Novartis (NVS) 20-F 31 Jan 25 2024 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2024 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
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	1,975,089,248
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Auditor Name	KPMG AG
Auditor Location	Basel, Switzerland
Auditor Firm ID	3240
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 0.49 per share*
Document Information [Line Items]
Title of 12(b) Security	Ordinary shares, nominal value CHF 0.49 per share
Trading Symbol	NOVN
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, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Net sales from continuing operations	$ 50,317	$ 45,440	$ 42,206
Other revenues	1,405	1,220	1,255
Cost of goods sold	(12,827)	(12,472)	(11,582)
Gross profit from continuing operations	38,895	34,188	31,879
Selling, general and administration	(12,566)	(12,517)	(12,193)
Research and development	(10,022)	(11,371)	(9,172)
Other income	1,175	1,772	696
Other expense	(2,938)	(2,303)	(3,264)
Operating income from continuing operations	14,544	9,769	7,946
Loss from associated companies	(38)	(13)	(11)
Interest expense	(1,006)	(855)	(800)
Other financial income and expense	140	222	42
Income before taxes from continuing operations	13,640	9,123	7,177
Income taxes	(1,701)	(551)	(1,128)
Net income from continuing operations	11,939	8,572	6,049
Net income from discontinued operations before gain on distribution		422	906
Gain on distribution of Sandoz Group AG to Novartis AG shareholders		5,860
Net income from discontinued operations		6,282	906
Net income	11,939	14,854	6,955
Attributable to
Shareholders of Novartis AG	11,941	14,850	6,955
Non-controlling interests	$ (2)	$ 4	$ 0
Basic earnings per share [abstract]
Basic earnings (loss) per share from continuing operations	$ 5.92	$ 4.13	$ 2.77
Basic earnings (loss) per share from discontinued operations		3.02	0.42
Basic earnings per share	5.92	7.15	3.19
Diluted earnings per share [abstract]
Diluted earnings (loss) per share from continuing operations	5.87	4.10	2.76
Diluted earnings (loss) per share from discontinued operations		3	0.41
Diluted earnings per share	$ 5.87	$ 7.10	$ 3.17

Consolidated statements of comp

Consolidated statements of comprehensive income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Net income	$ 11,939	$ 14,854	$ 6,955
Other comprehensive income to be eventually recycled into the consolidated income statement
Cash flow hedge, net of taxes	(24)
Net investment hedge, net of taxes	91	(50)	91
Currency translation effects, net of taxes	(1,566)	1,375	(450)
Total of items that are or may be recycled	(1,499)	1,325	(359)
Other comprehensive income never to be recycled into the consolidated income statement
Actuarial gains/losses from defined benefit plans, net of taxes	2,024	(160)	(103)
Fair value adjustments on equity securities, net of taxes	64	37	(382)
Total of items that will never be recycled	2,088	(123)	(485)
Total comprehensive income	12,528	16,056	6,111
Attributable to
Shareholders of Novartis AG	12,533	16,050	6,116
Comprehensive income, attributable to non-controlling interests	(5)	6	(5)
Continuing operations
Attributable to
Shareholders of Novartis AG	$ 12,533	10,115	5,181
Discontinued operations
Attributable to
Shareholders of Novartis AG		$ 5,935	$ 935

Consolidated balance sheets

Consolidated balance sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Non-current assets [abstract]
Property, plant and equipment	$ 9,458	$ 9,514
Right-of-use assets	1,415	1,410
Goodwill	24,756	23,341
Intangible assets other than goodwill	26,915	26,879
Investments in associated companies	119	205
Deferred tax assets	4,359	4,309
Financial assets	2,015	2,607
Other non-current assets	3,505	1,199
Total non-current assets	72,542	69,464
Current assets [abstract]
Inventories	5,723	5,913
Trade receivables	7,423	7,107
Income tax receivable	133	426
Marketable securities, commodities, time deposits and derivative financial instruments	1,998	1,035
Cash and cash equivalents	11,459	13,393
Other current assets	2,968	2,607
Total current assets	29,704	30,481
Total assets	102,246	99,945
Equity [abstract]
Share capital	793	825
Treasury shares	(53)	(41)
Reserves	43,306	45,883
Equity attributable to Novartis AG shareholders	44,046	46,667
Non-controlling interests	80	83
Total equity	44,126	46,750
Non-current liabilities [abstract]
Financial debts	21,366	18,436
Lease liabilities	1,568	1,598
Deferred tax liabilities	2,419	2,248
Provisions and other non-current liabilities	4,075	4,523
Total non-current liabilities	29,428	26,805
Current liabilities [abstract]
Trade payables	4,572	4,926
Financial debts and derivative financial instruments	8,232	6,175
Lease liabilities	235	230
Current income tax liabilities	1,599	1,893
Provisions and other current liabilities	14,054	13,166
Total current liabilities	28,692	26,390
Total liabilities	58,120	53,195
Total equity and liabilities	$ 102,246	$ 99,945

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	$ 67,822	$ 67,655	$ 901	$ (48)	$ 70,989	$ (4,187)	$ 167
Equity at beginning of period at Dec. 31, 2021	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 Alcon	5	5		0	5
Taxes on treasury share transactions	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 financial assets sold					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
Net income	14,854	14,850			14,850		4
Other comprehensive income	1,202	1,200				1,200	2
Total comprehensive income	16,056	16,050			14,850	1,200	6
Dividends	(7,255)	(7,255)			(7,255)
Dividend in kind	(13,962)	(13,962)			(13,962)
Purchase of treasury shares	(8,517)	(8,517)		(51)	(8,466)
Reduction of share capital			(65)	94	(29)
Exercise of options and employee transactions, equity impact	146	146		2	144
Equity-based compensation	904	904		6	898
Shares delivered to divested business employees, equity impact Sandoz	30	30		0	30
Taxes on treasury share transactions	14	14			14
Transaction costs, net of taxes	(214)	(214)			(214)
Fair value adjustments on financial assets sold					(1)	1
Changes in non-controlling interests	(4)						(4)
Fair value adjustments related to divestments					(29)	29
Other movements	129	129			129
Total of other equity movements	(28,729)	(28,725)	(65)	51	(28,741)	30	(4)
Equity at end of period at Dec. 31, 2023	46,750	46,667	825	(41)	49,649	(3,766)	83
Equity	46,750	46,667	825	(41)	49,649	(3,766)	83
Net income	11,939	11,941			11,941		(2)
Other comprehensive income	589	592				592	(3)
Total comprehensive income	12,528	12,533			11,941	592	(5)
Dividends	(7,624)	(7,624)			(7,624)
Purchase of treasury shares	(8,450)	(8,450)		(44)	(8,406)
Reduction of share capital			(32)	26	6
Equity-based compensation	1,060	1,060		6	1,054
Shares delivered to divested business employees, equity impact Sandoz	12
Taxes on treasury share transactions	(68)	(68)			(68)
Fair value adjustments on financial assets sold					81	(81)
Changes in non-controlling interests	(224)	(226)			(226)		2
Other movements	154	154			154
Total of other equity movements	(15,152)	(15,154)	(32)	(12)	(15,029)	(81)	2
Equity at end of period at Dec. 31, 2024	44,126	44,046	793	(53)	46,561	(3,255)	80
Equity	$ 44,126	$ 44,046	$ 793	$ (53)	$ 46,561	$ (3,255)	$ 80

Consolidated cash flow statemen

Consolidated cash flow statements - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Net income from continuing operations	$ 11,939	$ 8,572	$ 6,049
Reversal of non-cash items and other adjustments	10,232	10,369	10,631
Dividends received from associated companies and others	1	2	1
Interest received	489	645	252
Interest paid	(855)	(751)	(667)
Other financial receipts		90	71
Other financial payments	(116)	(17)	(26)
Income taxes paid	(2,258)	(2,787)	(1,702)
Net cash flows from operating activities from continuing operations before working capital and provision changes	19,432	16,123	14,609
Payments out of provisions and other net cash movements in non-current liabilities	(1,107)	(1,534)	(774)
Change in net current assets and other operating cash flow items	(706)	(369)	(796)
Net cash flows from operating activities from continuing operations	17,619	14,220	13,039
Net cash flows from operating activities from discontinued operations		238	1,197
Total net cash flows from operating activities	17,619	14,458	14,236
Purchases of property, plant and equipment	(1,366)	(1,060)	(916)
Proceeds from sale of property, plant and equipment	86	237	158
Purchases of intangible assets	(2,448)	(1,693)	(1,323)
Proceeds from sale of intangible assets	80	1,955	170
Purchases of financial assets	(193)	(106)	(115)
Proceeds from sale of financial assets	957	348	133
Purchases of other non-current assets			(1)
Proceeds from sale of other non-current assets	3
Acquisitions and divestments of interests in associated companies, net	(10)	(11)	(24)
Acquisitions and divestments of businesses, net	(3,911)	(3,558)	(840)
Purchases of marketable securities, commodities and time deposits	(3,455)	(641)	(34,695)
Proceeds from sale of marketable securities, commodities and time deposits	2,744	11,248	39,357
Net cash flows (used in)/(from) investing activities from continuing operations	(7,513)	6,719	1,904
Net cash flows used in investing activities from discontinued operations		(1,123)	(436)
Total net cash flows (used in)/from investing activities	(7,513)	5,596	1,468
Dividends paid to shareholders of Novartis AG	(7,624)	(7,255)	(7,506)
Purchases of treasury shares	(8,331)	(8,719)	(10,652)
Proceeds from exercised options and other treasury share transactions, net	30	153	100
Proceeds from non-current financial debts	6,143
Repayments of the current portion of non-current financial debts	(2,160)	(2,223)	(2,575)
Change in current financial debts	958	546	252
Repayments of other current financial debts	(289)
Payments of lease liabilities	(262)	(258)	(262)
Payments from changes in ownership interests in consolidated subsidiaries	(293)
Other financing cash flows, net	86	192	(38)
Net cash flows used in financing activities from continuing operations	(11,742)	(17,564)	(20,681)
Net cash flows from financing activities from discontinued operations		3,286	119
Total net cash flows used in financing activities	(11,742)	(14,278)	(20,562)
Net change in cash and cash equivalents before effect of exchange rate changes	(1,636)	5,776	(4,858)
Effect of exchange rate changes on cash and cash equivalents	(298)	100	(32)
Net change in cash and cash equivalents	(1,934)	5,876	(4,890)
Cash and cash equivalents at beginning of period	13,393	7,517	12,407
Cash and cash equivalents at end of period	$ 11,459	$ 13,393	$ 7,517

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Protecting the security and integrity of the IT systems under our control and safeguarding the privacy of our customers, patients and employees is a top priority for us at all levels. Cybersecurity and data privacy risks are among the core enterprise risks evaluated through our annual enterprise risk management assessment. The Chief Security Officer oversees our cybersecurity risk management program in partnership with our Chief Information Officer and other business leaders. The program was developed to assess, identify and manage risks from cybersecurity threats and respond to cybersecurity breaches and cyberattacks, and to protect and preserve the confidentiality, integrity, and continued availability of information owned by, or in the care of Novartis. Governance To address cybersecurity threats and prevent IT system interruptions, the Information Security & Compliance (ISC) team, which is headed by our Chief Security Officer, has implemented enterprise-wide policies, processes and practices. Our Chief Security Officer reports to our Chief Information Officer, and is a subject matter expert on information security, privacy, information technology strategy and management with over 20 years of relevant experience across a number of industries, including pharmaceuticals, consumer goods, financial services and consulting. Our Chief Information Officer has 25 years of experience as an IT professional, including 15 years with Novartis, and is responsible for our technology strategy, delivery and operations globally. Our ISC team assesses our systems against our policies and processes, reviews gaps, and prioritizes remediation. Key performance indicators are reported to the Executive Committee of Novartis. The Executive Committee is responsible for oversight of the Company’s cybersecurity strategy. We seek to follow industry best practices, such as the NIST Cybersecurity Framework and ISO 27001 to manage information security. Novartis has risk-based services continuity and systems recovery plans in place for key business processes, which are tested periodically. We also conduct ongoing internal vulnerability analyses (including simulated hacking) as well as external testing via third parties to ensure the effectiveness of our cybersecurity controls. We require employees to report IT security incidents to a Cyber Security Operations Center (CSOC) that operates 24 hours a day, 7 days a week. CSOC is a function within ISC that is responsible for investigating all security incidents and alerts including determining the threat type, incident scope and incident severity. Where appropriate, major incidents are escalated to our Chief Executive Officer, who may then inform our Board of the incident pursuant to our internal procedures. Novartis has not experienced any cybersecurity threats, including as a result of cybersecurity incidents, that have materially affected or are reasonably likely to materially affect Novartis, including its business strategy, results of operations or financial condition. See “Item 3. Key Information—Item 3.D. Risk factors—Operational risks—Cybersecurity and data protection” for information on risks to Novartis from cybersecurity threats.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Protecting the security and integrity of the IT systems under our control and safeguarding the privacy of our customers, patients and employees is a top priority for us at all levels. Cybersecurity and data privacy risks are among the core enterprise risks evaluated through our annual enterprise risk management assessment.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	Novartis has not experienced any cybersecurity threats, including as a result of cybersecurity incidents, that have materially affected or are reasonably likely to materially affect Novartis, including its business strategy, results of operations or financial condition.
Cybersecurity Risk Board of Directors Oversight [Text Block]	As part of its enterprise risk management oversight, the Risk Committee of our Board is responsible for ensuring that the Company has implemented an appropriate and effective risk management system and process, including annually reviewing updates on cybersecurity.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	As part of its enterprise risk management oversight, the Risk Committee of our Board is responsible for ensuring that the Company has implemented an appropriate and effective risk management system and process, including annually reviewing updates on cybersecurity.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Risk Committee receives updates on cybersecurity risks, which address a wide range of topics, including recent developments, security incidents, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to the peers and vendors of Novartis. At least once each year, the Risk Committee discusses the Company’s approach to cybersecurity risk management with the Chief Security Officer.
Cybersecurity Risk Role of Management [Text Block]	The Chief Security Officer oversees our cybersecurity risk management program in partnership with our Chief Information Officer and other business leaders.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	To address cybersecurity threats and prevent IT system interruptions, the Information Security & Compliance (ISC) team, which is headed by our Chief Security Officer, has implemented enterprise-wide policies, processes and practices. Our Chief Security Officer reports to our Chief Information Officer, and is a subject matter expert on information security, privacy, information technology strategy and management with over 20 years of relevant experience across a number of industries, including pharmaceuticals, consumer goods, financial services and consulting. Our Chief Information Officer has 25 years of experience as an IT professional, including 15 years with Novartis, and is responsible for our technology strategy, delivery and operations globally. Our ISC team assesses our systems against our policies and processes, reviews gaps, and prioritizes remediation. Key performance indicators are reported to the Executive Committee of Novartis. The Executive Committee is responsible for oversight of the Company’s cybersecurity strategy. We seek to follow industry best practices, such as the NIST Cybersecurity Framework and ISO 27001 to manage information security. Novartis has risk-based services continuity and systems recovery plans in place for key business processes, which are tested periodically. We also conduct ongoing internal vulnerability analyses (including simulated hacking) as well as external testing via third parties to ensure the effectiveness of our cybersecurity controls. We require employees to report IT security incidents to a Cyber Security Operations Center (CSOC) that operates 24 hours a day, 7 days a week. CSOC is a function within ISC that is responsible for investigating all security incidents and alerts including determining the threat type, incident scope and incident severity. Where appropriate, major incidents are escalated to our Chief Executive Officer, who may then inform our Board of the incident pursuant to our internal procedures. Novartis has not experienced any cybersecurity threats, including as a result of cybersecurity incidents, that have materially affected or are reasonably likely to materially affect Novartis, including its business strategy, results of operations or financial condition. See “Item 3. Key Information—Item 3.D. Risk factors—Operational risks—Cybersecurity and data protection” for information on risks to Novartis from cybersecurity threats.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Chief Security Officer reports to our Chief Information Officer, and is a subject matter expert on information security, privacy, information technology strategy and management with over 20 years of relevant experience across a number of industries, including pharmaceuticals, consumer goods, financial services and consulting. Our Chief Information Officer has 25 years of experience as an IT professional, including 15 years with Novartis, and is responsible for our technology strategy, delivery and operations globally.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Executive Committee is responsible for oversight of the Company’s cybersecurity strategy.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Accounting policies

Accounting policies	12 Months Ended
	Dec. 31, 2024
Disclosure of significant accounting policies [abstract]
Disclosure of material accounting policy information [text block]	1. Accounting policies Novartis is a multinational group of companies (Novartis or Company) specializing in the research, development, manufacturing and marketing of a broad range of innovative pharmaceutical medicines. The Company is headquartered in Basel, Switzerland. The consolidated financial statements of the Company are prepared in accordance with International Financial Reporting Standards (IFRS®) Accounting Standards as issued by the International Accounting Standards Board. They are prepared in accordance with the historical cost convention, except for items that are required to be accounted for at fair value. The Company’s financial year-end is December 31, which is also the annual closing date of the individual entities’ financial statements incorporated into the Company’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, and liabilities, including the distribution liability and the non-cash, non-taxable gain recognized in connection with the distribution of Sandoz Group AG to Novartis AG shareholders, 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. At the Novartis AG Extraordinary General Meeting, held on September 15, 2023, our shareholders approved the spin-off of the Sandoz business. Following the share- holder approval, IFRS Accounting Standards required the Sandoz Division and selected portions of corporate activities attributable to Sandoz’s business, as well as certain expenses related to the spin-off (the “Sandoz business”) to be reported as discontinued operations in the consolidated financial statements. As a result, the Sandoz business has been presented as discontinued operations in the consolidated financial statements. This required the year ended December 31, 2023 consolidated income statement, consolidated statement of comprehensive income and consolidated statement of cash flows to present separately continuing operations from discontinued operations, with comparative amounts in 2022 restated on a consistent basis. For further information and disclosures refer to the section “—Distribution of Sandoz Group AG to Novartis AG shareholders” in this Note 1, and in Note 2, and Note 29. Listed below are the material accounting policies of significance to Novartis or, in cases where IFRS Accounting Standards provide 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 Company 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 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 using a functional currency other than USD, the subsidiary’s results, financial position and cash flows 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 Distribution of Sandoz Group AG to Novartis AG shareholders At the Extraordinary General Meeting (EGM) of Novartis AG shareholders, held on September 15, 2023, the Novartis AG shareholders approved a special distribution by way of a dividend in kind to effect the spin-off of Sandoz Group AG. The September 15, 2023, shareholder approval for the spin-off required the Sandoz Division and selected portions of corporate activities attributable to Sandoz’s business, as well as certain expenses related to the spin-off (the “Sandoz business”) to be reported as discontinued operations. The shareholder approval on September 15, 2023, for the spin-off the Sandoz business, required the recognition of a distribution liability at the fair value of the Sandoz business. Novartis policy is to measure the distribution liability at the fair value of the Sandoz business net assets taken as a whole. The distribution liability was recognized through a reduction in retained earnings. It was required to be adjusted at each balance sheet date for changes in its estimated fair value, up to the date of the distribution to shareholders through retained earnings. Any resulting impairment of the business assets to be distributed would have been recognized in the consolidated income statements in “Other expense” of discontinued operations, at the date of initial recognition of the distribution liability or at subsequent dates resulting from changes of the distribution liability valuation. At the October 4, 2023, distribution settlement date, the resulting gain, which is measured as the excess amount of the distribution liability over the then-carrying value of the net assets of the business distributed, was recognized on the line “Gain on distribution of Sandoz Group AG to Novartis AG shareholders” within the income statement of discontinued operations. The recognition of the distribution liability required the use of valuation techniques for the purposes of impairment testing of the Sandoz business’ assets to be distributed and for the measurement of the fair value of the distribution liability. These valuations required the use of management assumptions and estimates related to the Sandoz business’ future cash flows, market multiples, and the opening share price of Sandoz Group AG on the first day of trading its shares on the SIX Swiss Exchange, to estimate day one market value, and control premiums to apply in estimating the Sandoz business fair value. These fair value measurements are classified as “Level 3” in the fair value hierarchy. The section “—Goodwill and intangible assets other than goodwill” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. Transaction costs that are directly attributable to the Distribution (spin-off) of the Sandoz business to Novartis AG shareholders by way of a dividend in kind, and that would otherwise have been avoided, were accounted for as a deduction from equity (within retained earnings). Prior to the recognition of the distribution liability, these costs were recorded as prepaid expenses in the consolidated balance sheet. For additional disclosures, refer to the section “— Distribution of Sandoz Group AG to Novartis AG shareholders” in Note 2 and Note 29. 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 Company 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 “—Goodwill and intangible assets other than goodwill” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. Goodwill and intangible assets other than 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. Goodwill is allocated to groups of cash-generating units (CGUs) that is expected to benefit from the synergies of the combination, which are usually represented by the operating segment. Goodwill is tested for impairment at the level of this group of CGUs annually, or when facts and circumstances warrant, and any impairment charges are recorded under “Other expense” in the consolidated income statement. Purchased intangible assets other than goodwill are initially recorded at cost. Intangible assets that have been acquired through a business combination are initially recorded at fair value using the acquisition method of accounting. Intangible assets available for use with a definitive useful life (which includes the categories Currently marketed products and Other intangible assets) are amortized on a straight-line basis and evaluated for potential impairment whenever facts and circumstances indicate that their carrying value may not be recoverable. 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 as it is not yet available for use. It is evaluated for potential impairment on an annual basis or when facts and circumstances warrant. Once a project included in IPR&D has received marketing approval from a regulatory authority, it is transferred to the “Currently marketed products” category of 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. An estimate is therefore 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 Company’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 a patent, loss of exclusivity 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/decline 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 Company’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 and non-current financial assets Marketable securities are financial assets held for short-term purposes that 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 Company 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/loss 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 Company 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 Company enters into certain derivative financial instruments for the purpose of hedging to reduce volatility in the Company’s performance due to 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 aims 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 Company 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). 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 defined benefit pension plans and other post-employment benefit plans is included in the personnel expenses of the various functions in which employees are employed, and the net interest on the net defined benefit liability or asset is recognized as “Other expense” or “Other income.” Revenue recognition Revenue on the sale of Novartis products and services, which is recorded as net sales to third parties in the line “Net sales from continuing operations” 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. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these revenue deductions. These rebates and discounts, applied using provision rates, are estimated based on the terms and conditions in the individual government agencies, states, plans and customer agreements (which may be subject to challenge or change in interpretative guidance by government authorities, payers and customers), 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, channels and payers, as appropriate to the individual rebate and discount arrangements. These rebate provisions are adjusted based on established processes and experiences, for example from filing data with individual government agencies, states, and plans. There is often a time lag between the recording of revenue deductions and the final accounting for them. • 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. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these revenue deductions. They are calculated on the basis of historical experience and clinical data available for the product, as well as the 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 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. • 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. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these revenue deductions. 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 product to be destroyed versus product 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. The provisions for sales returns are adjusted periodically based on established processes and actual experience. 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, and is recognized when control transfers to the third party and our performance obligations are satisfied. 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 Company 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, China 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 maj

Significant acquisition of busi

Significant acquisition of businesses	12 Months Ended
	Dec. 31, 2024
Disclosure of significant transactions [abstract]
Significant transactions	2. Significant acquisitions of businesses and spin-off of Sandoz business The Company 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 acquisitions of businesses in 2024 Acquisition of Kate Therapeutics Inc. On October 31, 2024, Novartis acquired Kate Therapeutics Inc. (Kate Therapeutics), a US based, preclinical-stage biotechnology company focused on developing adeno-associated viruses (AAV) based gene therapies to treat genetically defined muscle and heart diseases. The purchase price consisted of a cash payment of USD 427 million (including purchase price adjustments of USD 2 million) and potential additional milestones of up to USD 700 million, which Kate Therapeutics shareholders are eligible to receive upon the achievement of specified development milestones. The fair value of the total purchase consideration was USD 518 million, consisting of a cash payment of USD 427 million and the fair value of contingent consideration of USD 91 million. The purchase price allocation resulted in net identifiable assets of USD 234 million, consisting primarily of IPR&D intangible assets of USD 135 million, other intangible assets (scientific infrastructure) of USD 135 million, cash and cash equivalents of USD 6 million, net deferred tax liabilities of USD 41 million and other net liabilities of USD 1 million. Goodwill amounted to USD 284 million. The results of operations since the date of acquisition were not material. Acquisition of Mariana Oncology Inc. On May 3, 2024, Novartis acquired Mariana Oncology Inc. (Mariana Oncology), a US based, preclinical-stage biotechnology company focused on developing novel radioligand therapies (RLTs) with a portfolio of RLT programs across a range of solid tumor indications. The purchase price consisted of a cash payment of USD 1.04 billion and potential additional milestones of up to USD 750 million, which Mariana Oncology shareholders are eligible to receive upon the achievement of specified milestones. The fair value of the total purchase consideration was USD 1.28 billion, consisting of a cash payment of USD 1.04 billion and the fair value of contingent consideration of USD 239 million. The purchase price allocation resulted in net identifiable assets of USD 754 million, consisting primarily of IPR&D intangible assets of USD 344 million, other intangible assets (scientific infrastructure) of USD 473 million, cash and cash equivalents of USD 80 million, net deferred tax liabilities of USD 133 million and other net liabilities of USD 10 million. Goodwill amounted to USD 528 million. The results of operations since the date of acquisition were not material. Acquisition of MorphoSys AG On February 5, 2024, Novartis entered into an agreement to acquire MorphoSys AG (MorphoSys), a Germany-based, global biopharmaceutical company developing innovative medicines in oncology. The acquisition of MorphoSys adds to our oncology pipeline pelabresib, a late-stage BET inhibitor for myelofibrosis and tulmimetostat, an early-stage investigational dual inhibitor of EZH2 and EZH1 for solid tumors or lymphomasis. On April 11, 2024, Novartis, through a subsidiary, commenced a voluntary public takeover offer (the “Offer”) to acquire all outstanding shares of MorphoSys for EUR 68 per share, representing a total consideration of approximately EUR 2.6 billion in cash on a fully diluted basis. The settlement of the Offer was conditional on a minimum acceptance threshold of 65% Novartis purchased during the Offer acceptance period MorphoSys shares on the market for a total amount of EUR 0.3 billion (USD 0.3 billion). The closing conditions of the Offer, including the minimum acceptance threshold of 65% 89.7% 10.3% In June 2024, outside the Offer Novartis purchased an additional 1.7% 91.4% On July 4, 2024, Novartis filed a public purchase offer to delist the MorphoSys shares admitted to trading on regulated markets and acquire all MorphoSys AG shares and American Depository Shares (ADS) not held directly by Novartis. In August 2024, the delisting of the MorphoSys shares admitted to trading on regulated markets was completed, and Novartis purchased an additional 3.2% 94.5% On October 15, 2024, the “squeeze-out” of the remaining minority shareholders of MorphoSys was completed by way of a merger into a wholly-owned Novartis entity. As a result, Novartis held 100% interests in equity were reduced to nil. On October 21, 2024, Novartis paid EUR 144 million (USD 156 million) to the former remaining minority shareholders in connection with the “squeeze-out.” The fair value of the total purchase consideration for the 89.7% The results of operations since the date of acquisition were not material. Following the completion of management’s analysis of the third-party integrated safety report related to certain clinical trial data readouts, that became available prior to closing of the MorphoSys acquisition, the necessity to perform an interim impairment test of the goodwill attributable to the MorphoSys business acquired at the provisional level of the grouping of CGUs of the MorphoSys business was triggered. This impairment test required the use of valuation techniques to estimate the fair value less cost of disposal of the MorphoSys business. These valuations required the use of management assumptions and estimates related to the MorphoSys business’ future cash flows and assumptions on, among others, discount rate ( 8.5% -15.0% Significant acquisitions of businesses in 2023 Acquisition of DTx Pharma, Inc. In the second quarter of 2023, Novartis entered into an agreement to acquire all outstanding shares of DTx Pharma, Inc. (DTx), a US based, pre-clinical stage biotechnology company focused on leveraging its proprietary FALCON platform to develop siRNA therapies for neuroscience indications. DTx’s lead program, DTx-1252 targets the root cause of CMT1A—the overexpression of PMP22, a protein that causes the myelin sheath that supports and insulates nerves in the peripheral nervous system to function abnormally. The transaction also includes two additional pre-clinical programs for other neuroscience indications. The transaction closed on July 14, 2023. The purchase price consisted of a cash payment of USD 0.6 billion and potential additional milestones of up to USD 0.5 billion, which the DTx shareholders are eligible to receive upon the achievement of specified milestones. The fair value of the total purchase consideration was USD 0.6 billion. The amount consisted of a cash payment of USD 0.6 billion and the fair value of contingent consideration of USD 30 million, which DTx shareholders are eligible to receive upon the achievement of specified milestones. The purchase price allocation resulted in net identifiable assets of USD 0.4 billion, consisting primarily of IPR&D intangible assets of USD 0.4 billion, cash of USD 0.1 billion and net deferred tax liabilities of USD 0.1 billion. Goodwill amounted to USD 0.2 billion. The 2023 results of operations since the date of acquisition were not material. Acquisition of Chinook Therapeutics, Inc On June 12, 2023, Novartis entered into an agreement to acquire all outstanding shares of Chinook Therapeutics, Inc. (Chinook Therapeutics), a US based clinical stage biopharmaceutical company with two late-stage medicines in development for rare, severe chronic kidney diseases. The acquisition closed on August 11, 2023. The purchase price consisted of a cash payment of USD 3.2 billion and potential additional payments of up to USD 0.3 billion, which Chinook Therapeutics shareholders are eligible to receive upon the achievement of specified milestones. The fair value of the total purchase consideration was USD 3.3 billion. The amount consisted of an upfront cash payment of USD 3.2 billion and the fair value of contingent consideration of USD 0.1 billion, which Chinook Therapeutics shareholders are eligible to receive upon achievement of specified milestones. The purchase price allocation resulted in net identifiable assets of USD 2.4 billion, consisting primarily of IPR&D intangible assets of USD 2.5 billion, net deferred tax liabilities of USD 0.4 billion and other net assets of USD 0.3 billion, including cash of USD 0.1 billion. Goodwill amounted to USD 0.9 billion. The 2023 results of operations since the date of acquisition were not material. Distribution of Sandoz Group AG to Novartis AG shareholders On July 18, 2023, Novartis announced that its Board of Directors had unanimously endorsed the proposed separation of the Sandoz business to create an independent company by way of a spin-off and to seek shareholder approval for the spin-off of the Sandoz business into a separately traded standalone company, following the complete structural separation of the Sandoz business into a standalone company (the Sandoz business or Sandoz Group AG) and subject to the satisfaction of certain conditions and Novartis AG shareholder approval. At the EGM held on September 15, 2023, Novartis AG shareholders approved a special distribution by way of a dividend in kind to effect the spin-off of Sandoz Group AG, subject to the completion of certain conditions precedent to the distribution. Upon shareholder approval, the Sandoz business was reported as discontinued operations and the distribution liability was recognized at its fair value, which exceeded the carrying value of the Sandoz business net assets. The conditions precedent to the spin-off were met and on October 3, 2023 the spin-off of the Sandoz business was effected by way of a distribution of a dividend in kind of Sandoz Group AG shares to Novartis AG shareholders and American Depositary Receipt (ADR) holders (the Distribution). Through the Distribution, each Novartis AG shareholder received one Sandoz Group AG share for every five Novartis AG shares and each Novartis ADR holder received one Sandoz ADR for every five Novartis ADR that they held at the close of business on October 3, 2023. As of October 4, 2023, the shares of Sandoz Group AG have been listed on the SIX Swiss Exchange (SIX) under the stock symbol “SDZ”. On September 18, 2023, the Sandoz business entered into financing arrangements with a group of banks under which on September 28, 2023, it borrowed a total amount of USD 3.3 billion. These borrowings consisted of a bridge loan in EUR (EUR 2.4 billion) and term loans in EUR (EUR 0.2 billion) and USD (USD 0.5 billion). In addition, the Sandoz business borrowed approximately USD 0.4 billion under a number of local bilateral facilities in different countries. This resulted in a total gross debt of USD 3.7 billion. These outstanding borrowings of the Sandoz business legal entities were recognized in the September 30, 2023 consolidated balance sheet within Liabilities related to discontinued operations and within financing activities cash flows from discontinued operations. Prior to the Distribution on October 3, 2023, Sandoz business legal entities paid approximately USD 3.3 billion in cash to Novartis and its affiliates through a series of intercompany transactions. At the Distribution date on October 3, 2023, the dividend in kind distribution liability to effect the Distribution (spin-off) of the Sandoz business amounted to USD 14.0 billion, measured by reference to the October 4, 2023 opening Sandoz Group AG share price and applying a control premium. The dividend in kind distribution liability was recorded as a reduction to equity (retained earnings) and remained in excess of the then carrying value of the Sandoz business net assets, which amounted to USD 8.6 billion (see Note 29). Certain consolidated foundations own Novartis AG dividend-bearing shares that restricts their availability for use by Novartis. These Novartis AG shares are accounted for as treasury shares. Through the Distribution, these foundations received Sandoz Group AG shares representing an approximate 4.31% The total non-taxable, non-cash gain recognized at the Distribution date of the spin-off of the Sandoz business amounted to USD 5.9 billion, which consists of: Oct 3, Net assets derecognized 1 -8 647 Derecognition of distribution liability 13 962 Difference between net assets and distribution liability 5 315 Recognition of Sandoz Group AG shares obtained through consolidated foundations 492 Currency translation gains recycled into the consolidated income statement 357 Transaction costs and other items recognized in the consolidated income statement -304 Gain on distribution of Sandoz Group AG to Novartis AG shareholders 5 860 1 For additional disclosures on discontinued operations, refer to Note 29. Significant transactions in 2022 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 the 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 the achievement of specified milestones. The purchase price allocation resulted in net identifiable assets of USD 0.9 billion, consisting primarily of IPR&D 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 2022 results of operations since the date of acquisition were not material. Fair value of assets and liabilities arising from acquisitions of businesses The following table presents the fair value of assets and liabilities acquired through acquisitions of businesses and the total purchase consideration for the years ended December 31, 2024 and 2023: (USD millions) 2024 2023 Property, plant and equipment 20 18 Right-of-use assets 47 16 In-process research and development 1 424 2 931 Other intangible assets 1 156 15 Deferred tax assets 465 34 Non-current financial and other assets 31 164 Trade receivables and financial and other current assets 613 183 Cash and cash equivalents 242 226 Deferred tax liabilities -799 -474 Current and non-current financial debts -852 Current and non-current lease liabilities -47 -51 Trade payables and other liabilities -297 -231 Net identifiable assets acquired 2 003 2 831 Non-controlling interests -75 Goodwill 2 701 1 094 Total purchase consideration for acquisitions of businesses 4 629 3 925 The significant business acquisitions in 2024, were Kate Therapeutics, Mariana Oncology and MorphoSys. The goodwill arising out of 2024 acquisitions is not tax deductible and is attributable to synergies, including the cost synergies from pre-acquisition in-licensed IP from MorphoSys, accounting for deferred tax liabilities on acquired assets, and the assembled workforce. In 2024, an impairment of goodwill was recognized related to the MorphoSys business acquisition of USD 0.9 billion. See Acquisition of MorphoSys AG section of this Note 2 for additional information. In 2023, the significant business acquisitions were the acquisition of DTx Pharma and Chinook Therapeutics. The goodwill arising out of these acquisitions is attributable to synergies, accounting for deferred tax liabilities on acquired assets and the assembled workforce. In 2023, no goodwill was tax deductible.

Operating segment

Operating segment	12 Months Ended
	Dec. 31, 2024
Disclosure of operating segments [abstract]
Operating segment	3. Operating segment Following the September 15, 2023, shareholder approval of the spin-off of the Sandoz business (see Note 1 and Note 2), the Company reported its consolidated financial statements as “continuing operations” and “discontinued operations” (see Note 1). Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business (previously the Innovative Medicines Division) and the continuing corporate activities. Discontinued operations include the Sandoz generic pharmaceuticals and biosimilars business (the Sandoz Division) and certain corporate activities attributable to Sandoz’s business, as well as certain expenses related to the spin-off. Included in 2023 is also the IFRS Accounting Standards non-cash, non-taxable net gain on the Distribution of Sandoz Group AG to Novartis AG shareholders. For further details and disclosures on discontinued operations, refer to Note 1, Note 2 and Note 29. The Company’s continuing operations are engaged in the research, development, manufacturing, distribution, commercialization and sale of innovative medicines, with a focus on the core therapeutic areas: cardiovascular, renal and metabolic; immunology; neuroscience; oncology; and established brands. Following the spin-off of the Sandoz business, on October 3, 2023, Novartis operates as a single global operating segment innovative medicines company that is engaged in the research, development, manufacturing, distribution and commercialization and sale of innovative medicines. The Company’s research, development manufacturing and supply of products and functional activities are managed globally on a vertically integrated basis. Commercial efforts that coordinate marketing, sales and distribution of these products are organized by geographic region, therapeutic area and established brands. The Executive Committee of Novartis (ECN), chaired by the CEO, is the governance body responsible for allocating resources and assessing the business performance of the operating segment of the Company on a global basis and is the chief operating decision-maker (CODM) for the Company. The determination of a single operating segment is consistent with the financial information regularly reviewed by the CODM for purposes of assessing performance and allocating resources. See Note 4 for revenues and geographic information disclosures.

