U. Esplugues de Llobregat EUR 22.6 m 99.23% Sandoz Farmacéutica S.A. Madrid EUR 270 450 100% Sandoz Industrial Products S.A. Les Franqueses del Vallés / Barcelona EUR 9.3 m 100% Abadia Retuerta S.A. Sardón de Duero / Valladolid EUR 6.0 m 100% Sweden Novartis Sverige AB Stockholm SEK 5.0 m 100% Switzerland Novartis International AG Basel CHF 10.0 m 100% Novartis Holding AG Basel 2 CHF 100.2 m 100% Novartis International Pharmaceutical Investment AG Basel CHF 100 000 100% Novartis Bioventures AG Basel CHF 100 000 100% Novartis Forschungsstiftung Basel 3 -- -- -- Novartis Stiftung für Kaderausbildung Basel 3 -- -- -- Novartis-Mitarbeiterbeteiligungsstiftung Basel 3 -- -- -- Novartis Stiftung für Mensch und Umwelt Basel 3 -- -- -- Stiftung der Novartis AG für Erziehung, Ausbildung und Bildung Basel 3 -- -- -- Novartis Overseas Investments AG Basel CHF 1.0 m 100% Japat AG Basel CHF 50 000 100% Novartis Pharma AG Basel 2 CHF 350.0 m 100% Novartis Pharma Services AG Basel CHF 20.0 m 100% Novartis Pharma Schweizerhalle AG Muttenz CHF 18.9 m 100% Novartis Pharma Stein AG Stein CHF 251 000 100% Novartis Pharma Schweiz AG Risch CHF 5.0 m 100% Cellerys AG Schlieren CHF 129 630 20% Arctos Medical AG Bern CHF 360 020 100% Novartis Innovative Therapies AG Risch CHF 100 000 100% Advanced Accelerator Applications International SA Geneva CHF 9.3 m 99.23% Sandoz AG Basel 2 CHF 5.0 m 100% Sandoz Pharmaceuticals AG Risch CHF 100 000 100% Share 1 Equity Taiwan Novartis (Taiwan) Co., Ltd. Taipei TWD 170.0 m 100% Thailand Novartis (Thailand) Limited Bangkok THB 302.0 m 100% Turkey Novartis Saglik, Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. Istanbul TRY 448.0 m 100% Farmanova Saglik Hizmetleri Ltd. Sti. Istanbul TRY 6.7 m 100% Sandoz Ilaç Sanayi ve Ticaret A.S. Istanbul TRY 880.0 m 99.99% Sandoz Grup Saglik Ürünleri Ilaçlari Sanayi ve Ticaret A.S. Gebze - Kocaeli TRY 96.0 m 100% Ukraine Sandoz Ukraine LLC Kyiv UAH 8.0 m 100% United Arab Emirates Novartis Middle East FZE Dubai AED 7.0 m 100% United Kingdom Novartis UK Limited London GBP 25.5 m 100% Novartis Pharmaceuticals UK Limited London GBP 5.4 m 100% Novartis Grimsby Limited London GBP 250.0 m 100% Advanced Accelerator Applications (UK & Ireland) London GBP 100 99.23% Neutec Pharma Limited London GBP 7.7 m 100% Gyroscope Therapeutics Limited London GBP 1 492 100% Sandoz Limited Frimley / Camberley GBP 2.0 m 100% United States of America Novartis Corporation East Hanover, NJ USD 72.2 m 100% Novartis Finance Corporation East Hanover, NJ 2 USD 1 000 100% Novartis Capital Corporation East Hanover, NJ USD 1 100% Novartis Services, Inc. East Hanover, NJ USD 1 100% Novartis US Foundation East Hanover, NJ 3 -- -- -- Novartis Pharmaceuticals Corporation East Hanover, NJ 2 USD 650 100% Advanced Accelerator Applications USA, Inc. Millburn, NJ USD 1 99.23% Novartis Gene Therapies, Inc. Bannockburn, IL USD 1 100% Novartis Technology LLC East Hanover, NJ -- -- -- Novartis Institutes for BioMedical Research, Inc. Cambridge, MA USD 1 100% Cadent Therapeutics Cambridge, MA USD 0.1 100% Endocyte, Inc. East Hanover, NJ USD 1 100% Navigate BioPharma Services, Inc. Carlsbad, CA USD 1 100% The Medicines Company East Hanover, NJ USD 1 000 100% Sandoz Inc. Princeton, NJ USD 25 000 100% Oriel Therapeutics, Inc. Durham, NC USD 50.0 m 100% Fougera Pharmaceuticals Inc. Melville, NY USD 1 100% Eon Labs, Inc. Princeton, NJ USD 1 100% Venezuela Novartis de Venezuela, S.A. Caracas VES 0 100% Vietnam Novartis Vietnam Company Limited Ho Chi Minh City VND 70 bn 100% In addition, the Group is represented by subsidiaries and associated companies with total assets or net sales to third parties below USD 25 million in the following countries: Bosnia and Herzegovina, Bulgaria, Cameroon, Dominican Republic, Ghana, Guatemala, Ivory Coast, Kazakhstan, Kenya, Kuwait, North Macedonia, Nigeria, Peru, Senegal and Uruguay. 1 2 3 m = million; bn = billion |
Significant accounting polici_4
Significant accounting policies (Details) | Dec. 31, 2022 SFr / shares |
Statement [line items] | |
Par value per share | SFr 0.50 |
Significant transactions (Detai
Significant transactions (Details) € in Millions, shares in Millions | 1 Months Ended | 12 Months Ended | |||||||||||||
Feb. 17, 2022 USD ($) | Dec. 22, 2021 USD ($) | Oct. 08, 2021 USD ($) | Jan. 31, 2020 USD ($) | Jan. 31, 2020 EUR (€) | Jan. 06, 2020 USD ($) | Nov. 23, 2019 USD ($) | Mar. 31, 2020 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) | Dec. 31, 2022 SFr / shares | Feb. 10, 2021 | Jan. 31, 2020 EUR (€) | Sep. 06, 2018 USD ($) | |
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Identifiable assets acquired (liabilities assumed) | $ 1,077,000,000 | $ 735,000,000 | $ 10,173,000,000 | ||||||||||||
Par value per share | SFr / shares | SFr 0.50 | ||||||||||||||
Deferred tax liability (asset) | (1,053,000,000) | (673,000,000) | (792,000,000) | ||||||||||||
Intangible assets other than goodwill | 31,644,000,000 | 34,182,000,000 | |||||||||||||
Revenue from sale of goods | 50,545,000,000 | 51,626,000,000 | 48,659,000,000 | ||||||||||||
Borrowings | 22,485,000,000 | 25,523,000,000 | |||||||||||||
Depreciation, property, plant and equipment | 1,163,000,000 | 1,208,000,000 | |||||||||||||
Innovative Medicines | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Revenue from sale of goods | 42,121,000,000 | 42,790,000,000 | 39,805,000,000 | ||||||||||||
Sandoz | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Revenue from sale of goods | 9,454,000,000 | 9,811,000,000 | 9,835,000,000 | ||||||||||||
Corporate | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Revenue from sale of goods | $ (1,030,000,000) | (975,000,000) | $ (981,000,000) | ||||||||||||
Roche Holding AG, Switzerland | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations | $ 20,700,000,000 | ||||||||||||||
Number of bearer shares | shares | 53.3 | ||||||||||||||
Gain on divestment of interests in associated companies | $ 14,556,000,000 | ||||||||||||||
Sandoz | Sandoz | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Consideration transferred, divestment-date fair value | $ 800,000,000 | ||||||||||||||
Depreciation, property, plant and equipment | $ 38,000,000 | ||||||||||||||
Amortisation, intangible assets other than goodwill | 102,000,000 | ||||||||||||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | $ (42,000,000) | ||||||||||||||
Aspen Global Incorporated | Sandoz | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Consideration transferred, acquisition-date fair value | $ 324,000,000 | € 294 | |||||||||||||
Portion of consideration paid consisting of cash and cash equivalents upfront payment | (303,000,000) | € (274) | |||||||||||||
Identifiable assets acquired (liabilities assumed) | 238,000,000 | ||||||||||||||
Additional recognition, goodwill | 86,000,000 | ||||||||||||||
Other net assets | 26,000,000 | ||||||||||||||
Deferred tax liability (asset) | 16,000,000 | ||||||||||||||
Intangible assets other than goodwill | 196,000,000 | ||||||||||||||
Potential milestone maximum payments | 77,000,000 | 70 | |||||||||||||
Customary purchase price adjustment | 30,000,000 | € 27 | |||||||||||||
Cash transferred | 273,000,000 | 247 | |||||||||||||
Contingent consideration recognised as of acquisition date | $ 51,000,000 | € 47 | |||||||||||||
The Medicines Company | Innovative Medicines | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Consideration transferred, acquisition-date fair value | $ 9,600,000,000 | ||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | $ (9,600,000,000) | ||||||||||||||
Identifiable assets acquired (liabilities assumed) | 7,100,000,000 | ||||||||||||||
Additional recognition, goodwill | 2,500,000,000 | ||||||||||||||
Cash offer per ordinary share | $ 85 | ||||||||||||||
Deferred tax liability (asset) | 1,400,000,000 | ||||||||||||||
Intangible assets other than goodwill | $ 8,500,000,000 | ||||||||||||||
GlaxoSmithKline plc (GSK) | Sandoz | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Consideration transferred, acquisition-date fair value | $ 415,000,000 | ||||||||||||||
Portion of consideration paid consisting of cash and cash equivalents upfront payment | (350,000,000) | ||||||||||||||
Identifiable assets acquired (liabilities assumed) | 308,000,000 | ||||||||||||||
Additional recognition, goodwill | 107,000,000 | ||||||||||||||
Deferred tax liability (asset) | 16,000,000 | ||||||||||||||
Intangible assets other than goodwill | 292,000,000 | ||||||||||||||
Number of brands in portfolio to acquire | 3 | ||||||||||||||
Number of markets for the acquired brands | 100 | ||||||||||||||
Potential milestone maximum payments | 150,000,000 | ||||||||||||||
Cash transferred | 351,000,000 | ||||||||||||||
Contingent consideration recognised as of acquisition date | $ 64,000,000 | ||||||||||||||
Gyroscope Therapeutics Holdings plc. | Innovative Medicines | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Consideration transferred, acquisition-date fair value | $ 1,000,000,000 | ||||||||||||||
Portion of consideration paid consisting of cash and cash equivalents upfront payment | (800,000,000) | $ (800,000,000) | |||||||||||||
Identifiable assets acquired (liabilities assumed) | 900,000,000 | ||||||||||||||
Additional recognition, goodwill | 100,000,000 | ||||||||||||||
Deferred tax liability (asset) | 200,000,000 | ||||||||||||||
Intangible assets other than goodwill | 1,100,000,000 | ||||||||||||||
Potential milestone maximum payments | $ 700,000,000 | ||||||||||||||
Contingent consideration recognised as of acquisition date | $ 200,000,000 | ||||||||||||||
Subsidiaries [member] | The Medicines Company | |||||||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||||||
Proportion of ownership interest in subsidiary | 100% |
Segmentation of key figures (De
Segmentation of key figures (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of operating segments [line items] | |
Number of Reportable Segments | 2 |
Innovative Medicines | |
Disclosure of operating segments [line items] | |
Number of Business Units | 2 |
Number of commercial organizational units | 2 |
Sandoz | |
Disclosure of operating segments [line items] | |
Number of Franchises | 3 |
Segmentation of key figures (_2
Segmentation of key figures (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 50,545 | $ 51,626 | $ 48,659 |
Net sales | 50,545 | 51,626 | 48,659 |
Other revenues | 1,283 | 1,251 | 1,239 |
Cost of goods sold | (15,486) | (15,867) | (15,121) |
Gross profit | 36,342 | 37,010 | 34,777 |
Selling, general and administration | (14,253) | (14,886) | (14,197) |
Research and development | (9,996) | (9,540) | (8,980) |
Other income | 805 | 1,852 | 1,742 |
Other expense | (3,701) | (2,747) | (3,190) |
Operating income | 9,197 | 11,689 | 10,152 |
(Loss)/income from associated companies | (9) | 15,339 | 673 |
Interest expense | (837) | (811) | (869) |
Other financial income and expense | 20 | (80) | (78) |
Income before taxes | 8,371 | 26,137 | 9,878 |
Income taxes | (1,416) | (2,119) | (1,807) |
Net income | 6,955 | 24,018 | 8,071 |
Attributable to | |||
Shareholders of Novartis AG | 6,955 | 24,021 | 8,072 |
Non-controlling interests | 0 | (3) | (1) |
Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 41,296 | 41,995 | 39,013 |
Sales to other segments | 825 | 795 | 792 |
Net sales | 42,121 | 42,790 | 39,805 |
Other revenues | 1,249 | 1,179 | 1,018 |
Cost of goods sold | (11,569) | (11,751) | (10,927) |
Gross profit | 31,801 | 32,218 | 29,896 |
Selling, general and administration | (11,679) | (12,306) | (11,657) |
Research and development | (9,172) | (8,641) | (8,118) |
Other income | 531 | 1,149 | 922 |
Other expense | (2,695) | (1,732) | (1,871) |
Operating income | 8,786 | 10,688 | 9,172 |
(Loss)/income from associated companies | (2) | 5 | 1 |
Sandoz | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 9,249 | 9,631 | 9,646 |
Sales to other segments | 205 | 180 | 189 |
Net sales | 9,454 | 9,811 | 9,835 |
Other revenues | 28 | 61 | 53 |
Cost of goods sold | (4,978) | (5,147) | (5,252) |
Gross profit | 4,504 | 4,725 | 4,636 |
Selling, general and administration | (2,062) | (2,062) | (2,076) |
Research and development | (824) | (899) | (862) |
Other income | 103 | 233 | 176 |
Other expense | (273) | (397) | (831) |
Operating income | 1,448 | 1,600 | 1,043 |
(Loss)/income from associated companies | 2 | 2 | 2 |
Corporate | |||
Disclosure of operating segments [line items] | |||
Sales to other segments | (1,030) | (975) | (981) |
Net sales | (1,030) | (975) | (981) |
Other revenues | 6 | 11 | 168 |
Cost of goods sold | 1,061 | 1,031 | 1,058 |
Gross profit | 37 | 67 | 245 |
Selling, general and administration | (512) | (518) | (464) |
Other income | 171 | 470 | 644 |
Other expense | (733) | (618) | (488) |
Operating income | (1,037) | (599) | (63) |
(Loss)/income from associated companies | $ (9) | $ 15,332 | $ 670 |
Segmentation of key figures (_3
Segmentation of key figures (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Interest income | $ 379 | $ 71 | $ 91 |
Impairment charges and fair value gains on financial assets, net | (260) | 38 | 335 |
Equity-based compensation of Novartis equity plans | (1,048) | (979) | (958) |
Restructuring provision [member] | |||
Disclosure of operating segments [line items] | |||
Additions to restructuring provisions | (1,368) | (328) | (354) |
Right-of-use assets [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (300) | (318) | (330) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (3) | ||
Intangible assets and goodwill [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (3,982) | (3,903) | (3,462) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (1,326) | (403) | (914) |
Property, plant and equipment [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (1,163) | (1,208) | (1,318) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (407) | (281) | (440) |
Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Impairment charges and fair value gains on financial assets, net | (134) | 43 | 153 |
Equity-based compensation of Novartis equity plans | (706) | (721) | (714) |
Innovative Medicines | Restructuring provision [member] | |||
Disclosure of operating segments [line items] | |||
Additions to restructuring provisions | (1,069) | (240) | (217) |
Innovative Medicines | Right-of-use assets [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (252) | (265) | (273) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (3) | ||
Innovative Medicines | Intangible assets and goodwill [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (3,728) | (3,638) | (3,080) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (1,299) | (367) | (768) |
Innovative Medicines | Property, plant and equipment [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (837) | (859) | (912) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (407) | (271) | (324) |
Sandoz | |||
Disclosure of operating segments [line items] | |||
Equity-based compensation of Novartis equity plans | (62) | (65) | (64) |
Sandoz | Restructuring provision [member] | |||
Disclosure of operating segments [line items] | |||
Additions to restructuring provisions | (40) | (62) | (98) |
Sandoz | Right-of-use assets [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (33) | (39) | (41) |
Sandoz | Intangible assets and goodwill [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (222) | (238) | (370) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (25) | (28) | (141) |
Sandoz | Property, plant and equipment [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (204) | (210) | (282) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (9) | (116) | |
Corporate | |||
Disclosure of operating segments [line items] | |||
Impairment charges and fair value gains on financial assets, net | (126) | (5) | 182 |
Equity-based compensation of Novartis equity plans | (280) | (193) | (180) |
Corporate | Restructuring provision [member] | |||
Disclosure of operating segments [line items] | |||
Additions to restructuring provisions | (259) | (26) | (39) |
Corporate | Right-of-use assets [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (15) | (14) | (16) |
Corporate | Intangible assets and goodwill [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (32) | (27) | (12) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (2) | (8) | (5) |
Corporate | Property, plant and equipment [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | $ (122) | (139) | $ (124) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | $ (1) |
Segmentation of key figures (_4
Segmentation of key figures (Details 3) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Total assets | $ 117,453 | $ 131,795 | |
Total liabilities | (58,030) | (63,973) | |
Total equity | 59,423 | 67,822 | $ 56,666 |
Net debt | 7,245 | 868 | |
Net operating assets | 66,668 | 68,690 | |
Property, plant and equipment | 10,764 | 11,545 | 12,263 |
Additions to property, plant and equipment | 1,219 | 1,430 | |
Right-of-use assets | 1,431 | 1,561 | $ 1,676 |
Additions to right-of-use assets | 247 | 321 | |
Intangible assets and goodwill | 60,945 | 63,777 | |
Additions to intangible assets and goodwill | 2,093 | 1,736 | |
Investment in associated companies | 143 | 205 | |
Additions to investment in associated companies | 38 | 43 | |
Cash and cash equivalents, marketable securities, commodities, time deposits and derivative financial instruments | 18,930 | 28,329 | |
Financial debts and derivative instruments | 26,175 | 29,197 | |
Current income tax liabilities and deferred tax liabilities | 5,219 | 5,485 | |
Operating segments [member] | Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Total assets | 75,510 | 79,220 | |
Total liabilities | (16,966) | (15,929) | |
Net operating assets | 58,544 | 63,291 | |
Property, plant and equipment | 8,488 | 9,168 | |
Additions to property, plant and equipment | 842 | 991 | |
Right-of-use assets | 1,233 | 1,349 | |
Additions to right-of-use assets | 196 | 222 | |
Intangible assets and goodwill | 51,357 | 53,919 | |
Additions to intangible assets and goodwill | 1,791 | 1,491 | |
Investment in associated companies | 107 | 170 | |
Additions to investment in associated companies | 25 | 24 | |
Operating segments [member] | Sandoz | |||
Disclosure of operating segments [line items] | |||
Total assets | 16,078 | 16,192 | |
Total liabilities | (3,710) | (3,632) | |
Net operating assets | 12,368 | 12,560 | |
Property, plant and equipment | 1,861 | 1,901 | |
Additions to property, plant and equipment | 292 | 349 | |
Right-of-use assets | 90 | 104 | |
Additions to right-of-use assets | 31 | 26 | |
Intangible assets and goodwill | 9,230 | 9,603 | |
Additions to intangible assets and goodwill | 163 | 102 | |
Investment in associated companies | 9 | 7 | |
Operating segments [member] | Corporate | |||
Disclosure of operating segments [line items] | |||
Total assets | 25,865 | 36,383 | |
Total liabilities | (37,354) | (44,412) | |
Net debt | 7,245 | 868 | |
Net operating assets | (4,244) | (7,161) | |
Property, plant and equipment | 415 | 476 | |
Additions to property, plant and equipment | 85 | 90 | |
Right-of-use assets | 108 | 108 | |
Additions to right-of-use assets | 20 | 73 | |
Intangible assets and goodwill | 358 | 255 | |
Additions to intangible assets and goodwill | 139 | 143 | |
Investment in associated companies | 27 | 28 | |
Additions to investment in associated companies | 13 | 19 | |
Cash and cash equivalents, marketable securities, commodities, time deposits and derivative financial instruments | 18,930 | 28,329 | |
Financial debts and derivative instruments | 26,175 | 29,197 | |
Current income tax liabilities and deferred tax liabilities | $ 5,219 | $ 5,485 |
Segmentation of key figures (_5
Segmentation of key figures (Details 4) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 50,545 | $ 51,626 | $ 48,659 |
Net sales (in % of total net sales) | 100% | 100% | 100% |
Total of selected non-current assets | $ 73,483 | $ 77,088 | |
Selected non-current assets (in % of total selected non-current assets) | 100% | 100% | |
Switzerland | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 970 | $ 873 | $ 800 |
Net sales (in % of total net sales) | 2% | 2% | 2% |
Total of selected non-current assets | $ 23,708 | $ 25,770 | |
Selected non-current assets (in % of total selected non-current assets) | 32% | 33% | |
US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 17,653 | $ 16,818 | $ 16,484 |
Net sales (in % of total net sales) | 35% | 33% | 34% |
Total of selected non-current assets | $ 35,353 | $ 37,054 | |
Selected non-current assets (in % of total selected non-current assets) | 48% | 48% | |
France | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 2,257 | $ 2,522 | $ 2,442 |
Net sales (in % of total net sales) | 4% | 5% | 5% |
Total of selected non-current assets | $ 3,188 | $ 3,615 | |
Selected non-current assets (in % of total selected non-current assets) | 4% | 5% | |
Germany | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 4,278 | $ 4,870 | $ 4,518 |
Net sales (in % of total net sales) | 8% | 9% | 9% |
Total of selected non-current assets | $ 2,229 | $ 2,378 | |
Selected non-current assets (in % of total selected non-current assets) | 3% | 3% | |
Japan | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 2,205 | $ 2,683 | $ 2,804 |
Net sales (in % of total net sales) | 4% | 5% | 6% |
Total of selected non-current assets | $ 165 | $ 217 | |
China | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 3,128 | $ 3,052 | $ 2,573 |
Net sales (in % of total net sales) | 6% | 6% | 5% |
Total of selected non-current assets | $ 599 | $ 703 | |
Selected non-current assets (in % of total selected non-current assets) | 1% | 1% | |
Other | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 20,054 | $ 20,808 | $ 19,038 |
Net sales (in % of total net sales) | 41% | 40% | 39% |
Total of selected non-current assets | $ 8,241 | $ 7,351 | |
Selected non-current assets (in % of total selected non-current assets) | 12% | 10% |
Segmentation of key figures (_6
Segmentation of key figures (Details 5) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 50,545 | $ 51,626 | $ 48,659 |
Net sales (in % of total net sales) | 100% | 100% | 100% |
Total of selected non-current assets | $ 73,483 | $ 77,088 | |
Selected non-current assets (in % of total selected non-current assets) | 100% | 100% | |
Europe [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 18,467 | $ 20,197 | $ 18,715 |
Net sales (in % of total net sales) | 37% | 39% | 38% |
Total of selected non-current assets | $ 35,896 | $ 37,525 | |
Selected non-current assets (in % of total selected non-current assets) | 49% | 49% | |
Americas [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 21,536 | $ 20,463 | $ 19,725 |
Net sales (in % of total net sales) | 42% | 40% | 41% |
Total of selected non-current assets | $ 35,806 | $ 37,522 | |
Selected non-current assets (in % of total selected non-current assets) | 49% | 49% | |
Asia/Africa/Australasia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 10,542 | $ 10,966 | $ 10,219 |
Net sales (in % of total net sales) | 21% | 21% | 21% |
Total of selected non-current assets | $ 1,781 | $ 2,041 | |
Selected non-current assets (in % of total selected non-current assets) | 2% | 2% |
Segmentation of key figures (_7
Segmentation of key figures (Details 6) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of major customers [line items] | |||
Customers with net sales over five percent | The Group’s largest, second-largest and third-largest customers account for approximately 16%, 11% and 7% of net sales to third parties, respectively (2021: 17%, 11% and 6%, respectively; 2020: 17%, 11% and 6%, respectively). All segments had sales to these customers in 2022, 2021 and 2020. The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 16%, 14% and 7%, respectively, of the trade receivables at December 31, 2022 (2021: 16%, 12% and 7%, respectively). | ||
Largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 16% | 17% | 17% |
Percentage of entitys trade receivable | 16% | 16% | |
Second largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 11% | 11% | 11% |
Percentage of entitys trade receivable | 14% | 12% | |
Third largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 7% | 6% | 6% |
Percentage of entitys trade receivable | 7% | 7% |
Segmentation of key figures - N
Segmentation of key figures - Net sales by region (Details 7) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 50,545 | $ 51,626 | $ 48,659 |
Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 6% | |
Europe [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 18,467 | $ 20,197 | 18,715 |
Europe [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (9.00%) | 8% | |
US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 17,653 | $ 16,818 | 16,484 |
US | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 5% | 2% | |
Asia/Africa/Australasia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 10,542 | $ 10,966 | 10,219 |
Asia/Africa/Australasia [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (4.00%) | 7% | |
Canada and Latin America [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 3,883 | $ 3,645 | 3,241 |
Canada and Latin America [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 7% | 12% | |
Established Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 37,008 | $ 38,314 | 36,732 |
Established Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (3.00%) | 4% | |
Emerging Growth Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 13,537 | $ 13,312 | 11,927 |
Emerging Growth Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 2% | 12% | |
Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 41,296 | $ 41,995 | 39,013 |
Innovative Medicines | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 8% | |
Innovative Medicines | Europe [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 13,554 | $ 14,919 | 13,484 |
Innovative Medicines | Europe [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (9.00%) | 11% | |
Innovative Medicines | US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 15,899 | $ 14,999 | 14,342 |
Innovative Medicines | US | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 6% | 5% | |
Innovative Medicines | Asia/Africa/Australasia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 8,929 | $ 9,304 | 8,718 |
Innovative Medicines | Asia/Africa/Australasia [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (4.00%) | 7% | |
Innovative Medicines | Canada and Latin America [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 2,914 | $ 2,773 | 2,469 |
Innovative Medicines | Canada and Latin America [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 5% | 12% | |
Innovative Medicines | Established Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 30,548 | $ 31,459 | 29,643 |
Innovative Medicines | Established Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (3.00%) | 6% | |
Innovative Medicines | Emerging Growth Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 10,748 | $ 10,536 | 9,370 |
Innovative Medicines | Emerging Growth Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 2% | 12% | |
Sandoz | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 9,249 | $ 9,631 | 9,646 |
Net sales, change in % | (4.00%) | 0% | |
Sandoz | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (4.00%) | 0% | |
Sandoz | Europe [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 4,913 | $ 5,278 | 5,231 |
Sandoz | Europe [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (7.00%) | 1% | |
Sandoz | US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,754 | $ 1,819 | 2,142 |
Sandoz | US | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (4.00%) | (15.00%) | |
Sandoz | Asia/Africa/Australasia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,613 | $ 1,662 | 1,501 |
Sandoz | Asia/Africa/Australasia [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (3.00%) | 11% | |
Sandoz | Canada and Latin America [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 969 | $ 872 | 772 |
Sandoz | Canada and Latin America [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 11% | 13% | |
Sandoz | Established Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 6,460 | $ 6,855 | 7,089 |
Sandoz | Established Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (6.00%) | (3.00%) | |
Sandoz | Emerging Growth Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 2,789 | $ 2,776 | $ 2,557 |
Sandoz | Emerging Growth Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 0% | 9% | |
Operating segments [member] | Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 8% |
Segmentation of key figures (_8
Segmentation of key figures (Details 8) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 50,545 | $ 51,626 | $ 48,659 |
Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 6% | |
Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 41,296 | $ 41,995 | 39,013 |
Innovative Medicines | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 8% | |
Operating segments [member] | Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 8% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 31,396 | $ 29,754 | 25,319 |
Net sales, change in % | 6% | 18% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Cardiovascular [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 4,756 | $ 3,560 | 2,497 |
Net sales, change in % | 34% | 43% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Cardiovascular [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 4,644 | $ 3,548 | 2,497 |
Net sales, change in % | 31% | 42% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Cardiovascular [member] | Leqvio [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 112 | $ 12 | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 7,287 | $ 7,205 | 6,119 |
Net sales, change in % | 1% | 18% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 4,788 | $ 4,718 | 3,995 |
Net sales, change in % | 1% | 18% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | Xolair [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,365 | $ 1,428 | 1,251 |
Net sales, change in % | (4.00%) | 14% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,133 | $ 1,059 | 873 |
Net sales, change in % | 7% | 21% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1 | ||
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 5,051 | $ 5,007 | 4,272 |
Net sales, change in % | 1% | 17% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 2,013 | $ 2,787 | 3,003 |
Net sales, change in % | (28.00%) | (7.00%) | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,370 | $ 1,351 | 920 |
Net sales, change in % | 1% | 47% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Kesimpta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,092 | $ 372 | 15 |
Net sales, change in % | 194% | ||
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Mayzent [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 357 | $ 281 | 170 |