Revenues and geographic informa

Revenues and geographic information	12 Months Ended
	Dec. 31, 2024
Disclosure of revenues and geographic information [abstract]
Revenues and geographic information	4. Revenues and geographic information Net sales information Net sales from continuing operations comprise the following: (USD millions) 2024 2023 2022 Net sales to third parties from continuing operations 50 317 44 635 41 385 Sales to discontinued operations 805 821 Net sales from continuing operations 50 317 45 440 42 206 Geographic information The following table shows countries that accounted for more than 5% of net sales from continuing operations for the years ended December 31, 2024, 2023 and 2022, or more than 5% of total of selected non-current assets, for the years ended December 31, 2024 and 2023: Net sales from continuing operations 1 Total of selected non-current assets 2 (USD millions) 2024 % 2023 % 2022 % 2024 % 2023 % Country Switzerland 1 315 3 1 308 3 1 036 2 18 759 30 19 396 32 United States 21 146 42 17 959 40 15 935 38 34 999 55 34 059 55 China 3 890 8 3 267 7 2 948 7 530 1 547 1 Germany 3 660 7 3 367 7 3 101 7 1 554 2 88 France 1 792 4 1 749 4 1 754 4 2 640 4 3 085 5 Other 18 514 36 17 790 39 17 432 42 4 603 8 4 389 7 Total 50 317 100 45 440 100 42 206 100 63 085 100 61 564 100 1 2 Net sales from continuing operations by region 1 The following table shows net sales from continuing operations by region for the years ended December 31, 2024, 2023 and 2022: Change Change US 21 146 17 959 18 15 935 13 Europe 15 557 14 997 4 14 371 4 Asia/Africa/Australasia 10 021 9 308 8 8 978 4 Canada and Latin America 3 593 3 176 13 2 922 9 Total 50 317 45 440 11 42 206 8 Of which in established markets 37 371 33 725 11 31 386 7 Of which in emerging growth markets 12 946 11 715 11 10 820 8 1 Information about major customers The Company’s largest, second-largest and third-largest customers account for approximately 17% 13% 7% 15% 13% 8% 16% 12% 8% The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 19% 12% 7% 17% 13% 8% Net sales from continuing operations by core therapeutic area and established brands 1 Change 1 Change Cardiovascular, renal and metabolic Entresto 7 822 6 035 30 4 644 30 Leqvio 754 355 112 112 217 Total cardiovascular, renal and metabolic 8 576 6 390 34 4 756 34 Immunology Cosentyx 6 141 4 980 23 4 788 4 Xolair 2 1 643 1 463 12 1 365 7 Ilaris 1 509 1 355 11 1 133 20 Total immunology 9 293 7 798 19 7 286 7 Neuroscience Kesimpta 3 224 2 171 49 1 092 99 Zolgensma 1 214 1 214 0 1 370 -11 Aimovig 312 266 17 218 22 Total neuroscience 4 750 3 651 30 2 680 36 Oncology Kisqali 3 033 2 080 46 1 231 69 Promacta/Revolade 2 216 2 269 -2 2 088 9 Tafinlar Mekinist 2 058 1 922 7 1 770 9 Jakavi 1 936 1 720 13 1 561 10 Tasigna 1 671 1 848 -10 1 923 -4 Pluvicto 1 392 980 42 271 262 Lutathera 724 605 20 471 28 Scemblix 689 413 67 149 177 Piqray/Vijoice 449 505 -11 373 35 Kymriah 443 508 -13 536 -5 Fabhalta 3 129 1 nm nm Total oncology 14 740 12 851 15 10 373 24 1 Change 1 Change Established brands Sandostatin 1 279 1 314 -3 1 238 6 Lucentis 1 044 1 475 -29 1 874 -21 Exforge 703 713 -1 743 -4 Galvus 602 692 -13 859 -19 Diovan 590 613 -4 652 -6 Gilenya 552 925 -40 2 013 -54 Contract manufacturing 4 1 152 1 490 -23 1 200 24 Other 4 7 036 7 528 -7 8 532 -12 Total established brands 4 12 958 14 750 -12 17 111 -14 Total net sales from continuing operations 50 317 45 440 11 42 206 8 1 2 Xolair 3 Fabhalta 4 Coartem nm = not meaningful Net sales from continuing operations of the top 20 brands in 2024 Brands Brand classification by therapeutic area or established brands Key indications US USD m Rest of world USD m Total USD m Entresto Cardiovascular, renal and metabolic Chronic heart failure, hypertension 4 052 3 770 7 822 Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA), hidradenitis suppurativa (HS) 3 530 2 611 6 141 Kesimpta Neuroscience Relapsing forms of multiple sclerosis (MS) 2 183 1 041 3 224 Kisqali Oncology HR+/HER2- metastatic breast cancer and early breast cancer 1 678 1 355 3 033 Promacta/Revolade Oncology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 1 181 1 035 2 216 Tafinlar Mekinist Oncology BRAF V600+ metastatic and adjuvant melanoma, advanced non-small cell lung cancer (NSCLC), tumor agnostic with BRAF mutation indication, pediatric low grade glioma (pLGG) 848 1 210 2 058 Jakavi Oncology Myelofibrosis (MF), polycythemia vera (PV), graft-versus-host disease (GvHD) 1 936 1 936 Tasigna Oncology Chronic myeloid leukemia (CML) 848 823 1 671 Xolair 1 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU), nasal polyps, food allergy (FA) 1 643 1 643 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD, gout) 798 711 1 509 Pluvicto Oncology PSMA-positive mCRPC patients post-ARPI, post-Taxane 1 157 235 1 392 Sandostatin Established brands Carcinoid tumors, acromegaly 805 474 1 279 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 435 779 1 214 Lucentis Established brands Age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO) 1 044 1 044 Leqvio Cardiovascular, renal and metabolic Atherosclerotic cardiovascular disease (ASCVD) 385 369 754 Lutathera Oncology GEP-NETs gastroenteropancreatic neuroendocrine tumors 513 211 724 Exforge Established brands Hypertension 8 695 703 Scemblix Oncology Philadelphia chromosome-positive chronic myeloid leukemia (Ph+ CML) in chronic phase (CP); Ph+ CML in CP with the T315I mutation 436 253 689 Galvus Established brands Type 2 diabetes (RMS) 602 602 Diovan Established brands Hypertension 28 562 590 Top 20 brands total 18 885 21 359 40 244 Rest of portfolio 2 261 7 812 10 073 Total net sales from continuing operations 21 146 29 171 50 317 1 Xolair Net sales from continuing operations of the top 20 brands in 2023 Brands Brand classification by therapeutic area or established brands Key indications US USD m Rest of world USD m Total USD m Entresto Cardiovascular, renal and metabolic Chronic heart failure, hypertension 3 067 2 968 6 035 Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA), hidradenitis suppurativa (HS) 2 636 2 344 4 980 Promacta/Revolade Oncology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 1 205 1 064 2 269 Kesimpta Neuroscience Relapsing-remitting multiple sclerosis (RRMS) 1 528 643 2 171 Kisqali Oncology HR+/HER2- metastatic breast cancer 1 032 1 048 2 080 Tafinlar Mekinist Oncology BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC), tumor agnostic with BRAF mutation indication 791 1 131 1 922 Tasigna Oncology Chronic myeloid leukemia (CML) 884 964 1 848 Jakavi Oncology Myelofibrosis (MF), polycytomia vera (PV), graft-versus-host disease (GvHD) 1 720 1 720 Lucentis Established brands Age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO) 1 475 1 475 Xolair 1 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU), nasal polyps 1 463 1 463 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD, gout) 686 669 1 355 Sandostatin Established brands Carcinoid tumors, acromegaly 829 485 1 314 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 372 842 1 214 Pluvicto Oncology PSMA-positive mCRPC patients post-ARPI, post-Taxane 921 59 980 Gilenya Established brands Relapsing multiple sclerosis (RMS) 359 566 925 Exforge Established brands Hypertension 13 700 713 Galvus Established brands Type 2 diabetes 692 692 Diovan Established brands Hypertension 52 561 613 Lutathera Oncology GEP-NETs gastroenteropancreatic neuroendocrine tumors 427 178 605 Gleevec/Glivec Established brands Chronic myeloid leukemia (CML), gastrointestinal stromal tumors (GIST) 150 411 561 Top 20 products total 14 952 19 983 34 935 Rest of portfolio 3 007 7 498 10 505 Total net sales from continuing operations 17 959 27 481 45 440 1 Xolair Net sales from continuing operations of the top 20 brands in 2022 Brands Brand classification by therapeutic area or established brands Key indications US USD m Rest of world USD m Total USD m Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA) 2 770 2 018 4 788 Entresto Cardiovascular, renal and metabolic Chronic heart failure, hypertension 2 354 2 290 4 644 Promacta/Revolade Oncology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 1 083 1 005 2 088 Gilenya Established brands Relapsing multiple sclerosis (RMS) 1 153 860 2 013 Tasigna Oncology Chronic myeloid leukemia (CML) 877 1 046 1 923 Lucentis Established brands Age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO) 1 874 1 874 Tafinlar Mekinist Oncology BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC), tumor agnostic with BRAF mutation indication 678 1 092 1 770 Jakavi Oncology 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 Oncology 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 Oncology 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 products total 12 753 19 384 32 137 Rest of portfolio 2 3 182 6 887 10 069 Total net sales from continuing operations 15 935 26 271 42 206 1 Xolair 2 Coartem Other revenues (USD millions) 2024 2023 2022 Profit-sharing income 1 063 941 921 Royalty income 37 87 35 Milestone income 28 45 145 Other 1 277 147 154 Total other revenues 1 405 1 220 1 255 1

Interest expense and other fina

Interest expense and other financial income and expense	12 Months Ended
	Dec. 31, 2024
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) 2024 2023 2022 Interest expense -871 -730 -642 Interest expense on lease liabilities -72 -62 -57 Expense arising from discounting long-term liabilities -68 -66 -103 Capitalized borrowing costs 5 3 2 Total interest expense from continuing operations -1 006 -855 -800 Other financial income and expense (USD millions) 2024 2023 2022 Interest income 568 627 377 Other financial income 1 92 21 19 Monetary loss from hyperinflation accounting -231 -194 -137 Financial expense -31 -18 -33 Currency result, net -258 -214 -184 Total other financial income and expense from continuing operations 140 222 42 1 2024 includes USD 78 million realized gain on commodities.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2024
Disclosure of Income Tax [abstract]
Income taxes	6. Income taxes Income before taxes (USD millions) 2024 2023 2022 Switzerland 10 098 9 719 5 751 Foreign 1 3 542 -596 1 426 Income before taxes from continuing operations 13 640 9 123 7 177 1 Current and deferred income tax expense The significant components of the provision for income taxes from continuing operations are as follows: (USD millions) 2024 2023 2022 Switzerland -897 -1 136 -598 Foreign -1 486 -1 290 -1 155 Current income tax expense -2 383 -2 426 -1 753 Switzerland -245 355 -131 Foreign 927 1 520 756 Deferred tax income 682 1 875 625 Income tax expense from continuing operations -1 701 -551 -1 128 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 Company’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 Company’s overall applicable tax rate and the effective tax rate are shown in the following table: (As a percentage) 2024 2023 2022 Applicable tax rate 12.3 15.0 15.3 Effect of disallowed expenditures 1.6 1.4 2.6 Effect of income taxed at reduced rates -0.2 -0.6 -0.4 Effect of income not subject to tax -0.1 -2.5 -0.1 Effect of tax credits and allowances -3.2 -3.9 -4.1 Effect of release of contingent consideration liability 0.0 -0.3 -0.5 Effect of tax rate change on current and deferred tax assets and liabilities 0.3 -1.6 0.0 Effect of derecognition and reversals of derecognition of deferred tax assets 1.4 0.9 1.3 Effect of write-down of investments in subsidiaries -1.2 -3.0 0.0 Effect of prior-year items -0.6 0.0 -0.3 Effect of changes in uncertain tax positions -1.8 0.1 1.7 Effect of other items 1 4.0 0.5 0.2 Effective tax rate from continuing operations 12.5 6.0 15.7 1 2024 includes the effect of tax charges related to the expansion of products in the Swiss Patent Box regime (+1.0%) and the effect of a non-deductible impairment of goodwill (+1.7%) The effective tax rate of Novartis fluctuates primarily as a result of, among other factors, changes in pre-tax income between countries with varying statutory tax rates and the effects of disallowed expenditures, income not subject to tax, tax credits and allowances, tax rate changes on current and deferred tax assets and liabilities, write-down of investments in subsidiaries, and changes in uncertain tax positions. The table above provides the details of the significant items that impact the comparability of the effective tax rate between years. In December 2021, the OECD issued model rules for a new global minimum tax framework (Pillar Two). Novartis is within the scope of the OECD Pillar Two model rules. A number of governments in countries in which Novartis operates are in the process of enacting or have enacted tax legislation to comply with Pillar Two. In December 2023, Switzerland partially implemented Pillar Two, whereby effective from January 1, 2024, a 15% On September 4, 2024, Switzerland enacted the Income Inclusion Rule (IIR) effective January 1, 2025, which complements the QDMTT. This IIR imposes a 15% The Pillar Two tax legislation enacted in 2024 and 2023 in Switzerland and other countries in which we operate had no material impact to the Company’s results of operations, financial condition and cash flows in 2024 and 2023. For disclosures on income taxes paid in 2024, 2023 and 2022, see Note 23.2.

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2024
Earnings per share [abstract]
Earnings per share	7. Earnings per share 2024 2023 2022 Net income attributable to shareholders of Novartis AG (USD millions) - Continuing operations 11 941 8 568 6 049 - Discontinued operations 6 282 906 Net income attributable to shareholders of Novartis AG (USD millions) 11 941 14 850 6 955 Number of shares (in millions) Weighted average number of shares outstanding used in basic earnings per share 2 018 2 077 2 181 Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options 17 15 16 Weighted average number of shares in diluted earnings per share 2 035 2 092 2 197 Basic earnings per share (USD) - Continuing operations 5.92 4.13 2.77 - Discontinued operations 3.02 0.42 Total basic earnings per share (USD) 5.92 7.15 3.19 Diluted earnings per share (USD) - Continuing operations 5.87 4.10 2.76 - Discontinued operations 3.00 0.41 Total diluted earnings per share (USD) 5.87 7.10 3.17 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 Company and held as treasury shares. For diluted EPS, the weighted average number of shares outstanding is adjusted to assume the vesting of dilutive restricted shares (RSs), restricted share units (RSUs) and performance share units (PSUs), and in 2022 also the conversion of potentially dilutive shares arising from options on Novartis shares under employee compensation plans that have been issued. In January 2023, all outstanding options under these plans expired. As a result, there were no options on Novartis shares issued or outstanding at December 31, 2024 and 2023. No RSs, RSUs or PSUs in 2024, 2023 and 2022, and no options in 2022 were excluded from the calculation of diluted EPS, as all were dilutive.

Changes in consolidated stateme

Changes in consolidated statements of comprehensive income	12 Months Ended
	Dec. 31, 2024
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 Company’s net income for the year as well as all other valuation adjustments recorded in the Company’s consolidated balance sheet, which under IFRS Accounting Standards 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, all net of taxes. Total value 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 Value adjustments recognized through other comprehensive income 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 recognized through equity in 2022 -4 34 30 30 Value adjustments at December 31, 2022 -198 -4 038 -760 -4 996 -38 -5 034 Fair value adjustments on equity securities, net of taxes of USD -6 1 37 37 37 Net investment hedge, net of taxes of USD 19 million -50 -50 -50 Defined benefit plans, net of taxes of USD 16 million -160 -160 -160 Currency translation effects, net of taxes of USD -6 8.1 1 373 1 373 2 1 375 Value adjustments recognized through other comprehensive income in 2023 37 -160 1 323 1 200 2 1 202 Fair value adjustments on equity securities sold, reclassified to retained earnings net of taxes of USD -7 1 1 1 Value adjustments related to divestments, net of taxes of USD -4 2 27 29 29 Value adjustments recognized through equity in 2023 3 27 30 30 Value adjustments at December 31, 2023 -158 -4 171 563 -3 766 -36 -3 802 Fair value adjustments on equity securities, net of taxes of USD -8 1 64 64 64 Cash flow hedge – losses recognized in other comprehensive income, net of taxes of USD 3 million 2 -24 -24 -24 Net investment hedge, net of taxes of USD -30 91 91 91 Defined benefit plans, net of taxes of USD -343 2 024 2 024 2 024 Currency translation effects, net of taxes of USD 6 million 8.1 -1 563 -1 563 -3 -1 566 Value adjustments recognized through other comprehensive income in 2024 64 2 024 -24 -1 472 592 -3 589 Fair value adjustments on equity securities sold, reclassified to retained earnings net of taxes of USD 8 million -81 -81 -81 Value adjustments recognized through equity in 2024 -81 -81 -81 Value adjustments at December 31, 2024 -175 -2 147 -24 -909 -3 255 -39 -3 294 1 2 Includes USD 1 million that was recycled through the income statement as the hedged item has affected interest expense. 8.1) In 2024, net cumulative currency translation losses of USD 5 million were recycled through the income statement as a result of the divestment of subsidiaries. In 2023, net cumulative currency translation gains of USD 358 million were recycled through the income statement, consisting of USD 357 million as a result of the spin-off of the Sandoz business through a dividend in kind distribution to Novartis AG shareholders (see Note 2), and of USD 1 million as a result of the divestment of subsidiaries. In 2022, net cumulative currency translation gains of USD 13 million were recycled through the income statement as a result of the divestment of subsidiaries.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2024
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 2024: Machinery At January 1, 2024 Cost 403 10 147 1 213 9 630 21 393 Accumulated depreciation and impairment -5 -5 251 -7 -6 616 -11 879 Net book value 398 4 896 1 206 3 014 9 514 At January 1, 2024 398 4 896 1 206 3 014 9 514 Impact of acquisitions of businesses 6 14 20 Reclassifications 1 136 -569 432 Additions 0 73 1 082 229 1 384 Disposals and derecognitions -4 -35 -19 -58 -116 Depreciation charge -327 -558 -885 Impairment charge -5 -13 -3 -27 -48 Reversal of impairment charge 1 1 Currency translation effects -19 -194 -94 -105 -412 At December 31, 2024 371 4 542 1 603 2 942 9 458 At December 31, 2024 Cost 376 9 526 1 610 9 046 20 558 Accumulated depreciation and impairment -5 -4 984 -7 -6 104 -11 100 Net book value 371 4 542 1 603 2 942 9 458 Commitments for purchases of property, plant and equipment 1 770 Capitalized borrowing costs 5 1 The estimated timing of the commitments for purchase of property, plant and equipment are as follows: 2025: USD 624 million, 2026: USD 115 million, 2027: USD 29 million, 2028: USD 2 million, 2029 and thereafter nil. The following table summarizes the movements of property, plant and equipment during 2023: Machinery At January 1, 2023 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 At January 1, 2023 442 5 493 1 157 3 672 10 764 Costs and accumulated depreciation/impairments on assets related to discontinued operations 1 -54 -422 -280 -588 -1 344 Impact of acquisitions of businesses 12 1 5 18 Reclassifications 197 -420 223 Additions 1 85 734 245 1 065 Disposals and derecognitions -16 -261 -20 -63 -360 Depreciation charge -343 -573 -916 Impairment charge -3 -36 -10 -57 -106 Reversal of impairment charge 3 9 4 16 Currency translation effects 25 162 44 146 377 At December 31, 2023 398 4 896 1 206 3 014 9 514 At December 31, 2023 Cost 403 10 147 1 213 9 630 21 393 Accumulated depreciation and impairment -5 -5 251 -7 -6 616 -11 879 Net book value 398 4 896 1 206 3 014 9 514 Commitments for purchases of property, plant and equipment 744 Capitalized borrowing costs 3 1 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. 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. The related depreciation expense is included in the costs of the functions using the asset. 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 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 property, plant and equipment depreciation charge, impairment charge and reversals of impairment charge for continuing operations for the years ended December 31, 2024, 2023 and 2022 1 (USD millions) 2024 2023 2022 Depreciation charge -885 -916 -967 Impairment charge -48 -106 -411 Impairment reversals 1 16 4 1

Right-of-use assets and lease l

Right-of-use assets and lease liabilities	12 Months Ended
	Dec. 31, 2024
Lease liabilities and Right of use assets Disclosure Abstract
Disclosure of leases [text block]	10. Right-of-use assets and lease liabilities The Company 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 Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease. The Company allocates the consideration in the lease contract to the lease and non-lease components on the basis of the relative standalone price of each component. 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 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. The following table summarizes the movements of the right-of-use assets: (USD millions) 2024 2023 Right-of-use assets at January 1 1 410 1 431 Costs and accumulated depreciation/impairments on assets related to discontinued operations 1 -117 Impact of acquisitions and divestments of businesses, net 42 16 Additions 304 421 Depreciation charge -257 -259 Impairment reversal/(charge) 1 -4 Lease contract terminations 2 -36 -93 Currency translation effects -49 15 Total right-of-use assets at December 31 1 415 1 410 1 2 The following table shows the right-of-use assets carrying value at December 31, 2024 and 2023, and the continuing operations depreciation charge for years 2024, 2023 and 2022, by underlying class of asset 1 December 31, December 31, Depreciation Depreciation Depreciation Land 472 483 11 12 16 Buildings 752 749 153 156 162 Vehicles 133 112 80 80 82 Machinery and equipment, and other assets 58 66 13 11 7 Total right-of-use assets 1 415 1 410 257 259 267 1 The following table shows the lease liabilities by maturity at December 31, 2024 and 2023: Interests for Interests for Less than one year 235 291 56 230 284 54 Between one and two years 203 252 49 203 248 45 Between two and three years 168 209 41 170 211 41 Between three and four years 117 153 36 149 184 35 Between four and five years 86 116 30 113 142 29 After five years 994 2 178 1 184 963 2 173 1 210 Total lease liabilities 1 803 3 199 1 396 1 828 3 242 1 414 Less current portion of lease liabilities -235 -291 -56 -230 -284 -54 Non-current portion of lease liabilities 1 568 2 908 1 598 2 958 Commitments for leases not yet commenced 1 123 89 1 The 2024 estimated timing of the commitments for leases not yet commenced are as follows: 2025 USD 57 million, 2026 USD 15 million, 2027 USD 4 million, 2028 USD 4 million, 2029 USD 4 million and thereafter USD 39 million. At December 31, 2024, and December 31, 2023, there were no material future cash outflows, including extension options, excluded from the measurement of lease liabilities. The Company’s most material lease with a lease term extension, representing a lease liability value of USD 0.7 billion (2023: USD 0.7 billion), has a determined lease term end date of 2071 (2023: 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 either 2024 or 2023. 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 2024, the Company completed two (2023: two, 2022: three) sale and leaseback transactions for certain property, plant and equipment as part of the Company’s facilities strategy. The transactions resulted in net cash inflows of USD 9 million (2023: USD 273 million, 2022: USD 49 million) and the recognition of USD 14 million of lease liabilities (2023: USD 146 million, 2022: USD 23 million), and USD 2 million of right-of-use assets (2023: USD 109 million, 2022: USD 13 million). 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 loss on the sale and leaseback transactions amounted to USD 10 million (2023: net gain USD 18 million, 2022: net gain USD 17 million). The following table provides additional disclosures related to continuing operations right-of-use assets and lease liabilities for 2024, 2023 and 2022: (USD millions) 2024 2023 2022 Interest expense on lease liabilities 1 72 62 57 Expense on short-term leases 7 5 3 Expense on low-value leases 5 6 6 Total cash outflows for leases 336 321 319 Thereof: Cash outflows for short-term leases and low-value leases 2 12 11 9 Payments of interest 3 62 52 48 Payments of lease liabilities 4 262 258 262 1 The weighted average interest rate is 4.0% (2023: 3.5%, 2022: 3.3%). Interest on lease liabilities as at December 31, 2024, is estimated to be USD 56 million for 2025 and USD 1.3 billion thereafter. 2 3 4 The net investment held and income from subleasing right-of-use assets, as well as income from leasing Novartis property, plant and equipment to third parties were not significant for 2024, 2023, or 2022.

Goodwill and intangible assets

Goodwill and intangible assets	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about intangible assets [abstract]
Goodwill and intangible assets	11. Goodwill and intangible assets other than goodwill Novartis has the following classes of available for use intangible assets other than goodwill: Currently marketed products and Other intangible assets. Currently marketed products represent the composite value of acquired intellectual property (IP), patents, distribution rights and product trade names. Other intangible assets include acquired scientific infrastructure, customer out-licensing contracts, and technologies and capitalized internally developed and acquired computer software. The following table summarizes the movements of goodwill and intangible assets other than goodwill in 2024: Goodwill Intangible assets other than goodwill In-process Currently Other At January 1, 2024 Cost 23 391 7 822 46 909 3 588 58 319 Accumulated amortization and impairment -50 -2 493 -26 892 -2 055 -31 440 Net book value 23 341 5 329 20 017 1 533 26 879 At January 1, 2024 23 341 5 329 20 017 1 533 26 879 Impact of acquisitions of businesses 2 701 1 424 1 156 2 580 Additions 1 1 116 263 764 2 143 Disposals and derecognitions 2 -91 -4 -95 Amortization charge -2 964 -493 -3 457 Impairment charge -910 -471 -52 -523 Reversal of impairment charge 9 9 Currency translation effects -376 -176 -322 -123 -621 At December 31, 2024 24 756 7 222 16 912 2 781 26 915 At December 31, 2024 Cost 25 665 9 621 45 462 5 123 60 206 Accumulated amortization and impairment -909 -2 399 -28 550 -2 342 -33 291 Net book value 24 756 7 222 16 912 2 781 26 915 1 Additions to currently marketed products include USD 0.1 billion of capitalized development costs. 2 The following table summarizes the movements of goodwill and intangible assets other than goodwill in 2023: Goodwill Intangible assets other than goodwill In-process Currently Other At January 1, 2023 Cost 29 596 7 092 58 249 4 343 69 684 Accumulated amortization and impairment -295 -2 671 -32 736 -2 633 -38 040 Net book value 29 301 4 421 25 513 1 710 31 644 At January 1, 2023 29 301 4 421 25 513 1 710 31 644 Costs and accumulated amortization/impairments on assets related to discontinued operations 1 -7 445 -235 -1 026 -199 -1 460 Impact of acquisitions of businesses 1 094 2 931 15 2 946 Reclassifications -235 23 212 Additions 2 770 290 516 1 576 Disposals and derecognitions 3 -1 842 -3 -1 845 Amortization charge -3 319 -641 -3 960 Impairment charge -2 544 -310 -194 -3 048 Currency translation effects 391 221 688 117 1 026 At December 31, 2023 23 341 5 329 20 017 1 533 26 879 At December 31, 2023 Cost 23 391 7 822 46 909 3 588 58 319 Accumulated amortization and impairment -50 -2 493 -26 892 -2 055 -31 440 Net book value 23 341 5 329 20 017 1 533 26 879 1 2 Additions to currently marketed products include USD 0.1 billion of capitalized development costs. 3 Xiidra As at December 31, 2024, the most significant intangible assets within the Currently marketed products category are Leqvio Zolgensma Leqvio Zolgensma The estimated useful life of Currently marketed products ranges from 5 to 20 years and amortization charges, impairments and impairment reversals are recognized in the consolidated income statement on the line “Cost of goods sold.” The estimated useful lives of Other intangible assets ranges from 3 to 15 years and amortization charges, impairments and impairment reversals are recognized in the consolidated income statement on the lines “Cost of goods sold,” “Selling, general and administration,” “Research and development” or “Other expense,” or for impairment reversals “Other income,” depending on the nature and use of the other intangible asset. Impairment charges for IPR&D are recorded in the consolidated income statement line “Research and development.” The Company has no indefinite useful life intangible asset other than goodwill. The Company’s cash-generating unit to which goodwill is allocated, as at December 31, 2024 and 2023, is at the level of the single global operating segment, which is comprised of a group of smaller cash-generating units. The valuation method of the recoverable amount of the operating segment to which goodwill is allocated is based on the fair value less costs of disposal. Any impairment charges are recorded under “Other expense” in the consolidated income statement. The following assumptions were used in the goodwill impairment testing calculation: (As a percentage) Terminal growth rate 1.3 Discount rate (post-tax) 7.0 The discount rates consider the Company’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 the cash-generating unit 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. Accounting policies—Goodwill and intangible assets other than goodwill” provides additional disclosures on how the Company performs goodwill and intangible asset impairment testing. The following table shows the intangible asset amortization charge, impairment charge and reversal of impairment charge for continuing operations for the years ended December 31, 2024, 2023 and 2022 1 (USD millions) 2024 2023 2022 Amortization charge -3 457 -3 960 -3 760 Impairment charge 2 -1 433 -3 048 -1 301 Reversal of impairment charge 9 1 2 2024 impairment charge included the write-down of IPR&D on the cessation of clinical research and clinical development programs and a USD 0.9 2023 impairment charge included the write-down of IPR&D on the cessation of clinical development programs, including PPY988 (USD 1.0 billion), which was acquired with the 2022 acquisition of Gyroscope Therapeutics Holdings plc (see Note 2), VDT482 (USD 0.4 billion), and MBG453 (USD 0.3 billion), and the clinical research program NIZ985 (USD 0.3 billion); as well as the write-down of a currently marketed product by USD 0.3 billion to reflect the reduction in its recoverable amount. 2022 intangible asset impairment charge included the write-down of IPR&D on the cessation of clinical development programs, including UNR844 (USD 0.6 billion).

Deferred tax assets and liabili

Deferred tax assets and liabilities	12 Months Ended
	Dec. 31, 2024
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, 2024 117 2 188 764 2 200 713 2 206 8 188 Gross deferred tax liabilities at January 1, 2024 -310 -4 228 -420 -77 -1 092 -6 127 Net deferred tax balance at January 1, 2024 -193 -2 040 344 2 123 713 1 114 2 061 At January 1, 2024 -193 -2 040 344 2 123 713 1 114 2 061 Credited/(charged) to income -23 615 9 272 -189 -2 682 Charged to equity -105 20 -85 Credited/(charged) to other comprehensive income -343 -9 -352 Impact of acquisitions of businesses -2 -479 263 -116 -334 Other movements 14 -11 -2 -2 -23 -8 -32 Net deferred tax balance at December 31, 2024 -204 -1 915 8 2 393 659 999 1 940 Gross deferred tax assets at December 31, 2024 130 2 591 688 2 464 659 2 344 8 876 Gross deferred tax liabilities at December 31, 2024 -334 -4 506 -680 -71 -1 345 -6 936 Net deferred tax balance at December 31, 2024 -204 -1 915 8 2 393 659 999 1 940 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 4 517 Deferred tax assets at December 31, 2024 4 359 Deferred tax liabilities at December 31, 2024 -2 419 Net deferred tax balance at December 31, 2024 1 940 Gross deferred tax assets at January 1, 2023 158 1 726 739 2 214 425 2 789 8 051 Gross deferred tax liabilities at January 1, 2023 -343 -4 785 -420 -138 -1 312 -6 998 Net deferred tax balance at January 1, 2023 -185 -3 059 319 2 076 425 1 477 1 053 At January 1, 2023 -185 -3 059 319 2 076 425 1 477 1 053 Net deferred tax balance related to discontinued operations 1 60 120 -36 -311 -13 -233 -413 Credited/(charged) to income -13 1 344 32 386 173 -47 1 875 Credited/(charged) to other comprehensive income -3 16 -34 -21 Impact of acquisitions of businesses -2 -530 111 -19 -440 Other movements -50 85 13 -28 17 -30 7 Net deferred tax balance at December 31, 2023 -193 -2 040 344 2 123 713 1 114 2 061 Gross deferred tax assets at December 31, 2023 117 2 188 764 2 200 713 2 206 8 188 Gross deferred tax liabilities at December 31, 2023 -310 -4 228 -420 -77 -1 092 -6 127 Net deferred tax balance at December 31, 2023 -193 -2 040 344 2 123 713 1 114 2 061 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 3 879 Deferred tax assets at December 31, 2023 4 309 Deferred tax liabilities at December 31, 2023 -2 248 Net deferred tax balance at December 31, 2023 2 061 1 Deferred tax liabilities have not been recognized for withholding tax and other taxes that would be payable on the remittance of earnings of foreign subsidiaries, insofar as the Company 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 Company’s foreign subsidiaries that would be subject to withholding tax or other taxes if remitted to the Company were estimated to be approximately USD 39 billion in 2024 (2023: USD 34 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 2024 total One year 19 3 22 Two years 59 88 147 Three years 24 26 50 Four years 1 2 337 399 2 736 Five years 97 1 136 1 233 More than five years 1 4 205 2 456 6 661 Not subject to expiry 783 1 103 1 886 Total 7 524 5 211 12 735 1 Unrecognized losses expiring in four years include USD 2.3 billion attributable to US state capital loss carry-forwards, and those expiring in more than five years include USD 4.0 billion attributable to US state tax loss carry-forwards. (USD millions) Unrecognized Recognized 2023 total One year 23 44 67 Two years 12 15 27 Three years 67 79 146 Four years 22 569 591 Five years 1 1 569 580 2 149 More than five years 1 2 891 2 975 5 866 Not subject to expiry 687 2 258 2 945 Total 5 271 6 520 11 791 1 Unrecognized losses expiring in five years include USD 1.5 billion attributable to US state capital loss carry-forwards, and those expiring in more than five years include USD 2.8 billion attributable to US state tax loss carry-forwards. (USD millions) 2024 2023 2022 Tax losses carried forward that expired 24 8 6 Deferred tax assets related to carry-forwards of tax losses and tax credits of relevant Company entities are recognized to the extent that 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, 2024
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) 2024 2023 Equity securities 746 1 403 Debt securities 53 29 Fund investments 210 190 Total financial investments 1 009 1 622 Long-term receivables from finance subleases 54 104 Other long-term receivables 179 214 Contingent consideration receivables 1 671 553 Long-term loans, advances and security deposits 102 114 Total financial assets 2 015 2 607 1 Other non-current assets (USD millions) 2024 2023 Deferred compensation plans 479 439 Prepaid post-employment benefit plans 1 2 604 545 Other non-current assets 422 215 Total other non-current assets 3 505 1 199 1

Inventories

Inventories	12 Months Ended
	Dec. 31, 2024
Inventories Disclosure [abstract]
Inventories	14. Inventories (USD millions) 2024 2023 Raw material, consumables 843 963 Work in progress 3 448 3 502 Finished products 1 432 1 448 Total inventories 5 723 5 913 The following table shows the amount of inventory recognized as an expense in “Cost of goods sold” in the consolidated income statements from continuing operations: (USD billions) 2024 2023 2022 Cost of goods sold -6.3 -5.8 -5.2 The following table shows the recognized amount of inventory provision and reversals of inventory provision recorded in the consolidated income statements from continuing operations: (USD millions) 2024 2023 2022 Inventory provisions -526 -467 -373 Reversals of inventory provisions 156 111 121 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, 2024
Disclosure of trade receivables [abstract]
Trade receivables	15. Trade receivables (USD millions) 2024 2023 Total gross trade receivables 7 481 7 158 Provisions for doubtful trade receivables -58 -51 Total trade receivables 7 423 7 107 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) 2024 2023 Not overdue 7 138 6 791 Past due for not more than one month 134 146 Past due for more than one month but less than three months 95 66 Past due for more than three months but less than six months 37 64 Past due for more than six months but less than one year 24 38 Past due for more than one year 53 53 Provisions for doubtful trade receivables -58 -51 Total trade receivables 7 423 7 107 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. In particular, we 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 Company to re-evaluate the expected credit loss amount of these trade receivables in future periods. At December 31, 2024, amounts past due for more than one year are not significant in elevated credit risk countries. Total trade receivables are denominated in the following major currencies: (USD millions) 2024 2023 US dollar (USD) 3 698 3 520 Euro (EUR) 1 144 1 138 Japanese yen (JPY) 470 288 Russian ruble (RUB) 212 240 British pound (GBP) 191 146 Chinese yuan (CNY) 172 231 Brazilian real (BRL) 130 130 Australian dollar (AUD) 96 96 Swiss franc (CHF) 54 84 Canadian dollar (CAD) 50 75 Other currencies 1 206 1 159 Total trade receivables 7 423 7 107

Marketable securities, commodit

Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents	12 Months Ended
	Dec. 31, 2024
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) 2024 2023 Commodities 111 Time deposits and short-term investments with original maturity more than 90 days 1 892 569 Derivative financial instruments 106 355 Total marketable securities, commodities, time deposits and derivative financial instruments 1 998 1 035 The vast majority of time deposits and short-term investments with an original maturity of more than 90 days was denominated in USD as at December 31, 2024, and 2023. Cash and cash equivalents (USD millions) 2024 2023 Current accounts 2 585 3 207 Time deposits and short-term investments with original maturity less than 90 days 8 874 10 186 Total cash and cash equivalents 11 459 13 393

Other current assets

Other current assets	12 Months Ended
	Dec. 31, 2024
Other current assets [abstract]
Other current assets	17. Other current assets (USD millions) 2024 2023 VAT receivable 478 462 Withholding tax recoverable 57 64 Prepaid expenses 985 764 Contingent consideration receivable 1 120 65 Other receivables and current assets 1 328 1 252 Total other current assets 2 968 2 607 1

Equity

Equity	12 Months Ended
	Dec. 31, 2024
Disclosure of equity [abstract]
Equity	18. Equity The following table shows the movement in the share capital: Movement Movement Movement Share capital 1 901 -11 890 -65 825 -32 793 Treasury shares -48 -44 -92 51 -41 -12 -53 Outstanding share capital 853 -55 798 -14 784 -44 740 1 At December 31, 2024 and 2023, the Novartis AG share capital consists of registered shares with a nominal value of CHF 0.49 each. Prior to the 2023 capital decrease (see Note 18.6), Novartis AG share capital at December 31, 2022 consisted 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 shares: 2024 2023 2022 Total Total 1 Total Total Total 1 Total Total Total 1 Total Balance at beginning of year 2 277.5 -233.5 2 044.0 2 403.7 -284.1 2 119.6 2 434.4 -199.5 2 234.9 Shares canceled for capital reduction 2 -87.5 87.5 -126.2 126.2 -30.7 30.7 Shares acquired to be canceled 3 -77.5 -77.5 -87.5 -87.5 -126.2 -126.2 Other share purchases 4 -1.2 -1.2 -1.6 -1.6 -1.4 -1.4 Exercise of options and employee transactions 5 18.8 2.8 2.8 1.9 1.9 Equity-based compensation plans 5 9.7 9.7 10.4 10.4 10.4 10.4 Shares delivered to Alcon employees 0.0 0.0 Shares delivered to Sandoz employees 0.1 0.1 0.3 0.3 Total movements -87.5 18.6 -68.9 -126.2 50.6 -75.6 -30.7 -84.6 -115.3 Balance at end of year 2 190.0 -214.9 1 975.1 2 277.5 -233.5 2 044.0 2 403.7 -284.1 2 119.6 1 Approximately 86.0 million treasury shares (2023: 93.8 million; 2022: 99.0 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 the CHF 10 billion share buyback authority approved at the 2021 Annual General Meeting (AGM), the additional CHF 10 billion authority approved at the 2022 AGM and the additional CHF 10 billion authority approved at the 2023 AGM. Since March 20, 2024, the share repurchases are executed under the authority approved at the 2023 AGM as all earlier authorizations are fully exhausted. 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. 2024 2023 2022 Dividend per share (in CHF) 3.30 3.20 3.10 Total dividend payment (in USD billion) 7.6 7.3 7.5 18.2) 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 per share value. 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. The following table summarizes the treasury shares movements: 2024 2023 2022 Number of Number of Number of Shares acquired to be canceled 1 -77.5 -8 316 -87.5 -8 369 -126.2 -10 787 Other share purchases 2 -1.2 -134 -1.6 -148 -1.4 -123 Purchase of treasury shares -78.7 -8 450 -89.1 -8 517 -127.6 -10 910 Exercise of options and employee transactions 3 18.8 2.8 146 1.9 88 Equity-based compensation plans 4 9.7 1 060 10.4 904 10.4 854 Shares delivered to Alcon employees 0.0 5 Shares delivered to Sandoz employees 0.1 12 0.3 30 Total -68.9 -7 378 -75.6 -7 437 -115.3 -9 963 1 Shares repurchased on the SIX Swiss Exchange second trading line under the CHF 10 billion share buyback authority approved at the 2021 Annual General Meeting (AGM), the additional CHF 10 billion authority approved at the 2022 AGM and the additional CHF 10 billion authority approved at the 2023 AGM. Since March 20, 2024, the share repurchases are executed under the authority approved at the 2023 AGM as all earlier authorizations are fully exhausted. 2 3 4 18.3) 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. 18.4) Other movements include, for subsidiaries in hyperinflationary economies, the impact of the application of IAS Standards 29 “Financial reporting in Hyperinflationary Economies.” See Note 28 for additional disclosures. 18.5) Transaction costs in 2023 of USD 214 million, net of tax of USD 29 million, that were directly attributable to the Distribution (spin-off) of the Sandoz business to Novartis AG shareholders and that would otherwise have been avoided, were recorded as a deduction from equity (retained earnings). See Note 1. 18.6) In 2023, in connection with the Distribution (spin-off) of the Sandoz business, Novartis AG shareholders approved at the EGM held on September 15, 2023, a decrease in Novartis AG share capital in the amount of CHF 22.8 million (USD 17.1 million). The capital decrease resulted in a reduction of the nominal value of the Novartis AG shares by CHF 0.01 from CHF 0.50 per share to CHF 0.49 per share. 18.7) 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, December 2022, and May 2023, and concluded in June 2023. Novartis was able to cancel this arrangement at any time but could have been 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. In June 2023, Novartis entered into an irrevocable, non-discretionary arrangement with a bank to repurchase 11.7 million Novartis shares on the second trading line, which concluded in July 2023. In July 2023, Novartis entered into a new irrevocable, non-discretionary arrangement with a bank to repurchase Novartis shares on the second trading line under its new up-to USD 15.0 billion share buyback. In June 2024, Novartis amended the arrangement to include the repurchase of an additional 8.7 million Novartis shares on the second trading line to mitigate the impact of share deliveries under the equity-based compensation plans for employees. These additional repurchases concluded in October 2024. Novartis was able to cancel this arrangement at any time but could have been subject to a 90-day waiting period. As of December 31, 2024 and 2023, 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, 2024 and 2023. 18.8) At December 31, 2022, the market maker held 3 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 at December 31, 2022, was USD 66.07 and they had contractual lives of 10 years, with remaining lives less than one year. In the first quarter of 2023, the market maker exercised 3 million written call options and as a result there were no written call options outstanding at December 31, 2023, and December 31, 2024.

Non-current financial debt

Non-current financial debt	12 Months Ended
	Dec. 31, 2024
Disclosure of financial liabilities [abstract]
Disclosure of financial liabilities [text block]	19. Non-current financial debt (USD millions) 2024 2023 Straight bonds 24 112 20 585 Other bonds 1 523 Total bonds 24 635 20 585 Other financial debt 87 42 Total, including current portion of non-current financial debt 24 722 20 627 Less current portion of non-current financial debt -3 356 -2 191 Total non-current financial debt 21 366 18 436 1 Average interest rate during the year 2024: 5.3% 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 Company is in compliance with these covenants. The percentage of fixed-rate financial debt to total financial debt was 84% The average interest rate on total financial debt in 2024 was 3.2% 2.9% Note 28 contains a maturity table of the Company’s future contractual interest payments commitments. The following table provides a breakdown of straight bonds: Notional 2024 2023 3.700% USD 500 2012 2042 Novartis Capital Corporation, New York, United States 98.325% 491 491 3.400% USD 2 150 2014 2024 Novartis Capital Corporation, New York, United States 99.287% 2 150 4.400% USD 1 850 2014 2044 Novartis Capital Corporation, New York, United States 99.196% 1 828 1 828 1.625% EUR 600 2014 2026 Novartis Finance S.A., Luxembourg, Luxembourg 99.697% 624 663 0.250% CHF 500 2015 2025 Novartis AG, Basel, Switzerland 100.640% 553 595 0.625% CHF 550 2015 2029 Novartis AG, Basel, Switzerland 100.502% 609 654 1.050% CHF 325 2015 2035 Novartis AG, Basel, Switzerland 100.479% 360 387 3.000% USD 1 750 2015 2025 Novartis Capital Corporation, New York, United States 99.010% 1 748 1 745 4.000% USD 1 250 2015 2045 Novartis Capital Corporation, New York, United States 98.029% 1 223 1 222 0.625% EUR 500 2016 2028 Novartis Finance S.A., Luxembourg, Luxembourg 98.480% 518 549 3.100% USD 1 000 2017 2027 Novartis Capital Corporation, New York, United States 99.109% 997 995 1.125% EUR 600 2017 2027 Novartis Finance S.A., Luxembourg, Luxembourg 99.874% 624 662 1.375% EUR 750 2018 2030 Novartis Finance S.A., Luxembourg, Luxembourg 99.957% 779 828 1.700% EUR 750 2018 2038 Novartis Finance S.A., Luxembourg, Luxembourg 99.217% 774 823 1.750% USD 1 000 2020 2025 Novartis Capital Corporation, New York, United States 99.852% 1 000 999 2.000% USD 1 250 2020 2027 Novartis Capital Corporation, New York, United States 99.909% 1 248 1 247 2.200% USD 1 500 2020 2030 Novartis Capital Corporation, New York, United States 99.869% 1 496 1 495 2.750% USD 1 250 2020 2050 Novartis Capital Corporation, New York, United States 97.712% 1 217 1 216 0.000% 1 EUR 1 850 2020 2028 Novartis Finance S.A., Luxembourg, Luxembourg 99.354% 1 918 2 036 1.600% CHF 650 2024 2027 Novartis AG, Basel, Switzerland 100.138% 719 1.650% CHF 435 2024 2031 Novartis AG, Basel, Switzerland 100.148% 481 1.750% CHF 645 2024 2034 Novartis AG, Basel, Switzerland 100.229% 714 1.850% CHF 280 2024 2040 Novartis AG, Basel, Switzerland 100.268% 310 1.850% CHF 190 2024 2049 Novartis AG, Basel, Switzerland 100.149% 210 3.800% USD 1 000 2024 2029 Novartis Capital Corporation, New York, United States 99.757% 995 4.000% USD 850 2024 2031 Novartis Capital Corporation, New York, United States 99.565% 844 4.200% USD 1 100 2024 2034 Novartis Capital Corporation, New York, United States 99.282% 1 088 4.700% USD 750 2024 2054 Novartis Capital Corporation, New York, United States 99.936% 744 Total straight bonds 24 112 20 585 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) 2024 2023 2024 2 191 2025 3 356 3 338 2026 678 663 2027 3 645 2 906 2028 2 495 2 585 2029 1 666 654 After 2029 12 882 8 290 Total 24 722 20 627 Breakdown by currency: (USD millions) 2024 2023 US dollar (USD) 15 495 13 388 Euro (EUR) 5 238 5 563 Swiss franc (CHF) 3 956 1 635 Others 33 41 Total 24 722 20 627 The following table shows the comparison of balance sheet carrying value and fair value of total non-current financial debt, including current portion: 2024 2024 2023 2023 Straight bonds 24 112 22 504 20 585 19 194 Others 610 610 42 42 Total 24 722 23 114 20 627 19 236 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, 2024
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) 2024 2023 Accrued liability for employee benefits: Defined benefit pension plans 1 1 571 1 815 Other long-term employee benefits and deferred compensation 591 546 Other post-employment benefits 1 311 369 Environmental remediation provisions 486 518 Provisions for product liabilities, governmental investigations and other legal matters 75 82 Contingent consideration 2 527 389 Other non-current liabilities 514 804 Total provisions and other non-current liabilities 4 075 4 523 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 Company’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) 2024 2023 2022 January 1 538 588 616 Provisions related to discontinued operations 1 -53 Cash payments 2 -4 -4 -6 Releases of provisions 3 -32 - 54 -18 Additions to provisions 4 30 14 6 Currency translation effects -34 47 -10 December 31 498 538 588 Less current provision -12 -20 -53 Non-current environmental remediation provisions at December 31 486 518 535 1 2 Cash payments from continuing operations were USD 5 million in 2022. 3 Releases of provisions credited to the consolidated income statement from continuing operations were USD 18 million in 2022. 4 Additions to provisions charged to the consolidated income statement from continuing operations were USD 6 million in 2022. 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 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, 2024, is currently projected as follows: Expected Due within two years 42 Due later than two years, but within five years 203 Due later than five years, but within 10 years 184 Due after 10 years 69 Total environmental remediation provisions 498 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 Company’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 Company 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. It is therefore, 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 Company 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 Company 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 Company 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 Company was able to make a reliable estimate of the possible loss or the range of possible loss, but the Company believes that publication of such information on a case-by-case basis would seriously prejudice the Company’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 27 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 2024. 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 for the S.D.N.Y. requesting the production of documents and information relating to marketing practices for Gilenya Lucentis/Avastin® matters In 2019, the French Competition Authority (FCA) issued a Statement of Objections against Novartis entities, alleging anti-competitive practices on the French market for anti-vascular endothelial growth factor treatments for wet age-related macular degeneration from 2008 to 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 appealed the FCA’s decision. In February 2023, the Paris Court of Appeal (Court) overturned the FCA’s decision which triggered the reimbursement of the originally paid fine (recorded as “Other income” in the Company’s consolidated income statement), and, in March 2023, the FCA appealed the Court’s decision. Novartis is the subject of similar investigations and proceedings involving the competition authority in Greece and is currently in an appeal process in Turkey. Novartis continues to vigorously contest all claims in both 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 healthcare providers (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; Novartis Hellas appealed the fine and, in September 2023, the Court overturned the decision and fine. The Greek State filed an appeal. 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 US Department of Justice 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 litigation NPC has brought litigation challenging a number of state statutes purporting to add further obligations on manufacturers under the federal 340B program as to the use of contract pharmacies in those states. NPC has also brought litigation challenging the federal government’s refusal to allow NPC to apply a rebate payment model for the 340B program. In addition, in 2021 and 2023, two medical centers filed Administrative Dispute Resolution proceedings against NPC, seeking the return of alleged overcharges resulting from NPC’s contract pharmacy policy. NPC has moved to dismiss these proceedings. Also in 2021, NPC received a civil investigative subpoena from the Office of the Attorney General of the State of Vermont (Vermont AG) requesting the production of documents and information concerning NPC’s participation in the 340B Drug Pricing Program in Vermont. NPC responded by providing documents and information to the Vermont AG in 2021 and there have been no further actions since that time. Inflation Reduction Act (IRA) litigation In 2023, following the U.S. government’s selection of Entresto Product liability litigation 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 340B Drug Pricing Program litigation 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 the Office of Inspector General of the US Department of Health and Human Services, which could result in the imposition of civil monetary penalties on NPC. The court 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 US Court of Appeals for the DC Circuit heard argument on the case in 2022. In May 2024, the US Court of Appeals for the DC Circuit issued a decision rejecting HRSA’s interpretation of the 340B statute and upholding NPC’s contract pharmacy policy. HRSA did not seek review from the US Supreme Court, and the decision is now final. Swiss and EU investigation In September 2022, the Swiss Competition Commission (COMCO) initiated an investigation of the acquisition of certain patents by Novartis from Genentech in April 2020 and their subsequent enforcement against Eli Lilly and other parties, allegedly in an attempt to protect Cosentyx Summary of product liability, governmental investigations and other legal matters provision movements (USD millions) 2024 2023 2022 January 1 124 702 397 Provisions related to discontinued operations 1 -97 Impact of acquisitions of businesses 4 Cash payments 2 -102 -448 -105 Releases of provisions 3 -12 -219 -52 Additions to provisions 4 160 170 466 Currency translation effects -6 16 -8 December 31 164 124 702 Less current portion -89 -42 -548 Non-current product liabilities, governmental investigations and other legal matters provisions at December 31 75 82 154 1 2 Cash payments from continuing operations were USD 67 million in 2022. 3 Releases of provisions credited to the consolidated income statement from continuing operations were USD 38 million in 2022. 4 Additions to provisions charged to the consolidated income statement from continuing operations were USD 435 million in 2022. 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. Discontinued operations On October 4, 2023, the separation and spin-off of the Sandoz business was completed (Note 2). Pursuant to the Separation and Distribution Agreement that Novartis and Sandoz entered into in connection with that separation and spin-off, Sandoz and Novartis agreed, subject to certain limitations, exclusions and conditions, that Sandoz would retain or assume (as applicable) liabilities, including pending and future claims that relate to the spun-off Sandoz business (whether arising prior to, at or after the date of execution of the Separation and Distribution Agreement). Additionally, pursuant to the Separation and Distribution Agreement, Sandoz agreed to indemnify Novartis and each of its directors, officers, managers, members, agents and employees against liabilities incurred in connection with the spun-off Sandoz business.

Current financial debt and deri

Current financial debt and derivative financial instruments	12 Months Ended
	Dec. 31, 2024
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) 2024 2023 Bank and other financial debt 1 642 624 Commercial paper 4 091 3 269 Current portion of non-current financial debt 3 356 2 191 Derivative financial instruments 143 91 Total current financial debt and derivative financial instruments 8 232 6 175 1 Weighted average interest rate during the year 2024: 20.8% (2023: 13.2%) 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 28.

Provisions and other current li

Provisions and other current liabilities	12 Months Ended
	Dec. 31, 2024
Disclosure of provisions and other current liabilities [abstract]
Provisions and other current liabilities	22. Provisions and other current liabilities (USD millions) 2024 2023 Provisions for deductions from revenue 7 004 6 315 Accruals for compensation and benefits, including social security 2 181 2 330 Accruals for royalties 1 099 844 Accrued expenses for goods and services received but not invoiced 901 1 026 Accruals for taxes other than income taxes 626 516 Restructuring provisions 424 703 Contingent consideration 1 281 14 Accrued share-based payments 262 322 Accrued interests on financial debt 169 116 Deferred income 127 98 Provisions for product liabilities, governmental investigations and other legal matters 2 89 42 Environmental remediation provisions 12 20 Other payables 879 820 Total provisions and other current liabilities 14 054 13 166 1 2 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) 2024 2023 2022 January 1 6 315 6 732 6 481 Provisions related to discontinued operations 1 -1 415 Effect of currency translation and business acquisitions and divestments -197 68 -210 Payments/utilizations 2 -19 829 -16 703 -22 261 Adjustments of prior years charged to income statement 3 -315 -206 -322 Current year income statement charge 4 21 157 17 798 23 072 Change in provisions offset against gross trade receivables 5 -127 41 -28 December 31 7 004 6 315 6 732 1 2 Payments/utilizations from continuing operations were USD 14 691 million in 2022. 3 Adjustments of prior years charged to income statement from continuing operations were USD 218 million in 2022. 4 Current year income statement charge from continuing operations were USD 15 231 million in 2022. 5 Change in provisions offset against gross trade receivables from continuing operations were USD 2 million in 2022. 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) 2024 2023 2022 January 1 703 1 131 345 Provisions related to discontinued operations 1 -51 Additions to provisions 2 362 658 1 368 Cash payments 3 -514 -816 -468 Releases of provisions 4 -100 -193 -42 Transfers 5 -57 - 53 Currency translation effects -27 31 -19 December 31 424 703 1 131 1 2 Additions to provisions charged to the consolidated income statement from continuing operations were USD 1.3 billion in 2022. 3 Cash-payments from continuing operations were USD 421 million in 2022. 4 Releases of provisions credited to the consolidated income statement from continuing operations were USD 33 million in 2022. 5 Transfers from continuing operations were USD 53 million in 2022. 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 and release of provisions are included in “Other income” in the consolidated income statements. In 2024, additions to provisions of USD 362 million were mainly related to the continuation of the initiative announced in April 2022 to implement a new streamlined organizational model designed to support innovation, growth and productivity. In 2023, additions to provisions of USD 658 million were mainly related to the continuation of the initiative announced in April 2022 to implement a new streamlined organizational model designed to support innovation, growth and productivity. 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 2021 restructuring initiatives.

Details to the consolidated sta

Details to the consolidated statements of cash flows	12 Months Ended
	Dec. 31, 2024
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 from continuing operations The following table shows the reversal of non-cash items and other adjustments in the consolidated statements of cash flows. (USD millions) 2024 2023 2022 Depreciation, amortization and impairments on: Property, plant and equipment 932 1 006 1 374 Right-of-use assets 256 263 270 Intangible assets 4 881 7 008 5 061 Financial assets 1 45 106 260 Change in provisions and other non-current liabilities 696 61 1 318 Gains on disposal on property, plant and equipment; intangible assets; other non-current assets; and other adjustments on financial assets and other non-current assets, net -74 -180 -308 Equity-settled compensation expense 1 044 865 791 Loss from associated companies 38 13 11 Income taxes 1 701 551 1 128 Net financial expense 866 633 758 Other -153 43 -32 Total 10 232 10 369 10 631 1 In 2024 and 2023, other than through business combinations, there were no additions to intangible assets with deferred payments (2022: USD 635 million). In 2024, there were USD 304 million (2023: USD 421 million; 2022: USD 216 million) additions to right-of-use assets recognized. 23.2) Total amount of income taxes paid In 2024, income taxes paid by continuing operations and the total Company were USD 2 258 million (discontinued operations were nil). In 2023, income taxes paid by continuing operations were USD 2 787 million and by discontinued operations were USD 162 million, which were included within “Net cash flows from operating activities from discontinued operations.” In 2023, income taxes paid by the total Company were USD 2 949 million. In 2022, income taxes paid by continuing operations were USD 1 702 million and by discontinued operations were USD 273 million, which were included within “Net cash flows from operating activities from discontinued operations.” In 2022, income taxes paid by the total Company were USD 1 975 million. 23.3) Cash flows from changes in working capital and other operating items included in the net cash flows from operating activities from continuing operations (USD millions) 2024 2023 2022 Increase in inventories -225 -546 -560 Increase in trade receivables -931 -1 504 -397 (Decrease)/increase in trade payables -105 479 -181 Change in other current and non-current assets -502 -125 -84 Change in other current liabilities 1 057 1 327 426 Total -706 -369 -796 23.4) Cash flows arising from acquisitions and divestments of businesses, net from continuing operations The following table is a summary of the cash flow impact of acquisitions and divestments of businesses. (USD millions) Note 2024 2023 2022 Total purchase consideration for acquisitions of businesses 2 -4 629 -3 925 -1 166 Acquired cash and cash equivalents 242 226 89 Fair value of previously held equity interests 26 21 Contingent consideration payables, net 377 146 224 Payments, deferred consideration and other adjustments, net -8 -34 0 Cash flows used for acquisitions of businesses 1 -4 018 -3 561 -832 Cash flows from/(used for) divestments of businesses, net 2 107 3 -8 Cash flows used for acquisitions and divestments of businesses, net -3 911 -3 558 -840 1 2024 includes the payments for purchases of MorphoSys shares by Novartis during the Offer period totaling EUR 0.3 billion (USD 0.3 billion), see Note 2 for further information. Also included in 2024, is a payment of EUR 53 million (USD 58 million) in relation to the MorphoSys acquisition. 2 In 2024, USD 107 million represented net cash inflows from divestments made during that year and in previous years. In 2024, the net identifiable assets of divested businesses amounted to USD 142 million, comprised of non-current assets of USD 159 million, current assets of USD 48 million, including USD 8 million cash and cash equivalents and of non-current and current liabilities of USD 65 million. In 2023, USD 3 million represented net cash inflows from divestments in previous years. In 2022, USD 8 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 12 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 139 million, comprised of non-current assets of USD 127 million, current assets of USD 70 million, including USD 62 million cash and cash equivalents and of non-current and current liabilities of USD 58 million. The deferred sale price receivable and other adjustments amounted to USD 19 million. Note 2 provides further information regarding significant acquisitions and divestments of businesses. All acquisitions were for cash. 23.5) Reconciliation of liabilities arising from financing activities 2024 2023 2022 Derivative Derivative Derivative January 1 24 520 91 1 828 26 120 55 1 789 29 129 68 1 896 Financial debts, derivative financial instruments and lease liabilities related to discontinued operations 1 -214 -1 -98 Proceeds from non-current financial debts 2 6 143 16 Repayments of the current portion of non-current financial debts 3 -2 160 -2 223 -2 575 Change in current financial debts 4 958 546 295 Repayments of other current financial debts -289 Payments of lease liabilities 5 -262 -258 -295 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities 6 -62 -52 -51 New, modified and terminated leases, net 241 349 222 Impact of acquisitions and divestments of businesses, net 852 42 51 12 Changes in fair values, lease interest and other changes, net -8 52 72 -2 37 28 -13 60 Amortization of bonds discount 33 17 22 Currency translation effects -594 -56 276 19 -767 -55 December 31 29 455 143 1 803 24 520 91 1 828 26 120 55 1 789 Non-current 7 21 366 1 568 18 436 1 598 20 244 1 538 Current 7 8 089 143 235 6 084 91 230 5 876 55 251 1 2 Proceeds from non-current financial debts included in the consolidated statements of cash flows from continuing operations were nil in 2022. 3 4 Changes in current financial debts included in the consolidated statements of cash flows from continuing operations were USD 252 million in 2022 which included net cash outflows from interest-bearing accounts of employees payable on demand amounting to USD 1.7 billion. 5 Payments of lease liabilities included in the consolidated statements of cash flows from continuing operations were USD 262 million in 2022. 6 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities within the consolidated statements of cash flows from continuing operations were USD 48 million in 2022. 7

Post-employment benefits for em

Post-employment benefits for employees	12 Months Ended
	Dec. 31, 2024
Disclosure of defined benefit plans [abstract]
Post-employment benefits for employees	24. Post-employment benefits for employees Defined benefit plans In addition to the legally required social security schemes, the Company 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 Company. For certain Company entities, 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 using the projected unit credit method. Plan assets are recognized at fair value. The major plans are based in Switzerland, the United States, the United Kingdom and Germany (2023: Switzerland, the United States, the United Kingdom, Germany and Japan), which represent 96% 96% 85% 84% Swiss-based pension plans represent the most significant portion of the Company’s total DBO and plan assets. For 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. The United States pension plans represent the second-largest component of the Company’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 Company 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, 2024 and 2023: Pension plans Other post-employment benefit plans (USD millions) 2024 2023 2024 2023 Benefit obligation at January 1 19 037 17 533 440 422 Benefit obligations related to discontinued operations 1 -529 -26 Current service cost 259 260 9 9 Interest cost 398 504 23 22 Past service costs and settlements -85 28 12 Administrative expenses 24 25 Remeasurement (gains)/losses arising from changes in the financial assumptions 2 431 1 350 -10 13 Remeasurement (gains)/losses arising from changes in demographic assumptions -98 -303 -14 Experience-related remeasurement losses/(gains) 76 23 -43 44 Currency translation effects -1 065 1 304 -13 4 Benefit payments -1 373 -1 384 -26 -34 Contributions of employees 176 174 Effect of acquisitions, divestments or transfers -5 52 Benefit obligation at December 31 17 775 19 037 392 440 Fair value of plan assets at January 1 19 934 18 945 71 60 Plan assets related to discontinued operations 1 -386 Interest income 369 514 3 2 Return on plan assets excluding interest income 682 175 7 10 Currency translation effects -1 187 1 524 Novartis contributions 381 408 26 33 Contributions of employees 176 174 Settlements -110 -35 Benefit payments -1 373 -1 384 -26 -34 Effect of acquisitions, divestments or transfers -4 -1 Fair value of plan assets at December 31 18 868 19 934 81 71 Funded status 1 093 897 -311 -369 Limitation on recognition of fund surplus at January 1 -2 167 -2 644 Limitation on recognition of fund surplus at January 1, related to discontinued operations 6 Change in limitation on recognition of fund surplus 3 2 034 740 Currency translation effects 100 -209 Interest income on limitation of fund surplus -27 -60 Limitation on recognition of fund surplus at December 31 4 -60 -2 167 Net asset/(liability) in the balance sheet at December 31 1 033 -1 270 -311 -369 1 2 3 4 In 2023, the most significant pension plans where the asset ceiling was required to be applied were in Switzerland and amounted to USD 2 112 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) 2024 2023 2024 2023 Net liability at January 1 -1 270 -1 232 -369 -362 Less: net liability related to discontinued operations 1 149 26 Current service cost -259 -260 -9 -9 Net interest expense -56 -50 -20 -20 Administrative expenses -24 -25 Past service costs and settlements -25 -63 -12 Remeasurements 273 -895 60 -33 Currency translation effects -22 11 13 -4 Novartis contributions 381 408 26 33 Effect of acquisitions, divestments or transfers 1 -53 Change in limitation on recognition of fund surplus 2 2 034 740 Net asset/(liability) at December 31 1 033 -1 270 -311 -369 Amounts recognized in the consolidated balance sheet Prepaid benefit cost 2 604 545 Accrued benefit liability -1 571 -1 815 -311 -369 1 2 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: 2024 2023 United Rest of United Rest of Benefit obligation at December 31 12 843 2 374 2 558 17 775 13 453 2 574 3 010 19 037 Thereof unfunded 501 378 879 538 390 928 By type of member Active 5 447 259 652 6 358 5 557 389 847 6 793 Deferred pensioners 743 824 1 567 770 912 1 682 Pensioners 7 396 1 372 1 082 9 850 7 896 1 415 1 251 10 562 Fair value of plan assets at December 31 15 225 1 746 1 897 18 868 15 892 1 835 2 207 19 934 Funded status 2 382 -628 -661 1 093 2 439 -739 -803 897 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: 2024 2023 United Rest of United Rest of Benefit obligation at December 31 314 78 392 356 84 440 Thereof unfunded 233 78 311 285 84 369 By type of member Active 28 10 38 30 10 40 Deferred pensioners 1 1 Pensioners 286 68 354 325 74 399 Fair value of plan assets at December 31 81 81 71 71 Funded status -233 -78 -311 -285 -84 -369 The following table shows the principal weighted average actuarial assumptions, for the major plans, used for calculating defined benefit plans and other post-employment benefits of employees: Pension plans Other post-employment benefit plans 2024 2023 2022 2024 2023 2022 Weighted average assumptions used to determine benefit obligations at December 31 Discount rate 1.9% 2.2% 3.0% 5.5% 5.5% 6.3% Expected rate of pension increase 0.3% 0.3% 0.4% Expected rate of salary increase 2.6% 3.0% 2.9% Interest on savings account 2.0% 1.3% 2.2% 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 volatility in the accounting for the Company’s pension plans in the consolidated financial statements. This can result in substantial changes in the Company’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. 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 Company’s actuaries use mortality tables that take into account historic patterns and expected changes, such as further increases in longevity. The mortality assumptions used for the pension plans in Switzerland were based on BVG 2020 tables with future improvements based on the Continuous Mortality Investigation (‘CMI’) model. For the pension and postretirement medical benefit plans in the US, 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 and Germany on an aggregated basis (2023 additionally includes Japan): Change in 2024 Change in 2023 25 basis point increase in discount rate -484 -528 25 basis point decrease in discount rate 511 557 One-year increase in life expectancy 611 644 25 basis point increase in rate of pension increase 329 366 25 basis point decrease in rate of pension increase -52 -61 25 basis point increase of interest on savings account 43 43 25 basis point decrease of interest on savings account -41 -42 25 basis point increase in rate of salary increase 41 41 25 basis point decrease in rate of salary increase -41 -42 The healthcare cost trend rate assumptions used for other post-employment benefits are as follows: 2024 2023 2022 Healthcare cost trend rate assumed for next year 6.5% 6.3% 6.5% 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 2033 2031 2031 The following table shows the fair value of plan asset allocation of funded defined benefit pension plans at December 31, 2024 and 2023 on an aggregated basis: (USD millions) 2024 2023 Equity securities 5 052 4 931 Debt securities 6 309 6 730 Real estate 3 775 3 821 Alternative investments 3 167 3 360 Cash and other investments 565 1 092 Total 18 868 19 934 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, based upon the local requirements and the market and economic environment, with the objective of achieving an investment return that, together with the contributions paid by the Company and its employees, is sufficient to maintain reasonable control over the various funding risks of the respective pension plans. 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 major plans defined benefit pension obligation is 12.0 years (2023: 12.3 years). The Company’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 plan that requires additional funding is in Germany. The expected future cash flows over the upcoming 10 years in respect of pension and other post-employment benefit plans at December 31, 2024, were as follows: Other post- Company contributions 2025 (estimated) 353 36 Expected future benefit payments 2025 1 400 36 2026 1 316 36 2027 1 152 36 2028 1 122 35 2029 1 096 34 2030–2034 5 079 160 Defined contribution plans In many subsidiaries, employees are covered by defined contribution plans. Contributions charged to the consolidated income statement for continuing operations for the defined contribution plans were: (USD millions) 2024 2023 2022 Contributions for defined contribution plans continuing operations 556 477 483 The Company’s total personnel costs for continuing operations amounted to USD 12.7 billion in 2024 (2023: USD 12.7 billion; 2022: USD 13.1 billion).

Equity-based participation plan

Equity-based participation plans for employees	12 Months Ended
	Dec. 31, 2024
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Equity-based participation plans for employees	25. Equity-based participation plans for employees The equity-based compensation expense from continuing operations related to all equity-based participation plans, and the liabilities arising from equity-based payment transactions were as follows: (USD millions) 2024 2023 2022 Expense related to equity-based participation plans 1 307 1 142 982 Liabilities arising from equity-based payment transactions 262 322 235 Equity-based participation plans can be separated into the following plans: Annual Incentive In 2024, 30% of the Annual Incentive for the Novartis Company CEO and other Executive Committee members (ECN) was required to be deferred in Novartis shares, after the CEO and Executive Committee members (ECN) have met their mandatory shareholding requirements, and the remainder was paid in cash. If the mandatory shareholding requirements were not met, 50% was required to be deferred in Novartis shares and the remainder was paid in cash. In 2023 and 2022 the Annual Incentive for the Novartis Company CEO and other Executive Committee members (ECN) was paid 50% in cash and 50% in Novartis restricted shares (RSs) or restricted share units (RSUs). In 2024 the Annual Incentive for a select portion of the Novartis management leadership team is paid 100% in cash. In 2023 and 2022, for a select portion of the Novartis management leadership team, the Annual Incentive was paid 70% in cash and 30% in RSs or RSUs. Both the ECN and a select portion of Novartis management leadership team can opt to invest up to the maximum cash portion of their Annual Incentive to receive further shares. From 2024 only a select portion of the Novartis management leadership team in Switzerland may invest its Annual Incentive in shares through the Employee Share Ownership Plan (ESOP). The cash portion of the Annual Incentive 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 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 the expiration of a three-year holding period for Novartis shares invested under the ESOP, participants receive one matching share for every two invested shares. Employees eligible for the equity plan “Select” and a select portion of the Novartis management leadership team are not eligible to receive ESOP matching shares. A select portion of Novartis management leadership team is eligible to invest the Annual Incentive in Novartis shares from 2024 onwards. The Novartis Company CEO and the other Executive Committee members 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 (ESPP). The ESPP enables employees to voluntarily purchase Novartis AG shares through payroll deductions at a 15% discounted price, up to a defined maximum amount. While the ESPP is global in scope, the first phase covered employees in North America (the US, Puerto Rico and Canada). Other countries’ employees became eligible to participate in the ESPP commencing in 2024, according to a multi-year phased implementation plan. 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 an equity grant. In 2024, the equity grants awarded under the “Select” plan are subject to a three-year staggered vesting period. In 2023 and 2022, equity grants awarded under the Select plan were subject to a three-year cliff vesting period, and for eligible employees of selected Company units a four-year staggered vesting period. Executive Committee members and a select portion of Novartis management leadership team 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. All tradable share options expired on their 10th anniversary from the grant date, which was in January 2023. As a result, at December 31, 2023, there were no outstanding options under the Novartis equity plan “Select.” Long-Term Performance Plan The Long-Term Performance Plan (LTPP) is a global equity plan for the ECN, a select portion of Novartis management leadership team and up to 2023 employees of Company 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. The performance criteria for the ECN are based on both Novartis internal performance metrics and variable 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. Only ECN members, as from performance cycle 2023, are subject to the TSR performance metric under the LTPP. 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. 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 selected employee is 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 (not applicable to ECN). 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 a similar value with a similar vesting period, and with or without a performance condition. Worldwide, employees at different levels in the organization were awarded RSs and RSUs in 2024, 2023 and 2022. In addition, in 2024, 2023 and 2022, 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. At the Sandoz Distribution date, all RSU and PSU holders, who were not entitled to the dividend in kind in the form of Sandoz Group AG shares received “keep whole awards” in Novartis AG shares to compensate for the loss of the Sandoz value from their Novartis AG shares. These keep whole awards were accounted for as a modification, which did not significantly change the fair value of the original grant. The change in fair value was measured by comparing the fair value of the grant before the spin-off against the fair value of the grant plus keep whole award right after spin-off. 2024 2023 Weighted Weighted Annual Incentive – RSU 0.2 96.7 0.3 74.2 – Restricted shares 0.1 107.8 0.1 92.3 Share savings plans – RSU 0.5 96.8 0.4 71.3 – Shares 1.3 107.8 1.0 92.3 Novartis Employee Share Purchase Plan 1 1.0 104.9 0.9 96.2 Select North America (RSU) 3.4 100.1 4.5 73.9 Select outside North America – RSU 1.4 100.2 1.9 73.3 – Restricted shares 0.6 107.8 0.6 92.3 Long-Term Performance Plan (PSU) 1.1 98.6 1.8 80.6 Other share awards – RSU 0.4 96.8 0.6 75.9 1 The Novartis Employee Share Purchase Plan (ESPP) enables employees to voluntarily purchase Novartis AG shares through payroll deductions at a 15% discount to the fair value of the Novartis AG share price at the respective ESPP grant dates. The weighted average fair value at grand date in USD in the table shows the weighted average Novartis AG share price at the respective ESPP grant dates during the year.

Transactions with related parti

Transactions with related parties	12 Months Ended
	Dec. 31, 2024
Disclosure of transactions between related parties [abstract]
Transactions with related parties	26. Transactions with related parties Novartis Pension Fund In 2018, a Company 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 As at December 31, 2024, there were 11 Executive Committee members (“Executive Officers”). During 2024, no Executive Officer stepped down. As at December 31, 2023, there were 11 Executive Officers. During 2023, 1 Executive Officer stepped down. As at December 31, 2022, there were 11 Executive Officers. During 2022, 5 Executive Officers stepped down. The total compensation for Executive Committee members and the 13 Non-Executive Directors (14 in 2023 and 15 in 2022) using the Company’s accounting policies for equity-based compensation and pension benefits was as follows: Executive Officers Non-Executive Directors Total (USD millions) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Cash and other compensation 19.0 18.0 25.0 4.9 4.9 4.6 23.9 22.9 29.6 Post-employment benefits 2.4 2.1 2.8 2.4 2.1 2.8 Equity-based compensation 61.9 62.2 42.6 5.4 5.0 4.8 67.3 67.2 47.4 Total 83.3 82.3 70.4 10.3 9.9 9.4 93.6 92.2 79.8 During 2024, there was a slight increase in the compensation expense for Executive Officers compared to 2023, mainly as a result of higher cash and other compensation paid for current Executive Officers. During 2023, there was an increase in the IFRS Accounting Standards compensation expense for Executive Officers compared with 2022, primarily driven by higher equity-based compensation, mainly due to higher realized and expected payouts on the achievement of the defined performance criteria, partly offset by lower cash and other compensation, due to lower accelerated expenses from stepped down Executive Officers compared with 2022. 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 are shown in the Compensation Report of the Company.