Net sales, change in % | 27% | 65% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Aimovig [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 218 | $ 215 | 164 |
Net sales, change in % | 1% | 31% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1 | $ 1 | |
Net sales, change in % | 0% | ||
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 4,723 | $ 4,101 | 3,666 |
Net sales, change in % | 15% | 12% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,770 | $ 1,693 | 1,542 |
Net sales, change in % | 5% | 10% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,231 | $ 937 | 687 |
Net sales, change in % | 31% | 36% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 474 | $ 577 | 635 |
Net sales, change in % | (18.00%) | (9.00%) | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Lutathera [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 471 | $ 475 | 445 |
Net sales, change in % | (1.00%) | 7% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Piqray [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 373 | $ 329 | 320 |
Net sales, change in % | 13% | 3% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Pluvicto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 271 | 2 | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Tabrecta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 133 | $ 90 | 35 |
Net sales, change in % | 48% | 157% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 6,452 | $ 6,430 | 5,617 |
Net sales, change in % | 0% | 14% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 2,088 | $ 2,016 | 1,738 |
Net sales, change in % | 4% | 16% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,923 | $ 2,060 | 1,958 |
Net sales, change in % | (7.00%) | 5% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,561 | $ 1,595 | 1,339 |
Net sales, change in % | (2.00%) | 19% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 536 | $ 587 | 474 |
Net sales, change in % | (9.00%) | 24% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Adakveo [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 194 | $ 164 | 105 |
Net sales, change in % | 18% | 56% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Scemblix [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 149 | $ 7 | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1 | $ 1 | 3 |
Net sales, change in % | 0% | (67.00%) | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 3,127 | $ 3,451 | 3,148 |
Net sales, change in % | (9.00%) | 10% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,874 | $ 2,160 | 1,933 |
Net sales, change in % | (13.00%) | 12% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Xiidra [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 487 | $ 468 | 376 |
Net sales, change in % | 4% | 24% | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Ultibro Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 479 | $ 584 | 623 |
Net sales, change in % | (18.00%) | (6.00%) | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Beovu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 203 | $ 186 | 190 |
Net sales, change in % | 9% | (2.00%) | |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Other Respiratory [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 84 | $ 53 | 26 |
Net sales, change in % | 58% | 104% | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 9,900 | $ 12,241 | 13,694 |
Net sales, change in % | (19.00%) | (11.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,238 | $ 1,413 | 1,439 |
Net sales, change in % | (12.00%) | (2.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 859 | $ 1,092 | 1,199 |
Net sales, change in % | (21.00%) | (9.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 745 | $ 1,024 | 1,188 |
Net sales, change in % | (27.00%) | (14.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 743 | $ 901 | 980 |
Net sales, change in % | (18.00%) | (8.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 652 | $ 773 | 1,003 |
Net sales, change in % | (16.00%) | (23.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 512 | $ 938 | 1,083 |
Net sales, change in % | (45.00%) | (13.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Voltaren/Cataflam [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 334 | $ 373 | 360 |
Net sales, change in % | (10.00%) | 4% | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Zortress/Certican [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 329 | $ 431 | 452 |
Net sales, change in % | (24.00%) | (5.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 323 | $ 563 | 653 |
Net sales, change in % | (43.00%) | (14.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Neoral/Sandimmun(e) [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 310 | $ 368 | 393 |
Net sales, change in % | (16.00%) | (6.00%) | |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Contract manufacturing [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 214 | $ 108 | |
Net sales, change in % | 98% | ||
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 3,641 | $ 4,257 | $ 4,944 |
Net sales, change in % | (14.00%) | (14.00%) |
Segmentation of key figures - T
Segmentation of key figures - Top 20 (Details 9) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 50,545 | $ 51,626 | $ 48,659 |
US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 17,653 | 16,818 | 16,484 |
Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 41,296 | 41,995 | 39,013 |
Innovative Medicines | Top 20 products [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 32,137 | 32,664 | 29,916 |
Innovative Medicines | Rest of portfolio [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 9,159 | 9,331 | 9,097 |
Innovative Medicines | Promoted Brands [member] | Cardiovascular [member] | Top 20 products [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 4,644 | 3,548 | 2,497 |
Innovative Medicines | Promoted Brands [member] | Immunology [member] | Top 20 products [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 4,788 | 4,718 | 3,995 |
Innovative Medicines | Promoted Brands [member] | Immunology [member] | Top 20 products [member] | Xolair [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,365 | 1,428 | 1,251 |
Innovative Medicines | Promoted Brands [member] | Immunology [member] | Top 20 products [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,133 | 1,059 | 873 |
Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 2,013 | 2,787 | 3,003 |
Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,370 | 1,351 | 920 |
Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Kesimpta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,092 | ||
Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,770 | 1,693 | 1,542 |
Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,231 | 937 | 687 |
Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 635 | ||
Innovative Medicines | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 2,088 | 2,016 | 1,738 |
Innovative Medicines | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,923 | 2,060 | 1,958 |
Innovative Medicines | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,561 | 1,595 | 1,339 |
Innovative Medicines | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 587 | ||
Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Top 20 products [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,874 | 2,160 | 1,933 |
Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Top 20 products [member] | Ultibro Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 584 | ||
Innovative Medicines | Established Brands [member] | Hematology [member] | Top 20 products [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 536 | ||
Innovative Medicines | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,238 | 1,413 | 1,439 |
Innovative Medicines | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 859 | 1,092 | 1,199 |
Innovative Medicines | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 745 | 1,024 | 1,188 |
Innovative Medicines | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 743 | 901 | 980 |
Innovative Medicines | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 652 | 773 | 1,003 |
Innovative Medicines | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 512 | 938 | 1,083 |
Innovative Medicines | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 653 | ||
Innovative Medicines | US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 15,899 | 14,999 | 14,342 |
Innovative Medicines | US | Top 20 products [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 12,753 | 11,688 | 11,126 |
Innovative Medicines | US | Rest of portfolio [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 3,146 | 3,311 | 3,216 |
Innovative Medicines | US | Promoted Brands [member] | Cardiovascular [member] | Top 20 products [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 2,354 | 1,712 | 1,277 |
Innovative Medicines | US | Promoted Brands [member] | Immunology [member] | Top 20 products [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 2,770 | 2,883 | 2,516 |
Innovative Medicines | US | Promoted Brands [member] | Immunology [member] | Top 20 products [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 570 | 501 | 400 |
Innovative Medicines | US | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,153 | 1,427 | 1,562 |
Innovative Medicines | US | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 434 | 469 | 459 |
Innovative Medicines | US | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Kesimpta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 921 | ||
Innovative Medicines | US | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 678 | 606 | 569 |
Innovative Medicines | US | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 472 | 339 | 318 |
Innovative Medicines | US | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 259 | ||
Innovative Medicines | US | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,083 | 947 | 833 |
Innovative Medicines | US | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 877 | 882 | 859 |
Innovative Medicines | US | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 230 | ||
Innovative Medicines | US | Established Brands [member] | Hematology [member] | Top 20 products [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 196 | ||
Innovative Medicines | US | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 800 | 843 | 837 |
Innovative Medicines | US | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 205 | 263 | 315 |
Innovative Medicines | US | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 14 | 14 | 16 |
Innovative Medicines | US | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 55 | 51 | 124 |
Innovative Medicines | US | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 171 | 521 | 644 |
Innovative Medicines | US | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 138 | ||
Innovative Medicines | Rest of the world [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 25,397 | 26,996 | 24,671 |
Innovative Medicines | Rest of the world [member] | Top 20 products [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 19,384 | 20,976 | 18,790 |
Innovative Medicines | Rest of the world [member] | Rest of portfolio [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 6,013 | 6,020 | 5,881 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Cardiovascular [member] | Top 20 products [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 2,290 | 1,836 | 1,220 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Immunology [member] | Top 20 products [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 2,018 | 1,835 | 1,479 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Immunology [member] | Top 20 products [member] | Xolair [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,365 | 1,428 | 1,251 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Immunology [member] | Top 20 products [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 563 | 558 | 473 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 860 | 1,360 | 1,441 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 936 | 882 | 461 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Neuroscience [member] | Top 20 products [member] | Kesimpta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 171 | ||
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,092 | 1,087 | 973 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 759 | 598 | 369 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Solid Tumors [member] | Top 20 products [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 376 | ||
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,005 | 1,069 | 905 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,046 | 1,178 | 1,099 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,561 | 1,595 | 1,339 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Hematology [member] | Top 20 products [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 357 | ||
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Other Promoted Brands [member] | Top 20 products [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,874 | 2,160 | 1,933 |
Innovative Medicines | Rest of the world [member] | Promoted Brands [member] | Other Promoted Brands [member] | Top 20 products [member] | Ultibro Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 584 | ||
Innovative Medicines | Rest of the world [member] | Established Brands [member] | Hematology [member] | Top 20 products [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 340 | ||
Innovative Medicines | Rest of the world [member] | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 438 | 570 | 602 |
Innovative Medicines | Rest of the world [member] | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 859 | 1,092 | 1,199 |
Innovative Medicines | Rest of the world [member] | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 540 | 761 | 873 |
Innovative Medicines | Rest of the world [member] | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 729 | 887 | 964 |
Innovative Medicines | Rest of the world [member] | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 597 | 722 | 879 |
Innovative Medicines | Rest of the world [member] | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 341 | 417 | 439 |
Innovative Medicines | Rest of the world [member] | Established Brands [member] | Established Brands [member] | Top 20 products [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 515 | ||
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 31,396 | 29,754 | 25,319 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Cardiovascular [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 4,756 | 3,560 | 2,497 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Cardiovascular [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 4,644 | 3,548 | 2,497 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 7,287 | 7,205 | 6,119 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 4,788 | 4,718 | 3,995 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | Xolair [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,365 | 1,428 | 1,251 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Immunology [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,133 | 1,059 | 873 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 5,051 | 5,007 | 4,272 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 2,013 | 2,787 | 3,003 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,370 | 1,351 | 920 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Neuroscience [member] | Kesimpta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,092 | 372 | 15 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 4,723 | 4,101 | 3,666 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,770 | 1,693 | 1,542 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,231 | 937 | 687 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Solid Tumors [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 474 | 577 | 635 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 6,452 | 6,430 | 5,617 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 2,088 | 2,016 | 1,738 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,923 | 2,060 | 1,958 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,561 | 1,595 | 1,339 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 536 | 587 | 474 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Hematology [member] | Adakveo [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 194 | 164 | 105 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 3,127 | 3,451 | 3,148 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,874 | 2,160 | 1,933 |
Operating segments [member] | Innovative Medicines | Promoted Brands [member] | Other Promoted Brands [member] | Ultibro Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 479 | 584 | 623 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 9,900 | 12,241 | 13,694 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 1,238 | 1,413 | 1,439 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 859 | 1,092 | 1,199 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 745 | 1,024 | 1,188 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 743 | 901 | 980 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 652 | 773 | 1,003 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 512 | 938 | 1,083 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 323 | 563 | 653 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Zortress/Certican [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 329 | 431 | 452 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Neoral/Sandimmun(e) [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | 310 | 368 | 393 |
Operating segments [member] | Innovative Medicines | Established Brands [member] | Established Brands [member] | Voltaren/Cataflam [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 334 | $ 373 | $ 360 |
Segmentation of key figures (_9
Segmentation of key figures (Details 10) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 50,545 | $ 51,626 | $ 48,659 |
Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 6% | |
Sandoz | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 9,249 | $ 9,631 | 9,646 |
Net sales, change in % | (4.00%) | 0% | |
Sandoz | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (4.00%) | 0% | |
Sandoz | Retail Generics [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 6,776 | $ 7,092 | 7,244 |
Net sales, change in % | (4.00%) | (2.00%) | |
Sandoz | Biopharmaceuticals [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 2,093 | $ 2,116 | 1,928 |
Net sales, change in % | (1.00%) | 10% | |
Sandoz | Anti Infectives [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 380 | $ 423 | 474 |
Net sales, change in % | (10.00%) | (11.00%) | |
Sandoz | Anti Infectives [member] | Anti Infectives sold under Sandoz name [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 777 | $ 707 | 694 |
Sandoz | Anti Infectives [member] | Total anti-infectives net sales [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties | $ 1,200 | $ 1,100 | $ 1,200 |
Segmentation of key figures _10
Segmentation of key figures (Details 11) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Profit sharing income | $ 921 | $ 873 | $ 835 |
Royalty income | 52 | 109 | 300 |
Milestone income | 148 | 155 | 50 |
Other | 162 | 114 | 54 |
Other revenues | 1,283 | 1,251 | 1,239 |
Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Profit sharing income | 921 | 873 | 835 |
Royalty income | 28 | 74 | 107 |
Milestone income | 145 | 127 | 39 |
Other | 155 | 105 | 37 |
Other revenues | 1,249 | 1,179 | 1,018 |
Sandoz | |||
Disclosure of operating segments [line items] | |||
Royalty income | 18 | 24 | 25 |
Milestone income | 3 | 28 | 11 |
Other | 7 | 9 | 17 |
Other revenues | 28 | 61 | 53 |
Corporate | |||
Disclosure of operating segments [line items] | |||
Royalty income | 6 | 11 | 168 |
Other revenues | $ 6 | $ 11 | $ 168 |
Associated companies (Details)
Associated companies (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of associates [line items] | |||
Net income statement effect | $ (9) | $ 15,339 | $ 673 |
Other comprehensive income effect | 46 | (56) | |
Total comprehensive income effect | (9) | 15,385 | 617 |
Recycling of the Novartis share of other comprehensive income from associated companies | 0 | 3 | |
Roche Holding AG, Switzerland | |||
Disclosure of associates [line items] | |||
Net income statement effect | 15,341 | 677 | |
Other comprehensive income effect | 46 | (56) | |
Total comprehensive income effect | 15,387 | 621 | |
Others | |||
Disclosure of associates [line items] | |||
Net income statement effect | (9) | (2) | (4) |
Total comprehensive income effect | $ (9) | $ (2) | $ (4) |
Associated companies (Details 1
Associated companies (Details 1) - Roche Holding AG, Switzerland - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of associates [line items] | ||
Proportion of voting rights held in associate | 33.30% | 33.30% |
Proportion of ownership interest in associate | 6.20% | 6.20% |
Dividends received | $ 522 | |
Gain on divestment of interests in associated companies | 14,556 | |
Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations | $ 20,700 |
Associated companies (Details 2
Associated companies (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of associates [line items] | |||
Net income statement effect | $ (9) | $ 15,339 | $ 673 |
Cumulative currency translation effects | |||
Disclosure of associates [line items] | |||
Cumulative currency translation gains/losses recycled through income statement | $ 13 | 3,200 | 0 |
Roche Holding AG, Switzerland | |||
Disclosure of associates [line items] | |||
Novartis share of current year consolidated net income | 815 | 913 | |
Prior year adjustment | 40 | (64) | |
Amortization of fair value adjustments relating to intangible assets | (70) | (172) | |
Gain on divestment | 14,556 | ||
Net income statement effect | 15,341 | 677 | |
Amortization of fair value adjustments relating to intangible assets tax | $ 10 | $ 26 |
Interest expense and other fi_3
Interest expense and other financial income and expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest expense [abstract] | |||
Interest expense | $ (669) | $ (651) | $ (708) |
Interest expense on lease liabilities | (60) | (62) | (67) |
Expense arising from discounting long-term liabilities and capitalized borrowing costs | (108) | (98) | (94) |
Total interest expense | $ (837) | $ (811) | $ (869) |
Interest expense and other fi_4
Interest expense and other financial income and expense (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other financial income and expense [abstract] | |||
Interest income | $ 379 | $ 71 | $ 91 |
Other financial income | 19 | 12 | 18 |
Financial expense | (194) | (94) | (52) |
Currency result, net | (184) | (69) | (135) |
Total other financial income and expense | $ 20 | $ (80) | $ (78) |
Income taxes (Details)
Income taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Income before taxes | $ 8,371 | $ 26,137 | $ 9,878 |
Switzerland | |||
Statement [line items] | |||
Income before taxes | 5,986 | 22,028 | 9,786 |
Foreign | |||
Statement [line items] | |||
Income before taxes | $ 2,385 | $ 4,109 | $ 92 |
Income taxes (Details 1)
Income taxes (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Current tax expense (income) | $ (2,071) | $ (2,428) | $ (2,100) |
Deferred tax expense (income) | 655 | 309 | 293 |
Income tax expense | (1,416) | (2,119) | (1,807) |
Switzerland | |||
Statement [line items] | |||
Current tax expense (income) | (617) | (958) | (932) |
Deferred tax expense (income) | (142) | 23 | (137) |
Foreign | |||
Statement [line items] | |||
Current tax expense (income) | (1,454) | (1,470) | (1,168) |
Deferred tax expense (income) | $ 797 | $ 286 | $ 430 |
Income taxes (Details 2)
Income taxes (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Applicable tax rate | 16.80% | 14.80% | 13.60% |
Effect of disallowed expenditures | 2.60% | 1% | 4.60% |
Effect of utilization of tax losses brought forward from prior periods | 0% | 0% | (0.30%) |
Effect of income taxed at reduced rates | (0.30%) | (0.10%) | (0.30%) |
Tax rate effect of revenues exempt from taxation | (0.10%) | (7.50%) | (0.70%) |
Effect of tax credits and allowances | (3.80%) | (1.40%) | (2.30%) |
Effect of release of contingent consideration liability | (0.50%) | (0.10%) | (0.20%) |
Effect of tax rate change on current and deferred tax assets and liabilities | (0.10%) | 0% | 0.30% |
Effect of derecognition and reversals of derecognition of deferred tax assets | 1.20% | 0% | 0.20% |
Effect of write down and reversal of write down of investments in subsidiaries | 0% | 0% | (0.80%) |
Effect of prior year items | (0.40%) | 0.10% | 2.30% |
Effective income tax rate reconciliation change in uncertain tax positions | 1.40% | 1.30% | 2% |
Effect of other items | 0.10% | 0% | (0.10%) |
Effective tax rate | 16.90% | 8.10% | 18.30% |
Effect of income not subject to tax on divestment gain | (7.30%) | ||
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense | $ 1 | $ 5 | $ 29 |
Earnings per share (Details)
Earnings per share (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) $ / shares shares | |
Earnings per share [line items] | |||
Profit/loss attributable to shareholders of Novartis AG | $ | $ 6,955 | $ 24,021 | $ 8,072 |
Weighted average number of shares outstanding used in the basic earnings per share | 2,181 | 2,243 | 2,277 |
Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options | 16 | 17 | 19 |
Weighted average number of shares in diluted earnings per share | 2,197 | 2,260 | 2,296 |
Total basic earnings per share | $ / shares | $ 3.19 | $ 10.71 | $ 3.55 |
Total diluted earnings per share | $ / shares | $ 3.17 | $ 10.63 | $ 3.52 |
Options excluded from the calculation | 0 | 0 | 0 |
Changes in consolidated state_3
Changes in consolidated statements of comprehensive income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Changes in consolidated statements of comprehensive income [line items] | |||
Net investment hedge | $ 91 | $ 216 | $ (201) |
Net actuarial gains/losses from defined benefit plans, net of taxes | (103) | 1,809 | 143 |
Currency translation effects | (450) | (4,762) | 3,194 |
Income tax relating to components of other comprehensive income | (43) | (317) | |
Fair value adjustments on financial instruments [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | 188 | 220 | 120 |
Total value adjustments | (382) | 194 | 250 |
Fair value adjustments related to divestments | (62) | ||
Value adjustments on comprehensive income at end of period | (198) | 188 | 220 |
Fair value adjustments on equity securities | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Fair value adjustments on equity securities, net of taxes | (382) | 194 | 250 |
Fair value adjustments on equity securities sold, reclassified to retained earnings | (4) | (164) | (150) |
Income tax relating to components of other comprehensive income | 81 | (44) | (36) |
Fair value adjustments on equity securities sold | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Income tax relating to components of other comprehensive income | 0 | 48 | |
Value adjustments related to divestments | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Income tax relating to components of other comprehensive income | (4) | ||
Net investment hedge | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Income tax relating to components of other comprehensive income | (30) | 33 | |
Actuarial gains/losses from defined benefit plans | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (3,968) | (5,773) | (5,919) |
Net actuarial gains/losses from defined benefit plans, net of taxes | (104) | 1,808 | 145 |
Total value adjustments | (104) | 1,808 | 145 |
Fair value adjustments related to divestments | 34 | (3) | 2 |
Impact of change in ownership of consolidated entities | (1) | ||
Value adjustments on comprehensive income at end of period | (4,038) | (3,968) | (5,773) |
Income tax relating to components of other comprehensive income | (104) | (323) | (3) |
Cumulative currency translation effects | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (407) | 4,134 | 1,142 |
Net investment hedge | 91 | 216 | (201) |
Currency translation effects | (444) | (4,757) | 3,193 |
Total value adjustments | (353) | (4,541) | 2,992 |
Value adjustments on comprehensive income at end of period | (760) | (407) | 4,134 |
Income tax relating to components of other comprehensive income | 18 | 17 | 10 |
Cumulative currency translation gains/losses recycled through income statement | 13 | 3,200 | 0 |
Total value adjustments | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (4,187) | (1,419) | (4,657) |
Fair value adjustments on equity securities, net of taxes | (382) | 194 | 250 |
Net investment hedge | 91 | 216 | (201) |
Net actuarial gains/losses from defined benefit plans, net of taxes | (104) | 1,808 | 145 |
Currency translation effects | (444) | (4,757) | 3,193 |
Total value adjustments | (839) | (2,539) | 3,387 |
Fair value adjustments on equity securities sold, reclassified to retained earnings | (4) | (164) | (150) |
Fair value adjustments related to divestments | 34 | (65) | 2 |
Impact of change in ownership of consolidated entities | (1) | ||
Value adjustments on comprehensive income at end of period | (4,996) | (4,187) | (1,419) |
Non-controlling interests [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (33) | (29) | (29) |
Net actuarial gains/losses from defined benefit plans, net of taxes | 1 | 1 | (2) |
Currency translation effects | (6) | (5) | 1 |
Total value adjustments | (5) | (4) | (1) |
Impact of change in ownership of consolidated entities | 1 | ||
Value adjustments on comprehensive income at end of period | (38) | (33) | (29) |
Total fair value adjustments [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (4,220) | (1,448) | (4,686) |
Fair value adjustments on equity securities, net of taxes | (382) | 194 | 250 |
Net investment hedge | 91 | 216 | (201) |
Net actuarial gains/losses from defined benefit plans, net of taxes | (103) | 1,809 | 143 |
Currency translation effects | (450) | (4,762) | 3,194 |
Total value adjustments | (844) | (2,543) | 3,386 |
Fair value adjustments on equity securities sold, reclassified to retained earnings | (4) | (164) | (150) |
Fair value adjustments related to divestments | 34 | (65) | 2 |
Value adjustments on comprehensive income at end of period | $ (5,034) | $ (4,220) | $ (1,448) |
Property, plant and equipment_2
Property, plant and equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | $ 11,545 | $ 12,263 | |
Impact of business combinations | 13 | ||
Additions | 1,219 | 1,430 | |
Disposals and derecognitions | (155) | (150) | |
Depreciation charge | (1,163) | (1,208) | |
Impairment loss recognised in profit or loss, property, plant and equipment | (414) | (384) | $ (447) |
Reversal of impairment charge | 7 | 103 | 7 |
Currency translation effects | (288) | (509) | |
Property, plant and equipment at end of period | 10,764 | 11,545 | 12,263 |
Commitments for purchases of property, plant and equipment | 549 | 204 | |
Capitalized borrowing costs | 5 | 4 | |
Gross carrying amount | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 27,147 | 28,218 | |
Property, plant and equipment at end of period | 24,873 | 27,147 | 28,218 |
Accumulated depreciation, amortisation and impairment | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | (15,602) | (15,955) | |
Property, plant and equipment at end of period | (14,109) | (15,602) | (15,955) |
Land | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 485 | 536 | |
Additions | 3 | 1 | |
Disposals and derecognitions | (28) | (30) | |
Impairment loss recognised in profit or loss, property, plant and equipment | (7) | (4) | |
Reversal of impairment charge | 1 | 5 | |
Currency translation effects | (12) | (23) | |
Property, plant and equipment at end of period | 442 | 485 | 536 |
Land | Gross carrying amount | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 492 | 555 | |
Property, plant and equipment at end of period | 451 | 492 | 555 |
Land | Accumulated depreciation, amortisation and impairment | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | (7) | (19) | |
Property, plant and equipment at end of period | (9) | (7) | (19) |
Buildings | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 6,075 | 6,570 | |
Reclassifications | 297 | 197 | |
Additions | 124 | 109 | |
Disposals and derecognitions | (49) | (78) | |
Depreciation charge | (437) | (453) | |
Impairment loss recognised in profit or loss, property, plant and equipment | (351) | (137) | |
Reversal of impairment charge | 70 | ||
Currency translation effects | (166) | (203) | |
Property, plant and equipment at end of period | 5,493 | 6,075 | 6,570 |
Buildings | Gross carrying amount | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 11,819 | 12,377 | |
Property, plant and equipment at end of period | 11,396 | 11,819 | 12,377 |
Buildings | Accumulated depreciation, amortisation and impairment | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | (5,744) | (5,807) | |
Property, plant and equipment at end of period | (5,903) | (5,744) | (5,807) |
Construction in progress | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 1,443 | 1,182 | |
Reclassifications | (964) | (610) | |
Additions | 780 | 1,027 | |
Disposals and derecognitions | (33) | (12) | |
Impairment loss recognised in profit or loss, property, plant and equipment | (13) | (76) | |
Reversal of impairment charge | 1 | 16 | |
Currency translation effects | (57) | (84) | |
Property, plant and equipment at end of period | 1,157 | 1,443 | 1,182 |
Construction in progress | Gross carrying amount | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 1,508 | 1,248 | |
Property, plant and equipment at end of period | 1,184 | 1,508 | 1,248 |
Construction in progress | Accumulated depreciation, amortisation and impairment | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | (65) | (66) | |
Property, plant and equipment at end of period | (27) | (65) | (66) |
Machinery and other equipment | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 3,542 | 3,975 | |
Impact of business combinations | 13 | ||
Reclassifications | 667 | 413 | |
Additions | 312 | 293 | |
Disposals and derecognitions | (45) | (30) | |
Depreciation charge | (726) | (755) | |
Impairment loss recognised in profit or loss, property, plant and equipment | (43) | (167) | |
Reversal of impairment charge | 5 | 12 | |
Currency translation effects | (53) | (199) | |
Property, plant and equipment at end of period | 3,672 | 3,542 | 3,975 |
Machinery and other equipment | Gross carrying amount | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | 13,328 | 14,038 | |
Property, plant and equipment at end of period | 11,842 | 13,328 | 14,038 |
Machinery and other equipment | Accumulated depreciation, amortisation and impairment | |||
Movements of property, plant and equipment [roll forward] | |||
Property, plant and equipment at beginning of period | (9,786) | (10,063) | |
Property, plant and equipment at end of period | $ (8,170) | $ (9,786) | $ (10,063) |
Property, plant and equipment_3
Property, plant and equipment (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss recognised in profit or loss, property, plant and equipment | $ (414) | $ (384) | $ (447) |
Reversal of impairment charge | 7 | 103 | 7 |
Innovative Medicines | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss recognised in profit or loss, property, plant and equipment | (411) | (315) | (326) |
Reversal of impairment charge | 4 | 44 | 2 |
Sandoz | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss recognised in profit or loss, property, plant and equipment | (3) | (68) | (121) |
Reversal of impairment charge | $ 3 | 59 | $ 5 |
Corporate | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment loss recognised in profit or loss, property, plant and equipment | $ (1) |
Lease liability and Right-of-us
Lease liability and Right-of-use assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Movements of the right-of-use assets [roll forward] | ||
Right-of-use assets at beginning of period | $ 1,561 | $ 1,676 |
Impact of business combinations | 12 | |
Additions to right-of-use assets | 247 | 321 |
Depreciation charge | (300) | (318) |
Lease contract terminations, right-of-use assets | (34) | (66) |
Impairment loss recognised in profit or loss, right of use assets | (3) | |
Increase decrease through net exchange differences, right-of-use assets | (52) | (52) |
Right-of-use assets at end of period | $ 1,431 | $ 1,561 |
Lease liability and Right-of-_2
Lease liability and Right-of-use assets (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | $ 1,431 | $ 1,561 | $ 1,676 |
Depreciation charge | (300) | (318) | |
Land [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | 505 | 522 | |
Depreciation charge | (16) | (11) | |
Buildings [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | 745 | 866 | |
Depreciation charge | (177) | (192) | |
Vehicles [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | 117 | 136 | |
Depreciation charge | (96) | (105) | |
Machinery & equipment and other assets | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | 64 | 37 | |
Depreciation charge | $ (11) | $ (10) |
Lease liability and Right-of-_3
Lease liability and Right-of-use assets (Details 2) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of maturity analysis of total lease liabilities [line items] | ||
Lease liabilities | $ 1,789 | $ 1,896 |
Lease liabilities undiscounted | 3,205 | 3,349 |
Less current lease liabilities | (251) | (275) |
Less current lease liabilities undiscounted | (297) | (324) |
Non-current lease liabilities | 1,538 | 1,621 |
Non-current lease liabilities undiscounted | 2,908 | 3,025 |
Commitments for leases not yet commenced | 83 | 134 |
Most material lease with lease term extension | $ 700 | $ 600 |
Lease term end date | 2071 | 2071 |
Not later than one year [member] | ||
Disclosure of maturity analysis of total lease liabilities [line items] | ||
Lease liabilities | $ 251 | $ 275 |
Lease liabilities undiscounted | 297 | 324 |
Later than one year and not later than two years [member] | ||
Disclosure of maturity analysis of total lease liabilities [line items] | ||
Lease liabilities | 190 | 216 |
Lease liabilities undiscounted | 232 | 258 |
Later than two years and not later than three years [member] | ||
Disclosure of maturity analysis of total lease liabilities [line items] | ||
Lease liabilities | 167 | 162 |
Lease liabilities undiscounted | 201 | 198 |
Later than three years and not later than four years [member] | ||
Disclosure of maturity analysis of total lease liabilities [line items] | ||
Lease liabilities | 137 | 139 |
Lease liabilities undiscounted | 172 | 172 |
Later than four years and not later than five years [member] | ||
Disclosure of maturity analysis of total lease liabilities [line items] | ||
Lease liabilities | 122 | 122 |
Lease liabilities undiscounted | 154 | 154 |
Later than five years [member] | ||
Disclosure of maturity analysis of total lease liabilities [line items] | ||
Lease liabilities | 922 | 982 |
Lease liabilities undiscounted | $ 2,149 | $ 2,243 |
Lease liability and Right-of-_4
Lease liability and Right-of-use assets (Details 3) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Lease liabilities | $ 1,789 | $ 1,896 | |
Right-of-use assets | 1,431 | $ 1,561 | $ 1,676 |
Sale and lease back [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Cash inflow for sale and leaseback | (49) | ||
Lease liabilities | 23 | ||
Right-of-use assets | 13 | ||
Gains or losses from sales leaseback | $ 17 |
Lease liability and Right-of-_5
Lease liability and Right-of-use assets (Details 4) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Interest expense on lease liabilities | $ 60 | $ 62 | $ 67 |
Expense relating to short-term leases for which recognition exemption has been used | 3 | 6 | 4 |
Expense relating to leases of low-value assets for which recognition exemption has been used | 6 | 7 | 7 |
Cash outflow | 355 | 381 | 379 |
Cash outflows for short term and low value leases | 9 | 13 | 11 |
Cash outflows for payments of leases interest | 51 | 52 | 56 |
Repayment of lease liability | $ 295 | $ 316 | $ 312 |
Weighted average interest rate lease liabilities | 3.30% | 3.20% | 3.40% |
Goodwill and intangible asset_2
Goodwill and intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | $ 63,777 | ||
Additions | 2,093 | $ 1,736 | |
Intangible assets and goodwill at end of period | 60,945 | 63,777 | |
Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 29,595 | 29,999 | |
Impact of business combinations | 161 | 238 | |
Disposals and derecognitions | (28) | ||
Currency translation effects | (427) | (642) | |
Intangible assets and goodwill at end of period | 29,301 | 29,595 | $ 29,999 |
Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 34,182 | 36,809 | |
Impact of business combinations | 1,209 | 652 | |
Additions | 2,093 | 1,736 | |
Disposals and derecognitions | (100) | (37) | |
Amortization charge | (3,982) | (3,903) | |
Impairment charge | (1,326) | (403) | (914) |
Currency translation effects | (432) | (672) | |
Intangible assets and goodwill at end of period | 31,644 | 34,182 | 36,809 |
Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 5,499 | 4,700 | |
Impact of business combinations | 1,209 | 262 | |
Reclassifications | (1,429) | (20) | |
Additions | 330 | 958 | |
Disposals and derecognitions | (95) | ||
Impairment charge | (917) | (350) | |
Currency translation effects | (176) | (51) | |
Intangible assets and goodwill at end of period | 4,421 | 5,499 | 4,700 |
Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 177 | 230 | |
Reclassifications | 2 | 15 | |
Amortization charge | (37) | (41) | |
Impairment charge | (15) | (17) | |
Currency translation effects | (6) | (10) | |
Intangible assets and goodwill at end of period | 121 | 177 | 230 |
Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 27,106 | 30,767 | |
Impact of business combinations | 292 | ||
Reclassifications | 1,403 | 5 | |
Additions | 1,175 | 270 | |
Disposals and derecognitions | (3) | (36) | |
Amortization charge | (3,603) | (3,607) | |
Impairment charge | (322) | (1) | |
Currency translation effects | (243) | (584) | |
Intangible assets and goodwill at end of period | 25,513 | 27,106 | 30,767 |
Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 1,400 | 1,112 | |
Impact of business combinations | 98 | ||
Reclassifications | 24 | ||
Additions | 588 | 508 | |
Disposals and derecognitions | (2) | (1) | |
Amortization charge | (342) | (255) | |
Impairment charge | (72) | (35) | |
Currency translation effects | (7) | (27) | |
Intangible assets and goodwill at end of period | 1,589 | 1,400 | 1,112 |
Gross carrying amount | Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 29,900 | 30,321 | |
Intangible assets and goodwill at end of period | 29,596 | 29,900 | 30,321 |
Gross carrying amount | Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 68,211 | 67,725 | |
Intangible assets and goodwill at end of period | 69,684 | 68,211 | 67,725 |
Gross carrying amount | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 8,013 | 6,893 | |
Intangible assets and goodwill at end of period | 7,092 | 8,013 | 6,893 |
Gross carrying amount | Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 1,080 | 1,115 | |
Intangible assets and goodwill at end of period | 1,038 | 1,080 | 1,115 |
Gross carrying amount | Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 56,213 | 57,333 | |
Intangible assets and goodwill at end of period | 58,249 | 56,213 | 57,333 |
Gross carrying amount | Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 2,905 | 2,384 | |
Intangible assets and goodwill at end of period | 3,305 | 2,905 | 2,384 |
Accumulated depreciation, amortisation and impairment | Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (305) | (322) | |
Intangible assets and goodwill at end of period | (295) | (305) | (322) |
Accumulated depreciation, amortisation and impairment | Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (34,029) | (30,916) | |
Intangible assets and goodwill at end of period | (38,040) | (34,029) | (30,916) |
Accumulated depreciation, amortisation and impairment | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (2,514) | (2,193) | |
Intangible assets and goodwill at end of period | (2,671) | (2,514) | (2,193) |
Accumulated depreciation, amortisation and impairment | Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (903) | (885) | |
Intangible assets and goodwill at end of period | (917) | (903) | (885) |
Accumulated depreciation, amortisation and impairment | Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (29,107) | (26,566) | |
Intangible assets and goodwill at end of period | (32,736) | (29,107) | (26,566) |
Accumulated depreciation, amortisation and impairment | Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (1,505) | (1,272) | |
Intangible assets and goodwill at end of period | $ (1,716) | $ (1,505) | $ (1,272) |
Goodwill and intangible asset_3
Goodwill and intangible assets (Details 1) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | $ 60,945 | $ 63,777 | |
Operating segments [member] | Innovative Medicines | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 51,357 | 53,919 | |
Operating segments [member] | Sandoz | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 9,230 | 9,603 | |
Operating segments [member] | Corporate | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 358 | 255 | |
Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 29,301 | 29,595 | $ 29,999 |
Goodwill | Operating segments [member] | Innovative Medicines | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 21,531 | 21,562 | |
Goodwill | Operating segments [member] | Sandoz | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 7,770 | 8,026 | |
Goodwill | Operating segments [member] | Corporate | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 7 | ||
Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 31,644 | 34,182 | 36,809 |
Intangible Assets other than Goodwill | Operating segments [member] | Innovative Medicines | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 29,826 | 32,357 | |
Intangible Assets other than Goodwill | Operating segments [member] | Sandoz | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 1,460 | 1,577 | |
Intangible Assets other than Goodwill | Operating segments [member] | Corporate | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 358 | 248 | |
Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 4,421 | 5,499 | 4,700 |
Acquired research and development [member] | Operating segments [member] | Innovative Medicines | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 4,186 | 5,313 | |
Acquired research and development [member] | Operating segments [member] | Sandoz | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 235 | 186 | |
Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 121 | 177 | 230 |
Technologies | Operating segments [member] | Innovative Medicines | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 14 | 15 | |
Technologies | Operating segments [member] | Sandoz | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 107 | 162 | |
Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 25,513 | 27,106 | 30,767 |
Currently marketed products | Operating segments [member] | Innovative Medicines | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 24,487 | 25,938 | |
Currently marketed products | Operating segments [member] | Sandoz | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 1,026 | 1,168 | |
Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 1,589 | 1,400 | $ 1,112 |
Other intangible assets | Operating segments [member] | Innovative Medicines | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 1,139 | 1,091 | |
Other intangible assets | Operating segments [member] | Sandoz | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | 92 | 61 | |
Other intangible assets | Operating segments [member] | Corporate | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net book value | $ 358 | $ 248 |
Goodwill and intangible asset_4
Goodwill and intangible assets (Details 2) - Operating segments [member] | Dec. 31, 2022 |
Innovative Medicines | |
Disclosure of detailed information about intangible assets [line items] | |
Terminal Growth Rate | 1.50% |
Discount Rate (post-tax) | 8% |
Sandoz | |
Disclosure of detailed information about intangible assets [line items] | |
Terminal Growth Rate | 1% |
Discount Rate (post-tax) | 8% |
Goodwill and intangible asset_5
Goodwill and intangible assets (Details 3) - USD ($) $ in Billions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Leqvio [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Carrying value | $ 7.4 | $ 7.9 |
Remaining amortisation period | 13 years | 14 years |
Zolgensma [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Carrying value | $ 5.9 | $ 6.6 |
Remaining amortisation period | 8 years | 9 years |
Goodwill and intangible asset_6
Goodwill and intangible assets (Details 4) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | $ (1,326) | $ (403) | $ (914) |
Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (917) | (350) | |
Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (15) | (17) | |
Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (322) | (1) | |
Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (72) | (35) | |
Innovative Medicines | Votrient [member] | Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (900) | (1,300) | |
Operating segments [member] | Innovative Medicines | Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (1,299) | (367) | (768) |
Operating segments [member] | Sandoz | Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (25) | (28) | (141) |
Operating segments [member] | Corporate | Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (2) | (8) | (5) |
Accumulated depreciation, amortisation and impairment | Innovative Medicines | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | $ (0.6) | $ (0.2) | (0.5) |
Accumulated depreciation, amortisation and impairment | Innovative Medicines | Votrient [member] | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | $ (0.2) |
Deferred tax assets and liabi_3
Deferred tax assets and liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Gross deferred tax assets | $ 8,051 | $ 7,832 | $ 8,344 |
Deferred tax assets | 3,739 | 3,743 | |
Gross deferred tax liabilities | (6,998) | (7,159) | (7,552) |
Deferred tax liabilities | (2,686) | (3,070) | |
Net deferred tax balance | 1,053 | 673 | 792 |
Movement in deferred tax balance [roll forward] | |||
Net deferred tax balance at beginning of period | 673 | 792 | |
Credited/(charged) to income | 655 | 309 | |
Charged to equity | 1 | (35) | |
Credited/(charged) to other comprehensive income | (43) | (317) | |
Impact of business combinations | (244) | (46) | |
Other movements | 11 | (30) | |
Net deferred tax balance at end of period | 1,053 | 673 | 792 |
Offsetting of deferred tax assets and liabilities within the same tax jurisdiction | 4,312 | 4,089 | |
Deferred tax assets | 3,739 | 3,743 | |
Deferred tax liabilities | (2,686) | (3,070) | |
Property, plant and equipment [member] | |||
Statement [line items] | |||
Gross deferred tax assets | 158 | 125 | 189 |
Gross deferred tax liabilities | (343) | (381) | (430) |
Net deferred tax balance | (185) | (256) | (241) |
Movement in deferred tax balance [roll forward] | |||
Net deferred tax balance at beginning of period | (256) | (241) | |
Credited/(charged) to income | 69 | (27) | |
Credited/(charged) to other comprehensive income | (2) | ||
Other movements | 4 | 12 | |
Net deferred tax balance at end of period | (185) | (256) | (241) |
Intangible assets [member] | |||
Statement [line items] | |||
Gross deferred tax assets | 1,726 | 1,307 | 1,351 |
Gross deferred tax liabilities | (4,785) | (4,704) | (5,269) |
Net deferred tax balance | (3,059) | (3,397) | (3,918) |
Movement in deferred tax balance [roll forward] | |||
Net deferred tax balance at beginning of period | (3,397) | (3,918) | |
Credited/(charged) to income | 628 | 567 | |
Impact of business combinations | (300) | (58) | |
Other movements | 10 | 12 | |
Net deferred tax balance at end of period | (3,059) | (3,397) | (3,918) |
Pensions and other benefit obligations of associates [member] | |||
Statement [line items] | |||
Gross deferred tax assets | 739 | 1,026 | 1,137 |
Gross deferred tax liabilities | (420) | (591) | (340) |
Net deferred tax balance | 319 | 435 | 797 |
Movement in deferred tax balance [roll forward] | |||
Net deferred tax balance at beginning of period | 435 | 797 | |
Credited/(charged) to income | (5) | (22) | |
Credited/(charged) to other comprehensive income | (104) | (323) | |
Other movements | (7) | (17) | |
Net deferred tax balance at end of period | 319 | 435 | 797 |
Inventories [member] | |||
Statement [line items] | |||
Gross deferred tax assets | 2,214 | 2,273 | 2,502 |
Gross deferred tax liabilities | (138) | (148) | (159) |
Net deferred tax balance | 2,076 | 2,125 | 2,343 |
Movement in deferred tax balance [roll forward] | |||
Net deferred tax balance at beginning of period | 2,125 | 2,343 | |
Credited/(charged) to income | (43) | (215) | |
Other movements | (6) | (3) | |
Net deferred tax balance at end of period | 2,076 | 2,125 | 2,343 |
Tax loss carryforwards [member] | |||
Statement [line items] | |||
Gross deferred tax assets | 425 | 374 | 507 |
Gross deferred tax liabilities | (10) | ||
Net deferred tax balance | 425 | 374 | 497 |
Movement in deferred tax balance [roll forward] | |||
Net deferred tax balance at beginning of period | 374 | 497 | |
Credited/(charged) to income | 5 | (121) | |
Impact of business combinations | 55 | 12 | |
Other movements | (9) | (14) | |
Net deferred tax balance at end of period | 425 | 374 | 497 |
Other assets, provisions and accruals [member] | |||
Statement [line items] | |||
Gross deferred tax assets | 2,789 | 2,727 | 2,658 |
Gross deferred tax liabilities | (1,312) | (1,335) | (1,344) |
Net deferred tax balance | 1,477 | 1,392 | 1,314 |
Movement in deferred tax balance [roll forward] | |||
Net deferred tax balance at beginning of period | 1,392 | 1,314 | |
Credited/(charged) to income | 1 | 127 | |
Charged to equity | 1 | (35) | |
Credited/(charged) to other comprehensive income | 63 | 6 | |
Impact of business combinations | 1 | ||
Other movements | 19 | (20) | |
Net deferred tax balance at end of period | $ 1,477 | $ 1,392 | $ 1,314 |
Deferred tax assets and liabi_4
Deferred tax assets and liabilities (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | $ 8,140 | $ 6,799 | |
Tax loss carryforwards expired | 6 | 18 | $ 14 |
One year [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 18 | 19 | |
Two years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 42 | 20 | |
Three years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 30 | 47 | |
Four years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 138 | 37 | |
Five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 767 | 166 | |
More than five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 6,260 | 5,408 | |
Not subject to expiry [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 885 | 1,102 | |
Capitalized [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 3,530 | 2,607 | |
Capitalized [member] | One year [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 0 | 4 | |
Capitalized [member] | Two years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 5 | 6 | |
Capitalized [member] | Three years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 5 | 10 | |
Capitalized [member] | Four years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 0 | 11 | |
Capitalized [member] | Five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 688 | 20 | |
Capitalized [member] | More than five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 2,380 | 1,872 | |
Capitalized [member] | Not subject to expiry [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 452 | 684 | |
Not capitalized [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 4,610 | 4,192 | |
Not capitalized [member] | One year [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 18 | 15 | |
Not capitalized [member] | Two years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 37 | 14 | |
Not capitalized [member] | Three years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 25 | 37 | |
Not capitalized [member] | Four years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 138 | 26 | |
Not capitalized [member] | Five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 79 | 146 | |
Not capitalized [member] | More than five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 3,880 | 3,536 | |
Not capitalized [member] | Not subject to expiry [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | $ 433 | $ 418 |
Deferred tax assets and liabi_5
Deferred tax assets and liabilities (Details 2) - USD ($) $ in Billions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statement [line items] | ||
Unremitted earnings retained by consolidated entities for reinvestment | $ 32 | $ 29 |
Financial and other non-curre_3
Financial and other non-current assets (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of financial assets [abstract] | ||
Non-current financial assets, equity securities | $ 1,145 | $ 1,663 |
Non-current financial asstets debt securities | 37 | 34 |
Non-current financial assets, fund investments | 281 | 366 |
Non-current financial assets, total financial investments | 1,463 | 2,063 |
Long term receivables from finance subleases | 59 | 70 |
Other long-term receivables | 197 | 184 |
Contingent consideration receivables | 607 | 641 |
Long-term loans, advances and security deposits | 85 | 78 |
Total financial assets | $ 2,411 | $ 3,036 |
Financial and other non-curre_4
Financial and other non-current assets (Details 1) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of other non-current assets [abstract] | ||
Deferred compensation plans assets | $ 419 | $ 520 |
Prepaid post-employment benefit plans assets | 491 | 1,415 |
Other non-current assets | 200 | 275 |
Total other non-current assets | $ 1,110 | $ 2,210 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Inventory | |||
Inventory | $ 7,175 | $ 6,666 | |
Amount of inventory recognized as expense | (8,600) | (8,800) | $ (8,500) |
Inventory provisions | (633) | (573) | (702) |
Reversals of inventory provisions | 161 | 158 | $ 255 |
Raw material, consumables | |||
Inventory | |||
Inventory | 934 | 870 | |
Work in progress | |||
Inventory | |||
Inventory | 3,673 | 3,160 | |
Finished products | |||
Inventory | |||
Inventory | $ 2,568 | $ 2,636 |
Trade receivables (Details)
Trade receivables (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of provision matrix [line items] | ||||
Total trade receivables, net | $ 8,066 | $ 8,005 | ||
Trade receivables [member] | ||||
Disclosure of provision matrix [line items] | ||||
Total trade receivables, net | 8,066 | 8,005 | ||
Trade receivables [member] | Gross carrying amount [member] | ||||
Disclosure of provision matrix [line items] | ||||
Total trade receivables, net | 8,128 | 8,088 | ||
Trade receivables [member] | Provision for doubtful receivable [member] | ||||
Disclosure of provision matrix [line items] | ||||
Provision for doubtful receivable | $ (62) | $ (83) | $ (93) | $ (95) |
Trade receivables (Details 1)
Trade receivables (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of provision matrix [line items] | |||
Utilization of provisions for doubtful trade receivables | $ 22,261 | $ 19,838 | $ 19,294 |
Trade receivables [member] | Provision for doubtful receivable [member] | |||
Disclosure of provision matrix [line items] | |||
Provision for doubtful receivable at beginning of period | (83) | (93) | (95) |
Provisions for doubtful trade receivables charged to the consolidated income statement | (47) | (39) | (59) |
Utilization of provisions for doubtful trade receivables | 9 | 9 | 13 |
Reversal of provisions for doubtful trade receivables | 56 | 34 | 53 |
Currency translation effects | 3 | 6 | (5) |
Provision for doubtful receivable at end of period | $ (62) | $ (83) | $ (93) |
Trade receivables (Details 2)
Trade receivables (Details 2) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Analysis of overdue amounts [line items] | ||||
Total trade receivables, net | $ 8,066 | $ 8,005 | ||
Trade receivables [member] | ||||
Analysis of overdue amounts [line items] | ||||
Total trade receivables, net | 8,066 | 8,005 | ||
Trade receivables [member] | Current [member] | ||||
Analysis of overdue amounts [line items] | ||||
Total trade receivables, net | 7,664 | 7,639 | ||
Trade receivables [member] | Not later than one month [member] | ||||
Analysis of overdue amounts [line items] | ||||
Total trade receivables, net | 190 | 162 | ||
Trade receivables [member] | Later than one month and not later than three months [member] | ||||
Analysis of overdue amounts [line items] | ||||
Total trade receivables, net | 110 | 99 | ||
Trade receivables [member] | Later than three months and not later than six months [member] | ||||
Analysis of overdue amounts [line items] | ||||
Total trade receivables, net | 62 | 63 | ||
Trade receivables [member] | Later than six months and not later than one year [member] | ||||
Analysis of overdue amounts [line items] | ||||
Total trade receivables, net | 23 | 28 | ||
Trade receivables [member] | Later than one year [member] | ||||
Analysis of overdue amounts [line items] | ||||
Total trade receivables, net | 79 | 97 | ||
Trade receivables [member] | Provision for doubtful receivable [member] | ||||
Analysis of overdue amounts [line items] | ||||
Provision for doubtful receivable | $ (62) | $ (83) | $ (93) | $ (95) |