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and contingencies [abstract]
Commitments and contingencies	27. Commitments and contingent liabilities Research and development commitments The Company 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 that are specified in the agreements. As of December 31, 2024, the amount and estimated timing of the Company’s commitments to make payments under those agreements, which are shown without risk adjustment and on an undiscounted basis, were as follows: (USD millions) 2024 2025 135 2026 402 2027 739 2028 746 2029 653 Thereafter 8 123 Total 10 798 Commitments for capital calls The Company holds investments in funds in which it has committed to invest further upon future capital calls. As at December 31, 2024, the total uncalled capital commitments for the Company’s investments in funds amount to USD 63 million. Note 28 contains further information on the Company’s investments in funds. Other commitments The Company 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 the disclosure of property, plant and equipment purchase commitments, see Note 9. The Company routinely acquires interests in intellectual property focused on key disease areas and indications that the Company expects to be growth drivers in the future. The Company has a commitment related to a long-term research and development agreement that was entered into in the fourth quarter in 2024 that closed on January 11, 2025 totaling USD 1.9 billion, of which USD 1.0 billion was paid on January 17, 2025. Guarantees issued The Company has issued guarantees to third parties in the ordinary course of business, including for tax, customs or other governmental agencies. Contingent liabilities Novartis 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 pertaining to: pricing; bribery and corruption; trade regulation and embargo legislation; product liability; commercial disputes; employment and wrongful discharge; antitrust and competition; securities; government benefit programs; reimbursement; rebates; healthcare fraud; sales and marketing practices; insider trading; occupational health and safety; environmental regulations; tax; cyber and data security; use of technologies, including AI; data privacy; regulatory interactions; disclosure compliance; and intellectual property. As a result, the Company 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. Consequently, we may in the future incur judgments that could involve large payments, including the potential repayment of amounts allegedly obtained improperly, and other penalties, including treble damages, any of which could have a material adverse effect on our 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. Furthermore, when a 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 (or other similar types of agreements), which are intended to regulate company behavior for a period of years. Our affiliate Novartis Corporation is party to such an agreement, which will expire in 2025. In addition, 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 Novartis 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 Company’s financial position but could be material to the results of operations or cash flow in a given period. The Company’s potential environmental remediation liability is assessed based on a risk assessment and investigation of the various sites identified by the Company as at risk for environmental remediation exposure. The Company’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 Company 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, 2024
Financial Instruments - additional disclosure [abstract]
Disclosure of detailed information about financial instruments [text block]	28. Financial instruments – additional disclosures The following tables show the carrying values of financial instruments by measurement category as at December 31, 2024 and 2023. Except for straight bonds (see Note 19), the carrying values are equal to, or a reasonable approximation of, the fair values. 2024 Financial Cash and cash equivalents 16 11 409 50 Time deposits and short-term investments with original maturity more than 90 days 16 1 892 Trade receivables 15 7 423 Other receivables and current assets 17 1 286 42 Long-term financial investments - equity securities 13 464 282 Long-term financial investments - debt securities 13 27 26 Long-term financial investments - fund investments 13 210 Long-term loans, advances, security deposits and other long-term receivables 13 335 Associated companies at fair value through profit and loss 109 Derivative financial instruments 16 106 Contingent consideration receivables 13/17 791 Total financial assets 22 345 583 1 524 Bank and other short-term financial debt 21 642 Commercial paper 21 4 091 Straight bonds 19 24 112 Other bonds 19 523 Other financial debt 19 87 Trade payables 4 572 Contingent consideration liabilities 20/22 808 Derivative financial instruments 21 143 Lease liabilities 10 1 803 Total financial liabilities 34 027 951 1 803 2023 Financial Cash and cash equivalents 16 13 343 50 Time deposits and short-term investments with original maturity more than 90 days 16 569 Trade receivables 15 7 107 Other receivables and current assets 17 1 127 124 1 Long-term financial investments - equity securities 13 1 086 317 Long-term financial investments - debt securities 13 29 Long-term financial investments - fund investments 13 190 Long-term loans, advances, security deposits and other long-term receivables 13 432 Associated companies at fair value through profit and loss 101 Derivative financial instruments 16 355 Contingent consideration receivables 13/17 618 Total financial assets 22 578 1 289 1 582 Bank and other short-term financial debt 21 624 Commercial paper 21 3 269 Straight bonds 19 20 585 Other financial debt 19 42 Trade payables 4 926 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 491 Derivative financial instruments 21 91 Lease liabilities 10 1 828 Total financial liabilities 29 446 582 1 828 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 as at December 31, 2024 and 2023. 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 as at December 31, 2024 and 2023. Contract or underlying principal amounts Positive fair values Negative fair values (USD millions) 2024 2023 2024 2023 2024 2023 Forward foreign exchange rate contracts 10 194 11 944 81 335 -143 -91 Commodity purchase contracts 159 76 25 20 Total derivative financial instruments included in marketable securities and in current financial debts 10 353 12 020 106 355 -143 -91 The following table shows a breakdown by currency of the contract or underlying principal amounts of derivative financial instruments as at December 31, 2024 and 2023: 2024 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 1 024 1 717 7 453 10 194 Commodity purchase contracts 149 10 159 Total derivative financial instruments 1 173 1 727 7 453 10 353 2023 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 1 629 8 980 1 335 11 944 Commodity purchase contracts 61 15 76 Total derivative financial instruments 1 690 8 995 1 335 12 020 Derivative financial instruments effective for hedge accounting purposes At the end of 2024 and 2023, there were no open hedging instruments for anticipated transactions. Fair value by hierarchy As required by the IFRS Accounting Standards, 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 the 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. 2024 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents Debt securities 1 50 50 Total cash and cash equivalents at fair value 50 50 Marketable securities Derivative financial instruments 106 106 Total marketable securities and derivative financial instruments at fair value 106 106 Equity securities current 24 18 42 Current contingent consideration receivables 120 120 Long-term financial investments Debt and equity securities 193 7 599 799 Fund investments 15 195 210 Non-current contingent consideration receivables 671 671 Total long-term financial investments at fair value 208 7 1 465 1 680 Associated companies at fair value through profit and loss 109 109 Financial liabilities Current contingent consideration liabilities -281 -281 Derivative financial instruments -143 -143 Total current financial liabilities at fair values -143 -281 -424 Non-current contingent consideration liabilities -527 -527 Total non-current financial liabilities at fair value -527 -527 1 2023 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents Debt securities 1 50 50 Total cash and cash equivalents at fair value 50 50 Marketable securities Derivative financial instruments 355 355 Total marketable securities and derivative financial instruments at fair value 355 355 Fund investments and equity securities current 94 31 125 Current contingent consideration receivables 65 65 Long-term financial investments Debt and equity securities 796 20 616 1 432 Fund investments 7 183 190 Non-current contingent consideration receivables 553 553 Total long-term financial investments at fair value 803 20 1 352 2 175 Associated companies at fair value through profit and loss 101 101 Financial liabilities Contingent consideration liabilities -14 -14 Other financial liabilities current -88 -88 Derivative financial instruments -91 -91 Total current financial liabilities at fair value -91 -102 -193 Non-current contingent consideration liabilities -389 -389 Total non-current financial liabilities at fair value -389 -389 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: 2024 Associated January 1 101 184 647 618 -403 -88 Fair value gains and other adjustments, including from divestments recognized in the consolidated income statement 24 38 22 236 41 Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement -12 -14 -110 -100 Fair value adjustments recognized in the consolidated statement of comprehensive income, including currency translation effects -2 -2 -9 -39 7 Purchases 16 12 130 53 -376 Cash receipts and payments -77 23 88 Disposals -18 -21 -44 Reclassification -2 -19 December 31 109 195 617 791 -808 Total of fair value gains and losses recognized in the consolidated income statement for assets and liabilities held at December 31, 2024 12 24 -88 236 -59 2023 Associated January 1 129 261 699 650 -835 -232 Impact from discontinued operations 1 101 Fair value gains and other adjustments, including from divestments recognized in the consolidated income statement 4 1 11 48 552 Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement -28 -48 -63 -31 -65 -9 Fair value adjustments recognized in the consolidated statement of comprehensive income, including currency translation effects 2 3 71 -32 Purchases 9 14 82 -180 Cash receipts and payments -49 20 153 Disposals -6 -47 -80 36 Reclassification -9 -73 December 31 101 184 647 618 -403 -88 Total of fair value gains and losses recognized in the consolidated income statement for assets and liabilities held at December 31, 2023 -24 -47 -52 17 487 -9 1 During 2024, there were two transfers of equity securities from Level 3 to Level 1 for USD 19 million (2023: USD 63 million), due to the Initial Public Offering of the invested company or lift of certain restrictions. 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 gain and net loss recorded on associated companies, fund investments and long-term financial investments at fair value through profit and loss were USD 91 million and USD 136 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, 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 2024 consolidated income statement by USD 141 million and USD 135 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. Except for the investment in Sandoz Group AG with a fair value of USD 595 million as at December 31, 2023, these are made up of individually non-significant investments. In 2024, the consolidated foundations’ investments in Sandoz Group AG shares were fully sold, and the USD 169 million gain on disposal was transferred from other comprehensive income to retained earnings. As at December 31, 2024, the Company holds 52 non-listed equity securities (December 31, 2023: 61) and 16 listed equity securities (December 31, 2023: 28) in this category with the following fair values: (USD millions) 2024 2023 Listed equity securities 185 861 Non-listed equity securities 321 349 Total equity securities 506 1 210 During 2024 and 2023, dividends received from these equity securities were insignificant. In 2024, equity securities that were no longer considered strategic, with a fair value of USD 95 million (2023: USD 279 million), were sold, and the USD 70 million loss on disposal net of taxes (2023: USD 1 million gain) was transferred from other comprehensive income to retained earnings. In total, including the disposal of the Sandoz Group AG shares, a USD 81 million gain, net of taxes, 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 investments. The Company actively monitors and seeks to reduce, where it deems it appropriate to do so, fluctuations in these exposures. It is the Company’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 Company 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 Company uses the US dollar as its reporting currency. As a result, the Company 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 Company’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 Standards 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 Standards 29 are recorded in “Other financial income and expense” and are presented separately in Note 5 – Other financial income and expense. The Company 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 Company 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, 2024, long-term financial debt with a carrying amount of EUR 1.8 billion (USD 1.9 billion; December 31, 2023: USD 2.0 billion), has been designated as a hedge instrument. During 2024, USD 91 million of net of taxes unrealized gains (2023: USD 50 million losses) 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 2024 and 2022. In 2023, USD 8 million of accumulated net investment hedge reserve was recognized in the consolidated income statement at the time of the Sandoz spin-off. Commodity price risk The Company has only a very limited exposure to price risk related to anticipated purchases of certain commodities used as raw materials by the Company’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 Company 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 Company 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 Company 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 Company considers current and forward-looking macroeconomic factors that may affect the ability of customers to settle the receivables, and historical loss rates for each category of customers. The Company’s largest customer accounted for approximately 17% 13% 7% 15% 13% 8% 16% 12% 8% The highest amounts of trade receivables outstanding were for these same three customers and amounted to 19% 12% 7% 17% 13% 8% 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 Company has implemented a multi-currency payment system, Continuous Linked Settlement (CLS), which provides multilateral netting (payment-versus-payment settlement) of cash flows from foreign exchange transactions. The Company’s cash and cash equivalents are held with major regulated financial institutions, the three largest of which hold approximately 9.6% 7.9% 7.7% 8.3% 7.5% 7.4% The Company 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 Company could not be able to settle or meet its obligations associated with financial liabilities that are settled by delivering cash or another financial asset. Novartis 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 Company in the form of cash dividends, loans or advances, but these restrictions do not have an impact on the ability of the Company to meet its cash obligations. Management monitors the Company’s net debt or liquidity position through rolling forecasts on the basis of expected cash flows. Novartis has a US commercial paper program under which it can issue up to USD 9.0 billion in the aggregate of unsecured commercial paper notes. Under this program, commercial paper notes totaling USD 3.5 billion were outstanding as per December 31, 2024, (2023: USD 3.0 billion) with a weighted average interest rate of 4.5% 5.4% 0.5% 0.1% The following table sets forth how management monitors net debt or liquidity based on details of the remaining contractual maturities of selected financial assets and liabilities as at December 31, 2024, and December 31, 2023: 2024 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 1 858 34 1 892 Derivative financial instruments 37 38 7 24 106 Cash and cash equivalents 7 918 3 541 11 459 Total current financial assets 7 955 5 437 41 24 13 457 Non-current liabilities Financial debt -8 484 -12 882 -21 366 Financial debt - undiscounted -8 505 -13 010 -21 515 Total non-current financial debt -8 484 -12 882 -21 366 Current liabilities Financial debt -3 963 -1 620 -2 506 -8 089 Financial debt - undiscounted -3 963 -1 620 -2 508 -8 091 Derivative financial instruments -14 -129 -143 Total current financial debt -3 977 -1 749 -2 506 -8 232 Net debt 3 978 3 688 -2 465 -8 484 -12 858 -16 141 2023 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 12 516 41 569 Commodities 111 111 Derivative financial instruments 24 310 1 20 355 Cash and cash equivalents 7 641 5 752 13 393 Total current financial assets 7 677 6 578 42 131 14 428 Non-current liabilities Financial debt -9 492 -8 944 -18 436 Financial debt - undiscounted -9 522 -9 050 -18 572 Total non-current financial debt -9 492 -8 944 -18 436 Current liabilities Financial debt -3 328 -372 -2 384 -6 084 Financial debt - undiscounted -3 328 -372 -2 384 -6 084 Derivative financial instruments -43 -39 -9 -91 Total current financial debt -3 371 -411 -2 393 -6 175 Net debt 4 306 6 167 -2 351 -9 492 -8 813 -10 183 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 Company’s contractual undiscounted potential cash flows from derivative financial instruments to be settled on a gross basis are as follows: 2024 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 -3 421 -6 075 -475 -9 971 Potential inflows in various currencies - from financial derivative assets 3 443 5 948 640 10 031 2023 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 -4 329 -6 604 -556 -11 489 Potential inflows in various currencies - from financial derivative assets 4 311 6 841 623 11 775 Other contractual liabilities that are not part of management’s monitoring of the net debt or liquidity consist of the following items: 2024 Due later than Due later than Contractual interest on non-current financial debt, including current portion -141 -442 -1 884 -4 603 -7 070 Lease liabilities 1 -65 -170 -574 -994 -1 803 Trade payables -4 432 -140 -4 572 Contingent consideration liabilities -17 -264 -395 -132 -808 1 2023 Due later than Due later than Contractual interest on non-current financial debt, including current portion -64 -372 -1 258 -3 376 -5 070 Lease liabilities 1 -65 -165 -635 -963 -1 828 Trade payables -4 793 -133 -4 926 Contingent consideration liabilities -14 -205 -184 -403 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 at December 31, 2024, Moody’s Ratings rated the Company Aa3 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 Company 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 Company’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-61. The disclosures below illustrate the potential impact on the Company’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 Company uses the US dollar as its reporting currency. As a result, the Company 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 at December 31, 2024 and 2023 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) 2024 2023 5% increase in foreign currency exchange rates against USD -8 3 5% decrease in foreign currency exchange rates against USD 9 -3 As of December 31, 2024, the Company designated EUR 1.8 billion (December 31, 2023: 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) 2024 2023 5% increase in foreign currency exchange rates against USD 91 97 5% decrease in foreign currency exchange rates against USD -96 -102 Interest rate sensitivity Our portfolio of fixed-income instruments as at December 31, 2024, 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 2024 and 2023, 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 nor in a significant increase (decrease) of cash flows attributable to such 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 1.1 billion as at December 31, 2024 (December 31, 2023: USD 1.8 billion). The fair values of these investments are impacted by the volatility of the stock market, valuation parameters applied (for non-listed equities classified in Level 3 of the fair value hierarchy) 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) 2024 2023 15% increase in equity prices 90 91 15% decrease in equity prices -90 -91 A hypothetical increase or decrease of 15% (USD millions) 2024 2023 15% increase in equity prices 70 182 15% decrease in equity prices -70 -182

Discontinued operations

Discontinued operations	12 Months Ended
	Dec. 31, 2024
Disclosure of discontinued operations [abstract]
Discontinued operations	29. Discontinued operations Discontinued operations include the operational results from the Sandoz generic pharmaceuticals and biosimilars division and certain corporate activities attributable to the Sandoz business, as well as certain other expenses related to the spin-off. Also included in 2023 is the IFRS Accounting Standards non-cash, non-taxable net gain on the distribution of Sandoz Group AG to Novartis AG shareholders (refer to Notes 1 and 2 for further details). The Sandoz business operated in the off-patent medicines segment and specialized in the development, manufacturing, and marketing of generic pharmaceuticals and biosimilars. The Sandoz business was organized globally into two franchises: Generics and Biosimilars. Net income from discontinued operations (USD millions) 2023 1 2022 Net sales to third parties from discontinued operations 7 128 9 160 Sales to continuing segments 300 212 Net sales from discontinued operations 7 428 9 372 Other revenues 19 28 Cost of goods sold -4 044 -4 937 Gross profit from discontinued operations 3 403 4 463 Selling, general and administration -1 728 -2 060 Research and development -671 -824 Other income 56 109 Other expense -795 -437 Operating income from discontinued operations 265 1 251 Income from associated companies 2 2 Interest expense -33 -37 Other financial income and expense -20 -22 Income before taxes from discontinued operations 214 1 194 Income taxes 2 208 -288 Net income from discontinued operations before gain on distribution of Sandoz Group AG to Novartis AG shareholders 422 906 Gain on distribution of Sandoz Group AG to Novartis AG shareholders 3 5 860 Net income from discontinued operations 6 282 906 1 2 The tax rate in 2023 was impacted by non-recurring items such as tax benefits arising from intercompany transactions to effect the spin-off of the Sandoz business, net decreases in uncertain tax positions of the Sandoz business and the favorable settlement of a tax matter related to the Alcon business, which was spun-off in 2019. Excluding these impacts, the tax rate would have been 31.2% in 2023, compared with 24.1% % in 2022. The tax rate in 2023 is higher than 2022 primarily due to a change in profit mix between years. 3 Net assets derecognized The following table presents the Sandoz business net assets derecognized as at October 3, 2023 Distribution (spin-off) date: Oct 3, Property, plant and equipment 1 447 Right-of-use assets 133 Goodwill 7 424 Intangible assets other than goodwill 1 481 Deferred tax assets 624 Financial assets, investments in associated companies and other non-current assets 142 Inventories 2 565 Trade receivables and other current assets 2 935 Cash and cash equivalents 686 Deferred tax liabilities -270 Current and non-current lease liabilities -139 Current and non-current financial debts -3 691 Trade payables, provisions, current income tax liabilities and other liabilities -4 690 Net assets derecognized 8 647 Supplemental disclosures related to discontinued operations Revenue In addition to the elements of variable consideration listed in the revenue accounting policy described in Note 1, the Sandoz business granted shelf stock adjustments to customers to cover the inventory held by them at the time a price decline becomes effective. Revenue deduction provisions for shelf stock adjustments were recorded when the price decline was anticipated, based on the impact of the price decline on the customer’s estimated inventory levels. Net income from discontinued operations Included in net income from discontinued operations are: (USD millions) 2023 1 2022 Interest income 2 2 Depreciation of property, plant and equipment -144 -196 Depreciation of right-of-use assets -32 -33 Amortization of intangible assets -171 -222 Impairment charges on property, plant and equipment -5 -3 Impairment charges on right-of-use assets -8 Impairment charges on intangible assets -44 -25 Impairment reversals of property, plant and equipment 1 3 Additions to restructuring provisions -27 -40 Equity-based compensation expense related to Novartis equity-based participation plans -60 -66 1 In 2023 and 2022 there were no reversals of impairment charges on right-of-use assets or on intangible assets of discontinued operations. Balance sheet The following table shows for discontinued operations the additions to property, plant and equipment, right-of-use assets and to goodwill and intangible assets: (USD millions) 2023 1 Additions to property, plant and equipment 245 Additions to right-of-use assets 66 Additions to goodwill and intangible assets 221 1 Financial debt The Sandoz business entered into financing agreements with a group of banks under which it borrowed on September 28, 2023 a total amount of USD 3.3 billion. See Note 2 for further disclosures. Net cash flows used in investing activities from discontinued operations Net cash flows used in investing activities from discontinued operations include the investing activities of the Sandoz business. In 2023, other cash flows used in investing activities, net includes cash outflows of USD 22 million (2022: USD 39 million) for the acquisitions and divestments of business, net. (USD millions) 2023 2022 Payments out of provision for transaction cost attributable to the spin-off of the Sandoz business -52 Derecognized cash and cash equivalents attributable to the spin-off of the Sandoz business -686 Other cash flows used in investing activities, net -385 -436 Net cash flows used in investing activities from discontinued operations -1 123 -436 Net cash flows from financing activities from discontinued operations In 2023, the net cash inflows from financing activities from discontinued operations of USD 3.3 billion (2022: USD 119 million) were mainly driven by USD 3.6 billion cash inflows from bank borrowings (including the USD 3.3 billion Sandoz business borrowings from a group of banks on September 28, 2023) in connection with the Distribution (spin-off) of the Sandoz business to Novartis AG shareholders, partly offset by transaction cost payments of USD 0.2 billion (2022: nil) directly attributable to the Distribution (spin-off) of the Sandoz business (see Notes 1 and 2). For additional information related to the October 3, 2023 Distribution (spin-off) of the Sandoz business to Novartis AG shareholders, effected through a dividend in kind distribution of Sandoz Group AG shares to Novartis AG shareholders and ADR holders, refer to Note 1 and Note 2.

Events subsequent to the Decemb

Events subsequent to the December 31 consolidated balance sheet date	12 Months Ended
	Dec. 31, 2024
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, 2024, consolidated balance sheet date Dividend proposal for 2024 and approval of Novartis 2024 consolidated financial statements On January 30, 2025, the Novartis AG Board of Directors proposed the acceptance of the 2024 consolidated financial statements of Novartis for approval by the Annual General Meeting on March 7, 2025. Furthermore, also on January 30, 2025, the Board proposed a dividend of CHF 3.50 per share to be approved at the Annual General Meeting on March 7, 2025. If approved, the total dividend payments would amount to approximately USD 7.6 billion (2023: USD 7.6 billion), using the CHF/USD December 31, 2024, exchange rate. Significant transaction closed in January 2025 In the fourth quarter of 2024, Novartis entered into a long-term research and development agreement which closed on January 11, 2025. For additional information see Note 27.

Principal Group subsidiaries an

Principal Group subsidiaries and associated companies	12 Months Ended
	Dec. 31, 2024
Disclosure of subsidiaries [abstract]
Principal Group subsidiaries and associated companies	31. Novartis principal 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 Accounting Standards. It includes Novartis AG direct subsidiaries and its indirect subsidiaries, associated companies and consolidated foundations with total assets or net sales to third parties from continuing operations 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 Argentina Novartis Argentina S.A. Ciudad de 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% Austria Novartis Holding GmbH Vienna 5 EUR 35 000 100% Novartis Pharmaceutical Manufacturing GmbH Langkampfen EUR 763 070 100% Novartis Pharma GmbH Vienna EUR 1.1 m 100% Bangladesh Novartis (Bangladesh) Limited Gazipur 5 BDT 162.5 m 60% Belgium Novartis Pharma NV Vilvoorde EUR 7.1 m 100% Novartis Manufacturing NV Puurs-Sint-Amands 5 EUR 110.6 m 100% Bermuda Novartis Investment Ltd. Hamilton 2 USD 12 000 100% Triangle International Reinsurance Limited Hamilton CHF 1.0 m 100% Trinity River Insurance Co Ltd. Hamilton 5 USD 370 000 100% Brazil Novartis Biociências S.A. São Paulo BRL 507.1 m 100% Canada Novartis Pharmaceuticals Canada Inc. Montreal, Quebec CAD 420 717 100% Chile Novartis Chile S.A. Santiago de Chile 5 CLP 2.0 bn 100% China Beijing Novartis Pharma Co., Ltd. Beijing 5 USD 30.0 m 100% Novartis Pharmaceutical Technology Zhejiang Co., Ltd. Haiyan 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% Colombia Novartis de Colombia S.A. Santafé de Bogotá COP 7.9 bn 100% Czech Republic Novartis s.r.o. Prague 5 CZK 51.5 m 100% Denmark Novartis Healthcare A/S Copenhagen DKK 14.0 m 100% Dominican Republic Novartis Caribe, S.A. Santo Domingo 5 DOP 20.0 m 100% Ecuador Novartis Ecuador S.A. Quito USD 4.0 m 100% Egypt Novartis Pharma S.A.E. Cairo EGP 2.1 bn 99.98% Finland Novartis Finland Oy Espoo EUR 459 000 100% France Novartis Groupe France S.A.S. Rueil-Malmaison 5 EUR 903.0 m 100% Novartis Pharma S.A.S. Rueil-Malmaison EUR 43.4 m 100% Advanced Accelerator Applications S.A. Rueil-Malmaison EUR 9.6 m 99.23% Germany Novartis Business Services GmbH Nuremberg EUR 25 000 100% Novartis Pharma GmbH Nuremberg EUR 25.6 m 100% Novartis Pharma Produktions GmbH Wehr EUR 2.0 m 100% MorphoSys GmbH Planegg EUR 50 000 100% Greece Novartis (Hellas) S.A.C.I. Metamorphosis / Athens EUR 141.7 m 100% Share 1 Equity Hungary Novartis Hungary Healthcare Limited Liability Company Budapest HUF 545.6 m 100% India Novartis India Limited Mumbai 5 INR 123.5 m 70.68% Novartis Healthcare Private Limited Mumbai INR 60.0 m 100% Indonesia PT. Novartis Indonesia Jakarta IDR 10.6 bn 100% Ireland Novartis Ireland Limited Dublin EUR 25 000 100% Novartis Integrated Services Limited Cork City 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. Colleretto Giacosa EUR 119 000 99.23% Japan Novartis Pharma K.K. Tokyo JPY 100.0 m 100% Ciba-Geigy Japan Limited 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 USD 100.0 m 100% Novartis Finance S.A. Luxembourg City USD 100 000 100% Malaysia Novartis Corporation (Malaysia) Sdn. Bhd. Petaling Jaya 5 MYR 3.3 m 100% Mexico Novartis Farmacéutica, S.A. de C.V. Mexico City MXN 206.7 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% Aduro Netherlands Coöperatief U.A. Rosmalen 4 -- -- -- Aduro Biotech Holdings, Europe B.V. Rosmalen EUR 46 216 100% Calypso Biotech B.V. Amsterdam EUR 7 252 96.8% IDB Holland BV Baarle-Nassau EUR 18 000 99.23% New Zealand Novartis New Zealand Ltd Auckland 5 NZD 820 000 100% 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% Peru Novartis Biosciences Perú S.A. Lima 5 PEN 1.4 m 100% Philippines Novartis Healthcare Philippines, Inc. Makati City 5 PHP 298.8 m 100% Poland Novartis Poland Sp. z o.o. Warsaw PLN 44.2 m 100% Portugal Novartis Portugal, S.G.P.S., Lda. Porto Salvo 5 EUR 500 000 100% Novartis Farma - Produtos Farmacêuticos, S.A. Porto Salvo EUR 2.4 m 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 m 100% Saudi Arabia Novartis Saudi Company Riyadh SAR 30.0 m 100% Share 1 Equity Singapore Novartis (Singapore) Pte Ltd. Singapore 5 SGD 100 000 100% Novartis Singapore Pharmaceutical Manufacturing Pte Ltd Singapore SGD 80.0 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 Novartis farmacevtska proizvodnja d.o.o. Ljubljana EUR 50.0 m 100% South Africa Novartis South Africa (Pty) Ltd Midrand ZAR 86.3 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% Abadia Retuerta S.A. Sardón de Duero / Valladolid EUR 6.0 m 100% Sweden Novartis Sverige AB Stockholm 5 SEK 5.0 m 100% Switzerland Novartis International AG Basel 5 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 Kapital 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 100 000 100% Novartis Pharma AG Basel 2 / 5 CHF 350.0 m 100% Novartis Pharma Services AG Basel CHF 20.0 m 100% Novartis Pharma Schweizerhalle AG Muttenz 5 CHF 18.9 m 100% Novartis Pharma Stein AG Stein 5 CHF 251 000 100% Novartis Pharma Schweiz AG Risch CHF 5.0 m 100% Novartis BidCo AG Basel CHF 100 000 100% Pharmanalytica SA Locarno 5 CHF 240 000 100% Renor AG Basel 5 CHF 50 000 100% Calypso Biotech SA Plan-les-Ouates CHF 100 000 100% Cellerys AG Schlieren CHF 129 630 20% Novartis Innovative Therapies AG Risch 5 CHF 100 000 100% Advanced Accelerator Applications International SA Geneva CHF 9.3 m 99.23% Taiwan Novartis (Taiwan) Co., Ltd. Taipei 5 TWD 170.0 m 100% Thailand Novartis (Thailand) Limited Bangkok 5 THB 302.0 m 100% Turkey Novartis Saglik, Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. Istanbul TRY 448.0 m 100% Share 1 Equity United Arab Emirates Novartis Middle East FZE Dubai AED 7.0 m 100% United Kingdom Novartis UK Limited London 5 GBP 25.5 m 100% Novartis Pharmaceuticals UK Limited London GBP 5.4 m 100% Novartis Grimsby Limited London GBP 250.0 m 100% Gyroscope Therapeutics Limited London GBP 1 492 100% 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 2 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 4 -- -- -- Novartis Manufacturing LLC East Hanover, NJ 4 -- -- -- Novartis Institutes for BioMedical Research, Inc. Cambridge, MA USD 1 100% Kate Therapeutics Inc. San Diego, CA USD 100 100% Cadent Therapeutics, Inc. Cambridge, MA USD 0.1 100% Constellation Pharmaceuticals, Inc. Boston, MA USD 50 100% Endocyte, Inc. East Hanover, NJ USD 1 100% Mariana Oncology Inc. Watertown, MA USD 1 100% MorphoSys US Inc. Boston, MA USD 50 100% Navigate BioPharma Services, Inc. Carlsbad, CA USD 1 100% The Medicines Company East Hanover, NJ USD 1 100% Chinook Therapeutics, Inc. Seattle, WA USD 1 100% Chinook Therapeutics U.S., Inc. Seattle, WA USD 1 100% Uruguay Novartis Uruguay S.A. Montevideo 5 UYU 7.3 m 100% Venezuela Novartis de Venezuela, S.A. Caracas 5 VES 0 100% Vietnam Novartis Vietnam Company Limited Ho Chi Minh City VND 70 bn 100% In addition, the Company is represented by subsidiaries and associated companies with total assets or net sales to third parties from continuing operations below USD 25 million in the following countries: Bosnia and Herzegovina, Bulgaria, Cameroon, Cayman Island, Croatia, Ghana, Guatemala, Ivory Coast, Kazakhstan, Kenya, Kuwait, Nigeria, Senegal and Ukraine. 1 2 3 4 5 m = million; bn = billion

Accounting policies (Policies)

Accounting policies (Policies)	12 Months Ended
	Dec. 31, 2024
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 Company 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 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 using a functional currency other than USD, the subsidiary’s results, financial position and cash flows 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
Non-current assets held for sale or held for distribution to owners	Distribution of Sandoz Group AG to Novartis AG shareholders At the Extraordinary General Meeting (EGM) of Novartis AG shareholders, held on September 15, 2023, the Novartis AG shareholders approved a special distribution by way of a dividend in kind to effect the spin-off of Sandoz Group AG. The September 15, 2023, shareholder approval for the spin-off required the Sandoz Division and selected portions of corporate activities attributable to Sandoz’s business, as well as certain expenses related to the spin-off (the “Sandoz business”) to be reported as discontinued operations. The shareholder approval on September 15, 2023, for the spin-off the Sandoz business, required the recognition of a distribution liability at the fair value of the Sandoz business. Novartis policy is to measure the distribution liability at the fair value of the Sandoz business net assets taken as a whole. The distribution liability was recognized through a reduction in retained earnings. It was required to be adjusted at each balance sheet date for changes in its estimated fair value, up to the date of the distribution to shareholders through retained earnings. Any resulting impairment of the business assets to be distributed would have been recognized in the consolidated income statements in “Other expense” of discontinued operations, at the date of initial recognition of the distribution liability or at subsequent dates resulting from changes of the distribution liability valuation. At the October 4, 2023, distribution settlement date, the resulting gain, which is measured as the excess amount of the distribution liability over the then-carrying value of the net assets of the business distributed, was recognized on the line “Gain on distribution of Sandoz Group AG to Novartis AG shareholders” within the income statement of discontinued operations. The recognition of the distribution liability required the use of valuation techniques for the purposes of impairment testing of the Sandoz business’ assets to be distributed and for the measurement of the fair value of the distribution liability. These valuations required the use of management assumptions and estimates related to the Sandoz business’ future cash flows, market multiples, and the opening share price of Sandoz Group AG on the first day of trading its shares on the SIX Swiss Exchange, to estimate day one market value, and control premiums to apply in estimating the Sandoz business fair value. These fair value measurements are classified as “Level 3” in the fair value hierarchy. The section “—Goodwill and intangible assets other than goodwill” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. Transaction costs that are directly attributable to the Distribution (spin-off) of the Sandoz business to Novartis AG shareholders by way of a dividend in kind, and that would otherwise have been avoided, were accounted for as a deduction from equity (within retained earnings). Prior to the recognition of the distribution liability, these costs were recorded as prepaid expenses in the consolidated balance sheet. For additional disclosures, refer to the section “— Distribution of Sandoz Group AG to Novartis AG shareholders” in Note 2 and Note 29.
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 Company 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 “—Goodwill and intangible assets other than goodwill” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques.
Impairment of goodwill and intangible assets	Goodwill and intangible assets other than 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. Goodwill is allocated to groups of cash-generating units (CGUs) that is expected to benefit from the synergies of the combination, which are usually represented by the operating segment. Goodwill is tested for impairment at the level of this group of CGUs annually, or when facts and circumstances warrant, and any impairment charges are recorded under “Other expense” in the consolidated income statement. Purchased intangible assets other than goodwill are initially recorded at cost. Intangible assets that have been acquired through a business combination are initially recorded at fair value using the acquisition method of accounting. Intangible assets available for use with a definitive useful life (which includes the categories Currently marketed products and Other intangible assets) are amortized on a straight-line basis and evaluated for potential impairment whenever facts and circumstances indicate that their carrying value may not be recoverable. 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 as it is not yet available for use. It is evaluated for potential impairment on an annual basis or when facts and circumstances warrant. Once a project included in IPR&D has received marketing approval from a regulatory authority, it is transferred to the “Currently marketed products” category of 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. An estimate is therefore 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 Company’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 a patent, loss of exclusivity 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/decline 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 Company’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 and non-current financial assets Marketable securities are financial assets held for short-term purposes that 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 Company 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/loss 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 Company 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 Company enters into certain derivative financial instruments for the purpose of hedging to reduce volatility in the Company’s performance due to 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 aims 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 Company 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). 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 defined benefit pension plans and other post-employment benefit plans is included in the personnel expenses of the various functions in which employees are employed, and the net interest on the net defined benefit liability or asset is recognized as “Other expense” or “Other income.”
Revenue recognition	Revenue recognition Revenue on the sale of Novartis products and services, which is recorded as net sales to third parties in the line “Net sales from continuing operations” 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. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these revenue deductions. These rebates and discounts, applied using provision rates, are estimated based on the terms and conditions in the individual government agencies, states, plans and customer agreements (which may be subject to challenge or change in interpretative guidance by government authorities, payers and customers), 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, channels and payers, as appropriate to the individual rebate and discount arrangements. These rebate provisions are adjusted based on established processes and experiences, for example from filing data with individual government agencies, states, and plans. There is often a time lag between the recording of revenue deductions and the final accounting for them. • 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. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these revenue deductions. They are calculated on the basis of historical experience and clinical data available for the product, as well as the 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 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. • 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. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these revenue deductions. 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 product to be destroyed versus product 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. The provisions for sales returns are adjusted periodically based on established processes and actual experience. 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, 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 Company 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, China 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 and require plan participants to provide services during the vesting period. The performance criteria are based on Novartis internal performance metrics and, for certain plans, also 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. The expense is recognized in the consolidated income statement 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. The number of equity instruments that finally vest is determined at the vesting date. The following paragraphs provide an overview of the accounting policies for the determination of the components of the PSU share-based compensation plan expense. The portion of the PSUs expense that is subject to performance criteria based on Novartis internal performance metrics over the vesting period is determined based on assumptions concerning the expected performance against the internal performance metrics throughout the vesting period. The assumptions are based on the Company’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. For this portion of the PSUs expense, 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 expense during the entire vesting period represents the amount that will finally vest. The portion of the PSUs expense that is subject to performance criteria based on Novartis TSR relative to a specific peer group of companies over the vesting period is determined based on the total fair value of the grant over the vesting period. IFRS Accounting Standards require 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. For this portion of the PSUs expense, adjustments to expense recognized in the consolidated income statement are only made if a plan participant does not fulfill the service conditions. Measuring the fair values of PSUs granted that include TSR performance criteria requires the 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.
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 of subsidiaries 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 Company applies the IFRS Accounting Standards exception to not recognize or disclose information about deferred tax assets and liabilities related to Pillar Two income taxes. 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 Company 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 Accounting Standards, amendments and interpretations in 2024 No new IFRS Accounting Standards were adopted by the Company in 2024, 2023 and 2022. There were no new IFRS Accounting Standards amendments or interpretations that became effective in 2024, 2023 and 2022 that had a material impact on the Company’s consolidated financial statements. In 2024, the following new IFRS Accounting Standard, which is not yet effective, was issued by the International Accounting Standards Board: IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18 Presentation and Disclosure in Financial Statements was issued by the International Accounting Standards Board in April 2024. IFRS 18 will become effective on January 1, 2027, and is required to be applied retrospectively to comparative periods presented, with early adoption permitted. Upon adoption, IFRS 18 replaces International Accounting Standards (IAS ® IFRS 18 sets out new requirements focused on improving financial reporting by: • requiring additional defined structure to the statement of profit or loss (i.e. consolidated statement of income), to reduce diversity in the reporting, by requiring five categories (operating, investing, financing, income taxes and discontinued operations) and defined subtotals and totals (operating income, income before financing, income taxes and net income), • requiring disclosures in the notes to the financial statements about management-defined performance measures (i.e. non-IFRS measures), and • adding new principles for aggregation and disaggregation of information in the primary financial statements and notes. IFRS 18 will not impact the recognition or measurement of items in the financial statements, but it might change what an entity reports as its “operating profit or loss”, due to the classification of certain income and expense items between the five categories of the consolidated income statement. It might also change what an entity reports as operating activities, investing activities and financing activities within the statement of cash flows, due to the change in classification of certain cash flow items between these three categories of the cash flows statement. Novartis is currently assessing the impact of adopting IFRS 18. Based on the Company’s assessment, there were no other IFRS Accounting Standards, amendments or interpretations not yet effective in 2024, 2023 or 2022 that would have been expected to have a material impact on the Company’s consolidated financial statements.

Significant acquisition of bu_2

Significant acquisition of businesses (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of significant transactions [abstract]
Net gain at completion of spin-off	Oct 3, Net assets derecognized 1 -8 647 Derecognition of distribution liability 13 962 Difference between net assets and distribution liability 5 315 Recognition of Sandoz Group AG shares obtained through consolidated foundations 492 Currency translation gains recycled into the consolidated income statement 357 Transaction costs and other items recognized in the consolidated income statement -304 Gain on distribution of Sandoz Group AG to Novartis AG shareholders 5 860 1
Fair value of assets and liabilities arising from acquisitions	(USD millions) 2024 2023 Property, plant and equipment 20 18 Right-of-use assets 47 16 In-process research and development 1 424 2 931 Other intangible assets 1 156 15 Deferred tax assets 465 34 Non-current financial and other assets 31 164 Trade receivables and financial and other current assets 613 183 Cash and cash equivalents 242 226 Deferred tax liabilities -799 -474 Current and non-current financial debts -852 Current and non-current lease liabilities -47 -51 Trade payables and other liabilities -297 -231 Net identifiable assets acquired 2 003 2 831 Non-controlling interests -75 Goodwill 2 701 1 094 Total purchase consideration for acquisitions of businesses 4 629 3 925

Revenues and geographic infor_2

Revenues and geographic information (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of operating segments [abstract]
Net sales from continuing operations	(USD millions) 2024 2023 2022 Net sales to third parties from continuing operations 50 317 44 635 41 385 Sales to discontinued operations 805 821 Net sales from continuing operations 50 317 45 440 42 206
Net sales and total of selected non-current assets, by countries and regions	Net sales from continuing operations 1 Total of selected non-current assets 2 (USD millions) 2024 % 2023 % 2022 % 2024 % 2023 % Country Switzerland 1 315 3 1 308 3 1 036 2 18 759 30 19 396 32 United States 21 146 42 17 959 40 15 935 38 34 999 55 34 059 55 China 3 890 8 3 267 7 2 948 7 530 1 547 1 Germany 3 660 7 3 367 7 3 101 7 1 554 2 88 France 1 792 4 1 749 4 1 754 4 2 640 4 3 085 5 Other 18 514 36 17 790 39 17 432 42 4 603 8 4 389 7 Total 50 317 100 45 440 100 42 206 100 63 085 100 61 564 100 1 2
Net sales by region	Net sales from continuing operations by region 1 The following table shows net sales from continuing operations by region for the years ended December 31, 2024, 2023 and 2022: Change Change US 21 146 17 959 18 15 935 13 Europe 15 557 14 997 4 14 371 4 Asia/Africa/Australasia 10 021 9 308 8 8 978 4 Canada and Latin America 3 593 3 176 13 2 922 9 Total 50 317 45 440 11 42 206 8 Of which in established markets 37 371 33 725 11 31 386 7 Of which in emerging growth markets 12 946 11 715 11 10 820 8 1
Net sales	Net sales from continuing operations by core therapeutic area and established brands 1 Change 1 Change Cardiovascular, renal and metabolic Entresto 7 822 6 035 30 4 644 30 Leqvio 754 355 112 112 217 Total cardiovascular, renal and metabolic 8 576 6 390 34 4 756 34 Immunology Cosentyx 6 141 4 980 23 4 788 4 Xolair 2 1 643 1 463 12 1 365 7 Ilaris 1 509 1 355 11 1 133 20 Total immunology 9 293 7 798 19 7 286 7 Neuroscience Kesimpta 3 224 2 171 49 1 092 99 Zolgensma 1 214 1 214 0 1 370 -11 Aimovig 312 266 17 218 22 Total neuroscience 4 750 3 651 30 2 680 36 Oncology Kisqali 3 033 2 080 46 1 231 69 Promacta/Revolade 2 216 2 269 -2 2 088 9 Tafinlar Mekinist 2 058 1 922 7 1 770 9 Jakavi 1 936 1 720 13 1 561 10 Tasigna 1 671 1 848 -10 1 923 -4 Pluvicto 1 392 980 42 271 262 Lutathera 724 605 20 471 28 Scemblix 689 413 67 149 177 Piqray/Vijoice 449 505 -11 373 35 Kymriah 443 508 -13 536 -5 Fabhalta 3 129 1 nm nm Total oncology 14 740 12 851 15 10 373 24 1 Change 1 Change Established brands Sandostatin 1 279 1 314 -3 1 238 6 Lucentis 1 044 1 475 -29 1 874 -21 Exforge 703 713 -1 743 -4 Galvus 602 692 -13 859 -19 Diovan 590 613 -4 652 -6 Gilenya 552 925 -40 2 013 -54 Contract manufacturing 4 1 152 1 490 -23 1 200 24 Other 4 7 036 7 528 -7 8 532 -12 Total established brands 4 12 958 14 750 -12 17 111 -14 Total net sales from continuing operations 50 317 45 440 11 42 206 8 1 2 Xolair 3 Fabhalta 4 Coartem nm = not meaningful
Net sales of Top 20 products	Net sales from continuing operations of the top 20 brands in 2024 Brands Brand classification by therapeutic area or established brands Key indications US USD m Rest of world USD m Total USD m Entresto Cardiovascular, renal and metabolic Chronic heart failure, hypertension 4 052 3 770 7 822 Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA), hidradenitis suppurativa (HS) 3 530 2 611 6 141 Kesimpta Neuroscience Relapsing forms of multiple sclerosis (MS) 2 183 1 041 3 224 Kisqali Oncology HR+/HER2- metastatic breast cancer and early breast cancer 1 678 1 355 3 033 Promacta/Revolade Oncology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 1 181 1 035 2 216 Tafinlar Mekinist Oncology BRAF V600+ metastatic and adjuvant melanoma, advanced non-small cell lung cancer (NSCLC), tumor agnostic with BRAF mutation indication, pediatric low grade glioma (pLGG) 848 1 210 2 058 Jakavi Oncology Myelofibrosis (MF), polycythemia vera (PV), graft-versus-host disease (GvHD) 1 936 1 936 Tasigna Oncology Chronic myeloid leukemia (CML) 848 823 1 671 Xolair 1 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU), nasal polyps, food allergy (FA) 1 643 1 643 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD, gout) 798 711 1 509 Pluvicto Oncology PSMA-positive mCRPC patients post-ARPI, post-Taxane 1 157 235 1 392 Sandostatin Established brands Carcinoid tumors, acromegaly 805 474 1 279 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 435 779 1 214 Lucentis Established brands Age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO) 1 044 1 044 Leqvio Cardiovascular, renal and metabolic Atherosclerotic cardiovascular disease (ASCVD) 385 369 754 Lutathera Oncology GEP-NETs gastroenteropancreatic neuroendocrine tumors 513 211 724 Exforge Established brands Hypertension 8 695 703 Scemblix Oncology Philadelphia chromosome-positive chronic myeloid leukemia (Ph+ CML) in chronic phase (CP); Ph+ CML in CP with the T315I mutation 436 253 689 Galvus Established brands Type 2 diabetes (RMS) 602 602 Diovan Established brands Hypertension 28 562 590 Top 20 brands total 18 885 21 359 40 244 Rest of portfolio 2 261 7 812 10 073 Total net sales from continuing operations 21 146 29 171 50 317 1 Xolair Net sales from continuing operations of the top 20 brands in 2023 Brands Brand classification by therapeutic area or established brands Key indications US USD m Rest of world USD m Total USD m Entresto Cardiovascular, renal and metabolic Chronic heart failure, hypertension 3 067 2 968 6 035 Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA), hidradenitis suppurativa (HS) 2 636 2 344 4 980 Promacta/Revolade Oncology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 1 205 1 064 2 269 Kesimpta Neuroscience Relapsing-remitting multiple sclerosis (RRMS) 1 528 643 2 171 Kisqali Oncology HR+/HER2- metastatic breast cancer 1 032 1 048 2 080 Tafinlar Mekinist Oncology BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC), tumor agnostic with BRAF mutation indication 791 1 131 1 922 Tasigna Oncology Chronic myeloid leukemia (CML) 884 964 1 848 Jakavi Oncology Myelofibrosis (MF), polycytomia vera (PV), graft-versus-host disease (GvHD) 1 720 1 720 Lucentis Established brands Age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO) 1 475 1 475 Xolair 1 Immunology Severe allergic asthma (SAA), chronic spontaneous urticaria (CSU), nasal polyps 1 463 1 463 Ilaris Immunology Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD, gout) 686 669 1 355 Sandostatin Established brands Carcinoid tumors, acromegaly 829 485 1 314 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 372 842 1 214 Pluvicto Oncology PSMA-positive mCRPC patients post-ARPI, post-Taxane 921 59 980 Gilenya Established brands Relapsing multiple sclerosis (RMS) 359 566 925 Exforge Established brands Hypertension 13 700 713 Galvus Established brands Type 2 diabetes 692 692 Diovan Established brands Hypertension 52 561 613 Lutathera Oncology GEP-NETs gastroenteropancreatic neuroendocrine tumors 427 178 605 Gleevec/Glivec Established brands Chronic myeloid leukemia (CML), gastrointestinal stromal tumors (GIST) 150 411 561 Top 20 products total 14 952 19 983 34 935 Rest of portfolio 3 007 7 498 10 505 Total net sales from continuing operations 17 959 27 481 45 440 1 Xolair Net sales from continuing operations of the top 20 brands in 2022 Brands Brand classification by therapeutic area or established brands Key indications US USD m Rest of world USD m Total USD m Cosentyx Immunology Psoriasis (PsO), ankylosing spondylitis (AS), psoriatic arthritis (PsA), non-radiographic axial spondyloarthritis (nr-axSPA) 2 770 2 018 4 788 Entresto Cardiovascular, renal and metabolic Chronic heart failure, hypertension 2 354 2 290 4 644 Promacta/Revolade Oncology Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) 1 083 1 005 2 088 Gilenya Established brands Relapsing multiple sclerosis (RMS) 1 153 860 2 013 Tasigna Oncology Chronic myeloid leukemia (CML) 877 1 046 1 923 Lucentis Established brands Age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO) 1 874 1 874 Tafinlar Mekinist Oncology BRAF V600+ metastatic adjuvant melanoma, advanced non-small cell lung cancer (NSCLC), tumor agnostic with BRAF mutation indication 678 1 092 1 770 Jakavi Oncology 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 Oncology 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 Oncology 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 products total 12 753 19 384 32 137 Rest of portfolio 2 3 182 6 887 10 069 Total net sales from continuing operations 15 935 26 271 42 206 1 Xolair 2 Coartem
Other revenue	(USD millions) 2024 2023 2022 Profit-sharing income 1 063 941 921 Royalty income 37 87 35 Milestone income 28 45 145 Other 1 277 147 154 Total other revenues 1 405 1 220 1 255 1

Interest expense and other fi_2

Interest expense and other financial income and expense (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of Interest Expense and Other Financial Income and Expense [abstract]
Interest expense	(USD millions) 2024 2023 2022 Interest expense -871 -730 -642 Interest expense on lease liabilities -72 -62 -57 Expense arising from discounting long-term liabilities -68 -66 -103 Capitalized borrowing costs 5 3 2 Total interest expense from continuing operations -1 006 -855 -800
Other financial income and expense	(USD millions) 2024 2023 2022 Interest income 568 627 377 Other financial income 1 92 21 19 Monetary loss from hyperinflation accounting -231 -194 -137 Financial expense -31 -18 -33 Currency result, net -258 -214 -184 Total other financial income and expense from continuing operations 140 222 42 1 2024 includes USD 78 million realized gain on commodities.

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of Income Tax [abstract]
Income before taxes	(USD millions) 2024 2023 2022 Switzerland 10 098 9 719 5 751 Foreign 1 3 542 -596 1 426 Income before taxes from continuing operations 13 640 9 123 7 177 1
Current and deferred income tax expense	(USD millions) 2024 2023 2022 Switzerland -897 -1 136 -598 Foreign -1 486 -1 290 -1 155 Current income tax expense -2 383 -2 426 -1 753 Switzerland -245 355 -131 Foreign 927 1 520 756 Deferred tax income 682 1 875 625 Income tax expense from continuing operations -1 701 -551 -1 128
Analysis of tax rate	(As a percentage) 2024 2023 2022 Applicable tax rate 12.3 15.0 15.3 Effect of disallowed expenditures 1.6 1.4 2.6 Effect of income taxed at reduced rates -0.2 -0.6 -0.4 Effect of income not subject to tax -0.1 -2.5 -0.1 Effect of tax credits and allowances -3.2 -3.9 -4.1 Effect of release of contingent consideration liability 0.0 -0.3 -0.5 Effect of tax rate change on current and deferred tax assets and liabilities 0.3 -1.6 0.0 Effect of derecognition and reversals of derecognition of deferred tax assets 1.4 0.9 1.3 Effect of write-down of investments in subsidiaries -1.2 -3.0 0.0 Effect of prior-year items -0.6 0.0 -0.3 Effect of changes in uncertain tax positions -1.8 0.1 1.7 Effect of other items 1 4.0 0.5 0.2 Effective tax rate from continuing operations 12.5 6.0 15.7 1 2024 includes the effect of tax charges related to the expansion of products in the Swiss Patent Box regime (+1.0%) and the effect of a non-deductible impairment of goodwill (+1.7%)

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings per share [abstract]
Earnings per share	2024 2023 2022 Net income attributable to shareholders of Novartis AG (USD millions) - Continuing operations 11 941 8 568 6 049 - Discontinued operations 6 282 906 Net income attributable to shareholders of Novartis AG (USD millions) 11 941 14 850 6 955 Number of shares (in millions) Weighted average number of shares outstanding used in basic earnings per share 2 018 2 077 2 181 Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options 17 15 16 Weighted average number of shares in diluted earnings per share 2 035 2 092 2 197 Basic earnings per share (USD) - Continuing operations 5.92 4.13 2.77 - Discontinued operations 3.02 0.42 Total basic earnings per share (USD) 5.92 7.15 3.19 Diluted earnings per share (USD) - Continuing operations 5.87 4.10 2.76 - Discontinued operations 3.00 0.41 Total diluted earnings per share (USD) 5.87 7.10 3.17

Changes in consolidated state_2

Changes in consolidated statements of comprehensive income (Tables)	12 Months Ended
	Dec. 31, 2024
Comprehensive income [abstract]
Comprehensive income	Total value 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 Value adjustments recognized through other comprehensive income 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 recognized through equity in 2022 -4 34 30 30 Value adjustments at December 31, 2022 -198 -4 038 -760 -4 996 -38 -5 034 Fair value adjustments on equity securities, net of taxes of USD -6 1 37 37 37 Net investment hedge, net of taxes of USD 19 million -50 -50 -50 Defined benefit plans, net of taxes of USD 16 million -160 -160 -160 Currency translation effects, net of taxes of USD -6 8.1 1 373 1 373 2 1 375 Value adjustments recognized through other comprehensive income in 2023 37 -160 1 323 1 200 2 1 202 Fair value adjustments on equity securities sold, reclassified to retained earnings net of taxes of USD -7 1 1 1 Value adjustments related to divestments, net of taxes of USD -4 2 27 29 29 Value adjustments recognized through equity in 2023 3 27 30 30 Value adjustments at December 31, 2023 -158 -4 171 563 -3 766 -36 -3 802 Fair value adjustments on equity securities, net of taxes of USD -8 1 64 64 64 Cash flow hedge – losses recognized in other comprehensive income, net of taxes of USD 3 million 2 -24 -24 -24 Net investment hedge, net of taxes of USD -30 91 91 91 Defined benefit plans, net of taxes of USD -343 2 024 2 024 2 024 Currency translation effects, net of taxes of USD 6 million 8.1 -1 563 -1 563 -3 -1 566 Value adjustments recognized through other comprehensive income in 2024 64 2 024 -24 -1 472 592 -3 589 Fair value adjustments on equity securities sold, reclassified to retained earnings net of taxes of USD 8 million -81 -81 -81 Value adjustments recognized through equity in 2024 -81 -81 -81 Value adjustments at December 31, 2024 -175 -2 147 -24 -909 -3 255 -39 -3 294 1 2 Includes USD 1 million that was recycled through the income statement as the hedged item has affected interest expense.

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment [table text block]	Machinery At January 1, 2024 Cost 403 10 147 1 213 9 630 21 393 Accumulated depreciation and impairment -5 -5 251 -7 -6 616 -11 879 Net book value 398 4 896 1 206 3 014 9 514 At January 1, 2024 398 4 896 1 206 3 014 9 514 Impact of acquisitions of businesses 6 14 20 Reclassifications 1 136 -569 432 Additions 0 73 1 082 229 1 384 Disposals and derecognitions -4 -35 -19 -58 -116 Depreciation charge -327 -558 -885 Impairment charge -5 -13 -3 -27 -48 Reversal of impairment charge 1 1 Currency translation effects -19 -194 -94 -105 -412 At December 31, 2024 371 4 542 1 603 2 942 9 458 At December 31, 2024 Cost 376 9 526 1 610 9 046 20 558 Accumulated depreciation and impairment -5 -4 984 -7 -6 104 -11 100 Net book value 371 4 542 1 603 2 942 9 458 Commitments for purchases of property, plant and equipment 1 770 Capitalized borrowing costs 5 1 The estimated timing of the commitments for purchase of property, plant and equipment are as follows: 2025: USD 624 million, 2026: USD 115 million, 2027: USD 29 million, 2028: USD 2 million, 2029 and thereafter nil. The following table summarizes the movements of property, plant and equipment during 2023: Machinery At January 1, 2023 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 At January 1, 2023 442 5 493 1 157 3 672 10 764 Costs and accumulated depreciation/impairments on assets related to discontinued operations 1 -54 -422 -280 -588 -1 344 Impact of acquisitions of businesses 12 1 5 18 Reclassifications 197 -420 223 Additions 1 85 734 245 1 065 Disposals and derecognitions -16 -261 -20 -63 -360 Depreciation charge -343 -573 -916 Impairment charge -3 -36 -10 -57 -106 Reversal of impairment charge 3 9 4 16 Currency translation effects 25 162 44 146 377 At December 31, 2023 398 4 896 1 206 3 014 9 514 At December 31, 2023 Cost 403 10 147 1 213 9 630 21 393 Accumulated depreciation and impairment -5 -5 251 -7 -6 616 -11 879 Net book value 398 4 896 1 206 3 014 9 514 Commitments for purchases of property, plant and equipment 744 Capitalized borrowing costs 3 1
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
Property, plant and equipment impairment charges and reversals [table text block]	(USD millions) 2024 2023 2022 Depreciation charge -885 -916 -967 Impairment charge -48 -106 -411 Impairment reversals 1 16 4 1

Right-of-use assets and lease_2

Right-of-use assets and lease liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Right of use assets Disclosure and Lease liabilities [abstract]
Disclosure of Right-of-use assets roll forward	(USD millions) 2024 2023 Right-of-use assets at January 1 1 410 1 431 Costs and accumulated depreciation/impairments on assets related to discontinued operations 1 -117 Impact of acquisitions and divestments of businesses, net 42 16 Additions 304 421 Depreciation charge -257 -259 Impairment reversal/(charge) 1 -4 Lease contract terminations 2 -36 -93 Currency translation effects -49 15 Total right-of-use assets at December 31 1 415 1 410 1 2
Disclosure of right-of-use assets carrying value and depreciation charge	December 31, December 31, Depreciation Depreciation Depreciation Land 472 483 11 12 16 Buildings 752 749 153 156 162 Vehicles 133 112 80 80 82 Machinery and equipment, and other assets 58 66 13 11 7 Total right-of-use assets 1 415 1 410 257 259 267 1
Disclosure of maturity analysis of lease liability	Interests for Interests for Less than one year 235 291 56 230 284 54 Between one and two years 203 252 49 203 248 45 Between two and three years 168 209 41 170 211 41 Between three and four years 117 153 36 149 184 35 Between four and five years 86 116 30 113 142 29 After five years 994 2 178 1 184 963 2 173 1 210 Total lease liabilities 1 803 3 199 1 396 1 828 3 242 1 414 Less current portion of lease liabilities -235 -291 -56 -230 -284 -54 Non-current portion of lease liabilities 1 568 2 908 1 598 2 958 Commitments for leases not yet commenced 1 123 89 1 The 2024 estimated timing of the commitments for leases not yet commenced are as follows: 2025 USD 57 million, 2026 USD 15 million, 2027 USD 4 million, 2028 USD 4 million, 2029 USD 4 million and thereafter USD 39 million.
Additional disclosures related to right-of-use assets and lease liabilities	(USD millions) 2024 2023 2022 Interest expense on lease liabilities 1 72 62 57 Expense on short-term leases 7 5 3 Expense on low-value leases 5 6 6 Total cash outflows for leases 336 321 319 Thereof: Cash outflows for short-term leases and low-value leases 2 12 11 9 Payments of interest 3 62 52 48 Payments of lease liabilities 4 262 258 262 1 The weighted average interest rate is 4.0% (2023: 3.5%, 2022: 3.3%). Interest on lease liabilities as at December 31, 2024, is estimated to be USD 56 million for 2025 and USD 1.3 billion thereafter. 2 3 4

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about intangible assets [abstract]
Movements of goodwill and intangible assets	Goodwill Intangible assets other than goodwill In-process Currently Other At January 1, 2024 Cost 23 391 7 822 46 909 3 588 58 319 Accumulated amortization and impairment -50 -2 493 -26 892 -2 055 -31 440 Net book value 23 341 5 329 20 017 1 533 26 879 At January 1, 2024 23 341 5 329 20 017 1 533 26 879 Impact of acquisitions of businesses 2 701 1 424 1 156 2 580 Additions 1 1 116 263 764 2 143 Disposals and derecognitions 2 -91 -4 -95 Amortization charge -2 964 -493 -3 457 Impairment charge -910 -471 -52 -523 Reversal of impairment charge 9 9 Currency translation effects -376 -176 -322 -123 -621 At December 31, 2024 24 756 7 222 16 912 2 781 26 915 At December 31, 2024 Cost 25 665 9 621 45 462 5 123 60 206 Accumulated amortization and impairment -909 -2 399 -28 550 -2 342 -33 291 Net book value 24 756 7 222 16 912 2 781 26 915 1 Additions to currently marketed products include USD 0.1 billion of capitalized development costs. 2 The following table summarizes the movements of goodwill and intangible assets other than goodwill in 2023: Goodwill Intangible assets other than goodwill In-process Currently Other At January 1, 2023 Cost 29 596 7 092 58 249 4 343 69 684 Accumulated amortization and impairment -295 -2 671 -32 736 -2 633 -38 040 Net book value 29 301 4 421 25 513 1 710 31 644 At January 1, 2023 29 301 4 421 25 513 1 710 31 644 Costs and accumulated amortization/impairments on assets related to discontinued operations 1 -7 445 -235 -1 026 -199 -1 460 Impact of acquisitions of businesses 1 094 2 931 15 2 946 Reclassifications -235 23 212 Additions 2 770 290 516 1 576 Disposals and derecognitions 3 -1 842 -3 -1 845 Amortization charge -3 319 -641 -3 960 Impairment charge -2 544 -310 -194 -3 048 Currency translation effects 391 221 688 117 1 026 At December 31, 2023 23 341 5 329 20 017 1 533 26 879 At December 31, 2023 Cost 23 391 7 822 46 909 3 588 58 319 Accumulated amortization and impairment -50 -2 493 -26 892 -2 055 -31 440 Net book value 23 341 5 329 20 017 1 533 26 879 1 2 Additions to currently marketed products include USD 0.1 billion of capitalized development costs. 3 Xiidra
Assumptions used in the calculation of valuation	(As a percentage) Terminal growth rate 1.3 Discount rate (post-tax) 7.0
Intangible asset impairment charges and reversals	(USD millions) 2024 2023 2022 Amortization charge -3 457 -3 960 -3 760 Impairment charge 2 -1 433 -3 048 -1 301 Reversal of impairment charge 9 1 2 2024 impairment charge included the write-down of IPR&D on the cessation of clinical research and clinical development programs and a USD 0.9 2023 impairment charge included the write-down of IPR&D on the cessation of clinical development programs, including PPY988 (USD 1.0 billion), which was acquired with the 2022 acquisition of Gyroscope Therapeutics Holdings plc (see Note 2), VDT482 (USD 0.4 billion), and MBG453 (USD 0.3 billion), and the clinical research program NIZ985 (USD 0.3 billion); as well as the write-down of a currently marketed product by USD 0.3 billion to reflect the reduction in its recoverable amount. 2022 intangible asset impairment charge included the write-down of IPR&D on the cessation of clinical development programs, including UNR844 (USD 0.6 billion).

Deferred tax assets and liabi_2

Deferred tax assets and liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of Deferred Tax Assets and Liabilities [abstract]
Schedule of Deferred Tax Assets and Liabilities	Pensions and Gross deferred tax assets at January 1, 2024 117 2 188 764 2 200 713 2 206 8 188 Gross deferred tax liabilities at January 1, 2024 -310 -4 228 -420 -77 -1 092 -6 127 Net deferred tax balance at January 1, 2024 -193 -2 040 344 2 123 713 1 114 2 061 At January 1, 2024 -193 -2 040 344 2 123 713 1 114 2 061 Credited/(charged) to income -23 615 9 272 -189 -2 682 Charged to equity -105 20 -85 Credited/(charged) to other comprehensive income -343 -9 -352 Impact of acquisitions of businesses -2 -479 263 -116 -334 Other movements 14 -11 -2 -2 -23 -8 -32 Net deferred tax balance at December 31, 2024 -204 -1 915 8 2 393 659 999 1 940 Gross deferred tax assets at December 31, 2024 130 2 591 688 2 464 659 2 344 8 876 Gross deferred tax liabilities at December 31, 2024 -334 -4 506 -680 -71 -1 345 -6 936 Net deferred tax balance at December 31, 2024 -204 -1 915 8 2 393 659 999 1 940 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 4 517 Deferred tax assets at December 31, 2024 4 359 Deferred tax liabilities at December 31, 2024 -2 419 Net deferred tax balance at December 31, 2024 1 940 Gross deferred tax assets at January 1, 2023 158 1 726 739 2 214 425 2 789 8 051 Gross deferred tax liabilities at January 1, 2023 -343 -4 785 -420 -138 -1 312 -6 998 Net deferred tax balance at January 1, 2023 -185 -3 059 319 2 076 425 1 477 1 053 At January 1, 2023 -185 -3 059 319 2 076 425 1 477 1 053 Net deferred tax balance related to discontinued operations 1 60 120 -36 -311 -13 -233 -413 Credited/(charged) to income -13 1 344 32 386 173 -47 1 875 Credited/(charged) to other comprehensive income -3 16 -34 -21 Impact of acquisitions of businesses -2 -530 111 -19 -440 Other movements -50 85 13 -28 17 -30 7 Net deferred tax balance at December 31, 2023 -193 -2 040 344 2 123 713 1 114 2 061 Gross deferred tax assets at December 31, 2023 117 2 188 764 2 200 713 2 206 8 188 Gross deferred tax liabilities at December 31, 2023 -310 -4 228 -420 -77 -1 092 -6 127 Net deferred tax balance at December 31, 2023 -193 -2 040 344 2 123 713 1 114 2 061 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 3 879 Deferred tax assets at December 31, 2023 4 309 Deferred tax liabilities at December 31, 2023 -2 248 Net deferred tax balance at December 31, 2023 2 061 1
Gross value of tax-loss carry-forwards	(USD millions) Unrecognized Recognized 2024 total One year 19 3 22 Two years 59 88 147 Three years 24 26 50 Four years 1 2 337 399 2 736 Five years 97 1 136 1 233 More than five years 1 4 205 2 456 6 661 Not subject to expiry 783 1 103 1 886 Total 7 524 5 211 12 735 1 Unrecognized losses expiring in four years include USD 2.3 billion attributable to US state capital loss carry-forwards, and those expiring in more than five years include USD 4.0 billion attributable to US state tax loss carry-forwards. (USD millions) Unrecognized Recognized 2023 total One year 23 44 67 Two years 12 15 27 Three years 67 79 146 Four years 22 569 591 Five years 1 1 569 580 2 149 More than five years 1 2 891 2 975 5 866 Not subject to expiry 687 2 258 2 945 Total 5 271 6 520 11 791 1 Unrecognized losses expiring in five years include USD 1.5 billion attributable to US state capital loss carry-forwards, and those expiring in more than five years include USD 2.8 billion attributable to US state tax loss carry-forwards.
Tax losses carried forward that expired	(USD millions) 2024 2023 2022 Tax losses carried forward that expired 24 8 6

Financial and other non-curre_2

Financial and other non-current assets (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of financial and other non-current assets [abstract]
Financial assets	(USD millions) 2024 2023 Equity securities 746 1 403 Debt securities 53 29 Fund investments 210 190 Total financial investments 1 009 1 622 Long-term receivables from finance subleases 54 104 Other long-term receivables 179 214 Contingent consideration receivables 1 671 553 Long-term loans, advances and security deposits 102 114 Total financial assets 2 015 2 607 1
Other non-current assets	(USD millions) 2024 2023 Deferred compensation plans 479 439 Prepaid post-employment benefit plans 1 2 604 545 Other non-current assets 422 215 Total other non-current assets 3 505 1 199 1

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2024
Inventories Disclosure [abstract]
Inventories by class	(USD millions) 2024 2023 Raw material, consumables 843 963 Work in progress 3 448 3 502 Finished products 1 432 1 448 Total inventories 5 723 5 913
Amount of inventory recognized as an expense in cost of goods sold	(USD billions) 2024 2023 2022 Cost of goods sold -6.3 -5.8 -5.2
Recognized amount of inventory provisions and reversals of inventory provision	(USD millions) 2024 2023 2022 Inventory provisions -526 -467 -373 Reversals of inventory provisions 156 111 121

Trade receivables (Tables)

Trade receivables (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of trade receivables [abstract]
Provisions for trade receivables	(USD millions) 2024 2023 Total gross trade receivables 7 481 7 158 Provisions for doubtful trade receivables -58 -51 Total trade receivables 7 423 7 107
Overdue amounts and related provision	(USD millions) 2024 2023 Not overdue 7 138 6 791 Past due for not more than one month 134 146 Past due for more than one month but less than three months 95 66 Past due for more than three months but less than six months 37 64 Past due for more than six months but less than one year 24 38 Past due for more than one year 53 53 Provisions for doubtful trade receivables -58 -51 Total trade receivables 7 423 7 107
Trade receivables denominated in other currencies	(USD millions) 2024 2023 US dollar (USD) 3 698 3 520 Euro (EUR) 1 144 1 138 Japanese yen (JPY) 470 288 Russian ruble (RUB) 212 240 British pound (GBP) 191 146 Chinese yuan (CNY) 172 231 Brazilian real (BRL) 130 130 Australian dollar (AUD) 96 96 Swiss franc (CHF) 54 84 Canadian dollar (CAD) 50 75 Other currencies 1 206 1 159 Total trade receivables 7 423 7 107

Marketable securities, commod_2

Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of marketable securities commodities deposits derivative instruments and cash [abstract]
Marketable securities, commodities, timedeposits, and derivative financial instruments	(USD millions) 2024 2023 Commodities 111 Time deposits and short-term investments with original maturity more than 90 days 1 892 569 Derivative financial instruments 106 355 Total marketable securities, commodities, time deposits and derivative financial instruments 1 998 1 035
Cash and cash equivalents	(USD millions) 2024 2023 Current accounts 2 585 3 207 Time deposits and short-term investments with original maturity less than 90 days 8 874 10 186 Total cash and cash equivalents 11 459 13 393

Other current assets (Tables)

Other current assets (Tables)	12 Months Ended
	Dec. 31, 2024
Other current assets [abstract]
Other current assets	(USD millions) 2024 2023 VAT receivable 478 462 Withholding tax recoverable 57 64 Prepaid expenses 985 764 Contingent consideration receivable 1 120 65 Other receivables and current assets 1 328 1 252 Total other current assets 2 968 2 607 1

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of equity [abstract]
Schedule disclosing information related to movement in the share capital	Movement Movement Movement Share capital 1 901 -11 890 -65 825 -32 793 Treasury shares -48 -44 -92 51 -41 -12 -53 Outstanding share capital 853 -55 798 -14 784 -44 740 1 At December 31, 2024 and 2023, the Novartis AG share capital consists of registered shares with a nominal value of CHF 0.49 each. Prior to the 2023 capital decrease (see Note 18.6), Novartis AG share capital at December 31, 2022 consisted 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	2024 2023 2022 Total Total 1 Total Total Total 1 Total Total Total 1 Total Balance at beginning of year 2 277.5 -233.5 2 044.0 2 403.7 -284.1 2 119.6 2 434.4 -199.5 2 234.9 Shares canceled for capital reduction 2 -87.5 87.5 -126.2 126.2 -30.7 30.7 Shares acquired to be canceled 3 -77.5 -77.5 -87.5 -87.5 -126.2 -126.2 Other share purchases 4 -1.2 -1.2 -1.6 -1.6 -1.4 -1.4 Exercise of options and employee transactions 5 18.8 2.8 2.8 1.9 1.9 Equity-based compensation plans 5 9.7 9.7 10.4 10.4 10.4 10.4 Shares delivered to Alcon employees 0.0 0.0 Shares delivered to Sandoz employees 0.1 0.1 0.3 0.3 Total movements -87.5 18.6 -68.9 -126.2 50.6 -75.6 -30.7 -84.6 -115.3 Balance at end of year 2 190.0 -214.9 1 975.1 2 277.5 -233.5 2 044.0 2 403.7 -284.1 2 119.6 1 Approximately 86.0 million treasury shares (2023: 93.8 million; 2022: 99.0 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 the CHF 10 billion share buyback authority approved at the 2021 Annual General Meeting (AGM), the additional CHF 10 billion authority approved at the 2022 AGM and the additional CHF 10 billion authority approved at the 2023 AGM. Since March 20, 2024, the share repurchases are executed under the authority approved at the 2023 AGM as all earlier authorizations are fully exhausted. 4 5
Schedule disclosing information related to Dividend	2024 2023 2022 Dividend per share (in CHF) 3.30 3.20 3.10 Total dividend payment (in USD billion) 7.6 7.3 7.5
Schedule disclosing information related treasury shares movements	2024 2023 2022 Number of Number of Number of Shares acquired to be canceled 1 -77.5 -8 316 -87.5 -8 369 -126.2 -10 787 Other share purchases 2 -1.2 -134 -1.6 -148 -1.4 -123 Purchase of treasury shares -78.7 -8 450 -89.1 -8 517 -127.6 -10 910 Exercise of options and employee transactions 3 18.8 2.8 146 1.9 88 Equity-based compensation plans 4 9.7 1 060 10.4 904 10.4 854 Shares delivered to Alcon employees 0.0 5 Shares delivered to Sandoz employees 0.1 12 0.3 30 Total -68.9 -7 378 -75.6 -7 437 -115.3 -9 963 1 Shares repurchased on the SIX Swiss Exchange second trading line under the CHF 10 billion share buyback authority approved at the 2021 Annual General Meeting (AGM), the additional CHF 10 billion authority approved at the 2022 AGM and the additional CHF 10 billion authority approved at the 2023 AGM. Since March 20, 2024, the share repurchases are executed under the authority approved at the 2023 AGM as all earlier authorizations are fully exhausted. 2 3 4