Trade receivables (Details 3)
Trade receivables (Details 3) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | $ 8,066 | $ 8,005 |
Trade receivables [member] | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 8,066 | 8,005 |
Trade receivables [member] | USD | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 3,709 | 3,344 |
Trade receivables [member] | EUR | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 1,426 | 1,408 |
Trade receivables [member] | RUB | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 430 | 473 |
Trade receivables [member] | JPY | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 177 | 383 |
Trade receivables [member] | GBP | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 176 | 200 |
Trade receivables [member] | CNY | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 155 | 197 |
Trade receivables [member] | CAD | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 151 | 139 |
Trade receivables [member] | BRL | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 145 | 129 |
Trade receivables [member] | AUD | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 137 | 139 |
Trade receivables [member] | CHF | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 108 | 106 |
Trade receivables [member] | Others | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | $ 1,452 | $ 1,487 |
Marketable securities, commod_3
Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of marketable securities commodities deposits derivative instruments and cash [abstract] | ||
Commodities | $ 111 | $ 111 |
Debt securities | 9 | 2,741 |
Time deposits and short-term investments with original maturity more than 90 days | 11,089 | 12,965 |
Derivative financial instruments | 204 | 105 |
Total marketable securities, commodities, time deposits and derivative financial instruments | $ 11,413 | $ 15,922 |
Marketable securities, commod_4
Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Details 1) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents [abstract] | ||||
Current accounts | $ 2,877 | $ 3,396 | ||
Time deposits and short term investments with original maturity less than 90 days | 4,640 | 9,011 | ||
Total cash and cash equivalents | $ 7,517 | $ 12,407 | $ 9,658 | $ 11,112 |
Other current assets (Details)
Other current assets (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Other current assets [abstract] | ||
VAT Receivable | $ 509 | $ 487 |
Withholding tax recoverable | 50 | 58 |
Prepaid expenses - third party | 911 | 1,102 |
Contingent consideration receivable | 43 | |
Other receivables and current assets | 958 | 793 |
Total other current assets | $ 2,471 | $ 2,440 |
Equity (Details)
Equity (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2022 SFr / shares | |
Disclosure of classes of share capital [line items] | ||||
Share capital at beginning of period | $ 901 | $ 913 | $ 936 | |
Treasury shares at beginning of period | (48) | (53) | (80) | |
Total outstanding share capital at beginning of period | 853 | 860 | 856 | |
Share capital movement of period | (11) | (12) | (23) | |
Treasury shares movement of period | (44) | 5 | 27 | |
Total shares outstanding movement of period | (55) | (7) | 4 | |
Share capital at end of period | 890 | 901 | 913 | |
Treasury shares at end of period | (92) | (48) | (53) | |
Total outstanding share capital at end of period | $ 798 | $ 853 | $ 860 | |
Par value per share | SFr / shares | SFr 0.50 |
Equity (Details 1)
Equity (Details 1) - CHF (SFr) shares in Millions, SFr in Billions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding at beginning of period | 2,234.9 | 2,256.8 | 2,265 |
Treasury shares acquired to be cancelled | (126.2) | (30.7) | (32.6) |
Other share purchases | (1.4) | (1.5) | (1.7) |
Exercise of options and employee transactions shares | 1.9 | 0.6 | 14.7 |
Equity based compensation shares | 10.4 | 9.6 | 11 |
Shares delivered to divested business employees | 0 | 0.1 | 0.4 |
Total movements | (115.3) | (21.9) | (8.2) |
Number of shares outstanding at end of period | 2,119.6 | 2,234.9 | 2,256.8 |
Shares repurchased on the SIX Swiss Exchange second trading line under the share buyback authority approved | SFr 10 | SFr 10 | SFr 10 |
Total Novartis shares | |||
Disclosure of classes of share capital [line items] | |||
Number of shares issued at beginning of period | 2,434.4 | 2,467 | 2,527.3 |
Shares cancelled for capital reduction | (30.7) | (32.6) | (60.3) |
Total movements | (30.7) | (32.6) | (60.3) |
Number of shares issued at end of period | 2,403.7 | 2,434.4 | 2,467 |
Total treasury shares | |||
Disclosure of classes of share capital [line items] | |||
Number of treasury shares at beginning of period | (199.5) | (210.2) | (262.3) |
Shares cancelled for capital reduction | 30.7 | 32.6 | 60.3 |
Treasury shares acquired to be cancelled | (126.2) | (30.7) | (32.6) |
Other share purchases | (1.4) | (1.5) | (1.7) |
Exercise of options and employee transactions shares | 1.9 | 0.6 | 14.7 |
Equity based compensation shares | 10.4 | 9.6 | 11 |
Shares delivered to divested business employees | 0 | 0.1 | 0.4 |
Total movements | (84.6) | 10.7 | 52.1 |
Number of treasury shares at end of period | (284.1) | (199.5) | (210.2) |
Treasury shares with restricted use | 99 | 102.5 | 103 |
Equity (Details 2)
Equity (Details 2) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2022 SFr / shares | Dec. 31, 2021 SFr / shares | Dec. 31, 2020 SFr / shares | |
Statement of changes in equity [abstract] | ||||||
Dividends payable, amount per share | SFr / shares | SFr 3.10 | SFr 3 | SFr 2.95 | |||
Dividends recognised as distributions to owners | $ | $ 7,506 | $ 7,368 | $ 6,987 |
Equity (Details 3)
Equity (Details 3) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of changes in equity [abstract] | |||
Treasury shares acquired to be cancelled | (126.2) | (30.7) | (32.6) |
Shares acquired for cancellation, equity impact | $ (10,787) | $ (2,775) | $ (2,897) |
Other share purchases | (1.4) | (1.5) | (1.7) |
Other share purchases, equity impact | $ (123) | $ (145) | $ (159) |
Purchase of treasury shares | (127.6) | (32.2) | (34.3) |
Purchase of treasury shares, equity impact | $ (10,910) | $ (2,920) | $ (3,056) |
Exercise of options and employee transactions shares | 1.9 | 0.6 | 14.7 |
Exercise of options and employee transactions, equity impact | $ 88 | $ 39 | $ 806 |
Equity based compensation shares | 10.4 | 9.6 | 11 |
Equity-based compensation, equity impact | $ 854 | $ 745 | $ 730 |
Shares delivered to divested business employees | 0 | 0.1 | 0.4 |
Shares delivered to divested business employees, equity impact | $ 5 | $ 17 | $ 30 |
Total number of outstanding treasury shares | (115.3) | (21.9) | (8.2) |
Total equity impact of treasury share movements | $ (9,963) | $ (2,119) | $ (1,490) |
Equity (Details 4)
Equity (Details 4) $ / shares in Units, Pure in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 USD ($) year $ / shares | Dec. 31, 2020 USD ($) year $ / shares | Dec. 31, 2022 year $ / shares | |
Statement of changes in equity [abstract] | |||
Commitment for repurchase own shares | $ | $ 2,809 | $ 1,800 | |
Maximal amount of share buyback programm | $ | $ 15,000 | $ 2,500 | |
Written call options held by market maker | 3 | 1 | 3 |
Written call options, contractual live | year | 10 | ||
Written call options, contractual live, remaining | year | 2 | 3 | 1 |
Written call options, weighted average exercise price | $ / shares | $ 61.45 | $ 60.09 | $ 66.07 |
Number of options repurchased | (3.7) |
Non-current financial debt (Det
Non-current financial debt (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of components of non-current financial debts [abstract] | ||
Straight bonds | $ 22,341 | $ 25,296 |
Liabilities to banks and other institutions | 144 | 227 |
Total including current portion of non-current financial debt | 22,485 | 25,523 |
Less current portion of non-current financial debt | (2,241) | (2,621) |
Total non-current financial debts | $ 20,244 | $ 22,902 |
Average interest rate on loans received | 2.30% | 0.90% |
Ratio fixed rate financial debt to total financial debt | 86% | 87% |
Average interest rate on borrowings | 2.40% | 1.90% |
Non-current financial debt (D_2
Non-current financial debt (Details 1) € in Millions, SFr in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2022 CHF (SFr) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 | |
Disclosure of detailed information about borrowings [line items] | |||||
Straight bonds | $ 22,341 | $ 25,296 | |||
2.4% USD 1 500 million bond 2012/2022 of Novartis Capital Corporation, New York United States, issued at 99.225% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 2.40% | 2.40% | 2.40% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,500 | ||||
Borrowings, issuance year | 2012 | ||||
Borrowings, maturity year | 2022 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.225% | ||||
Straight bonds | 1,498 | ||||
3.7% USD 500 million bond 2012/2042 of Novartis Capital Corporation, New York United States, issued at 98.325% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 3.70% | 3.70% | 3.70% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 500 | ||||
Borrowings, issuance year | 2012 | ||||
Borrowings, maturity year | 2042 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 98.325% | ||||
Straight bonds | $ 490 | 490 | |||
3.4% USD 2 150 million bond 2014/2024 of Novartis Capital Corporation, New York United States, issued at 99.287% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 3.40% | 3.40% | 3.40% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 2,150 | ||||
Borrowings, issuance year | 2014 | ||||
Borrowings, maturity year | 2024 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.287% | ||||
Straight bonds | $ 2,147 | 2,144 | |||
4.4% USD 1 850 million bond 2014/2044 of Novartis Capital Corporation, New York United States, issued at 99.196% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 4.40% | 4.40% | 4.40% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,850 | ||||
Borrowings, issuance year | 2014 | ||||
Borrowings, maturity year | 2044 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.196% | ||||
Straight bonds | $ 1,827 | 1,826 | |||
1.625% EUR 600 million bond 2014/2026 of Novartis Finance S.A. Luxembourg, Luxembourg, issued at 99.697% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 1.625% | 1.625% | 1.625% | ||
Borrowings, original currency | EUR | ||||
Notional amount | € | € 600 | ||||
Borrowings, issuance year | 2014 | ||||
Borrowings, maturity year | 2026 | ||||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | ||||
Borrowings, issue price | 99.697% | ||||
Straight bonds | $ 638 | 676 | |||
0.25% CHF 500 million bond 2015/2025 of Novartis AG Basel Switzerland, issued at 100.64% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 0.25% | 0.25% | 0.25% | ||
Borrowings, original currency | CHF | ||||
Notional amount | SFr | SFr 500 | ||||
Borrowings, issuance year | 2015 | ||||
Borrowings, maturity year | 2025 | ||||
Borrowings, issuer | Novartis AG, Basel, Switzerland | ||||
Borrowings, issue price | 100.64% | ||||
Straight bonds | $ 541 | 547 | |||
0.625% CHF 550 million bond 2015/2029 of Novartis AG Basel Switzerland, issued at 100.502% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 0.625% | 0.625% | 0.625% | ||
Borrowings, original currency | CHF | ||||
Notional amount | SFr | SFr 550 | ||||
Borrowings, issuance year | 2015 | ||||
Borrowings, maturity year | 2029 | ||||
Borrowings, issuer | Novartis AG, Basel, Switzerland | ||||
Borrowings, issue price | 100.502% | ||||
Straight bonds | $ 595 | 602 | |||
1.050% CHF 325 million bond 2015/2035 of Novartis AG Basel Switzerland, issued at 100.479% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 1.05% | 1.05% | 1.05% | ||
Borrowings, original currency | CHF | ||||
Notional amount | SFr | SFr 325 | ||||
Borrowings, issuance year | 2015 | ||||
Borrowings, maturity year | 2035 | ||||
Borrowings, issuer | Novartis AG, Basel, Switzerland | ||||
Borrowings, issue price | 100.479% | ||||
Straight bonds | $ 352 | 356 | |||
3.0% USD 1 750 million bond 2015/2025 of Novartis Capital Corporation, New York United States, issued at 99.010% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 3% | 3% | 3% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,750 | ||||
Borrowings, issuance year | 2015 | ||||
Borrowings, maturity year | 2025 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.01% | ||||
Straight bonds | $ 1,742 | 1,740 | |||
4.0% USD 1 250 million bond 2015/2045 of Novartis Capital Corporation, New York United States, issued at 98.029% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 4% | 4% | 4% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,250 | ||||
Borrowings, issuance year | 2015 | ||||
Borrowings, maturity year | 2045 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 98.029% | ||||
Straight bonds | $ 1,221 | 1,220 | |||
0.125% EUR 1 250 million bond 2016/2023 of Novartis Finance S.A. Luxembourg, Luxembourg, issued at 99.127% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 0.125% | 0.125% | 0.125% | ||
Borrowings, original currency | EUR | ||||
Notional amount | € | € 1,250 | ||||
Borrowings, issuance year | 2016 | ||||
Borrowings, maturity year | 2023 | ||||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | ||||
Borrowings, issue price | 99.127% | ||||
Straight bonds | $ 1,330 | 1,409 | |||
0.625% EUR 500 million bond 2016/2028 of Novartis Finance S.A. Luxembourg, Luxembourg, issued at 98.48% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 0.625% | 0.625% | 0.625% | ||
Borrowings, original currency | EUR | ||||
Notional amount | € | € 500 | ||||
Borrowings, issuance year | 2016 | ||||
Borrowings, maturity year | 2028 | ||||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | ||||
Borrowings, issue price | 98.48% | ||||
Straight bonds | $ 528 | 559 | |||
2.400% USD 1'000 million 2017/2022 of Novartis Capital Corporation, New York, United States, issued at 99.449% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 2.40% | 2.40% | 2.40% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,000 | ||||
Borrowings, issuance year | 2017 | ||||
Borrowings, maturity year | 2022 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.449% | ||||
Straight bonds | 1,000 | ||||
3.100% USD 1'000 million 2017/2027 of Novartis Capital Corporation, New York, United States, issued at 99.109% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 3.10% | 3.10% | 3.10% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,000 | ||||
Borrowings, issuance year | 2017 | ||||
Borrowings, maturity year | 2027 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.109% | ||||
Straight bonds | $ 994 | 993 | |||
1.125% EUR 600 million 2017/2027 of Novartis Finance S.A., Luxembourg, Luxembourg, issued at 99.874% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 1.125% | 1.125% | 1.125% | ||
Borrowings, original currency | EUR | ||||
Notional amount | € | € 600 | ||||
Borrowings, issuance year | 2017 | ||||
Borrowings, maturity year | 2027 | ||||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | ||||
Borrowings, issue price | 99.874% | ||||
Straight bonds | $ 638 | 677 | |||
0.500% EUR 750 million 2018/2023 of Novartis Finance S.A., Luxembourg, Luxembourg issued at 99.655% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 0.50% | 0.50% | 0.50% | ||
Borrowings, original currency | EUR | ||||
Notional amount | € | € 750 | ||||
Borrowings, issuance year | 2018 | ||||
Borrowings, maturity year | 2023 | ||||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | ||||
Borrowings, issue price | 99.655% | ||||
Straight bonds | $ 798 | 846 | |||
1.375% EUR 750 million 2018/2030 of Novartis Finance S.A., Luxembourg, Luxembourg issued at 99.957% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 1.375% | 1.375% | 1.375% | ||
Borrowings, original currency | EUR | ||||
Notional amount | € | € 750 | ||||
Borrowings, issuance year | 2018 | ||||
Borrowings, maturity year | 2030 | ||||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | ||||
Borrowings, issue price | 99.957% | ||||
Straight bonds | $ 797 | 846 | |||
1.700% EUR 750 million 2018/2038 of Novartis Finance S.A., Luxembourg, Luxembourg issued at 99.217% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 1.70% | 1.70% | 1.70% | ||
Borrowings, original currency | EUR | ||||
Notional amount | € | € 750 | ||||
Borrowings, issuance year | 2018 | ||||
Borrowings, maturity year | 2038 | ||||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | ||||
Borrowings, issue price | 99.217% | ||||
Straight bonds | $ 792 | 840 | |||
1.750% USD 1 000 million 2020/2025 Novartis Capital Corporation, New York, United States, issued at 99.852% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 1.75% | 1.75% | 1.75% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,000 | ||||
Borrowings, issuance year | 2020 | ||||
Borrowings, maturity year | 2025 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.852% | ||||
Straight bonds | $ 998 | 998 | |||
2.000% USD 1 250 million 2020/2027 Novartis Capital Corporation, New York, United States, issued at 99.909% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 2% | 2% | 2% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,250 | ||||
Borrowings, issuance year | 2020 | ||||
Borrowings, maturity year | 2027 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.909% | ||||
Straight bonds | $ 1,246 | 1,246 | |||
2.200% USD 1 500 million 2020/2030 Novartis Capital Corporation, New York, United States, issued at 99.869% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 2.20% | 2.20% | 2.20% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,500 | ||||
Borrowings, issuance year | 2020 | ||||
Borrowings, maturity year | 2030 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 99.869% | ||||
Straight bonds | $ 1,494 | 1,493 | |||
2.750% USD 1 250 million 2020/2050 Novartis Capital Corporation, New York, United States, issued at 97.712% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 2.75% | 2.75% | 2.75% | ||
Borrowings, original currency | USD | ||||
Notional amount | $ 1,250 | ||||
Borrowings, issuance year | 2020 | ||||
Borrowings, maturity year | 2050 | ||||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | ||||
Borrowings, issue price | 97.712% | ||||
Straight bonds | $ 1,215 | 1,214 | |||
0.000% 1 EUR 1 850 million 2020/2028 Novartis Finance S.A., Luxembourg, Luxembourg, issued at 99.354% [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Borrowings, coupon | 0% | 0% | 0% | ||
Borrowings, original currency | EUR | ||||
Notional amount | € | € 1,850 | ||||
Borrowings, issuance year | 2020 | ||||
Borrowings, maturity year | 2028 | ||||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | ||||
Borrowings, issue price | 99.354% | ||||
Straight bonds | $ 1,958 | $ 2,076 | |||
Borrowings interest rate step up | 25% |
Non-current financial debt (D_3
Non-current financial debt (Details 2) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 22,485 | $ 25,523 |
Not later than one year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,241 | 2,621 |
Later than one year and not later than two years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,147 | 2,342 |
Later than two years and not later than three years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 3,281 | 2,144 |
Later than three years and not later than four years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 638 | 3,284 |
Later than four years and not later than five years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,909 | 693 |
Later than five years and not later than six years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,916 | |
Later than five years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 11,269 | |
Later than six years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 11,523 |
Non-current financial debt (D_4
Non-current financial debt (Details 3) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 22,485 | $ 25,523 |
USD | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 13,376 | 15,862 |
EUR | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 7,478 | 7,930 |
JPY | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 76 | 174 |
CHF | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 1,488 | 1,505 |
Others | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 67 | $ 52 |
Non-current financial debt (D_5
Non-current financial debt (Details 4) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of fair value measurement of liabilities [line items] | ||
Straight bonds | $ 22,341 | $ 25,296 |
Total | 22,485 | 25,523 |
Balance sheet | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Straight bonds | 22,341 | 25,296 |
Others | 144 | 227 |
Total | 22,485 | 25,523 |
Fair values | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Straight bonds | 20,277 | 27,079 |
Others | 144 | 227 |
Total | $ 20,421 | $ 27,306 |
Provisions and other non-curr_3
Provisions and other non-current liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other provisions [line items] | |||
Defined benefit pension plans | $ 1,723 | $ 2,640 | |
Other long-term employee benefits and deferred compensation | 554 | 662 | |
Other post-employment benefits | 362 | 487 | |
Environmental remediation provisions | 535 | 567 | $ 642 |
Product liability, government investigations, other legal matters provisions | 154 | 341 | $ 181 |
Contingent consideration | 704 | 956 | |
Other non-current liabilities | 874 | 519 | |
Total provisions and other non-current liabilities | $ 4,906 | $ 6,172 |
Provisions and other non-curr_4
Provisions and other non-current liabilities (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Environmental provision [roll forward] | |||
Environmental liabilities provision at beginning of period | $ 616 | $ 809 | $ 714 |
Cash payments | (6) | (169) | (10) |
Releases | (18) | (105) | (27) |
Additions | 6 | 105 | 82 |
Currency translation effects | (10) | (24) | 50 |
Environmental liabilities provision at end of period | 588 | 616 | 809 |
Less current provision | (53) | (49) | (167) |
Non-current environmental remediation provisions at end of period | $ 535 | $ 567 | $ 642 |
Provisions and other non-curr_5
Provisions and other non-current liabilities (Details 2) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Environmental provision, fiscal year maturity [abstract] | ||||
Due within two years | $ 128 | |||
Due later than two years, but within five years | 163 | |||
Due later than five years, but within ten years | 251 | |||
Due after ten years | 46 | |||
Total environmental remediation liability provisions | $ 588 | $ 616 | $ 809 | $ 714 |
Provisions and other non-curr_6
Provisions and other non-current liabilities (Details 3) $ in Millions | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Disclosure of other provisions [line items] | |||
Product liability, government investigations, other legal matters provisions | $ 154 | $ 341 | $ 181 |
Italy | Lucentis [member] | |||
Disclosure of other provisions [line items] | |||
Estimated financial effect of contingent liabilities, maximum fine | 1,300 | ||
Estimated financial effect of contingent liabilities, damages claimed | 330 | ||
Italy | NAG and Novartis Pharma SpA [member] | Lucentis [member] | |||
Disclosure of other provisions [line items] | |||
Estimated financial effect of contingent liabilities | 125 | ||
US | Exforge Group [member] | |||
Disclosure of other provisions [line items] | |||
Amount of settlement in principle | $ 245 | ||
US | Sandoz [member] | |||
Disclosure of other provisions [line items] | |||
Description of nature of obligation contingent liabilities, number of states with alleged violations | 50 | ||
Amount of settlement in principle | 185 | 195 | |
US | Sandoz [member] | Taxotere [member] | |||
Disclosure of other provisions [line items] | |||
Product liability contingency, loss exposure not accrued, number of cases | 3,100 | ||
US | Sandoz [member] | Amiodarone [member] | |||
Disclosure of other provisions [line items] | |||
Product liability contingency, loss exposure not accrued, number of cases | 2 | ||
US | NPC and others [member] | Reclast/Aclasta [member] | |||
Disclosure of other provisions [line items] | |||
Product liability contingency, loss exposure not accrued, number of cases | 20 | ||
US | NPC and others [member] | Tasigna [member] | |||
Disclosure of other provisions [line items] | |||
Product liability contingency, loss exposure not accrued, number of cases | 400 | ||
France | F Hoffman La Roche AG and Roche SpA [member] | |||
Disclosure of other provisions [line items] | |||
Estimated financial effect of contingent liabilities, maximum fine | $ 452 | ||
Greece | Novartis (Hellas) S.A.C.I., Metamorphosis/Athens [member] | |||
Disclosure of other provisions [line items] | |||
Estimated financial effect of contingent liabilities, maximum fine | $ 1.2 | ||
Estimated financial effect of contingent liabilities, compensation for moral damages | $ 225 |
Provisions and other non-curr_7
Provisions and other non-current liabilities (Details 4) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Product liability, government investigations, other legal matters provisions [roll forward] | |||
Product liabilities government investigations other legal matters provisions at beginning of period | $ 397 | $ 487 | $ 1,369 |
Impact of business combinations | 4 | 11 | |
Cash payments | (105) | (292) | (1,863) |
Releases | (52) | (44) | (31) |
Additions | 466 | 251 | 1,018 |
Currency translation effects | (8) | (5) | (17) |
Product liabilities government investigations other legal matters provisions at end of period | 702 | 397 | 487 |
Less current provision | (548) | (56) | (306) |
Non-current product liabilities, governmental investigations and other legal matters provisions at end of period | $ 154 | $ 341 | $ 181 |
Current financial debt and de_3
Current financial debt and derivative financial instruments (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of current financial debt and derivative instruments [abstract] | ||
Interest bearning accounts of associates payable on demand | $ 1,814 | |
Bank and other financial debt | $ 863 | 899 |
Commercial Papers | 2,772 | 893 |
Current portion of non-current financial debt | 2,241 | 2,621 |
Fair value of derivative financial instruments | 55 | 68 |
Total current financial debt and derivative financial instruments | $ 5,931 | $ 6,295 |
Weighted average interest rate, associates | 0.25% | 0.25% |
Weighted average interest rate on Bank and other financial debt | 9.70% | 6.10% |
Payment of interest bearing accounts to beneficiaries | $ 900 |
Provisions and other current _3
Provisions and other current liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of provisions and other current liabilities [abstract] | ||||
Taxes other than income taxes | $ 836 | $ 619 | ||
Restructuring provisions | 1,131 | 345 | ||
Accrued expenses for goods and services received but not invoiced | 1,059 | 1,089 | ||
Accruals for royalties | 767 | 752 | ||
Accrued interests on financial debt | 116 | 127 | ||
Provisions for deductions from revenue | 6,732 | 6,481 | $ 6,256 | $ 5,595 |
Accruals for compensation and benefits including social security | 2,321 | 2,260 | ||
Environmental remediation liabilities | 53 | 49 | 167 | |
Current deferred income other than current contract liabilities | 123 | 123 | ||
Provisions for product liabilities, governmental investigations and other legal matters | 548 | 56 | 306 | |
Accrued share-based payments | 235 | 253 | 269 | |
Contingent consideration | 131 | 119 | ||
Commitment for repurchase own shares | 2,809 | $ 1,800 | ||
Other payables | 743 | 588 | ||
Total provisions and other current liabilities | $ 14,795 | $ 15,670 |
Provisions and other current _4
Provisions and other current liabilities (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, at beginning of period | $ 6,481 | $ 6,256 | $ 5,595 |
Effects of currency translation and business combinations | (210) | (218) | 234 |
Payments/utilizations | (22,261) | (19,838) | (19,294) |
Additions prior year | (322) | (245) | (151) |
Additions current year | 23,072 | 20,413 | 19,773 |
Changes in offset against gross trade receivables | (28) | 113 | 99 |
Provisions for deductions from revenue, at end of period | $ 6,732 | $ 6,481 | $ 6,256 |
Provisions and other current _5
Provisions and other current liabilities (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Restructuring provisions movements [roll forward] | |||
Cash payments | $ (22,261) | $ (19,838) | $ (19,294) |
Restructuring provision | |||
Restructuring provisions movements [roll forward] | |||
Provision at beginning of period | 345 | 459 | 438 |
Additions | 1,368 | 328 | 354 |
Cash payments | (468) | (344) | (268) |
Releases | (42) | (54) | (87) |
Transfers | (53) | (27) | |
Currency translation effects | (19) | (17) | 22 |
Provision at end of period | $ 1,131 | $ 345 | $ 459 |
Details to the consolidated cas
Details to the consolidated cash flow statements (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Change in provisions and other non-current liabilities | $ 1,403 | $ 896 | $ 1,411 |
Gains on disposal and other adjustments on property, plant and equipment; intangible assets;financial assets; and other non-current assets, net | (333) | (677) | (478) |
Equity-settled compensation expense | 823 | 736 | 738 |
Loss/(income) from associated companies | 9 | (15,339) | (673) |
Income taxes | 1,416 | 2,119 | 1,807 |
Net financial expense | 817 | 891 | 947 |
Other | (30) | ||
Total | 11,546 | (5,299) | 9,881 |
Property, plant and equipment | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) recognised in profit or loss | 1,570 | 1,489 | 1,758 |
Right-of-use assets [member] | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) recognised in profit or loss | 303 | 318 | 330 |
Acquisition of assets (right of use assets) through leasing | 247 | 321 | 346 |
Intangible assets | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) recognised in profit or loss | 5,308 | 4,306 | 4,376 |
Financial assets impaired [member] | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) recognised in profit or loss | 260 | $ (38) | $ (335) |
Intangible assets other than goodwill [member] | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Acquisition of assets (other than through business combinations) by assuming directly related liabilities | $ 635 |
Details to the consolidated c_2
Details to the consolidated cash flow statements (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Income taxes paid (refund) | $ 2,000 | $ 2,300 | $ 1,900 |
Income taxes paid (refund), classified as operating activities | $ 1,975 | $ 2,342 | 1,833 |
Discontinued operations | |||
Statement [line items] | |||
Income taxes paid (refund), classified as investing activities | $ 88 |
Details to the consolidated c_3