Non-current financial debt (Tab

Non-current financial debt (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of financial liabilities [abstract]
Disclosure of non-current portion of non-current borrowings by type	(USD millions) 2024 2023 Straight bonds 24 112 20 585 Other bonds 1 523 Total bonds 24 635 20 585 Other financial debt 87 42 Total, including current portion of non-current financial debt 24 722 20 627 Less current portion of non-current financial debt -3 356 -2 191 Total non-current financial debt 21 366 18 436 1 Average interest rate during the year 2024: 5.3%
Disclosure of detailed information about borrowings	Notional 2024 2023 3.700% USD 500 2012 2042 Novartis Capital Corporation, New York, United States 98.325% 491 491 3.400% USD 2 150 2014 2024 Novartis Capital Corporation, New York, United States 99.287% 2 150 4.400% USD 1 850 2014 2044 Novartis Capital Corporation, New York, United States 99.196% 1 828 1 828 1.625% EUR 600 2014 2026 Novartis Finance S.A., Luxembourg, Luxembourg 99.697% 624 663 0.250% CHF 500 2015 2025 Novartis AG, Basel, Switzerland 100.640% 553 595 0.625% CHF 550 2015 2029 Novartis AG, Basel, Switzerland 100.502% 609 654 1.050% CHF 325 2015 2035 Novartis AG, Basel, Switzerland 100.479% 360 387 3.000% USD 1 750 2015 2025 Novartis Capital Corporation, New York, United States 99.010% 1 748 1 745 4.000% USD 1 250 2015 2045 Novartis Capital Corporation, New York, United States 98.029% 1 223 1 222 0.625% EUR 500 2016 2028 Novartis Finance S.A., Luxembourg, Luxembourg 98.480% 518 549 3.100% USD 1 000 2017 2027 Novartis Capital Corporation, New York, United States 99.109% 997 995 1.125% EUR 600 2017 2027 Novartis Finance S.A., Luxembourg, Luxembourg 99.874% 624 662 1.375% EUR 750 2018 2030 Novartis Finance S.A., Luxembourg, Luxembourg 99.957% 779 828 1.700% EUR 750 2018 2038 Novartis Finance S.A., Luxembourg, Luxembourg 99.217% 774 823 1.750% USD 1 000 2020 2025 Novartis Capital Corporation, New York, United States 99.852% 1 000 999 2.000% USD 1 250 2020 2027 Novartis Capital Corporation, New York, United States 99.909% 1 248 1 247 2.200% USD 1 500 2020 2030 Novartis Capital Corporation, New York, United States 99.869% 1 496 1 495 2.750% USD 1 250 2020 2050 Novartis Capital Corporation, New York, United States 97.712% 1 217 1 216 0.000% 1 EUR 1 850 2020 2028 Novartis Finance S.A., Luxembourg, Luxembourg 99.354% 1 918 2 036 1.600% CHF 650 2024 2027 Novartis AG, Basel, Switzerland 100.138% 719 1.650% CHF 435 2024 2031 Novartis AG, Basel, Switzerland 100.148% 481 1.750% CHF 645 2024 2034 Novartis AG, Basel, Switzerland 100.229% 714 1.850% CHF 280 2024 2040 Novartis AG, Basel, Switzerland 100.268% 310 1.850% CHF 190 2024 2049 Novartis AG, Basel, Switzerland 100.149% 210 3.800% USD 1 000 2024 2029 Novartis Capital Corporation, New York, United States 99.757% 995 4.000% USD 850 2024 2031 Novartis Capital Corporation, New York, United States 99.565% 844 4.200% USD 1 100 2024 2034 Novartis Capital Corporation, New York, United States 99.282% 1 088 4.700% USD 750 2024 2054 Novartis Capital Corporation, New York, United States 99.936% 744 Total straight bonds 24 112 20 585 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) 2024 2023 2024 2 191 2025 3 356 3 338 2026 678 663 2027 3 645 2 906 2028 2 495 2 585 2029 1 666 654 After 2029 12 882 8 290 Total 24 722 20 627
Non-current financial debt including current portion by currency	(USD millions) 2024 2023 US dollar (USD) 15 495 13 388 Euro (EUR) 5 238 5 563 Swiss franc (CHF) 3 956 1 635 Others 33 41 Total 24 722 20 627
Comparison of balance sheet and fair value of total non-current financial debt including current portion	2024 2024 2023 2023 Straight bonds 24 112 22 504 20 585 19 194 Others 610 610 42 42 Total 24 722 23 114 20 627 19 236

Provisions and other non-curr_2

Provisions and other non-current liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about provisions and non-current liabilities [abstract]
Disclosure of other provisions [text block]	(USD millions) 2024 2023 Accrued liability for employee benefits: Defined benefit pension plans 1 1 571 1 815 Other long-term employee benefits and deferred compensation 591 546 Other post-employment benefits 1 311 369 Environmental remediation provisions 486 518 Provisions for product liabilities, governmental investigations and other legal matters 75 82 Contingent consideration 2 527 389 Other non-current liabilities 514 804 Total provisions and other non-current liabilities 4 075 4 523 1 2
Accrual for environmental loss contingencies [table text block]	(USD millions) 2024 2023 2022 January 1 538 588 616 Provisions related to discontinued operations 1 -53 Cash payments 2 -4 -4 -6 Releases of provisions 3 -32 - 54 -18 Additions to provisions 4 30 14 6 Currency translation effects -34 47 -10 December 31 498 538 588 Less current provision -12 -20 -53 Non-current environmental remediation provisions at December 31 486 518 535 1 2 Cash payments from continuing operations were USD 5 million in 2022. 3 Releases of provisions credited to the consolidated income statement from continuing operations were USD 18 million in 2022. 4 Additions to provisions charged to the consolidated income statement from continuing operations were USD 6 million in 2022.
Accrual for environmental loss contingencies, fiscal year maturity [table text block]	Expected Due within two years 42 Due later than two years, but within five years 203 Due later than five years, but within 10 years 184 Due after 10 years 69 Total environmental remediation provisions 498
Accrual for product liabilities government investigations other legal matters loss contingencies [table text block]	(USD millions) 2024 2023 2022 January 1 124 702 397 Provisions related to discontinued operations 1 -97 Impact of acquisitions of businesses 4 Cash payments 2 -102 -448 -105 Releases of provisions 3 -12 -219 -52 Additions to provisions 4 160 170 466 Currency translation effects -6 16 -8 December 31 164 124 702 Less current portion -89 -42 -548 Non-current product liabilities, governmental investigations and other legal matters provisions at December 31 75 82 154 1 2 Cash payments from continuing operations were USD 67 million in 2022. 3 Releases of provisions credited to the consolidated income statement from continuing operations were USD 38 million in 2022. 4 Additions to provisions charged to the consolidated income statement from continuing operations were USD 435 million in 2022.

Current financial debt and de_2

Current financial debt and derivative financial instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of current financial debt and derivative instruments [abstract]
Current financial debt and derivative instruments	(USD millions) 2024 2023 Bank and other financial debt 1 642 624 Commercial paper 4 091 3 269 Current portion of non-current financial debt 3 356 2 191 Derivative financial instruments 143 91 Total current financial debt and derivative financial instruments 8 232 6 175 1 Weighted average interest rate during the year 2024: 20.8% (2023: 13.2%)

Provisions and other current _2

Provisions and other current liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of provisions and other current liabilities [abstract]
Provisions and other current liabilities	(USD millions) 2024 2023 Provisions for deductions from revenue 7 004 6 315 Accruals for compensation and benefits, including social security 2 181 2 330 Accruals for royalties 1 099 844 Accrued expenses for goods and services received but not invoiced 901 1 026 Accruals for taxes other than income taxes 626 516 Restructuring provisions 424 703 Contingent consideration 1 281 14 Accrued share-based payments 262 322 Accrued interests on financial debt 169 116 Deferred income 127 98 Provisions for product liabilities, governmental investigations and other legal matters 2 89 42 Environmental remediation provisions 12 20 Other payables 879 820 Total provisions and other current liabilities 14 054 13 166 1 2
Provisions for reduction of revenue	(USD millions) 2024 2023 2022 January 1 6 315 6 732 6 481 Provisions related to discontinued operations 1 -1 415 Effect of currency translation and business acquisitions and divestments -197 68 -210 Payments/utilizations 2 -19 829 -16 703 -22 261 Adjustments of prior years charged to income statement 3 -315 -206 -322 Current year income statement charge 4 21 157 17 798 23 072 Change in provisions offset against gross trade receivables 5 -127 41 -28 December 31 7 004 6 315 6 732 1 2 Payments/utilizations from continuing operations were USD 14 691 million in 2022. 3 Adjustments of prior years charged to income statement from continuing operations were USD 218 million in 2022. 4 Current year income statement charge from continuing operations were USD 15 231 million in 2022. 5 Change in provisions offset against gross trade receivables from continuing operations were USD 2 million in 2022.
Restructuring provisions movements	(USD millions) 2024 2023 2022 January 1 703 1 131 345 Provisions related to discontinued operations 1 -51 Additions to provisions 2 362 658 1 368 Cash payments 3 -514 -816 -468 Releases of provisions 4 -100 -193 -42 Transfers 5 -57 - 53 Currency translation effects -27 31 -19 December 31 424 703 1 131 1 2 Additions to provisions charged to the consolidated income statement from continuing operations were USD 1.3 billion in 2022. 3 Cash-payments from continuing operations were USD 421 million in 2022. 4 Releases of provisions credited to the consolidated income statement from continuing operations were USD 33 million in 2022. 5 Transfers from continuing operations were USD 53 million in 2022.

Details to the consolidated s_2

Details to the consolidated statements of cash flows (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of details to the consolidated statements of cash flows [abstract]
Adjustments for non-cash items from continuing operations	(USD millions) 2024 2023 2022 Depreciation, amortization and impairments on: Property, plant and equipment 932 1 006 1 374 Right-of-use assets 256 263 270 Intangible assets 4 881 7 008 5 061 Financial assets 1 45 106 260 Change in provisions and other non-current liabilities 696 61 1 318 Gains on disposal on property, plant and equipment; intangible assets; other non-current assets; and other adjustments on financial assets and other non-current assets, net -74 -180 -308 Equity-settled compensation expense 1 044 865 791 Loss from associated companies 38 13 11 Income taxes 1 701 551 1 128 Net financial expense 866 633 758 Other -153 43 -32 Total 10 232 10 369 10 631 1
Cash flows from changes in working capital and other operating items included in operating cash flow from continuing operations	(USD millions) 2024 2023 2022 Increase in inventories -225 -546 -560 Increase in trade receivables -931 -1 504 -397 (Decrease)/increase in trade payables -105 479 -181 Change in other current and non-current assets -502 -125 -84 Change in other current liabilities 1 057 1 327 426 Total -706 -369 -796
Cash flows arising from acquisitions and divestments of businesses	(USD millions) Note 2024 2023 2022 Total purchase consideration for acquisitions of businesses 2 -4 629 -3 925 -1 166 Acquired cash and cash equivalents 242 226 89 Fair value of previously held equity interests 26 21 Contingent consideration payables, net 377 146 224 Payments, deferred consideration and other adjustments, net -8 -34 0 Cash flows used for acquisitions of businesses 1 -4 018 -3 561 -832 Cash flows from/(used for) divestments of businesses, net 2 107 3 -8 Cash flows used for acquisitions and divestments of businesses, net -3 911 -3 558 -840 1 2024 includes the payments for purchases of MorphoSys shares by Novartis during the Offer period totaling EUR 0.3 billion (USD 0.3 billion), see Note 2 for further information. Also included in 2024, is a payment of EUR 53 million (USD 58 million) in relation to the MorphoSys acquisition. 2 In 2024, USD 107 million represented net cash inflows from divestments made during that year and in previous years. In 2024, the net identifiable assets of divested businesses amounted to USD 142 million, comprised of non-current assets of USD 159 million, current assets of USD 48 million, including USD 8 million cash and cash equivalents and of non-current and current liabilities of USD 65 million. In 2023, USD 3 million represented net cash inflows from divestments in previous years. In 2022, USD 8 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 12 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 139 million, comprised of non-current assets of USD 127 million, current assets of USD 70 million, including USD 62 million cash and cash equivalents and of non-current and current liabilities of USD 58 million. The deferred sale price receivable and other adjustments amounted to USD 19 million.
Reconciliation of liabilities arising from financing activities	2024 2023 2022 Derivative Derivative Derivative January 1 24 520 91 1 828 26 120 55 1 789 29 129 68 1 896 Financial debts, derivative financial instruments and lease liabilities related to discontinued operations 1 -214 -1 -98 Proceeds from non-current financial debts 2 6 143 16 Repayments of the current portion of non-current financial debts 3 -2 160 -2 223 -2 575 Change in current financial debts 4 958 546 295 Repayments of other current financial debts -289 Payments of lease liabilities 5 -262 -258 -295 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities 6 -62 -52 -51 New, modified and terminated leases, net 241 349 222 Impact of acquisitions and divestments of businesses, net 852 42 51 12 Changes in fair values, lease interest and other changes, net -8 52 72 -2 37 28 -13 60 Amortization of bonds discount 33 17 22 Currency translation effects -594 -56 276 19 -767 -55 December 31 29 455 143 1 803 24 520 91 1 828 26 120 55 1 789 Non-current 7 21 366 1 568 18 436 1 598 20 244 1 538 Current 7 8 089 143 235 6 084 91 230 5 876 55 251 1 2 Proceeds from non-current financial debts included in the consolidated statements of cash flows from continuing operations were nil in 2022. 3 4 Changes in current financial debts included in the consolidated statements of cash flows from continuing operations were USD 252 million in 2022 which included net cash outflows from interest-bearing accounts of employees payable on demand amounting to USD 1.7 billion. 5 Payments of lease liabilities included in the consolidated statements of cash flows from continuing operations were USD 262 million in 2022. 6 Interest payments for amounts included in lease liabilities classified as cash flows from operating activities within the consolidated statements of cash flows from continuing operations were USD 48 million in 2022. 7

Post-employment benefits for _2

Post-employment benefits for employees (Tables)	12 Months Ended
	Dec. 31, 2024
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) 2024 2023 2024 2023 Benefit obligation at January 1 19 037 17 533 440 422 Benefit obligations related to discontinued operations 1 -529 -26 Current service cost 259 260 9 9 Interest cost 398 504 23 22 Past service costs and settlements -85 28 12 Administrative expenses 24 25 Remeasurement (gains)/losses arising from changes in the financial assumptions 2 431 1 350 -10 13 Remeasurement (gains)/losses arising from changes in demographic assumptions -98 -303 -14 Experience-related remeasurement losses/(gains) 76 23 -43 44 Currency translation effects -1 065 1 304 -13 4 Benefit payments -1 373 -1 384 -26 -34 Contributions of employees 176 174 Effect of acquisitions, divestments or transfers -5 52 Benefit obligation at December 31 17 775 19 037 392 440 Fair value of plan assets at January 1 19 934 18 945 71 60 Plan assets related to discontinued operations 1 -386 Interest income 369 514 3 2 Return on plan assets excluding interest income 682 175 7 10 Currency translation effects -1 187 1 524 Novartis contributions 381 408 26 33 Contributions of employees 176 174 Settlements -110 -35 Benefit payments -1 373 -1 384 -26 -34 Effect of acquisitions, divestments or transfers -4 -1 Fair value of plan assets at December 31 18 868 19 934 81 71 Funded status 1 093 897 -311 -369 Limitation on recognition of fund surplus at January 1 -2 167 -2 644 Limitation on recognition of fund surplus at January 1, related to discontinued operations 6 Change in limitation on recognition of fund surplus 3 2 034 740 Currency translation effects 100 -209 Interest income on limitation of fund surplus -27 -60 Limitation on recognition of fund surplus at December 31 4 -60 -2 167 Net asset/(liability) in the balance sheet at December 31 1 033 -1 270 -311 -369 1 2 3 4 In 2023, the most significant pension plans where the asset ceiling was required to be applied were in Switzerland and amounted to USD 2 112 million.
Reconciliation of the net liability table	Pension plans Other post-employment benefit plans (USD millions) 2024 2023 2024 2023 Net liability at January 1 -1 270 -1 232 -369 -362 Less: net liability related to discontinued operations 1 149 26 Current service cost -259 -260 -9 -9 Net interest expense -56 -50 -20 -20 Administrative expenses -24 -25 Past service costs and settlements -25 -63 -12 Remeasurements 273 -895 60 -33 Currency translation effects -22 11 13 -4 Novartis contributions 381 408 26 33 Effect of acquisitions, divestments or transfers 1 -53 Change in limitation on recognition of fund surplus 2 2 034 740 Net asset/(liability) at December 31 1 033 -1 270 -311 -369 Amounts recognized in the consolidated balance sheet Prepaid benefit cost 2 604 545 Accrued benefit liability -1 571 -1 815 -311 -369 1 2
Principal weighted average actuarial assumptions	Pension plans Other post-employment benefit plans 2024 2023 2022 2024 2023 2022 Weighted average assumptions used to determine benefit obligations at December 31 Discount rate 1.9% 2.2% 3.0% 5.5% 5.5% 6.3% Expected rate of pension increase 0.3% 0.3% 0.4% Expected rate of salary increase 2.6% 3.0% 2.9% Interest on savings account 2.0% 1.3% 2.2% 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 2024 Change in 2023 25 basis point increase in discount rate -484 -528 25 basis point decrease in discount rate 511 557 One-year increase in life expectancy 611 644 25 basis point increase in rate of pension increase 329 366 25 basis point decrease in rate of pension increase -52 -61 25 basis point increase of interest on savings account 43 43 25 basis point decrease of interest on savings account -41 -42 25 basis point increase in rate of salary increase 41 41 25 basis point decrease in rate of salary increase -41 -42
The healthcare cost trend rate assumptions used for other post-employment benefits	2024 2023 2022 Healthcare cost trend rate assumed for next year 6.5% 6.3% 6.5% 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 2033 2031 2031
The weighted average plan asset allocation of funded defined benefit pension plans	(USD millions) 2024 2023 Equity securities 5 052 4 931 Debt securities 6 309 6 730 Real estate 3 775 3 821 Alternative investments 3 167 3 360 Cash and other investments 565 1 092 Total 18 868 19 934
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- Company contributions 2025 (estimated) 353 36 Expected future benefit payments 2025 1 400 36 2026 1 316 36 2027 1 152 36 2028 1 122 35 2029 1 096 34 2030–2034 5 079 160
Defined contribution plans	(USD millions) 2024 2023 2022 Contributions for defined contribution plans continuing operations 556 477 483
Pension plans
Statement [line items]
Breakdown of defined benefit obligation for pension plans and other post-employment benefit	2024 2023 United Rest of United Rest of Benefit obligation at December 31 12 843 2 374 2 558 17 775 13 453 2 574 3 010 19 037 Thereof unfunded 501 378 879 538 390 928 By type of member Active 5 447 259 652 6 358 5 557 389 847 6 793 Deferred pensioners 743 824 1 567 770 912 1 682 Pensioners 7 396 1 372 1 082 9 850 7 896 1 415 1 251 10 562 Fair value of plan assets at December 31 15 225 1 746 1 897 18 868 15 892 1 835 2 207 19 934 Funded status 2 382 -628 -661 1 093 2 439 -739 -803 897
Other post-employment benefit plans
Statement [line items]
Breakdown of defined benefit obligation for pension plans and other post-employment benefit	2024 2023 United Rest of United Rest of Benefit obligation at December 31 314 78 392 356 84 440 Thereof unfunded 233 78 311 285 84 369 By type of member Active 28 10 38 30 10 40 Deferred pensioners 1 1 Pensioners 286 68 354 325 74 399 Fair value of plan assets at December 31 81 81 71 71 Funded status -233 -78 -311 -285 -84 -369

Equity-based participation pl_2

Equity-based participation plans for employees (Tables)	12 Months Ended
	Dec. 31, 2024
Statement [line items]
Expense related to all equity-based participation and liabilities arising from equity-based payment transactions	(USD millions) 2024 2023 2022 Expense related to equity-based participation plans 1 307 1 142 982 Liabilities arising from equity-based payment transactions 262 322 235
Schedule of unvested restricted stock units roll forward	2024 2023 Weighted Weighted Annual Incentive – RSU 0.2 96.7 0.3 74.2 – Restricted shares 0.1 107.8 0.1 92.3 Share savings plans – RSU 0.5 96.8 0.4 71.3 – Shares 1.3 107.8 1.0 92.3 Novartis Employee Share Purchase Plan 1 1.0 104.9 0.9 96.2 Select North America (RSU) 3.4 100.1 4.5 73.9 Select outside North America – RSU 1.4 100.2 1.9 73.3 – Restricted shares 0.6 107.8 0.6 92.3 Long-Term Performance Plan (PSU) 1.1 98.6 1.8 80.6 Other share awards – RSU 0.4 96.8 0.6 75.9 1 The Novartis Employee Share Purchase Plan (ESPP) enables employees to voluntarily purchase Novartis AG shares through payroll deductions at a 15% discount to the fair value of the Novartis AG share price at the respective ESPP grant dates. The weighted average fair value at grand date in USD in the table shows the weighted average Novartis AG share price at the respective ESPP grant dates during the year.

Transactions with related par_2

Transactions with related parties (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of transactions between related parties [abstract]
Executive Officers and Non-Executive Directors Compensation	Executive Officers Non-Executive Directors Total (USD millions) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Cash and other compensation 19.0 18.0 25.0 4.9 4.9 4.6 23.9 22.9 29.6 Post-employment benefits 2.4 2.1 2.8 2.4 2.1 2.8 Equity-based compensation 61.9 62.2 42.6 5.4 5.0 4.8 67.3 67.2 47.4 Total 83.3 82.3 70.4 10.3 9.9 9.4 93.6 92.2 79.8

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and contingencies [abstract]
Research and development commitments	(USD millions) 2024 2025 135 2026 402 2027 739 2028 746 2029 653 Thereafter 8 123 Total 10 798

Financial instruments - addit_2

Financial instruments - additional disclosures (Tables)	12 Months Ended
	Dec. 31, 2024
Financial Instruments - additional disclosure [abstract]
Disclosure of financial assets and financial liabilities	2024 Financial Cash and cash equivalents 16 11 409 50 Time deposits and short-term investments with original maturity more than 90 days 16 1 892 Trade receivables 15 7 423 Other receivables and current assets 17 1 286 42 Long-term financial investments - equity securities 13 464 282 Long-term financial investments - debt securities 13 27 26 Long-term financial investments - fund investments 13 210 Long-term loans, advances, security deposits and other long-term receivables 13 335 Associated companies at fair value through profit and loss 109 Derivative financial instruments 16 106 Contingent consideration receivables 13/17 791 Total financial assets 22 345 583 1 524 Bank and other short-term financial debt 21 642 Commercial paper 21 4 091 Straight bonds 19 24 112 Other bonds 19 523 Other financial debt 19 87 Trade payables 4 572 Contingent consideration liabilities 20/22 808 Derivative financial instruments 21 143 Lease liabilities 10 1 803 Total financial liabilities 34 027 951 1 803 2023 Financial Cash and cash equivalents 16 13 343 50 Time deposits and short-term investments with original maturity more than 90 days 16 569 Trade receivables 15 7 107 Other receivables and current assets 17 1 127 124 1 Long-term financial investments - equity securities 13 1 086 317 Long-term financial investments - debt securities 13 29 Long-term financial investments - fund investments 13 190 Long-term loans, advances, security deposits and other long-term receivables 13 432 Associated companies at fair value through profit and loss 101 Derivative financial instruments 16 355 Contingent consideration receivables 13/17 618 Total financial assets 22 578 1 289 1 582 Bank and other short-term financial debt 21 624 Commercial paper 21 3 269 Straight bonds 19 20 585 Other financial debt 19 42 Trade payables 4 926 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 491 Derivative financial instruments 21 91 Lease liabilities 10 1 828 Total financial liabilities 29 446 582 1 828
Derivative financial instruments	Contract or underlying principal amounts Positive fair values Negative fair values (USD millions) 2024 2023 2024 2023 2024 2023 Forward foreign exchange rate contracts 10 194 11 944 81 335 -143 -91 Commodity purchase contracts 159 76 25 20 Total derivative financial instruments included in marketable securities and in current financial debts 10 353 12 020 106 355 -143 -91
Contract or underlying principal amount the derivative financial instruments, by currency	2024 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 1 024 1 717 7 453 10 194 Commodity purchase contracts 149 10 159 Total derivative financial instruments 1 173 1 727 7 453 10 353 2023 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 1 629 8 980 1 335 11 944 Commodity purchase contracts 61 15 76 Total derivative financial instruments 1 690 8 995 1 335 12 020
Fair value by hierarchy	2024 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents Debt securities 1 50 50 Total cash and cash equivalents at fair value 50 50 Marketable securities Derivative financial instruments 106 106 Total marketable securities and derivative financial instruments at fair value 106 106 Equity securities current 24 18 42 Current contingent consideration receivables 120 120 Long-term financial investments Debt and equity securities 193 7 599 799 Fund investments 15 195 210 Non-current contingent consideration receivables 671 671 Total long-term financial investments at fair value 208 7 1 465 1 680 Associated companies at fair value through profit and loss 109 109 Financial liabilities Current contingent consideration liabilities -281 -281 Derivative financial instruments -143 -143 Total current financial liabilities at fair values -143 -281 -424 Non-current contingent consideration liabilities -527 -527 Total non-current financial liabilities at fair value -527 -527 1 2023 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents Debt securities 1 50 50 Total cash and cash equivalents at fair value 50 50 Marketable securities Derivative financial instruments 355 355 Total marketable securities and derivative financial instruments at fair value 355 355 Fund investments and equity securities current 94 31 125 Current contingent consideration receivables 65 65 Long-term financial investments Debt and equity securities 796 20 616 1 432 Fund investments 7 183 190 Non-current contingent consideration receivables 553 553 Total long-term financial investments at fair value 803 20 1 352 2 175 Associated companies at fair value through profit and loss 101 101 Financial liabilities Contingent consideration liabilities -14 -14 Other financial liabilities current -88 -88 Derivative financial instruments -91 -91 Total current financial liabilities at fair value -91 -102 -193 Non-current contingent consideration liabilities -389 -389 Total non-current financial liabilities at fair value -389 -389 1
Reconciliation of changes in fair value measurement	2024 Associated January 1 101 184 647 618 -403 -88 Fair value gains and other adjustments, including from divestments recognized in the consolidated income statement 24 38 22 236 41 Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement -12 -14 -110 -100 Fair value adjustments recognized in the consolidated statement of comprehensive income, including currency translation effects -2 -2 -9 -39 7 Purchases 16 12 130 53 -376 Cash receipts and payments -77 23 88 Disposals -18 -21 -44 Reclassification -2 -19 December 31 109 195 617 791 -808 Total of fair value gains and losses recognized in the consolidated income statement for assets and liabilities held at December 31, 2024 12 24 -88 236 -59 2023 Associated January 1 129 261 699 650 -835 -232 Impact from discontinued operations 1 101 Fair value gains and other adjustments, including from divestments recognized in the consolidated income statement 4 1 11 48 552 Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement -28 -48 -63 -31 -65 -9 Fair value adjustments recognized in the consolidated statement of comprehensive income, including currency translation effects 2 3 71 -32 Purchases 9 14 82 -180 Cash receipts and payments -49 20 153 Disposals -6 -47 -80 36 Reclassification -9 -73 December 31 101 184 647 618 -403 -88 Total of fair value gains and losses recognized in the consolidated income statement for assets and liabilities held at December 31, 2023 -24 -47 -52 17 487 -9 1
Equity securities measured at fair value through other comprehensive income	(USD millions) 2024 2023 Listed equity securities 185 861 Non-listed equity securities 321 349 Total equity securities 506 1 210
Monitoring of net debt or liquidity based on contractual maturities	2024 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 1 858 34 1 892 Derivative financial instruments 37 38 7 24 106 Cash and cash equivalents 7 918 3 541 11 459 Total current financial assets 7 955 5 437 41 24 13 457 Non-current liabilities Financial debt -8 484 -12 882 -21 366 Financial debt - undiscounted -8 505 -13 010 -21 515 Total non-current financial debt -8 484 -12 882 -21 366 Current liabilities Financial debt -3 963 -1 620 -2 506 -8 089 Financial debt - undiscounted -3 963 -1 620 -2 508 -8 091 Derivative financial instruments -14 -129 -143 Total current financial debt -3 977 -1 749 -2 506 -8 232 Net debt 3 978 3 688 -2 465 -8 484 -12 858 -16 141 2023 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 12 516 41 569 Commodities 111 111 Derivative financial instruments 24 310 1 20 355 Cash and cash equivalents 7 641 5 752 13 393 Total current financial assets 7 677 6 578 42 131 14 428 Non-current liabilities Financial debt -9 492 -8 944 -18 436 Financial debt - undiscounted -9 522 -9 050 -18 572 Total non-current financial debt -9 492 -8 944 -18 436 Current liabilities Financial debt -3 328 -372 -2 384 -6 084 Financial debt - undiscounted -3 328 -372 -2 384 -6 084 Derivative financial instruments -43 -39 -9 -91 Total current financial debt -3 371 -411 -2 393 -6 175 Net debt 4 306 6 167 -2 351 -9 492 -8 813 -10 183
Derivative financial instruments and accrued interest on derivative financial instruments	2024 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 -3 421 -6 075 -475 -9 971 Potential inflows in various currencies - from financial derivative assets 3 443 5 948 640 10 031 2023 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 -4 329 -6 604 -556 -11 489 Potential inflows in various currencies - from financial derivative assets 4 311 6 841 623 11 775
Other contractual liabilities of the net debt or liquidity	2024 Due later than Due later than Contractual interest on non-current financial debt, including current portion -141 -442 -1 884 -4 603 -7 070 Lease liabilities 1 -65 -170 -574 -994 -1 803 Trade payables -4 432 -140 -4 572 Contingent consideration liabilities -17 -264 -395 -132 -808 1 2023 Due later than Due later than Contractual interest on non-current financial debt, including current portion -64 -372 -1 258 -3 376 -5 070 Lease liabilities 1 -65 -165 -635 -963 -1 828 Trade payables -4 793 -133 -4 926 Contingent consideration liabilities -14 -205 -184 -403 1
Potential impact on the consolidated income statement due to increase (decrease) in currency exchange rates	(USD millions) 2024 2023 5% increase in foreign currency exchange rates against USD -8 3 5% decrease in foreign currency exchange rates against USD 9 -3
Potential impact on the consolidated equity due to increase (decrease) in currency exchange rates	(USD millions) 2024 2023 5% increase in foreign currency exchange rates against USD 91 97 5% decrease in foreign currency exchange rates against USD -96 -102
Potential impact on the consolidated income statement due to increase (decrease) in equity prices	(USD millions) 2024 2023 15% increase in equity prices 90 91 15% decrease in equity prices -90 -91
Potential impact on the consolidated equity due to increase (decrease) in equity prices	(USD millions) 2024 2023 15% increase in equity prices 70 182 15% decrease in equity prices -70 -182

Discontinued operations (Tables

Discontinued operations (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of discontinued operations [abstract]
Net income from discontinued operations	(USD millions) 2023 1 2022 Net sales to third parties from discontinued operations 7 128 9 160 Sales to continuing segments 300 212 Net sales from discontinued operations 7 428 9 372 Other revenues 19 28 Cost of goods sold -4 044 -4 937 Gross profit from discontinued operations 3 403 4 463 Selling, general and administration -1 728 -2 060 Research and development -671 -824 Other income 56 109 Other expense -795 -437 Operating income from discontinued operations 265 1 251 Income from associated companies 2 2 Interest expense -33 -37 Other financial income and expense -20 -22 Income before taxes from discontinued operations 214 1 194 Income taxes 2 208 -288 Net income from discontinued operations before gain on distribution of Sandoz Group AG to Novartis AG shareholders 422 906 Gain on distribution of Sandoz Group AG to Novartis AG shareholders 3 5 860 Net income from discontinued operations 6 282 906 1 2 The tax rate in 2023 was impacted by non-recurring items such as tax benefits arising from intercompany transactions to effect the spin-off of the Sandoz business, net decreases in uncertain tax positions of the Sandoz business and the favorable settlement of a tax matter related to the Alcon business, which was spun-off in 2019. Excluding these impacts, the tax rate would have been 31.2% in 2023, compared with 24.1% % in 2022. The tax rate in 2023 is higher than 2022 primarily due to a change in profit mix between years. 3
Net assets derecognized	Oct 3, Property, plant and equipment 1 447 Right-of-use assets 133 Goodwill 7 424 Intangible assets other than goodwill 1 481 Deferred tax assets 624 Financial assets, investments in associated companies and other non-current assets 142 Inventories 2 565 Trade receivables and other current assets 2 935 Cash and cash equivalents 686 Deferred tax liabilities -270 Current and non-current lease liabilities -139 Current and non-current financial debts -3 691 Trade payables, provisions, current income tax liabilities and other liabilities -4 690 Net assets derecognized 8 647
Items included in net income from discontinued operations	(USD millions) 2023 1 2022 Interest income 2 2 Depreciation of property, plant and equipment -144 -196 Depreciation of right-of-use assets -32 -33 Amortization of intangible assets -171 -222 Impairment charges on property, plant and equipment -5 -3 Impairment charges on right-of-use assets -8 Impairment charges on intangible assets -44 -25 Impairment reversals of property, plant and equipment 1 3 Additions to restructuring provisions -27 -40 Equity-based compensation expense related to Novartis equity-based participation plans -60 -66 1
Additions to property, plant and equipment, right-of-use assets and goodwill and intangible assets for discontinued operations	(USD millions) 2023 1 Additions to property, plant and equipment 245 Additions to right-of-use assets 66 Additions to goodwill and intangible assets 221 1
Net cash flows used in investing activities from discontinued operations	(USD millions) 2023 2022 Payments out of provision for transaction cost attributable to the spin-off of the Sandoz business -52 Derecognized cash and cash equivalents attributable to the spin-off of the Sandoz business -686 Other cash flows used in investing activities, net -385 -436 Net cash flows used in investing activities from discontinued operations -1 123 -436

Principal Group subsidiaries _2

Principal Group subsidiaries and associated companies (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of subsidiaries [abstract]
Principal Group subsidiaries and associated companies	Share 1 Equity Argentina Novartis Argentina S.A. Ciudad de 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% Austria Novartis Holding GmbH Vienna 5 EUR 35 000 100% Novartis Pharmaceutical Manufacturing GmbH Langkampfen EUR 763 070 100% Novartis Pharma GmbH Vienna EUR 1.1 m 100% Bangladesh Novartis (Bangladesh) Limited Gazipur 5 BDT 162.5 m 60% Belgium Novartis Pharma NV Vilvoorde EUR 7.1 m 100% Novartis Manufacturing NV Puurs-Sint-Amands 5 EUR 110.6 m 100% Bermuda Novartis Investment Ltd. Hamilton 2 USD 12 000 100% Triangle International Reinsurance Limited Hamilton CHF 1.0 m 100% Trinity River Insurance Co Ltd. Hamilton 5 USD 370 000 100% Brazil Novartis Biociências S.A. São Paulo BRL 507.1 m 100% Canada Novartis Pharmaceuticals Canada Inc. Montreal, Quebec CAD 420 717 100% Chile Novartis Chile S.A. Santiago de Chile 5 CLP 2.0 bn 100% China Beijing Novartis Pharma Co., Ltd. Beijing 5 USD 30.0 m 100% Novartis Pharmaceutical Technology Zhejiang Co., Ltd. Haiyan 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% Colombia Novartis de Colombia S.A. Santafé de Bogotá COP 7.9 bn 100% Czech Republic Novartis s.r.o. Prague 5 CZK 51.5 m 100% Denmark Novartis Healthcare A/S Copenhagen DKK 14.0 m 100% Dominican Republic Novartis Caribe, S.A. Santo Domingo 5 DOP 20.0 m 100% Ecuador Novartis Ecuador S.A. Quito USD 4.0 m 100% Egypt Novartis Pharma S.A.E. Cairo EGP 2.1 bn 99.98% Finland Novartis Finland Oy Espoo EUR 459 000 100% France Novartis Groupe France S.A.S. Rueil-Malmaison 5 EUR 903.0 m 100% Novartis Pharma S.A.S. Rueil-Malmaison EUR 43.4 m 100% Advanced Accelerator Applications S.A. Rueil-Malmaison EUR 9.6 m 99.23% Germany Novartis Business Services GmbH Nuremberg EUR 25 000 100% Novartis Pharma GmbH Nuremberg EUR 25.6 m 100% Novartis Pharma Produktions GmbH Wehr EUR 2.0 m 100% MorphoSys GmbH Planegg EUR 50 000 100% Greece Novartis (Hellas) S.A.C.I. Metamorphosis / Athens EUR 141.7 m 100% Share 1 Equity Hungary Novartis Hungary Healthcare Limited Liability Company Budapest HUF 545.6 m 100% India Novartis India Limited Mumbai 5 INR 123.5 m 70.68% Novartis Healthcare Private Limited Mumbai INR 60.0 m 100% Indonesia PT. Novartis Indonesia Jakarta IDR 10.6 bn 100% Ireland Novartis Ireland Limited Dublin EUR 25 000 100% Novartis Integrated Services Limited Cork City 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. Colleretto Giacosa EUR 119 000 99.23% Japan Novartis Pharma K.K. Tokyo JPY 100.0 m 100% Ciba-Geigy Japan Limited 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 USD 100.0 m 100% Novartis Finance S.A. Luxembourg City USD 100 000 100% Malaysia Novartis Corporation (Malaysia) Sdn. Bhd. Petaling Jaya 5 MYR 3.3 m 100% Mexico Novartis Farmacéutica, S.A. de C.V. Mexico City MXN 206.7 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% Aduro Netherlands Coöperatief U.A. Rosmalen 4 -- -- -- Aduro Biotech Holdings, Europe B.V. Rosmalen EUR 46 216 100% Calypso Biotech B.V. Amsterdam EUR 7 252 96.8% IDB Holland BV Baarle-Nassau EUR 18 000 99.23% New Zealand Novartis New Zealand Ltd Auckland 5 NZD 820 000 100% 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% Peru Novartis Biosciences Perú S.A. Lima 5 PEN 1.4 m 100% Philippines Novartis Healthcare Philippines, Inc. Makati City 5 PHP 298.8 m 100% Poland Novartis Poland Sp. z o.o. Warsaw PLN 44.2 m 100% Portugal Novartis Portugal, S.G.P.S., Lda. Porto Salvo 5 EUR 500 000 100% Novartis Farma - Produtos Farmacêuticos, S.A. Porto Salvo EUR 2.4 m 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 m 100% Saudi Arabia Novartis Saudi Company Riyadh SAR 30.0 m 100% Share 1 Equity Singapore Novartis (Singapore) Pte Ltd. Singapore 5 SGD 100 000 100% Novartis Singapore Pharmaceutical Manufacturing Pte Ltd Singapore SGD 80.0 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 Novartis farmacevtska proizvodnja d.o.o. Ljubljana EUR 50.0 m 100% South Africa Novartis South Africa (Pty) Ltd Midrand ZAR 86.3 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% Abadia Retuerta S.A. Sardón de Duero / Valladolid EUR 6.0 m 100% Sweden Novartis Sverige AB Stockholm 5 SEK 5.0 m 100% Switzerland Novartis International AG Basel 5 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 Kapital 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 100 000 100% Novartis Pharma AG Basel 2 / 5 CHF 350.0 m 100% Novartis Pharma Services AG Basel CHF 20.0 m 100% Novartis Pharma Schweizerhalle AG Muttenz 5 CHF 18.9 m 100% Novartis Pharma Stein AG Stein 5 CHF 251 000 100% Novartis Pharma Schweiz AG Risch CHF 5.0 m 100% Novartis BidCo AG Basel CHF 100 000 100% Pharmanalytica SA Locarno 5 CHF 240 000 100% Renor AG Basel 5 CHF 50 000 100% Calypso Biotech SA Plan-les-Ouates CHF 100 000 100% Cellerys AG Schlieren CHF 129 630 20% Novartis Innovative Therapies AG Risch 5 CHF 100 000 100% Advanced Accelerator Applications International SA Geneva CHF 9.3 m 99.23% Taiwan Novartis (Taiwan) Co., Ltd. Taipei 5 TWD 170.0 m 100% Thailand Novartis (Thailand) Limited Bangkok 5 THB 302.0 m 100% Turkey Novartis Saglik, Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. Istanbul TRY 448.0 m 100% Share 1 Equity United Arab Emirates Novartis Middle East FZE Dubai AED 7.0 m 100% United Kingdom Novartis UK Limited London 5 GBP 25.5 m 100% Novartis Pharmaceuticals UK Limited London GBP 5.4 m 100% Novartis Grimsby Limited London GBP 250.0 m 100% Gyroscope Therapeutics Limited London GBP 1 492 100% 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 2 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 4 -- -- -- Novartis Manufacturing LLC East Hanover, NJ 4 -- -- -- Novartis Institutes for BioMedical Research, Inc. Cambridge, MA USD 1 100% Kate Therapeutics Inc. San Diego, CA USD 100 100% Cadent Therapeutics, Inc. Cambridge, MA USD 0.1 100% Constellation Pharmaceuticals, Inc. Boston, MA USD 50 100% Endocyte, Inc. East Hanover, NJ USD 1 100% Mariana Oncology Inc. Watertown, MA USD 1 100% MorphoSys US Inc. Boston, MA USD 50 100% Navigate BioPharma Services, Inc. Carlsbad, CA USD 1 100% The Medicines Company East Hanover, NJ USD 1 100% Chinook Therapeutics, Inc. Seattle, WA USD 1 100% Chinook Therapeutics U.S., Inc. Seattle, WA USD 1 100% Uruguay Novartis Uruguay S.A. Montevideo 5 UYU 7.3 m 100% Venezuela Novartis de Venezuela, S.A. Caracas 5 VES 0 100% Vietnam Novartis Vietnam Company Limited Ho Chi Minh City VND 70 bn 100% In addition, the Company is represented by subsidiaries and associated companies with total assets or net sales to third parties from continuing operations below USD 25 million in the following countries: Bosnia and Herzegovina, Bulgaria, Cameroon, Cayman Island, Croatia, Ghana, Guatemala, Ivory Coast, Kazakhstan, Kenya, Kuwait, Nigeria, Senegal and Ukraine. 1 2 3 4 5 m = million; bn = billion

Significant acquisition of bu_3

Significant acquisition of businesses (Details) € in Millions														1 Months Ended		12 Months Ended
	Oct. 31, 2024 USD ($)	Oct. 21, 2024 USD ($)	Oct. 21, 2024 EUR (€)	Oct. 15, 2024	May 30, 2024 USD ($)	May 23, 2024 USD ($)	May 23, 2024 EUR (€)	May 03, 2024 USD ($)	Oct. 03, 2023 USD ($)	Aug. 11, 2023 USD ($)	Jul. 14, 2023 USD ($)	Feb. 17, 2022 USD ($)	Dec. 22, 2021 USD ($)	May 23, 2024 USD ($)	May 23, 2024 EUR (€)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 SFr / shares	Sep. 30, 2024 USD ($)	Aug. 31, 2024 USD ($)	Aug. 31, 2024 EUR (€)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	May 30, 2024 EUR (€)	Apr. 11, 2024 USD ($)	Apr. 11, 2024 EUR (€)	Dec. 31, 2023 SFr / shares	Sep. 18, 2023 USD ($)	Sep. 18, 2023 EUR (€)	Dec. 31, 2022 SFr / shares
Disclosure of detailed information about business combination [line items]
Identifiable assets acquired (liabilities assumed)																$ 4,629,000,000	$ 3,925,000,000
Profit (loss) from discontinued operations																	6,282,000,000	$ 906,000,000
Par value per share | SFr / shares																			SFr 0.49									SFr 0.49			SFr 0.50
Deferred tax liability (asset)																(1,940,000,000)	(2,061,000,000)	(1,053,000,000)
Intangible assets other than goodwill																26,915,000,000	26,879,000,000
Revenue from sale of goods																50,317,000,000	45,440,000,000	42,206,000,000
Other borrowings																523,000,000
Dividend in kind distribution liability									$ 13,962,000,000
Borrowings																24,722,000,000	20,627,000,000
Difference between carrying amount of dividends payable and carrying amount of non-cash assets distributed									5,315,000,000
Difference between carrying amount of dividends payable and carrying amount of non-cash assets distributed, Net									5,860,000,000								5,860,000,000
Non-controlling interests																80,000,000	83,000,000
Other current financial assets																1,998,000,000	1,035,000,000
Goodwill
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																24,756,000,000	23,341,000,000	29,301,000,000
Goodwill | Gross carrying amount
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																25,665,000,000	23,391,000,000	29,596,000,000
Goodwill | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																(909,000,000)	(50,000,000)	(295,000,000)
Intangible Assets other than Goodwill
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																26,915,000,000	26,879,000,000	31,644,000,000
Intangible Assets other than Goodwill | Gross carrying amount
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																60,206,000,000	58,319,000,000	69,684,000,000
Intangible Assets other than Goodwill | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																(33,291,000,000)	(31,440,000,000)	(38,040,000,000)
Acquired research and development [member]
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																7,222,000,000	5,329,000,000	4,421,000,000
Acquired research and development [member] | Gross carrying amount
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																9,621,000,000	7,822,000,000	7,092,000,000
Acquired research and development [member] | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																(2,399,000,000)	(2,493,000,000)	(2,671,000,000)
Currently marketed products
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																16,912,000,000	20,017,000,000	25,513,000,000
Currently marketed products | Gross carrying amount
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																45,462,000,000	46,909,000,000	58,249,000,000
Currently marketed products | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about business combination [line items]
Impairment loss recognised in profit or loss, intangible assets and goodwill																	(300,000,000)
Intangible assets and goodwill																(28,550,000,000)	(26,892,000,000)	(32,736,000,000)
Other intangible assets
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																2,781,000,000	1,533,000,000	1,710,000,000
Other intangible assets | Gross carrying amount
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																5,123,000,000	3,588,000,000	4,343,000,000
Other intangible assets | Accumulated depreciation, amortisation and impairment
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																$ (2,342,000,000)	(2,055,000,000)	(2,633,000,000)
Sandoz
Disclosure of detailed information about business combination [line items]
Detailed information about significant transaction																The conditions precedent to the spin-off were met and on October 3, 2023 the spin-off of the Sandoz business was effected by way of a distribution of a dividend in kind of Sandoz Group AG shares to Novartis AG shareholders and American Depositary Receipt (ADR) holders (the Distribution). Through the Distribution, each Novartis AG shareholder received one Sandoz Group AG share for every five Novartis AG shares and each Novartis ADR holder received one Sandoz ADR for every five Novartis ADR that they held at the close of business on October 3, 2023. As of October 4, 2023, the shares of Sandoz Group AG have been listed on the SIX Swiss Exchange (SIX) under the stock symbol “SDZ”.
Gyroscope Therapeutics Holdings plc.
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
Chinook Therapeutics
Disclosure of detailed information about business combination [line items]
Consideration transferred, acquisition-date fair value										$ 3,300,000,000
Portion of consideration paid (received) consisting of cash and cash equivalents										(3,200,000,000)
Portion of consideration paid consisting of cash and cash equivalents upfront payment										(100,000,000)
Identifiable assets acquired (liabilities assumed)										2,400,000,000
Additional recognition, goodwill										900,000,000
Other net assets										300,000,000
Deferred tax liability (asset)										400,000,000
Intangible assets other than goodwill										2,500,000,000
Potential milestone maximum payments										300,000,000
Contingent consideration recognised as of acquisition date										$ 100,000,000
DTx Pharma Inc.
Disclosure of detailed information about business combination [line items]
Consideration transferred, acquisition-date fair value											$ 600,000,000
Portion of consideration paid (received) consisting of cash and cash equivalents											(600,000,000)
Portion of consideration paid consisting of cash and cash equivalents upfront payment											(100,000,000)
Identifiable assets acquired (liabilities assumed)											400,000,000
Additional recognition, goodwill											200,000,000
Deferred tax liability (asset)											100,000,000
Intangible assets other than goodwill											400,000,000
Potential milestone maximum payments											500,000,000
Contingent consideration recognised as of acquisition date											$ 30,000,000
Kate Therapeutics, Inc.
Disclosure of detailed information about business combination [line items]
Consideration transferred, acquisition-date fair value	$ 518,000,000
Portion of consideration paid (received) consisting of cash and cash equivalents	(427,000,000)
Portion of consideration paid consisting of cash and cash equivalents upfront payment	(6,000,000)
Identifiable assets acquired (liabilities assumed)	234,000,000
Additional recognition, goodwill	284,000,000
Deferred tax liability (asset)	41,000,000
Other net assets liabilities	(1,000,000)
Potential milestone maximum payments	700,000,000
Customary purchase price adjustment	2,000,000
Contingent consideration recognised as of acquisition date	91,000,000
Kate Therapeutics, Inc. | Acquired research and development [member]
Disclosure of detailed information about business combination [line items]
Intangible assets other than goodwill	135,000,000
Kate Therapeutics, Inc. | Other intangible assets
Disclosure of detailed information about business combination [line items]
Intangible assets other than goodwill	$ 135,000,000
MorphoSys AG
Disclosure of detailed information about business combination [line items]
Consideration transferred, acquisition-date fair value					$ 2,500,000,000																				€ 2,300		€ 2,600
Portion of consideration paid consisting of cash and cash equivalents upfront payment					(200,000,000)	$ (1,900,000,000)	€ (1,700)							$ (300,000,000)	€ (300)
Identifiable assets acquired (liabilities assumed)					700,000,000
Additional recognition, goodwill					$ 1,900,000,000
Percentage of Share capital in tender offer						65%	65%							65%	65%											65%	65%
Cash offer per ordinary share																										$ 68
Percentage of share capital tendered at the expiration of the tender offer					89.70%																				89.70%
Deferred tax liability (asset)					$ 100,000,000
Intangible assets other than goodwill					1,100,000,000
Consideration paid for share capital tendered at the subsequent offering period of the tender offer					300,000,000																				€ 300
Other net assets liabilities					$ (200,000,000)
Impairment loss recognised in profit or loss, intangible assets and goodwill																$ (900,000,000)
Percentage of share capital purchased by the company outside the tender offer																					3.20%	3.20%	1.70%	1.70%
Proportion of ownership interests held by non-controlling interests				0%	10.30%
Non-controlling interests					$ 100,000,000
Financial investments and other receivable					200,000,000
Other current financial assets					400,000,000
Financial debt to third parties					900,000,000
Purchase of non-controlling interests																					$ 90,000,000	€ 83	$ 47,000,000	€ 44
Percentage of share capital owned				100%																94.50%			91.40%	91.40%
Payment to the former remaining minority shareholders		$ 156,000,000	€ 144
Terminal Growth Rate																(15.00%)
Discount Rate (post-tax)																8.50%
MorphoSys AG | Goodwill | Gross carrying amount
Disclosure of detailed information about business combination [line items]
Intangible assets and goodwill																$ 1,000,000,000
MorphoSys AG | Acquired research and development [member]
Disclosure of detailed information about business combination [line items]
Intangible assets other than goodwill					600,000,000
MorphoSys AG | Other intangible assets
Disclosure of detailed information about business combination [line items]
Intangible assets other than goodwill					$ 500,000,000
Mariana Oncology, Inc.
Disclosure of detailed information about business combination [line items]
Consideration transferred, acquisition-date fair value								$ 1,280,000,000
Portion of consideration paid (received) consisting of cash and cash equivalents								(1,040,000,000)
Portion of consideration paid consisting of cash and cash equivalents upfront payment								(80,000,000)
Identifiable assets acquired (liabilities assumed)								754,000,000
Additional recognition, goodwill								528,000,000
Deferred tax liability (asset)								133,000,000
Other net assets liabilities								(10,000,000)
Potential milestone maximum payments								750,000,000
Contingent consideration recognised as of acquisition date								239,000,000
Mariana Oncology, Inc. | Acquired research and development [member]
Disclosure of detailed information about business combination [line items]
Intangible assets other than goodwill								344,000,000
Mariana Oncology, Inc. | Other intangible assets
Disclosure of detailed information about business combination [line items]
Intangible assets other than goodwill								$ 473,000,000
Continuing operations
Disclosure of detailed information about business combination [line items]
Depreciation, property, plant and equipment																885,000,000	916,000,000	967,000,000
Impairment loss recognised in profit or loss, intangible assets and goodwill																(1,433,000,000)	(3,048,000,000)	(1,301,000,000)
Continuing operations | Goodwill
Disclosure of detailed information about business combination [line items]
Impairment loss recognised in profit or loss, intangible assets and goodwill																(910,000,000)
Continuing operations | Intangible Assets other than Goodwill
Disclosure of detailed information about business combination [line items]
Amortisation, intangible assets other than goodwill																3,457,000,000	3,960,000,000	3,760,000,000
Impairment loss recognised in profit or loss, intangible assets and goodwill																(523,000,000)	(3,048,000,000)
Continuing operations | Acquired research and development [member]
Disclosure of detailed information about business combination [line items]
Impairment loss recognised in profit or loss, intangible assets and goodwill																(471,000,000)	(2,544,000,000)
Continuing operations | Currently marketed products
Disclosure of detailed information about business combination [line items]
Amortisation, intangible assets other than goodwill																2,964,000,000	3,319,000,000
Impairment loss recognised in profit or loss, intangible assets and goodwill																	(310,000,000)
Continuing operations | Other intangible assets
Disclosure of detailed information about business combination [line items]
Amortisation, intangible assets other than goodwill																493,000,000	641,000,000
Impairment loss recognised in profit or loss, intangible assets and goodwill																$ (52,000,000)	(194,000,000)
Discontinued operations
Disclosure of detailed information about business combination [line items]
Deferred tax liability (asset)																		413,000,000
Intangible assets other than goodwill									1,481,000,000
Revenue from sale of goods																	$ 7,428,000,000	$ 9,372,000,000
Discontinued operations | Sandoz
Disclosure of detailed information about business combination [line items]
Repayment of intercompany balances									(3,300,000,000)
Other borrowings																													$ 3,300,000,000
Dividend in kind distribution liability									14,000,000,000
Borrowings																				$ 3,700,000,000
Financial assets, at fair value									$ 500,000,000
Percentage of equity interest shares received									4.31%
Discontinued operations | Sandoz | Bridge loan [member]
Disclosure of detailed information about business combination [line items]
Other borrowings | €																														€ 2,400
Discontinued operations | Sandoz | Term loan [member]
Disclosure of detailed information about business combination [line items]
Other borrowings																													500,000,000	€ 200
Discontinued operations | Sandoz | Local bilateral facilities [member]
Disclosure of detailed information about business combination [line items]
Other borrowings																													$ 400,000,000
Subsidiaries [member] | The Medicines Company
Disclosure of detailed information about business combination [line items]
Proportion of ownership interest in subsidiary																100%

Significant acquisition of bu_4

Significant acquisition of businesses (Details 1) - USD ($) $ in Millions		12 Months Ended
	Oct. 03, 2023	Dec. 31, 2023
Disclosure of detailed information about business combination [line items]
Net assets derecognized	$ 8,647
Derecognition of distribution liability	13,962
Difference between net assets and distribution liability	5,315
Distribution of dividend to dividend bearing shares	492
Cumulative currency translation gains/losses recycled through income statement	357
Transaction costs recognized in the consolidated income statement	(304)
Gain on distribution of Sandoz Group AG to Novartis AG shareholders	$ 5,860	$ 5,860

Significant acquisition of bu_5

Significant acquisition of businesses (Details 2) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [line items]
Property, plant and equipment recognised as of acquisition date	$ 20	$ 18
Right of use assets as of acquisition date	47	16
Acquired research and development intangible assets recognised as of acquisition date	1,424	2,931
Other intangible assets recognised as of acquisition date	1,156	15
Deferred tax assets recognised as of acquisition date	465	34
Non-current financial and other assets	31	164
Trade receivables and other current assets recognised as of acquisition date	613	183
Cash and cash equivalents recognised as of acquisition date	242	226
Deferred tax liabilities	(799)	(474)
Current and non-current financial debts	(852)
Current and non-current lease liabilities	(47)	(51)
Trade payables and other liabilities	(297)	(231)
Identifiable assets acquired	2,003	2,831
Non-controlling interests	(75)
Goodwill recognised as of acquisition date	2,701	1,094
Identifiable assets acquired (liabilities assumed)	$ 4,629	3,925
Goodwill expected to be deductible for tax purposes		$ 0

Operating segment (Details)

Operating segment (Details)	12 Months Ended
	Dec. 31, 2024
Disclosure of operating segments [line items]
Number of Reportable Segments	single global operating segment

Revenues and geographic infor_3

Revenues and geographic information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of operating segments [line items]
Net sales to third parties from continuing operations	$ 50,317	$ 44,635	$ 41,385
Sales to discontinued operations		805	821
Net sales from continuing operations	$ 50,317	$ 45,440	$ 42,206

Revenues and geographic infor_4

Revenues and geographic information (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 50,317	$ 45,440	$ 42,206
Net sales (in % of total net sales)	100%	100%	100%
Total of selected non-current assets	$ 63,085	$ 61,564
Selected non-current assets (in % of total selected non-current assets)	100%	100%
Switzerland
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,315	$ 1,308	$ 1,036
Net sales (in % of total net sales)	3%	3%	2%
Total of selected non-current assets	$ 18,759	$ 19,396
Selected non-current assets (in % of total selected non-current assets)	30%	32%
US
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 21,146	$ 17,959	$ 15,935
Net sales (in % of total net sales)	42%	40%	38%
Total of selected non-current assets	$ 34,999	$ 34,059
Selected non-current assets (in % of total selected non-current assets)	55%	55%
China
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 3,890	$ 3,267	$ 2,948
Net sales (in % of total net sales)	8%	7%	7%
Total of selected non-current assets	$ 530	$ 547
Selected non-current assets (in % of total selected non-current assets)	1%	1%
Germany
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 3,660	$ 3,367	$ 3,101
Net sales (in % of total net sales)	7%	7%	7%
Total of selected non-current assets	$ 1,554	$ 88
Selected non-current assets (in % of total selected non-current assets)	2%
France
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,792	$ 1,749	$ 1,754
Net sales (in % of total net sales)	4%	4%	4%
Total of selected non-current assets	$ 2,640	$ 3,085
Selected non-current assets (in % of total selected non-current assets)	4%	5%
Other
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 18,514	$ 17,790	$ 17,432
Net sales (in % of total net sales)	36%	39%	42%
Total of selected non-current assets	$ 4,603	$ 4,389
Selected non-current assets (in % of total selected non-current assets)	8%	7%

Revenues and geographic infor_5

Revenues and geographic information - Net sales by region (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 50,317	$ 45,440	$ 42,206
Net sales, change in %	11%	8%
Change to prior year-end [member]
Disclosure of operating segments [line items]
Net sales, change in %	11%	8%
US
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 21,146	$ 17,959	15,935
US | Change to prior year-end [member]
Disclosure of operating segments [line items]
Net sales, change in %	18%	13%
Europe [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 15,557	$ 14,997	14,371
Europe [member] | Change to prior year-end [member]
Disclosure of operating segments [line items]
Net sales, change in %	4%	4%
Asia/Africa/Australasia [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 10,021	$ 9,308	8,978
Asia/Africa/Australasia [member] | Change to prior year-end [member]
Disclosure of operating segments [line items]
Net sales, change in %	8%	4%
Canada and Latin America [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 3,593	$ 3,176	2,922
Canada and Latin America [member] | Change to prior year-end [member]
Disclosure of operating segments [line items]
Net sales, change in %	13%	9%
Established Markets [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 37,371	$ 33,725	31,386
Established Markets [member] | Change to prior year-end [member]
Disclosure of operating segments [line items]
Net sales, change in %	11%	7%
Emerging Growth Markets [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 12,946	$ 11,715	$ 10,820
Emerging Growth Markets [member] | Change to prior year-end [member]
Disclosure of operating segments [line items]
Net sales, change in %	11%	8%

Revenues and geographic infor_6

Revenues and geographic information (Details 3)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of major customers [line items]
Customers with net sales over five percent	The Company’s largest, second-largest and third-largest customers account for approximately 17%, 13% and 7% of net sales from third parties from continuing operations, respectively (2023: 15%, 13% and 8%, respectively; 2022: 16%, 12% and 8%, respectively). The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 19%, 12% and 7%, respectively, of the trade receivables at December 31, 2024 (2023: 17%, 13% and 8%, respectively).
Largest customer [member]
Disclosure of major customers [line items]
Percentage of entity's revenue	17%	15%	16%
Percentage of entitys trade receivable	19%	17%
Second largest customer [member]
Disclosure of major customers [line items]
Percentage of entity's revenue	13%	13%	12%
Percentage of entitys trade receivable	12%	13%
Third largest customer [member]
Disclosure of major customers [line items]
Percentage of entity's revenue	7%	8%	8%
Percentage of entitys trade receivable	7%	8%

Revenues and geographic infor_7

Revenues and geographic information (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 50,317	$ 45,440	$ 42,206
Net sales, change in %	11%	8%
Change to prior year-end [member]
Disclosure of operating segments [line items]
Net sales, change in %	11%	8%
Cardiovascular, renal and metabolic [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 8,576	$ 6,390	4,756
Net sales, change in %	34%	34%
Cardiovascular, renal and metabolic [member] | Entresto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 7,822	$ 6,035	4,644
Net sales, change in %	30%	30%
Cardiovascular, renal and metabolic [member] | Leqvio [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 754	$ 355	112
Net sales, change in %	112%	217%
Immunology [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 9,293	$ 7,798	7,286
Net sales, change in %	19%	7%
Immunology [member] | Cosentyx [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 6,141	$ 4,980	4,788
Net sales, change in %	23%	4%
Immunology [member] | Xolair [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,643	$ 1,463	1,365
Net sales, change in %	12%	7%
Immunology [member] | Ilaris [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,509	$ 1,355	1,133
Net sales, change in %	11%	20%
Neuroscience [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 4,750	$ 3,651	2,680
Net sales, change in %	30%	36%
Neuroscience [member] | Kesimpta [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 3,224	$ 2,171	1,092
Net sales, change in %	49%	99%
Neuroscience [member] | Zolgensma [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,214	$ 1,214	1,370
Net sales, change in %	0%	(11.00%)
Neuroscience [member] | Aimovig [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 312	$ 266	218
Net sales, change in %	17%	22%
Oncology [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 14,740	$ 12,851	10,373
Net sales, change in %	15%	24%
Oncology [member] | Kisqali [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 3,033	$ 2,080	1,231
Net sales, change in %	46%	69%
Oncology [member] | Promacta/Revolade [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 2,216	$ 2,269	2,088
Net sales, change in %	(2.00%)	9%
Oncology [member] | Tafinlar + Mekinist [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 2,058	$ 1,922	1,770
Net sales, change in %	7%	9%
Oncology [member] | Jakavi [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,936	$ 1,720	1,561
Net sales, change in %	13%	10%
Oncology [member] | Tasigna [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,671	$ 1,848	1,923
Net sales, change in %	(10.00%)	(4.00%)
Oncology [member] | Pluvicto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,392	$ 980	271
Net sales, change in %	42%	262%
Oncology [member] | Lutathera [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 724	$ 605	471
Net sales, change in %	20%	28%
Oncology [member] | Scemblix [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 689	$ 413	149
Net sales, change in %	67%	177%
Oncology [member] | Piqray/Vijoice [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 449	$ 505	373
Net sales, change in %	(11.00%)	35%
Oncology [member] | Kymriah [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 443	$ 508	536
Net sales, change in %	(13.00%)	(5.00%)
Oncology [member] | Fabhalta [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 129	$ 1
Established Brands [member] | Sandostatin Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,279	$ 1,314	1,238
Net sales, change in %	(3.00%)	6%
Established Brands [member] | Lucentis [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,044	$ 1,475	1,874
Net sales, change in %	(29.00%)	(21.00%)
Established Brands [member] | Exforge Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 703	$ 713	743
Net sales, change in %	(1.00%)	(4.00%)
Established Brands [member] | Galvus Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 602	$ 692	859
Net sales, change in %	(13.00%)	(19.00%)
Established Brands [member] | Diovan Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 590	$ 613	652
Net sales, change in %	(4.00%)	(6.00%)
Established Brands [member] | Gilenya [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 552	$ 925	2,013
Net sales, change in %	(40.00%)	(54.00%)
Established Brands [member] | Contract manufacturing [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 1,152	$ 1,490	1,200
Net sales, change in %	(23.00%)	24%
Established Brands [member] | Other [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 7,036	$ 7,528	8,532
Net sales, change in %	(7.00%)	(12.00%)
Established Brands [member] | Established Brands [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 12,958	$ 14,750	$ 17,111
Net sales, change in %	(12.00%)	(14.00%)

Revenues and geographic infor_8

Revenues and geographic information - Top 20 (Details 5) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 50,317	$ 45,440	$ 42,206
Top 20 products [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	40,244	34,935	32,137
Rest of portfolio [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	10,073	10,505	10,069
Cardiovascular, renal and metabolic [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	8,576	6,390	4,756
Cardiovascular, renal and metabolic [member] | Entresto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	7,822	6,035	4,644
Cardiovascular, renal and metabolic [member] | Leqvio [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	754	355	112
Cardiovascular, renal and metabolic [member] | Top 20 products [member] | Entresto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	7,822	6,035	4,644
Cardiovascular, renal and metabolic [member] | Top 20 products [member] | Leqvio [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	754
Immunology [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	9,293	7,798	7,286
Immunology [member] | Cosentyx [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	6,141	4,980	4,788
Immunology [member] | Xolair [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,643	1,463	1,365
Immunology [member] | Ilaris [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,509	1,355	1,133
Immunology [member] | Top 20 products [member] | Cosentyx [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	6,141	4,980	4,788
Immunology [member] | Top 20 products [member] | Xolair [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,643	1,463	1,365
Immunology [member] | Top 20 products [member] | Ilaris [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,509	1,355	1,133
Neuroscience [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	4,750	3,651	2,680
Neuroscience [member] | Kesimpta [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	3,224	2,171	1,092
Neuroscience [member] | Zolgensma [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,214	1,214	1,370
Neuroscience [member] | Top 20 products [member] | Kesimpta [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	3,224	2,171	1,092
Neuroscience [member] | Top 20 products [member] | Zolgensma [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,214	1,214	1,370
Oncology [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	14,740	12,851	10,373
Oncology [member] | Kisqali [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	3,033	2,080	1,231
Oncology [member] | Promacta/Revolade [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	2,216	2,269	2,088
Oncology [member] | Tafinlar + Mekinist [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	2,058	1,922	1,770
Oncology [member] | Jakavi [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,936	1,720	1,561
Oncology [member] | Tasigna [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,671	1,848	1,923
Oncology [member] | Pluvicto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,392	980	271
Oncology [member] | Lutathera [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	724	605	471
Oncology [member] | Scemblix [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	689	413	149
Oncology [member] | Kymriah [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	443	508	536
Oncology [member] | Top 20 products [member] | Kisqali [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	3,033	2,080	1,231
Oncology [member] | Top 20 products [member] | Promacta/Revolade [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	2,216	2,269	2,088
Oncology [member] | Top 20 products [member] | Tafinlar + Mekinist [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	2,058	1,922	1,770
Oncology [member] | Top 20 products [member] | Jakavi [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,936	1,720	1,561
Oncology [member] | Top 20 products [member] | Tasigna [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,671	1,848	1,923
Oncology [member] | Top 20 products [member] | Pluvicto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,392	980
Oncology [member] | Top 20 products [member] | Lutathera [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	724	605
Oncology [member] | Top 20 products [member] | Scemblix [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	689
Oncology [member] | Top 20 products [member] | Kymriah [member]
Disclosure of operating segments [line items]
Net sales from continuing operations			536
Established Brands [member] | Sandostatin Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,279	1,314	1,238
Established Brands [member] | Lucentis [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,044	1,475	1,874
Established Brands [member] | Exforge Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	703	713	743
Established Brands [member] | Galvus Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	602	692	859
Established Brands [member] | Diovan Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	590	613	652
Established Brands [member] | Gilenya [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	552	925	2,013
Established Brands [member] | Top 20 products [member] | Sandostatin Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,279	1,314	1,238
Established Brands [member] | Top 20 products [member] | Lucentis [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,044	1,475	1,874
Established Brands [member] | Top 20 products [member] | Exforge Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	703	713	743
Established Brands [member] | Top 20 products [member] | Galvus Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	602	692	859
Established Brands [member] | Top 20 products [member] | Diovan Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	590	613	652
Established Brands [member] | Top 20 products [member] | Gilenya [member]
Disclosure of operating segments [line items]
Net sales from continuing operations		925	2,013
Established Brands [member] | Top 20 products [member] | Gleevec/Glivec [member]
Disclosure of operating segments [line items]
Net sales from continuing operations		561	745
Established Brands [member] | Top 20 products [member] | Afinitor/Votubia [member]
Disclosure of operating segments [line items]
Net sales from continuing operations			512
Established Brands [member] | Established Brands [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	12,958	14,750	17,111
US
Disclosure of operating segments [line items]
Net sales from continuing operations	21,146	17,959	15,935
US | Top 20 products [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	18,885	14,952	12,753
US | Rest of portfolio [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	2,261	3,007	3,182
US | Cardiovascular, renal and metabolic [member] | Top 20 products [member] | Entresto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	4,052	3,067	2,354
US | Cardiovascular, renal and metabolic [member] | Top 20 products [member] | Leqvio [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	385
US | Immunology [member] | Top 20 products [member] | Cosentyx [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	3,530	2,636	2,770
US | Immunology [member] | Top 20 products [member] | Ilaris [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	798	686	570
US | Neuroscience [member] | Top 20 products [member] | Kesimpta [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	2,183	1,528	921
US | Neuroscience [member] | Top 20 products [member] | Zolgensma [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	435	372	434
US | Oncology [member] | Top 20 products [member] | Kisqali [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,678	1,032	472
US | Oncology [member] | Top 20 products [member] | Promacta/Revolade [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,181	1,205	1,083
US | Oncology [member] | Top 20 products [member] | Tafinlar + Mekinist [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	848	791	678
US | Oncology [member] | Top 20 products [member] | Tasigna [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	848	884	877
US | Oncology [member] | Top 20 products [member] | Pluvicto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,157	921
US | Oncology [member] | Top 20 products [member] | Lutathera [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	513	427
US | Oncology [member] | Top 20 products [member] | Scemblix [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	436
US | Oncology [member] | Top 20 products [member] | Kymriah [member]
Disclosure of operating segments [line items]
Net sales from continuing operations			196
US | Established Brands [member] | Top 20 products [member] | Sandostatin Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	805	829	800
US | Established Brands [member] | Top 20 products [member] | Exforge Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	8	13	14
US | Established Brands [member] | Top 20 products [member] | Diovan Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	28	52	55
US | Established Brands [member] | Top 20 products [member] | Gilenya [member]
Disclosure of operating segments [line items]
Net sales from continuing operations		359	1,153
US | Established Brands [member] | Top 20 products [member] | Gleevec/Glivec [member]
Disclosure of operating segments [line items]
Net sales from continuing operations		150	205
US | Established Brands [member] | Top 20 products [member] | Afinitor/Votubia [member]
Disclosure of operating segments [line items]
Net sales from continuing operations			171
Rest of the world [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	29,171	27,481	26,271
Rest of the world [member] | Top 20 products [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	21,359	19,983	19,384
Rest of the world [member] | Rest of portfolio [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	7,812	7,498	6,887
Rest of the world [member] | Cardiovascular, renal and metabolic [member] | Top 20 products [member] | Entresto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	3,770	2,968	2,290
Rest of the world [member] | Cardiovascular, renal and metabolic [member] | Top 20 products [member] | Leqvio [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	369
Rest of the world [member] | Immunology [member] | Top 20 products [member] | Cosentyx [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	2,611	2,344	2,018
Rest of the world [member] | Immunology [member] | Top 20 products [member] | Xolair [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,643	1,463	1,365
Rest of the world [member] | Immunology [member] | Top 20 products [member] | Ilaris [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	711	669	563
Rest of the world [member] | Neuroscience [member] | Top 20 products [member] | Kesimpta [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,041	643	171
Rest of the world [member] | Neuroscience [member] | Top 20 products [member] | Zolgensma [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	779	842	936
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Kisqali [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,355	1,048	759
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Promacta/Revolade [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,035	1,064	1,005
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Tafinlar + Mekinist [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,210	1,131	1,092
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Jakavi [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,936	1,720	1,561
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Tasigna [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	823	964	1,046
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Pluvicto [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	235	59
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Lutathera [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	211	178
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Scemblix [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	253
Rest of the world [member] | Oncology [member] | Top 20 products [member] | Kymriah [member]
Disclosure of operating segments [line items]
Net sales from continuing operations			340
Rest of the world [member] | Established Brands [member] | Top 20 products [member] | Sandostatin Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	474	485	438
Rest of the world [member] | Established Brands [member] | Top 20 products [member] | Lucentis [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	1,044	1,475	1,874
Rest of the world [member] | Established Brands [member] | Top 20 products [member] | Exforge Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	695	700	729
Rest of the world [member] | Established Brands [member] | Top 20 products [member] | Galvus Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	602	692	859
Rest of the world [member] | Established Brands [member] | Top 20 products [member] | Diovan Group [member]
Disclosure of operating segments [line items]
Net sales from continuing operations	$ 562	561	597
Rest of the world [member] | Established Brands [member] | Top 20 products [member] | Gilenya [member]
Disclosure of operating segments [line items]
Net sales from continuing operations		566	860
Rest of the world [member] | Established Brands [member] | Top 20 products [member] | Gleevec/Glivec [member]
Disclosure of operating segments [line items]
Net sales from continuing operations		$ 411	540
Rest of the world [member] | Established Brands [member] | Top 20 products [member] | Afinitor/Votubia [member]
Disclosure of operating segments [line items]
Net sales from continuing operations			$ 341

Revenues and geographic infor_9

Revenues and geographic information (Details 6) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of operating segments [line items]
Profit sharing income	$ 1,063	$ 941	$ 921
Royalty income	37	87	35
Milestone income	28	45	145
Other	277	147	154
Other revenues	$ 1,405	$ 1,220	$ 1,255

Interest expense and other fi_3

Interest expense and other financial income and expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Interest expense [abstract]
Interest expense	$ (871)	$ (730)	$ (642)
Interest expense on lease liabilities	(72)	(62)	(57)
Expense arising from discounting long-term liabilities and capitalized borrowing costs	(68)	(66)	(103)
Borrowing costs capitalised	5	3	2
Total interest expense	$ (1,006)	$ (855)	$ (800)

Interest expense and other fi_4

Interest expense and other financial income and expense (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other financial income and expense [abstract]
Interest income	$ 568	$ 627	$ 377
Other financial income	92	21	19
Monetary loss from hyperinflation accounting	(231)	(194)	(137)
Financial expense	(31)	(18)	(33)
Currency result, net	(258)	(214)	(184)
Total other financial income and expense	140	$ 222	$ 42
Realized gain on commodities	$ 78

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Income before taxes from continuing operations	$ 13,640	$ 9,123	$ 7,177
Switzerland
Statement [line items]
Income before taxes from continuing operations	10,098	9,719	5,751
Foreign
Statement [line items]
Income before taxes from continuing operations	$ 3,542	(596)	1,426
Discontinued operations [member]
Statement [line items]
Income before taxes from continuing operations		$ 214	$ 1,194

Income taxes (Details 1)