Details to the consolidated cash flow statements (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
(Increase)/decrease in inventories | $ (830) | $ 81 | $ (543) |
(Increase)/decrease in trade receivables | (589) | (389) | 137 |
Decrease in trade payables | (48) | (21) | (324) |
Change in other current and non-current assets | (194) | (202) | 229 |
Change in other current liabilities | 658 | 772 | 211 |
Other adjustments, net | 0 | (1) | |
Total | $ (1,003) | $ 241 | $ (291) |
Details to the consolidated c_4
Details to the consolidated cash flow statements (Details 5) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Net cash flows | $ (879) | $ (567) | $ (9,957) |
Acquisitions | |||
Statement [line items] | |||
Net assets recognized as a result of acquistions of businesses | (1,077) | (735) | (10,173) |
Fair value of previously held equity interests | 21 | 42 | 7 |
Contingent consideration payables, net | 205 | 59 | 98 |
Payments, deferred consideration and other adjustments, net | (13) | 1 | 62 |
Net cash flows | (864) | (633) | (10,006) |
Divestments | |||
Statement [line items] | |||
Net cash flows | (15) | 66 | $ 49 |
Non-current assets divested | 132 | ||
Net cash inflows from divestment | (5) | (52) | |
Current assets divested | 113 | ||
Cash and cash equivalents in subsidiary or businesses acquired or disposed | 71 | ||
Deferred sale price and other adjustments | 41 | ||
Cash outflows due to derecognized cash and cash equivalents | 20 | ||
Non-current and current liabilities divested | 72 | ||
Net identifiable assets of divested business | $ 173 | ||
Divestments | Intangible assets and goodwill [member] | |||
Statement [line items] | |||
Net cash inflows from divestment | $ (14) |
Details to the consolidated c_5
Details to the consolidated cash flow statements (Details 6) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [line items] | |||
Financial debts and derivative instruments at beginning of period | $ 29,197 | ||
Increase in non-current financial debts | 16 | $ 16 | $ 7,126 |
Repayments of the current portion of non-current financial debts | (2,575) | (2,162) | (2,003) |
Change in current financial debts | 295 | (3,524) | 2,261 |
Payments of lease liabilities | (295) | (316) | (312) |
Financial debts and derivative instruments at end of period | 26,175 | 29,197 | |
Cash outflows from interest bearing accounts of employees payable on demand | 1,700 | ||
Non-current financial debts [member] | |||
Statement [line items] | |||
Financial debts and derivative instruments at beginning of period | 22,902 | 26,259 | 20,353 |
Increase in non-current financial debts | 16 | 16 | 7,126 |
Changes in fair values, lease interest and other changes, net | (1) | ||
Amortization of bonds discount | 17 | 25 | 16 |
Currency translation effects | (366) | (774) | 832 |
Reclassification from non-current to current, net | (2,325) | (2,624) | (2,067) |
Financial debts and derivative instruments at end of period | 20,244 | 22,902 | 26,259 |
Current financial debts and derivative financial instruments [member] | |||
Statement [line items] | |||
Financial debts and derivative instruments at beginning of period | 6,295 | 9,785 | 7,031 |
Repayments of the current portion of non-current financial debts | (2,575) | (2,162) | (2,003) |
Change in current financial debts | 295 | (3,524) | 2,261 |
Impact of acquisitions and divestments of businesses, net | 1 | 32 | |
Changes in fair values, lease interest and other changes, net | (13) | (124) | |
Amortization of bonds discount | 5 | 4 | 5 |
Currency translation effects | (401) | (309) | 392 |
Reclassification from non-current to current, net | 2,325 | 2,624 | 2,067 |
Financial debts and derivative instruments at end of period | 5,931 | 6,295 | 9,785 |
Non-current lease liabilities [member] | |||
Statement [line items] | |||
Financial debts and derivative instruments at beginning of period | 1,621 | 1,719 | 1,703 |
New, modified and terminated leases, net | 173 | 192 | 221 |
Impact of acquisitions and divestments of businesses, net | 9 | 36 | |
Changes in fair values, lease interest and other changes, net | (30) | ||
Currency translation effects | (41) | (43) | 39 |
Reclassification from non-current to current, net | (224) | (247) | (250) |
Financial debts and derivative instruments at end of period | 1,538 | 1,621 | 1,719 |
Current lease liabilities [member] | |||
Statement [line items] | |||
Financial debts and derivative instruments at beginning of period | 275 | 286 | 246 |
Payments of lease liabilities | (295) | (316) | (312) |
Interest payments for amounts included in lease liabilities classified as cash flows from operating activities | (51) | (52) | (56) |
New, modified and terminated leases, net | 49 | 61 | 73 |
Impact of acquisitions and divestments of businesses, net | 3 | 8 | |
Changes in fair values, lease interest and other changes, net | 60 | 62 | 65 |
Currency translation effects | (14) | (13) | 12 |
Reclassification from non-current to current, net | 224 | 247 | 250 |
Financial debts and derivative instruments at end of period | $ 251 | $ 275 | $ 286 |
Details to the consolidated c_6
Details to the consolidated cash flow statements (Details 7) $ in Millions | 12 Months Ended |
Dec. 31, 2020 USD ($) | |
Statement [line items] | |
Net cash flows used in investing activities from discontinued operations | $ (127) |
Net cash flows used in financing activities from discontinued operations | $ (50) |
Acquisitions of businesses (Det
Acquisitions of businesses (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [line items] | |||
Property, plant and equipment | $ 13 | $ 26 | |
Right-of-use assets | 12 | 32 | |
Currently marketed products | $ 292 | 196 | |
Acquired research and development | 1,209 | 262 | 8,600 |
Other intangible assets | 98 | 218 | |
Deferred tax assets | 56 | 28 | 476 |
Non-current financial and other assets | 49 | ||
Inventories | 84 | ||
Trade receivables and financial and other current assets | 5 | 1 | 109 |
Cash and cash equivalents | 89 | 10 | 76 |
Deferred tax liabilities | (300) | (74) | (1,977) |
Current and non-current financial debts | (1) | (32) | |
Current and non-current lease liabilities | (12) | (44) | |
Trade payables and other liabilities | (67) | (4) | (144) |
Net identifiable assets acquired | 1,005 | 612 | 7,669 |
Acquired cash and cash equivalents | (89) | (10) | (76) |
Non-controlling interests | (105) | ||
Goodwill | 161 | 238 | 2,580 |
Net assets recognized as a result of acquisitions of business | 1,077 | 735 | 10,173 |
Goodwill expected to be deductible for tax purposes | $ 0 | $ 107 | $ 74 |
Post-employment benefits for _3
Post-employment benefits for employees (Details) SFr in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2020 USD ($) | Dec. 31, 2020 CHF (SFr) | |
Disclosure of defined benefit plans [line items] | |||
Concentration of major plans, geographic | In addition to the legally required social security schemes, the Group has numerous independent pension and other post-employment benefit plans. In most cases, these plans are externally funded in entities that are legally separate from the Group. For certain Group companies, however, no independent plan assets exist for the pension and other post-employment benefit obligations of employees. In these cases, the related unfunded liability is included in the balance sheet. The defined benefit obligations (DBOs) of all major pension and other post-employment benefit plans are reappraised annually by independent actuaries. Plan assets are recognized at fair value. The major plans are based in Switzerland, the United States, the United Kingdom, Germany and Japan, which represent 95% of the Group’s total DBO for pension plans. Details of the plans in the two most significant countries, Switzerland and the United States, which represent 83% of the Group’s total DBO for post-employment benefit plans, are provided below. | ||
Major plans percentage in group DBO pensions | 95% | ||
Most signigicant countries percentage on group DBO post employment benefit plans | 83% | ||
Net Pre-tax curtailment gain (loss) | $ 101 | SFr 90 |
Post-employment benefits for _4
Post-employment benefits for employees (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension plans | |||
Defined benefit plan, change in benefit obligation [roll forward] | |||
Benefit obligation at beginning of period | $ 23,583 | $ 25,602 | |
Current service cost | 348 | 415 | |
Interest cost | 249 | 151 | |
Past service cost and settlements | (40) | 63 | |
Administrative expenses | 23 | 24 | |
Remeasurement losses/(gains) arising from changes in financial assumptions | (5,046) | (713) | |
Remeasurement (gains) arising from changes in demographic assumptions | (53) | (377) | |
Experience-related remeasurement losses/(gains) | 199 | 531 | |
Currency translation effects | (650) | (865) | |
Benefit payments | (1,253) | (1,450) | |
Contributions of associates | 174 | 179 | |
Effect of acquisitions, divestments or transfers | (1) | 23 | |
Benefit obligation at end of period | 17,533 | 23,583 | |
Defined benefit plan, change in fair value of plan assets [roll forward] | |||
Fair value of plan assets at beginning of period | 22,420 | 22,317 | |
Interest income | 220 | 105 | |
Return on plan assets excluding interest income | (2,500) | 1,512 | |
Currency translation effects | (539) | (726) | |
Novartis Group contributions | 424 | 490 | |
Contributions of associates | 174 | 179 | |
Settlements | (1) | (7) | |
Benefit payments | (1,253) | (1,450) | |
Fair value of plan assets at end of period | 18,945 | 22,420 | |
Funded status | 1,412 | (1,163) | |
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward] | |||
Limitation on recognition of fund surplus at beginning of period | (62) | (51) | |
Change in limitation on recognition of fund surplus | (2,504) | (16) | |
Currency translation effects | (76) | 6 | |
Interest income on limitation of fund surplus | (2) | (1) | |
Limitation on recognition of fund surplus at end of period | (2,644) | (62) | |
Net liability in the balance sheet at end of period | (1,232) | (1,225) | $ (3,336) |
Pension plans | Switzerland | |||
Defined benefit plan, change in benefit obligation [roll forward] | |||
Benefit obligation at beginning of period | 15,268 | ||
Benefit obligation at end of period | 11,824 | 15,268 | |
Defined benefit plan, change in fair value of plan assets [roll forward] | |||
Fair value of plan assets at beginning of period | 16,436 | ||
Fair value of plan assets at end of period | 14,701 | 16,436 | |
Funded status | 2,877 | 1,168 | |
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward] | |||
Limitation on recognition of fund surplus at end of period | 2,587 | ||
Other post-employment benefit plans | |||
Defined benefit plan, change in benefit obligation [roll forward] | |||
Benefit obligation at beginning of period | 560 | 632 | |
Current service cost | 12 | 11 | |
Interest cost | 17 | 16 | |
Past service cost and settlements | 1 | (3) | |
Remeasurement losses/(gains) arising from changes in financial assumptions | (94) | (20) | |
Remeasurement (gains) arising from changes in demographic assumptions | 4 | ||
Experience-related remeasurement losses/(gains) | (28) | (47) | |
Currency translation effects | (2) | (1) | |
Benefit payments | (44) | (32) | |
Benefit obligation at end of period | 422 | 560 | |
Defined benefit plan, change in fair value of plan assets [roll forward] | |||
Fair value of plan assets at beginning of period | 73 | 89 | |
Interest income | 2 | 2 | |
Return on plan assets excluding interest income | (12) | 7 | |
Novartis Group contributions | 41 | 7 | |
Benefit payments | (44) | (32) | |
Fair value of plan assets at end of period | 60 | 73 | |
Funded status | (362) | (487) | |
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward] | |||
Net liability in the balance sheet at end of period | $ (362) | $ (487) | $ (543) |
Post-employment benefits for _5
Post-employment benefits for employees (Details 2) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Amounts recognized in the consolidated balance sheet [abstract] | ||
Prepaid benefit cost | $ 491 | $ 1,415 |
Pension plans | ||
Defined benefit plan, change in net liability [roll forward] | ||
Net liability at beginning of period | (1,225) | (3,336) |
Current service cost | (348) | (415) |
Net interest expense | (31) | (47) |
Administrative expenses | (23) | (24) |
Past service cost and settlements | 39 | (70) |
Remeasurements | 2,400 | 2,071 |
Currency translation effects | 35 | 145 |
Novartis Group contributions | 424 | 490 |
Effect of acquisitions, divestments or transfers | 1 | (23) |
Change in limitation on recognition of fund surplus | (2,504) | (16) |
Net liability at end of period | (1,232) | (1,225) |
Amounts recognized in the consolidated balance sheet [abstract] | ||
Prepaid benefit cost | 491 | 1,415 |
Accrued benefit liability | (1,723) | (2,640) |
Other post-employment benefit plans | ||
Defined benefit plan, change in net liability [roll forward] | ||
Net liability at beginning of period | (487) | (543) |
Current service cost | (12) | (11) |
Net interest expense | (15) | (14) |
Past service cost and settlements | (1) | 3 |
Remeasurements | 110 | 70 |
Currency translation effects | 2 | 1 |
Novartis Group contributions | 41 | 7 |
Net liability at end of period | (362) | (487) |
Amounts recognized in the consolidated balance sheet [abstract] | ||
Accrued benefit liability | $ (362) | $ (487) |
Post-employment benefits for _6
Post-employment benefits for employees (Details 3) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pension plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | $ 17,533 | $ 23,583 | $ 25,602 |
Plan assets, at fair value | 18,945 | 22,420 | 22,317 |
Funded status | 1,412 | (1,163) | |
Pension plans | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 919 | 1,127 | |
Pension plans | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 6,161 | 8,510 | |
Pension plans | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,691 | 2,938 | |
Pension plans | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 9,681 | 12,135 | |
Pension plans | Switzerland | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 11,824 | 15,268 | |
Plan assets, at fair value | 14,701 | 16,436 | |
Funded status | 2,877 | 1,168 | |
Pension plans | Switzerland | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 4,799 | 6,478 | |
Pension plans | Switzerland | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 7,025 | 8,790 | |
Pension plans | US | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 2,746 | 3,645 | |
Plan assets, at fair value | 1,978 | 2,551 | |
Funded status | (768) | (1,094) | |
Pension plans | US | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 556 | 688 | |
Pension plans | US | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 431 | 620 | |
Pension plans | US | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 830 | 1,208 | |
Pension plans | US | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,485 | 1,817 | |
Pension plans | Rest of the world | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 2,963 | 4,670 | |
Plan assets, at fair value | 2,266 | 3,433 | |
Funded status | (697) | (1,237) | |
Pension plans | Rest of the world | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 363 | 439 | |
Pension plans | Rest of the world | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 931 | 1,412 | |
Pension plans | Rest of the world | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 861 | 1,730 | |
Pension plans | Rest of the world | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,171 | 1,528 | |
Other post-employment benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 422 | 560 | 632 |
Plan assets, at fair value | 60 | 73 | $ 89 |
Funded status | (362) | (487) | |
Other post-employment benefit plans | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 362 | 487 | |
Other post-employment benefit plans | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 48 | 83 | |
Other post-employment benefit plans | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 8 | 13 | |
Other post-employment benefit plans | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 366 | 464 | |
Other post-employment benefit plans | US | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 346 | 473 | |
Plan assets, at fair value | 60 | 73 | |
Funded status | (286) | (400) | |
Other post-employment benefit plans | US | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 286 | 400 | |
Other post-employment benefit plans | US | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 30 | 60 | |
Other post-employment benefit plans | US | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 8 | 13 | |
Other post-employment benefit plans | US | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 308 | 400 | |
Other post-employment benefit plans | Rest of the world | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 76 | 87 | |
Plan assets, at fair value | 0 | 0 | |
Funded status | (76) | (87) | |
Other post-employment benefit plans | Rest of the world | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 76 | 87 | |
Other post-employment benefit plans | Rest of the world | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 18 | 23 | |
Other post-employment benefit plans | Rest of the world | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 0 | 0 | |
Other post-employment benefit plans | Rest of the world | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | $ 58 | $ 64 |
Post-employment benefits for _7
Post-employment benefits for employees (Details 4) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pension plans | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 3% | 0.90% | 0.60% |
Expected rate of pension increase | 0.40% | 0.50% | 0.30% |
Expected rate of salary increase | 2.90% | 2.70% | 2.70% |
Interest on savings account | 2.20% | 0.50% | 0.10% |
Current life expectancy for a 65-year-old male | 22 years | 22 years | 22 years |
Current life expectancy for a 65-year-old female | 24 years | 24 years | 24 years |
Other post-employment benefit plans | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 6.30% | 3.30% | 2.90% |
Current life expectancy for a 65-year-old male | 21 years | 21 years | 21 years |
Current life expectancy for a 65-year-old female | 23 years | 23 years | 23 years |
Post-employment benefits for _8
Post-employment benefits for employees (Details 5) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Discount rate | 25 basis point change | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ (466) | $ (790) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | 491 | 839 |
Life expectancy | 1 year increase | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 535 | 869 |
Rate of pension increase | 25 basis point change | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 316 | 512 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | (63) | (136) |
Interest on savings account | 25 basis point change | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 38 | 58 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | (37) | (58) |
Salary increase | 25 basis point change | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 37 | 54 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (37) | $ (54) |
Post-employment benefits for _9
Post-employment benefits for employees (Details 6) - Other post-employment benefit plans | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of defined benefit plans [line items] | |||
Healthcare cost trend rate assumed for next year | 6.50% | 6% | 6.30% |
Rate to which the cost trend rate is assumed to decline | 4.50% | 4.50% | 4.50% |
Year that the rate reaches the ultimate trend rate | 2031 | 2028 | 2028 |
Post-employment benefits for_10
Post-employment benefits for employees (Details 7) - Pension plans - USD ($) shares in Millions, $ in Billions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, plan asset allocations | 100% | 100% |
Shares held by defined benefit plan | 2.3 | 2.3 |
Value of shares held by defined benefit plan | $ 0.2 | $ 0.2 |
Weighted average duration of defined benefit obligation years | 11 years 9 months 18 days | 14 years 10 months 24 days |
Equity securities | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 15% | |
Defined benefit plan, target plan asset allocations range maximum | 40% | |
Defined benefit plan, plan asset allocations | 24% | 27% |
Debt securities | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 20% | |
Defined benefit plan, target plan asset allocations range maximum | 60% | |
Defined benefit plan, plan asset allocations | 31% | 33% |
Real estate | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 5% | |
Defined benefit plan, target plan asset allocations range maximum | 30% | |
Defined benefit plan, plan asset allocations | 21% | 19% |
Alternative investments | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 0% | |
Defined benefit plan, target plan asset allocations range maximum | 20% | |
Defined benefit plan, plan asset allocations | 18% | 15% |
Cash and other investments | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 0% | |
Defined benefit plan, target plan asset allocations range maximum | 15% | |
Defined benefit plan, plan asset allocations | 6% | 6% |
Post-employment benefits for_11
Post-employment benefits for employees (Details 8) $ in Millions | Dec. 31, 2022 USD ($) |
Pension plans | |
Novartis Group contributions | |
Contributions, next fiscal year (estimated) | $ 397 |
Pension plans | Not later than one year [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,268 |
Pension plans | Later than one year and not later than two years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,441 |
Pension plans | Later than two years and not later than three years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,128 |
Pension plans | Later than three years and not later than four years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,114 |
Pension plans | Later than four years and not later than five years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,099 |
Pension plans | Later than five years and not later than ten years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 5,310 |
Other post-employment benefit plans | |
Novartis Group contributions | |
Contributions, next fiscal year (estimated) | 38 |
Other post-employment benefit plans | Not later than one year [member] | |
Expected future benefit payments | |
Expected future benefit payment | 38 |
Other post-employment benefit plans | Later than one year and not later than two years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 38 |
Other post-employment benefit plans | Later than two years and not later than three years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 38 |
Other post-employment benefit plans | Later than three years and not later than four years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 38 |
Other post-employment benefit plans | Later than four years and not later than five years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 38 |
Other post-employment benefit plans | Later than five years and not later than ten years [member] | |
Expected future benefit payments | |
Expected future benefit payment | $ 171 |
Post-employment benefits for_12
Post-employment benefits for employees (Details 9) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined contribution pension and other post-retirement plans disclosure [line items] | |||
Personnel costs | $ 14,900 | ||
Continuing operations | |||
Defined contribution pension and other post-retirement plans disclosure [line items] | |||
Post-employment benefit expense, defined contribution plans | $ 520 | $ 523 | $ 501 |
Equity-based participation pl_3
Equity-based participation plans for employees (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payment transactions with employees | $ 1,048 | $ 979 | $ 958 |
Liabilities from share-based payment transactions | $ 235 | $ 253 | $ 269 |
Equity-based participation pl_4
Equity-based participation plans for employees (Details 1) | 12 Months Ended |
Dec. 31, 2022 | |
Annual incentive | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | The Annual Incentive for the Novartis Group CEO and other Executive Committee members (ECN) is paid 50% in cash and 50% in Novartis restricted shares (RSs) or restricted share units (RSUs). For the Novartis Top Leaders (NTLs), the Annual Incentive is paid 70% in cash and 30% in RSs or RSUs. Both the ECN and NTLs can opt to invest up to the maximum cash portion of their Annual Incentive to receive further RSs or RSUs. Any cash is paid out during March in the year following the end of the performance period, and the shares are granted during January in the year following the end of the performance period. |
Employee Share Ownership Plan (ESOP) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | Employee share savings plan Novartis operates employee share savings and purchase plans in certain countries. The most significant is described below. The Employee Share Ownership Plan (ESOP) in Switzerland offers participants to choose to receive their Annual Incentive (i) 100% in shares, (ii) 50% in shares and 50% in cash, or (iii) 100% in cash. After expiration of a three-year holding period for Novartis shares invested under the ESOP, participants will receive one matching share for every two invested shares. Employees eligible for the equity plan “Select” are not eligible to receive ESOP matching shares. The Novartis Group CEO, the other Executive Committee members and the NTLs are not eligible to participate in this plan. |
Share purchase plans | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | Novartis Employee share purchase plan In 2022 Novartis started to grant shares under the Employee Share Purchase Plan. The plan enables employees to voluntarily purchase Novartis shares through payroll deductions at a discounted price. While the plan is global in scope, the first phase covers: North America (the US, Puerto Rico and Canada). The shares are not subject to a vesting period. |
Select | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | The equity plan “Select” is a global equity incentive plan under which eligible employees may annually be awarded a grant subject to a three-year, and for selected units a four-year, staggered vesting period. No awards are granted for performance ratings below a certain threshold. Executive Committee members and NTLs are not eligible to participate in the equity plan “Select.” The equity plan “Select” currently allows participants employed and living in Switzerland to choose the form of their equity compensation in RSs or RSUs. In all other jurisdictions, RSs or RSUs are granted unilaterally. Until 2013, participants could also choose to receive part or the entire grant in the form of tradable share options. Tradable share options expire on their 10th anniversary from the grant date, meaning all outstanding options exercisable at December 31, 2022, will expire in January 2023. Each tradable share option entitles the holder to purchase after vesting (and before the 10th anniversary from the grant date) one Novartis share at a stated exercise price that equals the closing market price of the underlying share at the grant date. As the exercise price does not reflect the decrease in the Novartis share due to the Alcon spin, one-fifth of an Alcon share will also be awarded to the option holder upon exercise. |
Long-Term Performance Plan | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | The Long-Term Performance Plan (LTPP) is an equity plan for the ECN, the NTLs and employees of Group units with specific targets. Participants are granted a target number of performance share units (PSUs) at the beginning of every performance period, which are converted into unrestricted Novartis shares after the performance period. The actual payout depends on the achievement of the performance measures and ranges between 0% and 200% of the granted amount. PSUs granted under the LTPP do not carry voting rights, but do carry dividend equivalents that are paid in unrestricted Novartis shares at the end of the performance period. The LTPP awards are subject to a three-year performance and vesting period. Until 2018, the performance criteria were based on Novartis internal performance metrics. For LTPP awards starting in 2019, following the combination of the two LTPP and Long-Term Relative Performance Plan (LTRPP), the performance criteria are based on both Novartis internal performance metrics and variables that can be observed in the market, which is the ranking of the Novartis total shareholder return (TSR) relative to a global healthcare peer group of 14 other companies, over rolling three-year performance periods. TSR for Novartis and the peer companies is calculated as the change in the company share price, which is translated to USD at the relevant exchange rate, including the reinvestment return of dividends, over the three-year performance period. The calculation is based on Bloomberg standard published TSR data, which is publicly available. The position of Novartis in the peer group determines the payout range based on a payout matrix. Long-Term Relative Performance Plan The LTRPP was an equity plan for the Novartis ECN and NTLs and the awards were subject to a three-year performance and vesting period. The last grant under this plan was made in 2018. The LTRPP performance criteria were based on variables that could be observed in the market, which was the ranking of the Novartis TSR relative to a global healthcare peer group of 14 other companies, over rolling three-year performance periods. The TSR for Novartis and the peer companies was calculated as described in the LTPP section above. |
Special share awards | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | Selected employees may exceptionally receive Special Share Awards of RSs or RSUs. These Special Share Awards provide an opportunity to reward outstanding achievements or exceptional performance, and aim to retain key contributors. They are based on a formal internal selection process, through which the individual performance of each candidate is thoroughly assessed at several management levels. Special Share Awards had a minimum three-year vesting period before 2021 and mainly three years thereafter. In exceptional circumstances, Special Share Awards may be awarded to attract special expertise and new talents to the organization. Externally recruited ECN members are eligible only for special awards that are “buyouts” in the case that it is to replace equity forfeited with their former employer. The equity is provided on a like-for-like basis as the forfeited equity, at the same value with the same vesting period, and with or without a performance condition. Worldwide, employees at different levels in the organization were awarded RSs and RSUs in 2022, 2021 and 2020. In addition, in 2022, 2021 and 2020, Board members received unrestricted shares as part of their regular compensation. |
Equity-based participation pl_5
Equity-based participation plans for employees (Details 2) - Select outside North America Pure in Millions | 12 Months Ended | |
Dec. 31, 2022 $ / shares | Dec. 31, 2021 $ / shares | |
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||
Number of share options outstanding at beginning of period | 1.7 | 2.6 |
Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period | $ 63.6 | $ 62 |
Number of share options exercised or sold | (1.2) | (0.9) |
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 62.6 | $ 58.9 |
Number of share options outstanding at end of period | 0.5 | 1.7 |
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period | $ 66 | $ 63.6 |
Number of share options exercisable | 0.5 | 1.7 |
Weighted average exercise price of share options exercisable in share-based payment arrangement | $ 66 | $ 63.6 |
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||
Weighted average share price for share options in share-based payment arrangement exercised during period at date of exercise | $ 86.1 |
Equity-based participation pl_6
Equity-based participation plans for employees (Details 3) - Select North America Pure in Millions | 12 Months Ended | |
Dec. 31, 2022 $ / shares | Dec. 31, 2021 $ / shares | |
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||
Number of share options outstanding at beginning of period | 4 | 6.7 |
Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period | $ 64.4 | $ 62.9 |
Number of share options exercised or sold | (2.9) | (2.7) |
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 63.7 | $ 60.7 |
Number of share options outstanding at end of period | 1.1 | 4 |
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period | $ 66.1 | $ 64.4 |
Number of share options exercisable | 1.1 | 4 |
Weighted average exercise price of share options exercisable in share-based payment arrangement | $ 66.1 | $ 64.4 |
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||
Weighted average share price for share options in share-based payment arrangement exercised during period at date of exercise | $ 89.1 |
Equity-based participation pl_7
Equity-based participation plans for employees (Details 4) Pure in Millions, $ / shares in Millions | 12 Months Ended | |
Dec. 31, 2022 $ / shares | Dec. 31, 2021 $ / shares | |
Equity-Based Participation Annual Incentive RSU [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 0.2 | 0.2 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 74.7 | $ 87.5 |
Equity Based Participation Annual Incentive Restricted Shares [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 0.1 | 0.1 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 85 | $ 97 |
Equity Based Participation Share savings plans RSU [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 0.4 | 0.4 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 75 | $ 86.9 |
Equity Based Participation Share savings plans Shares [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 1.2 | 1.1 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 85 | $ 97 |
Equity-Based Participation Employee share purchase plan [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 0.8 | |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 82.8 | |
Equity Based Participation Novartis Equity Plan Select North America RSU [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 4.9 | 4.3 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 74.5 | $ 86.9 |
Based Participation Novartis Equity Plan Select outside North America RSU [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 2 | 1.8 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 75.1 | $ 86.9 |
Equity Based Participation Novartis Equity Plan Select outside North America Restricted Shares [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 0.7 | 0.6 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 85 | $ 97 |
Equity Based Participation Long Term Performance PSU Plan [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 1.7 | 1.8 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 82 | $ 89.5 |
Equity Based Participation Other share awards RSU [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 0.5 | 0.6 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 76.3 | $ 78.4 |
Equity Based Participation Other share awards Restricted Shares [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 0.1 | |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 86.9 | |
Equity Based Participation Other share awards Shares [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted, number of shares | 0.1 | 0.1 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 86.1 | $ 91.9 |
Transaction with related partie
Transaction with related parties (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Disclosure of transactions between related parties [line items] | |||
Net sales to third parties | $ 50,545 | $ 51,626 | $ 48,659 |
Executive Committee members | 11 | 12 | 13 |
Related parties, number of executive committee members who stepped down | 5 | 3 | |
Non-executive directors | 15 | 14 | 14 |
Roche Holding AG [member] | |||
Disclosure of transactions between related parties [line items] | |||
Proportion of voting rights held in associate | 33.30% | 33.30% | |
Genentech / Roche [member] | |||
Disclosure of transactions between related parties [line items] | |||
Net expense, royalties cost sharing and profit sharing | $ (188) | $ (217) | |
Number of contracts with related parties | 2 | ||
Genentech / Roche [member] | Lucentis [member] | |||
Disclosure of transactions between related parties [line items] | |||
Net sales to third parties | 2,000 | 1,900 | |
Genentech / Roche [member] | Xolair [member] | |||
Disclosure of transactions between related parties [line items] | |||
Net sales to third parties | $ 1,300 | $ 1,300 | |
Spark Therapeutics, Inc. [member] | |||
Disclosure of transactions between related parties [line items] | |||
Number of contracts with related parties | 1 |
Transactions with related par_3
Transactions with related parties (Details 1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties [line items] | |||
Benefits other than equity-based compensation | $ 29.6 | $ 25 | $ 30.2 |
Post-employment benefits | 2.8 | 2.5 | 2.7 |
Equity-based compensation | 47.4 | 42.5 | 46.3 |
Total | 79.8 | 70 | 79.2 |
Key management personnel of entity or parent [member] | |||
Disclosure of transactions between related parties [line items] | |||
Benefits other than equity-based compensation | 25 | 20.3 | 25.6 |
Post-employment benefits | 2.8 | 2.5 | 2.7 |
Equity-based compensation | 42.6 | 37.3 | 41.1 |
Total | 70.4 | 60.1 | 69.4 |
Non-Executive Director [member] | |||
Disclosure of transactions between related parties [line items] | |||
Benefits other than equity-based compensation | 4.6 | 4.7 | 4.6 |
Equity-based compensation | 4.8 | 5.2 | 5.2 |
Total | $ 9.4 | $ 9.9 | $ 9.8 |
Transactions with related par_4
Transactions with related parties (Details 2) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 CHF (SFr) | Dec. 31, 2020 USD ($) | Dec. 31, 2020 CHF (SFr) | Dec. 31, 2018 USD ($) | |
Disclosure of transactions between related parties [line items] | ||||||
Key management personnel compensation | $ 79.8 | $ 70 | $ 79.2 | |||
Novartis Pension Fund [member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Borrowings credit facility uncommitted | $ 500 | |||||
Key management personnel of entity or parent [member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Key management personnel compensation | $ 70.4 | $ 60.1 | $ 69.4 | |||
Dr. Alex Krauer [member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Key management personnel compensation | SFr | SFr 60,000 | SFr 60,000 |
Commitments and contingencies_2
Commitments and contingencies (Details 1) $ in Millions | Dec. 31, 2022 USD ($) |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | $ 5,814 |
Uncalled capital commitments for investments in funds | 83 |
Not later than one year | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 420 |
Later than one year and not later than two years [member] | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 808 |
Later than two years and not later than three years [member] | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 448 |
Later than three years and not later than four years [member] | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 282 |
Later than four years and not later than five years [member] | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 687 |
Later than five years | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | $ 3,169 |
Financial instruments - addit_3
Financial instruments - additional disclosures (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [member] | Financial assets at amortised cost, category [member] | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 7,517 | $ 10,397 |
Cash and cash equivalents [member] | Financial assets at fair value through other comprehensive income, category [member] | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,010 | |
Financial assets at fair value, class [member] | Financial assets at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 874 | 5,980 |
Financial assets at fair value, class [member] | Financial assets at fair value through other comprehensive income, category [member] | Available-for-sale marketable securities [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9 | 2,741 |
Financial assets at fair value, class [member] | Financial assets at fair value through other comprehensive income, category [member] | Available-for-sale long-term financial investments [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 37 | 34 |
Financial assets at fair value, class [member] | Financial assets at fair value through other comprehensive income, category [member] | Available-for-sale long-term financial investments [member] | Equity securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 828 | 1,195 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,581 | 1,772 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Contingent consideration receivables [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 650 | 641 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Associated companies at fair value through profit and loss [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 129 | 192 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Derivative financial instruments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 204 | 105 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Available-for-sale long-term financial investments [member] | Equity securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 317 | 468 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Available-for-sale long-term financial investments [member] | Fund investments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 281 | 366 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 27,971 | 32,492 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | Trade receivables [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,066 | 8,005 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | Other current assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 958 | 793 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | Time deposits with original maturity more than 90 days [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 11,089 | 12,965 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | Long-term loans and receivables from customers and finance lease, advances, security deposits [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 341 | $ 332 |
Financial instruments - addit_4
Financial instruments - additional disclosures (Details 1) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 31,266 | $ 37,491 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Current financial debt [member] | Interest bearning accounts of associates payable on demand [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,814 | |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Current financial debt [member] | Bank and other financial debt [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 863 | 899 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Current financial debt [member] | Commercial paper [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,772 | 893 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Non-current financial debt [member] | Straight bonds [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 22,341 | 25,296 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Non-current financial debt [member] | Liabilities to banks and other financial institutions [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 144 | 227 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Trade payables [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 5,146 | 5,553 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Commitment for repurchase of own shares [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,809 | |
Financial liabilities at amortised cost, class [member] | Other financial liabilities, category [member] | Lease liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,789 | 1,896 |
Financial liabilities at amortised cost, class [member] | Other financial liabilities, category [member] | Other financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,789 | 1,896 |
Financial liabilities at fair value, class [member] | Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,122 | 1,162 |
Financial liabilities at fair value, class [member] | Financial liabilities at fair value through profit or loss, category [member] | Contingent consideration and other financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,067 | 1,094 |
Financial liabilities at fair value, class [member] | Financial liabilities at fair value through profit or loss, category [member] | Derivative financial instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 55 | $ 68 |
Financial instruments - addit_5
Financial instruments - additional disclosures (Details 2) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Contract or underlying principal amout [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | $ 8,043 | $ 13,347 |
Positive fair values [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | 204 | 105 |
Negative fair values [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | (55) | (68) |
Derivative financial instruments, at fair value currency related [member] | Contract or underlying principal amout [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 7,907 | 13,248 |
Derivative financial instruments, commodity purchase contract | 97 | 17 |
Derivative financial instruments, options on equity securities | 39 | 82 |
Derivative financial instruments, at fair value currency related [member] | Positive fair values [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 189 | 92 |
Derivative financial instruments, commodity purchase contract | 15 | 13 |
Derivative financial instruments, at fair value currency related [member] | Negative fair values [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | (41) | (35) |
Derivative financial instruments, options on equity securities | $ (14) | $ (33) |
Financial instruments - addit_6
Financial instruments - additional disclosures (Details 3) - Contract or underlying principal amout [member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | $ 8,043 | $ 13,347 |
EUR | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | 767 | 1,485 |
USD | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | 5,715 | 5,257 |
Others | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | 1,561 | 6,605 |
Derivative financial instruments, at fair value currency related [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 7,907 | 13,248 |
Derivative financial instruments, commodity purchase contract | 97 | 17 |
Derivative financial instruments, options on equity securities | 39 | 82 |
Derivative financial instruments, at fair value currency related [member] | EUR | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 687 | 1,485 |
Derivative financial instruments, commodity purchase contract | 80 | |
Derivative financial instruments, at fair value currency related [member] | USD | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 5,659 | 5,158 |
Derivative financial instruments, commodity purchase contract | 17 | 17 |
Derivative financial instruments, options on equity securities | 39 | 82 |
Derivative financial instruments, at fair value currency related [member] | Others | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | $ 1,561 | $ 6,605 |
Financial instruments - addit_7
Financial instruments - additional disclosures (Details 4) - Recurring fair value measurement [member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | $ 2,010 | |
Cash and cash equivalents [member] | Debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 2,010 | |
Marketable securities, time deposits and derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | $ 213 | 2,846 |
Marketable securities, time deposits and derivative financial instruments [member] | Debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 9 | |
Marketable securities, time deposits and derivative financial instruments [member] | Total available-for-sale marketable securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 2,741 | |
Marketable securities, time deposits and derivative financial instruments [member] | Derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 204 | 105 |
Financial investments and long-term loans [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 2,070 | 2,704 |
Financial investments and long-term loans [member] | Fund investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 281 | 366 |
Financial investments and long-term loans [member] | Available-for-sale financial investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 1,182 | 1,697 |
Financial investments and long-term loans [member] | Contingent consideration receivables [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 607 | 641 |
Associated companies at fair value through profit and loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 129 | 192 |
Contingent consideration receivables [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 43 | |
Level 1 of fair value hierarchy [member] | Cash and cash equivalents [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 2,010 | |
Level 1 of fair value hierarchy [member] | Cash and cash equivalents [member] | Debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 2,010 | |
Level 1 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 2,719 | |
Level 1 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Total available-for-sale marketable securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 2,719 | |
Level 1 of fair value hierarchy [member] | Financial investments and long-term loans [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 493 | 1,108 |
Level 1 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Fund investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 20 | 28 |
Level 1 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Available-for-sale financial investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 473 | 1,080 |
Level 2 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 213 | 127 |
Level 2 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 9 | |
Level 2 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Total available-for-sale marketable securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 22 | |
Level 2 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 204 | 105 |
Level 2 of fair value hierarchy [member] | Financial investments and long-term loans [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 10 | |
Level 2 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Available-for-sale financial investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 10 | |
Level 3 of fair value hierarchy [member] | Financial investments and long-term loans [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 1,567 | 1,596 |
Level 3 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Fund investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 261 | 338 |
Level 3 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Available-for-sale financial investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 699 | 617 |
Level 3 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Contingent consideration receivables [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 607 | 641 |
Level 3 of fair value hierarchy [member] | Associated companies at fair value through profit and loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 129 | $ 192 |
Level 3 of fair value hierarchy [member] | Contingent consideration receivables [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | $ 43 |
Financial instruments - addit_8
Financial instruments - additional disclosures (Details 5) - Recurring fair value measurement [member] - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Contingent consideration payables [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | $ (131) | $ (1,075) |
Other financial liabilities [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (232) | (19) |
Derivative financial instruments [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (55) | (68) |
Non-current contingent consideration liabilities [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (704) | |
Current financial liabilities at fair value [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (186) | |
Non-current financial liabilities at fair value [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (936) | (1,162) |
Level 2 of fair value hierarchy [member] | Derivative financial instruments [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (55) | (68) |
Level 2 of fair value hierarchy [member] | Current financial liabilities at fair value [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (55) | |
Level 2 of fair value hierarchy [member] | Non-current financial liabilities at fair value [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (68) | |
Level 3 of fair value hierarchy [member] | Contingent consideration payables [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (131) | (1,075) |
Level 3 of fair value hierarchy [member] | Other financial liabilities [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (232) | (19) |
Level 3 of fair value hierarchy [member] | Non-current contingent consideration liabilities [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (704) | |
Level 3 of fair value hierarchy [member] | Current financial liabilities at fair value [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (131) | |
Level 3 of fair value hierarchy [member] | Non-current financial liabilities at fair value [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | $ (936) | $ (1,094) |
Financial instruments - addit_9
Financial instruments - additional disclosures (Details 6) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Associated companies at fair value through profit and loss [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | $ 192 | $ 211 |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 2 | |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (63) | (26) |
Fair value adjustments recognized in the consolidated statement of comprehensive income | (2) | |
Purchases fair value measurement assets | 4 | 34 |
Disposals fair value measurement assets | (27) | |
Reclassification fair value measurement assets | (4) | |
Fair value measurement, carrying value, level 3, at end of period | 129 | 192 |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | (63) | (24) |
Fund investments [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | 338 | 366 |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 4 | 70 |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (78) | (8) |
Fair value adjustments recognized in the consolidated statement of comprehensive income | (1) | |
Purchases fair value measurement assets | 11 | 12 |
Disposals fair value measurement assets | (12) | (71) |
Reclassification fair value measurement assets | (2) | (30) |
Fair value measurement, carrying value, level 3, at end of period | 261 | 338 |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | (74) | 62 |
Long term financial investments [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | 617 | 460 |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 35 | 69 |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (84) | (13) |
Fair value adjustments recognized in the consolidated statement of comprehensive income | 24 | 51 |
Purchases fair value measurement assets | 160 | 137 |
Disposals fair value measurement assets | (13) | (43) |
Reclassification fair value measurement assets | (40) | (44) |
Fair value measurement, carrying value, level 3, at end of period | 699 | 617 |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | (49) | 56 |
Contingent consideration receivables [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | 641 | 625 |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 53 | 124 |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (44) | |
Fair value adjustments recognized in the consolidated statement of comprehensive income | (22) | |
Cash receipts and payments fair value measurement assets | (44) | (42) |
Fair value measurement, carrying value, level 3, at end of period | 650 | 641 |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | 53 | 80 |
Contingent consideration payables [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | (1,075) | (1,046) |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 530 | 182 |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (114) | (189) |
Fair value adjustments recognized in the consolidated statement of comprehensive income | 11 | 22 |
Purchases fair value measurement assets | (231) | (88) |
Cash receipts and payments fair value measurement assets | 44 | 44 |
Fair value measurement, carrying value, level 3, at end of period | (835) | (1,075) |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | 416 | (7) |
Other financial liabilities [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | (19) | |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 15 | |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (18) | |
Purchases fair value measurement assets | (238) | |
Cash receipts and payments fair value measurement assets | 28 | |
Fair value measurement, carrying value, level 3, at end of period | (232) | $ (19) |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | $ (3) |
Financial instruments - addi_10
Financial instruments - additional disclosures (Details 7) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Maturity of net debt [line items] | ||
Current financial assets | $ 18,930 | $ 28,329 |
Non-current financial debts | (20,244) | (22,902) |
Current financial debt | (5,931) | (6,295) |
Net debt | (7,245) | (868) |
Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 11,098 | 15,706 |
Commodities [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 111 | 111 |
Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 204 | 105 |
Cash and cash equivalents [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 7,517 | 12,407 |
Financial debt [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (20,244) | (22,902) |
Current financial debt | (5,876) | (6,227) |
Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (20,396) | (23,077) |
Current financial debt | (5,878) | (6,229) |
Derivative financial instruments [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (55) | (68) |
Not later than one month [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 8,176 | 7,438 |
Current financial debt | (3,253) | (2,830) |
Net debt | 4,923 | 4,608 |
Not later than one month [member] | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 4,142 | 11 |
Not later than one month [member] | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 23 | 21 |
Not later than one month [member] | Cash and cash equivalents [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 4,011 | 7,406 |
Not later than one month [member] | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (3,215) | (2,780) |
Not later than one month [member] | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (3,215) | (2,780) |
Not later than one month [member] | Derivative financial instruments [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (38) | (50) |
Later than one month and not later than three months [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 10,564 | 19,650 |
Current financial debt | (159) | (537) |
Net debt | 10,405 | 19,113 |
Later than one month and not later than three months [member] | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 6,911 | 14,585 |
Later than one month and not later than three months [member] | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 147 | 64 |
Later than one month and not later than three months [member] | Cash and cash equivalents [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 3,506 | 5,001 |
Later than one month and not later than three months [member] | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (146) | (521) |
Later than one month and not later than three months [member] | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (146) | (521) |
Later than one month and not later than three months [member] | Derivative financial instruments [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (13) | (16) |
Later than three month and not later than twelve months [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 55 | 1,095 |
Current financial debt | (2,519) | (2,928) |
Net debt | (2,464) | (1,833) |
Later than three month and not later than twelve months [member] | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 36 | 1,088 |
Later than three month and not later than twelve months [member] | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 19 | 7 |
Later than three month and not later than twelve months [member] | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (2,515) | (2,926) |
Later than three month and not later than twelve months [member] | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (2,517) | (2,928) |
Later than three month and not later than twelve months [member] | Derivative financial instruments [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (4) | (2) |
Between one and five years | ||
Maturity of net debt [line items] | ||
Current financial assets | 4 | |
Non-current financial debts | (8,975) | (8,464) |
Net debt | (8,975) | (8,460) |
Between one and five years | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 4 | |
Between one and five years | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (8,975) | (8,464) |
Between one and five years | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (9,002) | (8,490) |
Later than five years | ||
Maturity of net debt [line items] | ||
Current financial assets | 135 | 142 |
Non-current financial debts | (11,269) | (14,438) |
Net debt | (11,134) | (14,296) |
Later than five years | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 9 | 18 |
Later than five years | Commodities [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 111 | 111 |
Later than five years | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 15 | 13 |
Later than five years | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (11,269) | (14,438) |
Later than five years | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | $ (11,394) | $ (14,587) |
Financial instruments - addi_11
Financial instruments - additional disclosures (Details 8) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | ||
Potential outflows in various currencies - from financial derivative liabilities | $ (6,943) | $ (6,786) |
Potential inflows in various currencies - from financial derivative assets | 7,062 | 6,820 |
Not later than one month [member] | ||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | ||
Potential outflows in various currencies - from financial derivative liabilities | (2,029) | (843) |
Potential inflows in various currencies - from financial derivative assets | 2,029 | 847 |
Later than one month and not later than three months [member] | ||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | ||
Potential outflows in various currencies - from financial derivative liabilities | (4,598) | (5,482) |
Potential inflows in various currencies - from financial derivative assets | 4,712 | 5,516 |
Later than three month and not later than twelve months [member] | ||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | ||
Potential outflows in various currencies - from financial derivative liabilities | (316) | (461) |
Potential inflows in various currencies - from financial derivative assets | $ 321 | $ 457 |
Financial instruments - addi_12
Financial instruments - additional disclosures (Details 9) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | $ (5,532) | $ (6,063) | |
Lease liability | (1,789) | (1,896) | |
Trade payables | (5,146) | (5,553) | |
Commitment for repurchase own shares | (2,809) | $ (1,800) | |
Contingent consideration liabilities | (835) | (1,075) | |
Later than one month and not later than three months [member] | |||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | (64) | (82) | |
Lease liability | (71) | (78) | |
Trade payables | (5,020) | (5,373) | |
Commitment for repurchase own shares | (2,809) | ||
Contingent consideration liabilities | (16) | (54) | |
Later than three month and not later than twelve months [member] | |||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | (412) | (445) | |
Lease liability | (180) | (197) | |
Trade payables | (126) | (180) | |
Contingent consideration liabilities | (115) | (65) | |
Between one and five years | |||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | (1,432) | (1,628) | |
Lease liability | (616) | (639) | |
Contingent consideration liabilities | (437) | (517) | |
Later than five years | |||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | (3,624) | (3,908) | |
Lease liability | (922) | (982) | |
Contingent consideration liabilities | $ (267) | $ (439) |
Financial instruments - addi_13
Financial instruments - additional disclosures (Details 10) $ in Millions, € in Billions, ¥ in Billions | 12 Months Ended | ||||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2022 JPY (¥) | Dec. 31, 2021 EUR (€) | |
Disclosure of derivative financial instruments [line items] | |||||
Transfers out of Level 3 of fair value hierarchy, assets | $ (44) | $ (73) | |||
Transfers into Level 3 of fair value hierarchy, assets | 29 | ||||
Description of reasons for transfers out of Level 3 of fair value hierarchy, assets | During 2022, there was one transfer of equity securities from Level 3 to Level 1 for USD 44 million (2021: USD 73 million), due to Initial Public Offering of the invested company. During 2022, there were no transfers of equity securities from Level 1 to Level 3 due to de-listing (2021: USD 29 million). | ||||
Amount of change in OCI when most significant parameters for level 3 change more than 10% | $ 154 | ||||
Amount of change in OCI when POS for level 3 change more than 10% | 140 | ||||
Fair value of other financial assets sold | 3 | 254 | |||
Long-term financial debt with a carrying amount | $ 2,000 | 2,100 | € 1.8 | € 1.8 | |
Maximum margin percentage impact of commodity price change | 10% | ||||
Maximum holding in unrelated company | 5% | ||||
Unrealized income was recognized in other comprehensive income and accumulated in currency translation effects in relation with this net investment hedge | $ 91 | 216 | |||
Borrowings commercial paper maximum borrowing amount | $ 2,800 | 900 | |||
Borrowings commercial paper, number of programs | 3 | 3 | 3 | ||
Borrowings credit facility committed | $ 6,000 | ||||
Net loss/gain recorded on equity securities and fund investments at fair value through the consolidated income statement | 316 | 55 | |||
Fair value of fund investments and equity securities | 1,600 | $ 2,200 | |||
US commercial paper programs [member] | |||||
Disclosure of derivative financial instruments [line items] | |||||
Borrowings commercial paper maximum borrowing amount | $ 9,000 | ||||
Borrowings commercial paper, number of programs | 2 | 2 | 2 | ||
JP commercial paper programs [member] | |||||
Disclosure of derivative financial instruments [line items] | |||||
Borrowings commercial paper maximum borrowing amount | $ 1,100 | ¥ 150 | |||
Borrowings commercial paper, number of programs | 1 | 1 | 1 | ||
Largest financial institution [member] | |||||
Counterparty risk [abstract] | |||||
Percentage of entity's cash and cash equivalents held with financial institution | 13.20% | 9.70% | |||
Second largest financial institution [member] | |||||
Counterparty risk [abstract] | |||||
Percentage of entity's cash and cash equivalents held with financial institution | 9.20% | 9.70% | |||
Third largest financial institution [member] | |||||
Counterparty risk [abstract] | |||||
Percentage of entity's cash and cash equivalents held with financial institution | 6.80% | 7.60% |
Financial instruments - addi_14
Financial instruments - additional disclosures (Details 11) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of major customers [line items] | |||
Customers with net sales over five percent | The Group’s largest, second-largest and third-largest customers account for approximately 16%, 11% and 7% of net sales to third parties, respectively (2021: 17%, 11% and 6%, respectively; 2020: 17%, 11% and 6%, respectively). All segments had sales to these customers in 2022, 2021 and 2020. The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 16%, 14% and 7%, respectively, of the trade receivables at December 31, 2022 (2021: 16%, 12% and 7%, respectively). | ||
Percentage of government backed debt securities | 0% | 16% | |
Largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 16% | 17% | 17% |
Percentage of entitys trade receivable | 16% | 16% | |
Second largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 11% | 11% | 11% |
Percentage of entitys trade receivable | 14% | 12% | |
Third largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 7% | 6% | 6% |
Percentage of entitys trade receivable | 7% | 7% |
Financial instruments - addi_15
Financial instruments - additional disclosures (Details 12) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity securities | $ 828 | $ 1,195 |
Fair value of other financial assets sold | 3 | 254 |
Listed equity securities [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity securities | $ 438 | $ 888 |
Number of investments in equity instruments designated at fair value through other comprehensive income | 46 | 40 |
Non-listed equity securities [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity securities | $ 390 | $ 307 |
Number of investments in equity instruments designated at fair value through other comprehensive income | 65 | 60 |
Alcon | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of other financial assets sold | $ 22 | $ 9 |
Alcon | Total fair value adjustments | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Gain (loss) on sale of other financial assets | 7 | 1 |
Others | Total fair value adjustments | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Gain (loss) on sale of other financial assets | $ 3 | $ 211 |
Financial instruments - addi_16
Financial instruments - additional disclosures (Details 13) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statement [line items] | ||
Hypothetical increase decrease percentage in currency rate sensitivity | 5% | |
Hypothetical 5% increase [member] | ||
Statement [line items] | ||
Currency exchange rate sensitivity impact against USD in the income statement | $ (6) | $ 3 |
Currency exchange rate sensitivity impact against USD in the equity | 93 | 99 |
Hypothetical 5% decrease [member] | ||
Statement [line items] | ||
Currency exchange rate sensitivity impact against USD in the income statement | 7 | (3) |
Currency exchange rate sensitivity impact against USD in the equity | $ (98) | $ (104) |
Financial instruments - addi_17
Financial instruments - additional disclosures (Details 15) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statement [line items] | ||
Hypothetical increase decrease percentage in equity price sensitivity | 15% | |
Hypothetical 15% increase [member] | ||
Statement [line items] | ||
Equity price sensitivity impact of the risk factors in the income statement | $ 109 | $ 154 |
Equity price sensitivity impact of the risk factors in the equity | 124 | 179 |
Hypothetical 15% decrease [member] | ||
Statement [line items] | ||
Equity price sensitivity impact of the risk factors in the income statement | (109) | (154) |
Equity price sensitivity impact of the risk factors in the equity | $ (124) | $ (179) |
Events subsequent to the Dece_2
Events subsequent to the December 31 consolidated balance sheet date (Details) $ in Billions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2022 SFr / shares | Dec. 31, 2021 USD ($) | |
Statement [line items] | |||
Dividends proposed | $ | $ 7.3 | $ 7.5 | |
Subsequent Event [member] | |||
Statement [line items] | |||
Dividends proposed, cash per share | SFr / shares | SFr 3.20 |
Principal Group subsidiaries _3
Principal Group subsidiaries and associated companies (Details) - 12 months ended Dec. 31, 2022 ₽ in Millions, ₺ in Millions, ₴ in Millions, ₱ in Millions, ₨ in Millions, ฿ in Millions, ৳ in Millions, ر.س in Millions, دج in Millions, د.م. in Millions, د.إ in Millions, ¥ in Millions, zł in Millions, kr in Millions, kr in Millions, kr in Millions, kn in Millions, RON in Millions, RM in Millions, R$ in Millions, R in Millions, Kč in Millions, Ft in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, ₫ in Billions, ₩ in Billions, ₨ in Billions, Rp in Billions, $ in Billions, $ in Billions | USD ($) | EUR (€) | CHF (SFr) | JPY (¥) | DZD (دج) | ARS ($) | AUD ($) | BDT (৳) | BRL (R$) | CAD ($) | CLP ($) | HKD ($) | COP ($) | HRK (kn) | CZK (Kč) | DKK (kr) | EGP (ج.م.) | HUF (Ft) | INR (₨) | IDR (Rp) | ILS (₪) | MYR (RM) | MXN ($) | MAD (د.م.) | NZD ($) | NOK (kr) | PKR (₨) | PHP (₱) | PLN (zł) | RON | RUB (₽) | SAR (ر.س) | SGD ($) | ZAR (R) | KRW (₩) | SEK (kr) | TWD ($) | THB (฿) | TRY (₺) | UAH (₴) | AED (د.إ) | GBP (£) | VEF | VND (₫) |
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Principal group companies materiality of assets or sales to third parties | $ | $ 25,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Societe par actions SANDOZ, Algiers [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Société par actions SANDOZ | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Algiers | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Algeria | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | دج | دج 650 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Argentina S.A., Buenos Aires [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Argentina S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Buenos Aires | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Argentina | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 906.1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Australia Pty Ltd, Macquarie Park, NSW [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Australia Pty Ltd | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Macquarie Park, NSW | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Australia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 2 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals Australia Pty Ltd, Macquarie Park, NSW [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals Australia Pty Ltd | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Macquarie Park, NSW | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Australia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | 3,800,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Pty Ltd, Macquarie Park, NSW [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Pty Ltd | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Macquarie Park, NSW | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Australia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 11,600,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Austria GmbH, Vienna [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Austria GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Vienna | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Austria | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma GmbH, Vienna [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Vienna | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Austria | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 1,100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz GmbH, Kundl [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Kundl | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Austria | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 32,700,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | EBEWE Pharma Ges.m.b.H Nfg. KG, Unterach am Attersee [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | EBEWE Pharma Ges.m.b.H Nfg. KG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Unterach am Attersee | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Austria | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Bangladesh) Limited, Gazipur [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Bangladesh) Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Gazipur | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bangladesh | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ৳ | ৳ 162.5 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 60% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 60% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma NV, Vilvoorde [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma NV | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Vilvoorde | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Belgium | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 72,100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz NV, Vilvoorde [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz NV | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Vilvoorde | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Belgium | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 19,200,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Alcon - Couvreur NV, Puurs [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Alcon - Couvreur NV | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Puurs | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Belgium | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 110,600,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Investment Ltd., Hamilton [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Investment Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 12,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Securities Investment Ltd., Hamilton [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Securities Investment Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | SFr 30,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Finance Services Ltd., Hamilton [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Finance Services Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 20,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Triangle International Reinsurance Limited, Hamilton [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Triangle International Reinsurance Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Trinity River Insurance Co Ltd., Hamilton [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Trinity River Insurance Co Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 370,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Biociencias S.A., Sao Paulo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Biociências S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | São Paulo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Brazil | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | R$ | R$ 507.1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz do Brasil Industria Farmaceutica Ltda., Cambe, PR [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz do Brasil Indústria Farmacêutica Ltda. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cambé, PR | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Brazil | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | R$ | R$ 190.0 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals Canada Inc., Dorval, Quebec [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals Canada Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Dorval, Quebec | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Canada | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1.2 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Canada Inc., Boucherville, Quebec [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Canada Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Boucherville, Quebec | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Canada | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 80.8 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Chile S.A., Santiago de Chile [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Chile S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Santiago de Chile | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Chile | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 2 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Beijing Novartis Pharma Co., Ltd., Beijing [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Beijing Novartis Pharma Co., Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Beijing | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 30,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals (HK) Limited, Hong Kong [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals (HK) Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hong Kong | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 200 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | China Novartis Institutes for BioMedical Research Co., Ltd., Shanghai [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | China Novartis Institutes for BioMedical Research Co., Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Shanghai | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 320,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Suzhou Novartis Technical Development Co., Ltd., Changshu [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Suzhou Novartis Technical Development Co., Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Changshu | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 12,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Shanghai Novartis Trading Ltd., Shanghai [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Shanghai Novartis Trading Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Shanghai | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 3,200,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz (China) Pharmaceutical Co., Ltd., Zhongshan [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz (China) Pharmaceutical Co., Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Zhongshan | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 57,600,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis de Colombia S.A., Santafe de Bogota [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis de Colombia S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Santafé de Bogotá | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Colombia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 7.9 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz d.o.o. farmaceutska industrija, Zagreb [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz d.o.o. farmaceutska industrija | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Zagreb | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Croatia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kn | kn 25.6 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis s.r.o., Prague [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis s.r.o. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Prague | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Czech Republic | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Kč | Kč 51.5 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz s.r.o., Prague [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz s.r.o. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Prague | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Czech Republic | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Kč | Kč 44.7 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Healthcare A/S, Copenhagen [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Healthcare A/S | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Copenhagen | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Denmark | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kr | kr 14 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz A/S, Copenhagen [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz A/S | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Copenhagen | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Denmark | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kr | kr 12 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Ecuador S.A., Quito [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Ecuador S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Quito | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ecuador | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma S.A.E., Cairo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma S.A.E. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cairo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Egypt | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ج.م. | ج.م. 1,300,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.96% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.96% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Egypt Pharma S.A.E., New Cairo City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Egypt Pharma S.A.E. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | New Cairo City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Egypt | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ج.م. | ج.م. 250,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Finland Oy, Espoo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Finland Oy | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Espoo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Finland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 459,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Groupe France S.A., Rueil-Malmaison [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Groupe France S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Rueil-Malmaison | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 903,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma S.A.S., Rueil-Malmaison [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma S.A.S. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Rueil-Malmaison | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 43,400,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Gene Therapies France S.A.S., Rueil-Malmaison [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Gene Therapies France SAS | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Rueil-Malmaison | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 10,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications S.A., Rueil-Malmaison [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Rueil-Malmaison | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 9,600,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications Molecular Imaging France, Saint Genis Pouilly [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications Molecular Imaging France | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Saint-Genis-Pouilly | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 7,500,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | CELLforCURE, Les Ulis [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | CELLforCURE | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Les Ulis | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 4,200,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz S.A.S., Levallois-Perret [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz S.A.S. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Levallois-Perret | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 5,400,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Deutschland GmbH, Nuremberg [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Deutschland GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Nuremberg | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 155,500,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Business Services GmbH, Wehr [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Business Services GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Wehr | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 25,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma GmbH, Nuremberg [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Nuremberg | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 25,600,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Produktions GmbH, Wehr [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Produktions GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Wehr | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz International GmbH, Holzkirchen [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz International GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Holzkirchen | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | 1 A Pharma GmbH, Holzkirchen [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | 1 A Pharma GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Holzkirchen | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 26,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | HEXAL AG, Holzkirchen [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | HEXAL AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Holzkirchen | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 93,700,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Salutas Pharma GmbH, Barleben [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Salutas Pharma GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Barleben | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 42,100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Aeropharm GmbH, Rudolstadt [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Aeropharm GmbH | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Rudolstadt | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 26,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Hellas) S.A.C.I., Metamorphosis/Athens [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Hellas) S.A.C.I. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Metamorphosis / Athens | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Greece | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 233,900,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Hungary Healthcare Limited Liability Company, Budapest [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Hungary Healthcare Limited Liability Company | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Budapest | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Hungary | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Ft | Ft 545.6 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Hungary Limited Liability Company, Budapest [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Hungary Limited Liability Company | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Budapest | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Hungary | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Ft | Ft 883 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis India Limited, Mumbai [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis India Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mumbai | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | India | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₨ | ₨ 123.5 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 70.68% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 70.68% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Healthcare Private Limited, Mumbai [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Healthcare Private Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mumbai | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | India | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₨ | 60 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Private Limited, Mumbai [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Private Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mumbai | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | India | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₨ | ₨ 32 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | PT. Novartis Indonesia, Jakarta [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | PT. Novartis Indonesia | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Jakarta | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Indonesia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Rp | Rp 7.7 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Ireland Limited, Dublin [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Ireland Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Dublin | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ireland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 25,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Integrated Services Limited, Ringaskiddy, County Cork [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Integrated Services Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cork City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ireland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 100 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Gene Therapies EU Limited, Dublin [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Gene Therapies EU Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Dublin | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ireland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 100 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Israel Ltd., Tel Aviv [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Israel Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tel Aviv | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Israel | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₪ | ₪ 1,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Farma S.p.A., Milan [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Farma S.p.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Milan | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Italy | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 18,200,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications (Italy) S.r.l., Pozzilli [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications (Italy) S.r.l. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Pozzilli | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Italy | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 119,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz S.p.A., Origgio [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz S.p.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Origgio | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Italy | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 1,700,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma K.K., Tokyo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma K.K. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tokyo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Japan | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ¥ | ¥ 100 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Ciba-Geigy Japan Limited, Tokyo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Ciba-Geigy Japan Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tokyo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Japan | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ¥ | 100 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz K.K., Tokyo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz K.K. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tokyo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Japan | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ¥ | ¥ 100 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Baltics SIA, Riga [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Baltics SIA | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Riga | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Latvia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Investments S.a r.l., Luxembourg City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Investments S.à r.l. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Luxembourg City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Luxembourg | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Finance S.A., Luxembourg City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Finance S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Luxembourg City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Luxembourg | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Corporation (Malaysia) Sdn. Bhd., Petaling Jaya [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Corporation (Malaysia) Sdn. Bhd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Petaling Jaya | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Malaysia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | RM | RM 3.3 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Farmaceutica, S.A. de C.V., Mexico City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Farmacéutica, S.A. de C.V. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mexico City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Mexico | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 205 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz, S.A. de C.V., Mexico City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz, S.A. de C.V. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mexico City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Mexico | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 468.2 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Maroc SA, Casablanca [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Maroc SA | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Casablanca | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Morocco | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | د.م. | د.م. 80.0 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Netherlands B.V., Amsterdam [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Netherlands B.V. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Amsterdam | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Netherlands | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 1,400,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma B.V., Amsterdam [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma B.V. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Amsterdam | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Netherlands | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 4,500,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | IDB Holland BV, Baarle-Nassau [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | IDB Holland BV | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Baarle-Nassau | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Netherlands | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 18,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz B.V., Almere [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz B.V. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Almere | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Netherlands | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 907,560 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis New Zealand Ltd, Auckland [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis New Zealand Ltd | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Auckland | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | New Zealand | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 820,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Norge AS, Oslo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Norge AS | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Oslo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Norway | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kr | kr 1.5 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma (Pakistan) Limited, Karachi [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma (Pakistan) Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Karachi | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Pakistan | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₨ | ₨ 6.7 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.99% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.99% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma (Logistics), Inc., Panama City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma (Logistics), Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Panama City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Panama | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 10,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Healthcare Philippines, Inc., Makati City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Healthcare Philippines, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Makati City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Philippines | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₱ | ₱ 298.8 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Philippines Corporation, Makati City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Philippines Corporation | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Makati City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Philippines | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₱ | ₱ 30 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Poland Sp. z o.o., Warsaw [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Poland Sp. z o.o. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Warsaw | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Poland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | zł | zł 44.2 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Polska Sp. z o.o., Warsaw [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Polska Sp. z o.o. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Warsaw | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Poland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | zł | 25.6 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Lek S.A., Strykow [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Lek S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Strykow | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Poland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | zł | zł 11.4 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Portugal SGPS Lda., Porto Salvo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Portugal, S.G.P.S., Lda. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Porto Salvo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Portugal | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 500,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Farma - Produtos Farmaceuticos S.A., Porto Salvo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Farma - Produtos Farmacêuticos, S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Porto Salvo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Portugal | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 2,400,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Farmaceutica Lda., Porto Salvo [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Farmacêutica, Lda. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Porto Salvo | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Portugal | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 499,900 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Services Romania S.R.L., Bucharest [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Services Romania S.R.L. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bucharest | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Romania | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | RON | RON 3 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz S.R.L., Targu-Mures [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz S.R.L. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Targu-Mures | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Romania | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | RON | RON 119.5 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma LLC, Moscow [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma LLC | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Moscow | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Russian Federation | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₽ | ₽ 20 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Neva LLC, St. Petersburg [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Neva LLC | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | St. Petersburg | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Russian Federation | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₽ | 500 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | JSC Sandoz, Moscow [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | JSC Sandoz | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Moscow | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Russian Federation | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₽ | ₽ 57.4 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Saudi Ltd., Riyadh [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Saudi Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Riyadh | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Saudi Arabia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ر.س | ر.س 30.0 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Singapore) Pte Ltd., Singapore [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Singapore) Pte Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Singapore | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Singapore | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Singapore Pharmaceutical Manufacturing Pte Ltd, Singapore [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Singapore Pharmaceutical Manufacturing Pte Ltd | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Singapore | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Singapore | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | 45,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Asia Pacific Pharmaceuticals Pte Ltd, Singapore [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Asia Pacific Pharmaceuticals Pte Ltd | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Singapore | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Singapore | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 39,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Slovakia s.r.o., Bratislava [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Slovakia s.r.o. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bratislava | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Slovakia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Lek Pharmaceuticals d.d., Ljubjana [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Lek Pharmaceuticals d.d. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Ljubljana | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Slovenia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 48,400,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Pharmaceuticals d.d., Ljubjana [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Pharmaceuticals d.d. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Ljubljana | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Slovenia | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 1,500,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis South Africa (Pty) Ltd, Midrand [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis South Africa (Pty) Ltd | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Midrand | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | South Africa | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | R | R 86.3 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz South Africa (Pty) Ltd, Midrand [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz South Africa (Pty) Ltd | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Midrand | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | South Africa | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | R | R 3 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Korea Ltd., Seoul [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Korea Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Seoul | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | South Korea | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₩ | ₩ 24.5 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Farmaceutica, S.A., Barcelona [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Farmacéutica, S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Barcelona | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 63,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications Iberica, S.L.U., Barcelona [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications Iberica, S.L.U. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Esplugues de Llobregat | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 22,600,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Farmaceutica S.A., Madrid [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Farmacéutica S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Madrid | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 270,450 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Industrial Products S.A., Les Franqueses del Vall?s / Barcelona [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Industrial Products S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Les Franqueses del Vallés / Barcelona | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | 9,300,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Abadia Retuerta S.A., Sardon de Duero/Valladolid [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Abadia Retuerta S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Sardón de Duero / Valladolid | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € 6,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Sverige AB, Stockholm [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Sverige AB | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Stockholm | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Sweden | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kr | kr 5 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Holding AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Holding AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,200,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis International Pharmaceutical Investment AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis International Pharmaceutical Investment AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Bioventures AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Bioventures AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Forschungsstiftung, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Forschungsstiftung | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Stiftung fuer Kaderausbildung, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Stiftung für Kaderausbildung | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Mitarbeiterbeteiligungsstiftung, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis-Mitarbeiterbeteiligungsstiftung | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Stiftung fuer Mensch und Umwelt, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Stiftung für Mensch und Umwelt | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Stiftung der Novartis AG fuer Erziehung, Ausbildung und Bildung, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Stiftung der Novartis AG für Erziehung, Ausbildung und Bildung | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Overseas Investments AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Overseas Investments AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Japat AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Japat AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 50,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 350,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Services AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Services AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Schweizerhalle AG, Muttenz [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Schweizerhalle AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Muttenz | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 18,900,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Stein AG, Stein [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Stein AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Stein | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 251,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Schweiz AG, Risch [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Schweiz AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Risch | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Cellerys AG, Schlieren [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Cellerys AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Schlieren | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 129,630 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 20% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 20% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Arctos Medical AG, Bern [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Arctos Medical AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bern | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 360,020 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Innovative Therapies AG, Risch [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Innovative Therapies AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Risch | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications International SA, Geneve [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications International SA | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Geneva | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 9,300,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Pharmaceuticals AG, Risch [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Pharmaceuticals AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Risch | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Taiwan) Co., Ltd., Taipei [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Taiwan) Co., Ltd. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Taipei | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Taiwan | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 170 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Thailand) Limited, Bangkok [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Thailand) Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bangkok | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Thailand | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ฿ | ฿ 302 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Saglik, Gida ve Tarim Urunleri Sanayi ve Ticaret A.S., Istanbul [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Saglik, Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Istanbul | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Turkey | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₺ | ₺ 448 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Farmanova Saglik Hizmetleri Ltd. Sti., Istanbul [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Farmanova Saglik Hizmetleri Ltd. Sti. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Istanbul | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Turkey | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₺ | 6.7 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Ilac Sanayi ve Ticaret A.S., Istanbul [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Ilaç Sanayi ve Ticaret A.S. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Istanbul | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Turkey | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₺ | 880 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.99% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.99% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Grup Saglik Urunleri Ilaclari Sanayi ve Ticaret A.S., Gebze - Kocaeli [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Grup Saglik Ürünleri Ilaçlari Sanayi ve Ticaret A.S. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Gebze - Kocaeli | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Turkey | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₺ | ₺ 96 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Ukraine LLC, Kyiv [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Ukraine LLC | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Kyiv | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ukraine | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₴ | ₴ 8 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Middle East FZE, Dubai [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Middle East FZE | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Dubai | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Arab Emirates | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | د.إ | د.إ 7.0 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis UK Limited, London [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis UK Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | £ 25,500,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals UK Limited, London [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals UK Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 5,400,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Grimsby Limited, London [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Grimsby Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 250,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications (UK & Ireland), London [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications (UK & Ireland) | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 100 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Neutec Pharma Limited, London [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Neutec Pharma Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 7.7 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Gyroscope Therapeutics Limited, London [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Gyroscope Therapeutics Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 1,492 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Limited, Frimley/Camberley [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Frimley / Camberley | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | £ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Corporation, East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Corporation | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 72,200,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Capital Corporation, East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Capital Corporation | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Services, Inc., East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Services, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis US Foundation, East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis US Foundation | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals Corporation, East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals Corporation | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 650 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications USA, Inc., Millburn, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications USA, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Millburn, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.23% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Gene Therapies, Inc., Bannockburn, IL [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Gene Therapies, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bannockburn, IL | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Technology LLC, Inc., East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Technology LLC | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Institutes for BioMedical Research, Inc., Cambridge, MA [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Institutes for BioMedical Research, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cambridge, MA | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Cadent Therapeutics, Cambridge, MA [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Cadent Therapeutics | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cambridge, MA | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 0.1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Endocyte, Inc., East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Endocyte, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Navigate BioPharma Services, Inc., Carlsbad, CA [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Navigate BioPharma Services, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Carlsbad, CA | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | The Medicines Company, East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | The Medicines Company | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Inc., Princeton, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Princeton, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Oriel Therapeutics, Inc., Durham, NC [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Oriel Therapeutics, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Durham, NC | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 50,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Fougera Pharmaceuticals Inc., Melville, NY [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Fougera Pharmaceuticals Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Melville, NY | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Eon Labs, Inc., Princeton, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Eon Labs, Inc. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Princeton, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis de Venezuela, S.A., Caracas [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis de Venezuela, S.A. | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Caracas | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Venezuela | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | VEF | VEF 0 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Vietnam Company Limited, Ho Chi Minh City [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Vietnam Company Limited | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Ho Chi Minh City | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Vietnam | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₫ | ₫ 70 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis International AG, Basel [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis International AG | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | SFr 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Finance Corporation, East Hanover, NJ [member] | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Finance Corporation | |||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | |||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | |||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1,000 | |||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100% |