Income taxes (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Current tax expense (income)	$ (2,383)	$ (2,426)	$ (1,753)
Deferred tax expense (income)	682	1,875	625
Income tax expense from continuing operations	(1,701)	(551)	(1,128)
Switzerland
Statement [line items]
Current tax expense (income)	(897)	(1,136)	(598)
Deferred tax expense (income)	(245)	355	(131)
Foreign
Statement [line items]
Current tax expense (income)	(1,486)	(1,290)	(1,155)
Deferred tax expense (income)	$ 927	1,520	756
Discontinued operations [member]
Statement [line items]
Income tax expense from continuing operations		$ 208	$ (288)

Income taxes (Details 2)

Income taxes (Details 2)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Applicable tax rate	12.30%	15%	15.30%
Effect of disallowed expenditures	1.60%	1.40%	2.60%
Effect of income taxed at reduced rates	(0.20%)	(0.60%)	(0.40%)
Effect of income not subject to tax	(0.10%)	(2.50%)	(0.10%)
Effect of tax credits and allowances	(3.20%)	(3.90%)	(4.10%)
Effect of release of contingent consideration liability	0%	(0.30%)	(0.50%)
Effect of tax rate change on current and deferred tax assets and liabilities	0.30%	(1.60%)	0%
Effect of derecognition and reversals of derecognition of deferred tax assets	1.40%	0.90%	1.30%
Effect of write down and reversal of write down of investments in subsidiaries	(1.20%)	(3.00%)	0%
Effect of prior year items	(0.60%)	0%	(0.30%)
Effective income tax rate reconciliation change in uncertain tax positions	(1.80%)	0.10%	1.70%
Effect of other items	4%	0.50%	0.20%
Effective tax rate from continuing operations	12.50%	6%	15.70%
Effect of non-deductible impairment of goodwill	1.70%
Effect related to Swiss Patent Box regime	1%
Switzerland
Statement [line items]
Minimum taxation rate	15%
Minimum top-up tax rate on the profits of foreign subsidiaries	15%
Discontinued operations [member]
Statement [line items]
Applicable tax rate		31.20%	24.10%

Earnings per share (Details)

Earnings per share (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Earnings per share [line items]
Profit/loss attributable to shareholders of Novartis AG | $	$ 11,941	$ 14,850	$ 6,955
Weighted average number of shares outstanding used in the basic earnings per share | shares	2,018	2,077	2,181
Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options | shares	17	15	16
Weighted average number of shares in diluted earnings per share | shares	2,035	2,092	2,197
Basic earnings per share, Continuing operations	$ 5.92	$ 4.13	$ 2.77
Basic earnings per share, Discontinued operations		3.02	0.42
Total basic earnings per share	5.92	7.15	3.19
Diluted earnings per share, Continuing operations	5.87	4.10	2.76
Diluted earnings per share, Discontinued operations		3	0.41
Total diluted earnings per share	$ 5.87	$ 7.10	$ 3.17
Disclosure of instruments with potential future dilutive effect not included in calculation of diluted earnings per share [text block]	For diluted EPS, the weighted average number of shares outstanding is adjusted to assume the vesting of dilutive restricted shares (RSs), restricted share units (RSUs) and performance share units (PSUs), and in 2022 also the conversion of potentially dilutive shares arising from options on Novartis shares under employee compensation plans that have been issued. In January 2023, all outstanding options under these plans expired. As a result, there were no options on Novartis shares issued or outstanding at December 31, 2024 and 2023. No RSs, RSUs or PSUs in 2024, 2023 and 2022, and no options in 2022 were excluded from the calculation of diluted EPS, as all were dilutive.
Options excluded from the calculation			0
Continuing operations [member]
Earnings per share [line items]
Profit/loss attributable to shareholders of Novartis AG | $	$ 11,941	$ 8,568	$ 6,049
Discontinued operations [member]
Earnings per share [line items]
Profit/loss attributable to shareholders of Novartis AG | $		$ 6,282	$ 906

Changes in consolidated state_3

Changes in consolidated statements of comprehensive income (Details) - USD ($) $ in Millions		12 Months Ended
	Oct. 03, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes in consolidated statements of comprehensive income [line items]
Fair value adjustments on deferred cash flow hedges, net of taxes		$ (24)
Net investment hedge, net of taxes		91	$ (50)	$ 91
Net actuarial gains/losses from defined benefit plans, net of taxes		2,024	(160)	(103)
Currency translation effects, net of taxes		(1,566)	1,375	(450)
Cumulative currency translation gains/losses recycled through income statement	$ 357
Continuing operations
Changes in consolidated statements of comprehensive income [line items]
Income tax relating to components of other comprehensive income		(352)	(21)
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		(158)	(198)	188
Fair value adjustments on equity securities, net of taxes		64	37	(382)
Total value adjustments		64	37	(382)
Fair value adjustments related to divestments			2
Value adjustments regognized through equity		(81)	3	(4)
Value adjustments on comprehensive income at end of period		(175)	(158)	(198)
Income tax relating to components of other comprehensive income		(8)	(6)	81
Fair value adjustments on equity securities sold
Changes in consolidated statements of comprehensive income [line items]
Fair value adjustments on equity securities sold, reclassified to retained earnings		(81)	1	(4)
Income tax relating to components of other comprehensive income		8	(7)	0
Value adjustments related to divestments
Changes in consolidated statements of comprehensive income [line items]
Income tax relating to components of other comprehensive income			(4)	(4)
Net investment hedge
Changes in consolidated statements of comprehensive income [line items]
Income tax relating to components of other comprehensive income		(30)	19	(30)
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		(4,171)	(4,038)	(3,968)
Net actuarial gains/losses from defined benefit plans, net of taxes		2,024	(160)	(104)
Total value adjustments		2,024	(160)	(104)
Fair value adjustments related to divestments			27	34
Value adjustments regognized through equity			27	34
Value adjustments on comprehensive income at end of period		(2,147)	(4,171)	(4,038)
Income tax relating to components of other comprehensive income		(343)	16	(104)
Hedging reserves
Changes in consolidated statements of comprehensive income [line items]
Fair value adjustments on deferred cash flow hedges, net of taxes		(24)
Total value adjustments		(24)
Value adjustments on comprehensive income at end of period		(24)
Income tax relating to components of other comprehensive income		3
Cumulative currency translation effects
Changes in consolidated statements of comprehensive income [line items]
Value adjustments on comprehensive income at beginning of period		563	(760)	(407)
Net investment hedge, net of taxes		91	(50)	91
Currency translation effects, net of taxes		(1,563)	1,373	(444)
Total value adjustments		(1,472)	1,323	(353)
Value adjustments on comprehensive income at end of period		(909)	563	(760)
Income tax relating to components of other comprehensive income		6	(6)	18
Cumulative currency translation gains/losses recycled through income statement		(5)	358	13
Cumulative currency translation effects | Continuing operations
Changes in consolidated statements of comprehensive income [line items]
Cumulative currency translation gains/losses recycled through income statement			1
Cumulative currency translation effects | Discontinued operations
Changes in consolidated statements of comprehensive income [line items]
Cumulative currency translation gains/losses recycled through income statement			357
Total value adjustments
Changes in consolidated statements of comprehensive income [line items]
Value adjustments on comprehensive income at beginning of period		(3,766)	(4,996)	(4,187)
Fair value adjustments on deferred cash flow hedges, net of taxes		(24)
Fair value adjustments on equity securities, net of taxes		64	37	(382)
Net investment hedge, net of taxes		91	(50)	91
Net actuarial gains/losses from defined benefit plans, net of taxes		2,024	(160)	(104)
Currency translation effects, net of taxes		(1,563)	1,373	(444)
Total value adjustments		592	1,200	(839)
Fair value adjustments on equity securities sold, reclassified to retained earnings		(81)	1	(4)
Fair value adjustments related to divestments			29	34
Value adjustments regognized through equity		(81)	30	30
Value adjustments on comprehensive income at end of period		(3,255)	(3,766)	(4,996)
Non-controlling interests [member]
Changes in consolidated statements of comprehensive income [line items]
Value adjustments on comprehensive income at beginning of period		(36)	(38)	(33)
Net actuarial gains/losses from defined benefit plans, net of taxes				1
Currency translation effects, net of taxes		(3)	2	(6)
Total value adjustments		(3)	2	(5)
Value adjustments on comprehensive income at end of period		(39)	(36)	(38)
Total fair value adjustments [member]
Changes in consolidated statements of comprehensive income [line items]
Value adjustments on comprehensive income at beginning of period		(3,802)	(5,034)	(4,220)
Fair value adjustments on deferred cash flow hedges, net of taxes		(24)
Fair value adjustments on equity securities, net of taxes		64	37	(382)
Net investment hedge, net of taxes		91	(50)	91
Net actuarial gains/losses from defined benefit plans, net of taxes		2,024	(160)	(103)
Currency translation effects, net of taxes		(1,566)	1,375	(450)
Total value adjustments		589	1,202	(844)
Fair value adjustments on equity securities sold, reclassified to retained earnings		(81)	1	(4)
Fair value adjustments related to divestments			29	34
Value adjustments regognized through equity		(81)	30	30
Value adjustments on comprehensive income at end of period		(3,294)	$ (3,802)	$ (5,034)
Interest expense on hedge item recycled through the income statement		$ 1

Changes in consolidated state_4

Changes in consolidated statements of comprehensive income (Details 1) $ in Millions	Oct. 03, 2023 USD ($)
Comprehensive income [abstract]
Cumulative currency translation gains/losses recycled through income statement	$ 357

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	$ 9,514	$ 10,764
Property, plant and equipment at end of period	9,458	9,514	$ 10,764
Commitments for purchases of property, plant and equipment	770	744
Capitalized borrowing costs	5	3	2
Continuing operations
Movements of property, plant and equipment [roll forward]
Impact of business combinations	20	18
Additions	1,384	1,065
Disposals and derecognitions	(116)	(360)
Depreciation charge	(885)	(916)	(967)
Impairment charge	(48)	(106)	(411)
Impairment reversal	1	16	4
Currency translation effects	(412)	377
Discontinued operations
Movements of property, plant and equipment [roll forward]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(1,344)
Additions		245
Gross carrying amount
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	21,393	24,873
Property, plant and equipment at end of period	20,558	21,393	24,873
Accumulated depreciation, amortisation and impairment
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	(11,879)	(14,109)
Property, plant and equipment at end of period	(11,100)	(11,879)	(14,109)
Land
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	398	442
Property, plant and equipment at end of period	371	398	442
Land | Continuing operations
Movements of property, plant and equipment [roll forward]
Reclassifications	1
Additions	0	1
Disposals and derecognitions	(4)	(16)
Impairment charge	(5)	(3)
Impairment reversal		3
Currency translation effects	(19)	25
Land | Discontinued operations
Movements of property, plant and equipment [roll forward]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(54)
Land | Gross carrying amount
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	403	451
Property, plant and equipment at end of period	376	403	451
Land | Accumulated depreciation, amortisation and impairment
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	(5)	(9)
Property, plant and equipment at end of period	(5)	(5)	(9)
Buildings
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	4,896	5,493
Property, plant and equipment at end of period	4,542	4,896	5,493
Buildings | Continuing operations
Movements of property, plant and equipment [roll forward]
Impact of business combinations	6	12
Reclassifications	136	197
Additions	73	85
Disposals and derecognitions	(35)	(261)
Depreciation charge	(327)	(343)
Impairment charge	(13)	(36)
Impairment reversal		9
Currency translation effects	(194)	162
Buildings | Discontinued operations
Movements of property, plant and equipment [roll forward]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(422)
Buildings | Gross carrying amount
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	10,147	11,396
Property, plant and equipment at end of period	9,526	10,147	11,396
Buildings | Accumulated depreciation, amortisation and impairment
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	(5,251)	(5,903)
Property, plant and equipment at end of period	(4,984)	(5,251)	(5,903)
Construction in progress
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	1,206	1,157
Property, plant and equipment at end of period	1,603	1,206	1,157
Construction in progress | Continuing operations
Movements of property, plant and equipment [roll forward]
Impact of business combinations		1
Reclassifications	(569)	(420)
Additions	1,082	734
Disposals and derecognitions	(19)	(20)
Impairment charge	(3)	(10)
Currency translation effects	(94)	44
Construction in progress | Discontinued operations
Movements of property, plant and equipment [roll forward]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(280)
Construction in progress | Gross carrying amount
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	1,213	1,184
Property, plant and equipment at end of period	1,610	1,213	1,184
Construction in progress | Accumulated depreciation, amortisation and impairment
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	(7)	(27)
Property, plant and equipment at end of period	(7)	(7)	(27)
Machinery and other equipment
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	3,014	3,672
Property, plant and equipment at end of period	2,942	3,014	3,672
Machinery and other equipment | Continuing operations
Movements of property, plant and equipment [roll forward]
Impact of business combinations	14	5
Reclassifications	432	223
Additions	229	245
Disposals and derecognitions	(58)	(63)
Depreciation charge	(558)	(573)
Impairment charge	(27)	(57)
Impairment reversal	1	4
Currency translation effects	(105)	146
Machinery and other equipment | Discontinued operations
Movements of property, plant and equipment [roll forward]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(588)
Machinery and other equipment | Gross carrying amount
Movements of property, plant and equipment [roll forward]
Property, plant and equipment at beginning of period	9,630	11,842
Property, plant and equipment at end of period	9,046	9,630	11,842
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	(6,616)	(8,170)
Property, plant and equipment at end of period	$ (6,104)	$ (6,616)	$ (8,170)

Property, plant and equipment_3

Property, plant and equipment (Details 1) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about property, plant and equipment [line items]
Commitments for purchases of property, plant and equipment	$ 770	$ 744
Not later than one year [member]
Disclosure of detailed information about property, plant and equipment [line items]
Commitments for purchases of property, plant and equipment	624
Later than one year and not later than two years [member]
Disclosure of detailed information about property, plant and equipment [line items]
Commitments for purchases of property, plant and equipment	115
Later than two years and not later than three years [member]
Disclosure of detailed information about property, plant and equipment [line items]
Commitments for purchases of property, plant and equipment	29
Later than three years and not later than four years [member]
Disclosure of detailed information about property, plant and equipment [line items]
Commitments for purchases of property, plant and equipment	2
Later than four years [member]
Disclosure of detailed information about property, plant and equipment [line items]
Commitments for purchases of property, plant and equipment	$ 0

Property, plant and equipment_4

Property, plant and equipment (Details 2) - Continuing operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation charge	$ (885)	$ (916)	$ (967)
Impairment charge	(48)	(106)	(411)
Impairment reversal	$ 1	$ 16	$ 4

Lease liability and Right-of-us

Lease liability and Right-of-use assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movements of the right-of-use assets [roll forward]
Right-of-use assets at beginning of period	$ 1,410	$ 1,431
Right-of-use assets at end of period	1,415	1,410	$ 1,431
Continuing operations
Movements of the right-of-use assets [roll forward]
Impact of business combinations	42	16
Additions to right-of-use assets	304	421
Depreciation charge	(257)	(259)	$ (267)
Impairment loss recognised in profit or loss, right of use assets	1	(4)
Lease contract terminations, right-of-use assets	(36)	(93)
Increase (decrease) through net exchange differences, right-of-use assets	$ (49)	15
Discontinued operations
Movements of the right-of-use assets [roll forward]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(117)
Additions to right-of-use assets		$ 66

Lease liability and Right-of-_2

Lease liability and Right-of-use assets (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 03, 2023
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	$ 1,415	$ 1,410	$ 1,431
Continuing operations
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation charge	(257)	(259)	(267)
Discontinued operations
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets				$ 133
Land [member] | Continuing operations
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	472	483
Depreciation charge	(11)	(12)	(16)
Buildings [member] | Continuing operations
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	752	749
Depreciation charge	(153)	(156)	(162)
Vehicles [member] | Continuing operations
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	133	112
Depreciation charge	(80)	(80)	(82)
Machinery & equipment and other assets | Continuing operations
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	58	66
Depreciation charge	$ (13)	$ (11)	$ (7)

Lease liability and Right-of-_3

Lease liability and Right-of-use assets (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of maturity analysis of total lease liabilities [line items]
Lease liabilities	$ 1,803	$ 1,828
Lease liabilities undiscounted	3,199	3,242
Interest for discounting lease liabilities	(1,396)	(1,414)
Less current lease liabilities	(235)	(230)
Less current lease liabilities undiscounted	(291)	(284)
Less current lease liabilities interests for discounting	(56)	(54)
Non-current lease liabilities	1,568	1,598
Non-current lease liabilities undiscounted	2,908	2,958
Commitments for leases not yet commenced	123	89
Most material lease with lease term extension	$ 700	$ 700
Lease term end date	2071	2071
Information about lessee's exposure arising from extension options and termination options	At December 31, 2024, and December 31, 2023, there were no material future cash outflows, including extension options, excluded from the measurement of lease liabilities. The Company’s most material lease with a lease term extension, representing a lease liability value of USD 0.7 billion (2023: USD 0.7 billion), has a determined lease term end date of 2071 (2023: 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 either 2024 or 2023. Should the landlord agree to a lease extension, rent will be referenced to the market rates as at the commencement of the extension period.
Not later than one year [member]
Disclosure of maturity analysis of total lease liabilities [line items]
Lease liabilities	$ 235	$ 230
Lease liabilities undiscounted	291	284
Interest for discounting lease liabilities	(56)	(54)
Commitments for leases not yet commenced	57
Later than one year and not later than two years [member]
Disclosure of maturity analysis of total lease liabilities [line items]
Lease liabilities	203	203
Lease liabilities undiscounted	252	248
Interest for discounting lease liabilities	(49)	(45)
Commitments for leases not yet commenced	15
Later than two years and not later than three years [member]
Disclosure of maturity analysis of total lease liabilities [line items]
Lease liabilities	168	170
Lease liabilities undiscounted	209	211
Interest for discounting lease liabilities	(41)	(41)
Commitments for leases not yet commenced	4
Later than three years and not later than four years [member]
Disclosure of maturity analysis of total lease liabilities [line items]
Lease liabilities	117	149
Lease liabilities undiscounted	153	184
Interest for discounting lease liabilities	(36)	(35)
Commitments for leases not yet commenced	4
Later than four years and not later than five years [member]
Disclosure of maturity analysis of total lease liabilities [line items]
Lease liabilities	86	113
Lease liabilities undiscounted	116	142
Interest for discounting lease liabilities	(30)	(29)
Commitments for leases not yet commenced	4
Later than five years [member]
Disclosure of maturity analysis of total lease liabilities [line items]
Lease liabilities	994	963
Lease liabilities undiscounted	2,178	2,173
Interest for discounting lease liabilities	(1,184)	$ (1,210)
Commitments for leases not yet commenced	$ 39

Lease liability and Right-of-_4

Lease liability and Right-of-use assets (Details 3) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Disclosure of quantitative information about right-of-use assets [line items]
Lease liabilities	$ 1,803	$ 1,828
Right-of-use assets	$ 1,415	$ 1,410	$ 1,431
Number of sale and lease-back transactions completed	2	2	3
Sale and lease back [member]
Disclosure of quantitative information about right-of-use assets [line items]
Cash inflow for sale and leaseback	$ 9	$ 273	$ 49
Lease liabilities	14	146	23
Right-of-use assets	2	109	13
Gains or losses from sales leaseback	$ (10)	$ 18	$ 17

Lease liability and Right-of-_5

Lease liability and Right-of-use assets (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of quantitative information about right-of-use assets [line items]
Interest expense on lease liabilities	$ 72	$ 62	$ 57
Expense relating to short-term leases for which recognition exemption has been used	7	5	3
Expense relating to leases of low-value assets for which recognition exemption has been used	5	6	6
Cash outflow	336	321	319
Cash outflows for short term and low value leases	12	11	9
Cash outflows for payments of leases interest	62	52	48
Repayment of lease liability	$ 262	$ 258	$ 262
Weighted average interest rate lease liabilities	4%	3.50%	3.30%
Not later than one year
Disclosure of quantitative information about right-of-use assets [line items]
Interest expense on lease liabilities	$ 56
Later than one year
Disclosure of quantitative information about right-of-use assets [line items]
Interest expense on lease liabilities	$ 1,300

Goodwill and intangible asset_2

Goodwill and intangible assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Continuing operations
Disclosure of detailed information about intangible assets [line items]
Impairment charge	$ (1,433)	$ (3,048)	$ (1,301)
Reversal of impairment charge	9
Discontinued operations
Disclosure of detailed information about intangible assets [line items]
Additions		221
Goodwill
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	23,341	29,301
Intangible assets and goodwill at end of period	24,756	23,341	29,301
Goodwill | Continuing operations
Disclosure of detailed information about intangible assets [line items]
Impact of business combinations	2,701	1,094
Impairment charge	(910)
Currency translation effects	(376)	391
Goodwill | Discontinued operations
Disclosure of detailed information about intangible assets [line items]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(7,445)
Intangible Assets other than Goodwill
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	26,879	31,644
Intangible assets and goodwill at end of period	26,915	26,879	31,644
Intangible Assets other than Goodwill | Continuing operations
Disclosure of detailed information about intangible assets [line items]
Impact of business combinations	2,580	2,946
Additions	2,143	1,576
Disposals and derecognitions	(95)	(1,845)
Amortization charge	(3,457)	(3,960)	(3,760)
Impairment charge	(523)	(3,048)
Reversal of impairment charge	9
Currency translation effects	(621)	1,026
Intangible Assets other than Goodwill | Discontinued operations
Disclosure of detailed information about intangible assets [line items]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(1,460)
Acquired research and development [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	5,329	4,421
Intangible assets and goodwill at end of period	7,222	5,329	4,421
Acquired research and development [member] | Continuing operations
Disclosure of detailed information about intangible assets [line items]
Impact of business combinations	1,424	2,931
Reclassifications		(235)
Additions	1,116	770
Impairment charge	(471)	(2,544)
Currency translation effects	(176)	221
Acquired research and development [member] | Discontinued operations
Disclosure of detailed information about intangible assets [line items]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(235)
Currently marketed products
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	20,017	25,513
Intangible assets and goodwill at end of period	16,912	20,017	25,513
Currently marketed products | Continuing operations
Disclosure of detailed information about intangible assets [line items]
Reclassifications		23
Additions	263	290
Disposals and derecognitions	(91)	(1,842)
Amortization charge	(2,964)	(3,319)
Impairment charge		(310)
Reversal of impairment charge	9
Currency translation effects	(322)	688
Capitalized development costs	100	100
Currently marketed products | Discontinued operations
Disclosure of detailed information about intangible assets [line items]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(1,026)
Other intangible assets
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	1,533	1,710
Intangible assets and goodwill at end of period	2,781	1,533	1,710
Other intangible assets | Continuing operations
Disclosure of detailed information about intangible assets [line items]
Impact of business combinations	1,156	15
Reclassifications		212
Additions	764	516
Disposals and derecognitions	(4)	(3)
Amortization charge	(493)	(641)
Impairment charge	(52)	(194)
Currency translation effects	(123)	117
Other intangible assets | Discontinued operations
Disclosure of detailed information about intangible assets [line items]
Costs and accumulated depreciation/impairments on assets related to discontinued operations		(199)
Gross carrying amount | Goodwill
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	23,391	29,596
Intangible assets and goodwill at end of period	25,665	23,391	29,596
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	58,319	69,684
Intangible assets and goodwill at end of period	60,206	58,319	69,684
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	7,822	7,092
Intangible assets and goodwill at end of period	9,621	7,822	7,092
Gross carrying amount | Currently marketed products
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	46,909	58,249
Intangible assets and goodwill at end of period	45,462	46,909	58,249
Gross carrying amount | Other intangible assets
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	3,588	4,343
Intangible assets and goodwill at end of period	5,123	3,588	4,343
Accumulated depreciation, amortisation and impairment | Goodwill
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill at beginning of period	(50)	(295)
Intangible assets and goodwill at end of period	(909)	(50)	(295)
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	(31,440)	(38,040)
Intangible assets and goodwill at end of period	(33,291)	(31,440)	(38,040)
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	(2,493)	(2,671)
Intangible assets and goodwill at end of period	(2,399)	(2,493)	(2,671)
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	(26,892)	(32,736)
Impairment charge		(300)
Intangible assets and goodwill at end of period	(28,550)	(26,892)	(32,736)
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	(2,055)	(2,633)
Intangible assets and goodwill at end of period	$ (2,342)	$ (2,055)	$ (2,633)

Goodwill and intangible asset_3

Goodwill and intangible assets (Details 2) - Operating segments [member]	Dec. 31, 2024
Disclosure of detailed information about intangible assets [line items]
Terminal Growth Rate	1.30%
Discount Rate (post-tax)	7%

Goodwill and intangible asset_4

Goodwill and intangible assets (Details 3) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leqvio [member]
Disclosure of detailed information about intangible assets [line items]
Carrying value	$ 6.3	$ 6.8
Remaining amortisation period	11 years	12 years
Zolgensma [member]
Disclosure of detailed information about intangible assets [line items]
Carrying value	$ 4.5	$ 5.2
Remaining amortisation period	6 years	7 years

Goodwill and intangible asset_5

Goodwill and intangible assets (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Continuing operations
Disclosure of detailed information about intangible assets [line items]
Impairment charge	$ (1,433)	$ (3,048)	$ (1,301)
Reversal of impairment charge	9
Continuing operations | Goodwill
Disclosure of detailed information about intangible assets [line items]
Impairment charge	(910)
Continuing operations | Intangible Assets other than Goodwill
Disclosure of detailed information about intangible assets [line items]
Amortization charge	(3,457)	(3,960)	(3,760)
Impairment charge	(523)	(3,048)
Reversal of impairment charge	9
Continuing operations | Acquired research and development [member]
Disclosure of detailed information about intangible assets [line items]
Impairment charge	(471)	(2,544)
Continuing operations | Currently marketed products
Disclosure of detailed information about intangible assets [line items]
Amortization charge	(2,964)	(3,319)
Impairment charge		(310)
Reversal of impairment charge	9
Continuing operations | Other intangible assets
Disclosure of detailed information about intangible assets [line items]
Amortization charge	(493)	(641)
Impairment charge	$ (52)	(194)
Accumulated depreciation, amortisation and impairment | Acquired research and development [member] | PPY988 [member]
Disclosure of detailed information about intangible assets [line items]
Impairment charge		(1,000)
Accumulated depreciation, amortisation and impairment | Acquired research and development [member] | VDT482 [member]
Disclosure of detailed information about intangible assets [line items]
Impairment charge		(400)
Accumulated depreciation, amortisation and impairment | Acquired research and development [member] | NIZ985 [member]
Disclosure of detailed information about intangible assets [line items]
Impairment charge		(300)
Accumulated depreciation, amortisation and impairment | Acquired research and development [member] | UNR844 [member]
Disclosure of detailed information about intangible assets [line items]
Impairment charge			$ (600)
Accumulated depreciation, amortisation and impairment | Acquired research and development [member] | MBG453 [member]
Disclosure of detailed information about intangible assets [line items]
Impairment charge		(300)
Accumulated depreciation, amortisation and impairment | Currently marketed products
Disclosure of detailed information about intangible assets [line items]
Impairment charge		$ (300)

Deferred tax assets and liabi_3

Deferred tax assets and liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 03, 2023
Statement [line items]
Gross deferred tax assets	$ 8,876	$ 8,188	$ 8,051
Deferred tax assets	4,359	4,309
Gross deferred tax liabilities	(6,936)	(6,127)	(6,998)
Deferred tax liabilities	(2,419)	(2,248)
Net deferred tax balance	1,940	2,061	1,053
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period	2,061	1,053
Net deferred tax balance at end of period	1,940	2,061	1,053
Offsetting of deferred tax assets and liabilities within the same tax jurisdiction	4,517	3,879
Deferred tax assets	4,359	4,309
Deferred tax liabilities	(2,419)	(2,248)
Property, plant and equipment [member]
Statement [line items]
Gross deferred tax assets	130	117	158
Gross deferred tax liabilities	(334)	(310)	(343)
Net deferred tax balance	(204)	(193)	(185)
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period	(193)	(185)
Net deferred tax balance at end of period	(204)	(193)	(185)
Intangible assets [member]
Statement [line items]
Gross deferred tax assets	2,591	2,188	1,726
Gross deferred tax liabilities	(4,506)	(4,228)	(4,785)
Net deferred tax balance	(1,915)	(2,040)	(3,059)
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period	(2,040)	(3,059)
Net deferred tax balance at end of period	(1,915)	(2,040)	(3,059)
Pensions and other benefit obligations of associates [member]
Statement [line items]
Gross deferred tax assets	688	764	739
Gross deferred tax liabilities	(680)	(420)	(420)
Net deferred tax balance	8	344	319
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period	344	319
Net deferred tax balance at end of period	8	344	319
Inventories [member]
Statement [line items]
Gross deferred tax assets	2,464	2,200	2,214
Gross deferred tax liabilities	(71)	(77)	(138)
Net deferred tax balance	2,393	2,123	2,076
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period	2,123	2,076
Net deferred tax balance at end of period	2,393	2,123	2,076
Tax loss carryforwards [member]
Statement [line items]
Gross deferred tax assets	659	713	425
Net deferred tax balance	659	713	425
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period	713	425
Net deferred tax balance at end of period	659	713	425
Other assets, provisions and accruals [member]
Statement [line items]
Gross deferred tax assets	2,344	2,206	2,789
Gross deferred tax liabilities	(1,345)	(1,092)	(1,312)
Net deferred tax balance	999	1,114	1,477
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period	1,114	1,477
Net deferred tax balance at end of period	999	1,114	1,477
Continuing operations [member]
Movement in deferred tax balance [roll forward]
Credited/(charged) to income	682	1,875
Charged to equity	(85)
Credited/(charged) to other comprehensive income	(352)	(21)
Impact of business combinations	(334)	(440)
Other movements	(32)	7
Continuing operations [member] | Property, plant and equipment [member]
Movement in deferred tax balance [roll forward]
Credited/(charged) to income	(23)	(13)
Credited/(charged) to other comprehensive income		(3)
Impact of business combinations	(2)	(2)
Other movements	14	(50)
Continuing operations [member] | Intangible assets [member]
Movement in deferred tax balance [roll forward]
Credited/(charged) to income	615	1,344
Impact of business combinations	(479)	(530)
Other movements	(11)	85
Continuing operations [member] | Pensions and other benefit obligations of associates [member]
Movement in deferred tax balance [roll forward]
Credited/(charged) to income	9	32
Credited/(charged) to other comprehensive income	(343)	16
Other movements	(2)	13
Continuing operations [member] | Inventories [member]
Movement in deferred tax balance [roll forward]
Credited/(charged) to income	272	386
Other movements	(2)	(28)
Continuing operations [member] | Tax loss carryforwards [member]
Movement in deferred tax balance [roll forward]
Credited/(charged) to income	(189)	173
Charged to equity	(105)
Impact of business combinations	263	111
Other movements	(23)	17
Continuing operations [member] | Other assets, provisions and accruals [member]
Movement in deferred tax balance [roll forward]
Credited/(charged) to income	(2)	(47)
Charged to equity	20
Credited/(charged) to other comprehensive income	(9)	(34)
Impact of business combinations	(116)	(19)
Other movements	$ (8)	(30)
Discontinued operations [member]
Statement [line items]
Deferred tax assets				$ 624
Deferred tax liabilities				(270)
Net deferred tax balance			(413)
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period		(413)
Net deferred tax balance at end of period			(413)
Deferred tax assets				624
Deferred tax liabilities				$ (270)
Discontinued operations [member] | Property, plant and equipment [member]
Statement [line items]
Net deferred tax balance			60
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period		60
Net deferred tax balance at end of period			60
Discontinued operations [member] | Intangible assets [member]
Statement [line items]
Net deferred tax balance			120
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period		120
Net deferred tax balance at end of period			120
Discontinued operations [member] | Pensions and other benefit obligations of associates [member]
Statement [line items]
Net deferred tax balance			(36)
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period		(36)
Net deferred tax balance at end of period			(36)
Discontinued operations [member] | Inventories [member]
Statement [line items]
Net deferred tax balance			(311)
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period		(311)
Net deferred tax balance at end of period			(311)
Discontinued operations [member] | Tax loss carryforwards [member]
Statement [line items]
Net deferred tax balance			(13)
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period		(13)
Net deferred tax balance at end of period			(13)
Discontinued operations [member] | Other assets, provisions and accruals [member]
Statement [line items]
Net deferred tax balance			(233)
Movement in deferred tax balance [roll forward]
Net deferred tax balance at beginning of period		$ (233)
Net deferred tax balance at end of period			$ (233)

Deferred tax assets and liabi_4

Deferred tax assets and liabilities (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	$ 12,735	$ 11,791
Tax loss carryforwards expired	24	8	$ 6
One year [member]
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	22	67
Two years [member]
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	147	27
Three years [member]
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	50	146
Four years [member]
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	2,736	591
Five years [member]
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	1,233	2,149
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	6,661	5,866
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	1,886	2,945
Capitalized [member]
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	5,211	6,520
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	3	44
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	88	15
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	26	79
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	399	569
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	1,136	580
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	2,456	2,975
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	1,103	2,258
Not capitalized [member]
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	7,524	5,271
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	19	23
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	59	12
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	24	67
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	2,337	22
Not capitalized [member] | Four years [member] | US
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets	2,300
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	97	1,569
Not capitalized [member] | Five years [member] | US
Statement [line items]
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets		1,500
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	4,205	2,891
Not capitalized [member] | More than five years [member] | US
Statement [line items]
Tax loss carry forwards	4,000	2,800
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	$ 783	$ 687

Deferred tax assets and liabi_5

Deferred tax assets and liabilities (Details 2) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement [line items]
Unremitted earnings retained by consolidated entities for reinvestment	$ 39	$ 34

Financial and other non-curre_3

Financial and other non-current assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of financial assets [abstract]
Non-current financial assets, equity securities	$ 746	$ 1,403
Non-current financial asstets debt securities	53	29
Non-current financial assets, fund investments	210	190
Non-current financial assets, total financial investments	1,009	1,622
Long term receivables from finance subleases	54	104
Other long-term receivables	179	214
Contingent consideration receivables	671	553
Long-term loans, advances and security deposits	102	114
Total financial assets	$ 2,015	$ 2,607

Financial and other non-curre_4

Financial and other non-current assets (Details 1) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of other non-current assets [abstract]
Deferred compensation plans assets	$ 479	$ 439
Prepaid post-employment benefit plans assets	2,604	545
Other non-current assets	422	215
Total other non-current assets	$ 3,505	$ 1,199

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Inventory
Inventory	$ 5,723	$ 5,913
Amount of inventory recognized as expense	(6,300)	(5,800)	$ (5,200)
Inventory provisions	(526)	(467)	(373)
Reversals of inventory provisions	156	111	$ 121
Raw material, consumables
Inventory
Inventory	843	963
Work in progress
Inventory
Inventory	3,448	3,502
Finished products
Inventory
Inventory	$ 1,432	$ 1,448

Trade receivables (Details)

Trade receivables (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of provision matrix [line items]
Total trade receivables, net	$ 7,423	$ 7,107
Trade receivables [member]
Disclosure of provision matrix [line items]
Total trade receivables, net	7,423	7,107
Trade receivables [member] | Gross carrying amount [member]
Disclosure of provision matrix [line items]
Total trade receivables, net	7,481	7,158
Trade receivables [member] | Provision for doubtful receivable [member]
Disclosure of provision matrix [line items]
Provision for doubtful receivable	$ (58)	$ (51)

Trade receivables (Details 1)

Trade receivables (Details 1) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Analysis of overdue amounts [line items]
Total trade receivables, net	$ 7,423	$ 7,107
Trade receivables [member]
Analysis of overdue amounts [line items]
Total trade receivables, net	7,423	7,107
Trade receivables [member] | Current [member]
Analysis of overdue amounts [line items]
Total trade receivables, net	7,138	6,791
Trade receivables [member] | Not later than one month [member]
Analysis of overdue amounts [line items]
Total trade receivables, net	134	146
Trade receivables [member] | Later than one month and not later than three months [member]
Analysis of overdue amounts [line items]
Total trade receivables, net	95	66
Trade receivables [member] | Later than three months and not later than six months [member]
Analysis of overdue amounts [line items]
Total trade receivables, net	37	64
Trade receivables [member] | Later than six months and not later than one year [member]
Analysis of overdue amounts [line items]
Total trade receivables, net	24	38
Trade receivables [member] | Later than one year [member]
Analysis of overdue amounts [line items]
Total trade receivables, net	53	53
Trade receivables [member] | Provision for doubtful receivable [member]
Analysis of overdue amounts [line items]
Provision for doubtful receivable	$ (58)	$ (51)

Trade receivables (Details 2)

Trade receivables (Details 2) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of provision matrix [line items]
Total trade receivables, net	$ 7,423	$ 7,107
Trade receivables [member]
Disclosure of provision matrix [line items]
Total trade receivables, net	7,423	7,107
Trade receivables [member] | USD
Disclosure of provision matrix [line items]
Total trade receivables, net	3,698	3,520
Trade receivables [member] | EUR
Disclosure of provision matrix [line items]
Total trade receivables, net	1,144	1,138
Trade receivables [member] | JPY
Disclosure of provision matrix [line items]
Total trade receivables, net	470	288
Trade receivables [member] | RUB
Disclosure of provision matrix [line items]
Total trade receivables, net	212	240
Trade receivables [member] | GBP
Disclosure of provision matrix [line items]
Total trade receivables, net	191	146
Trade receivables [member] | CNY
Disclosure of provision matrix [line items]
Total trade receivables, net	172	231
Trade receivables [member] | BRL
Disclosure of provision matrix [line items]
Total trade receivables, net	130	130
Trade receivables [member] | AUD
Disclosure of provision matrix [line items]
Total trade receivables, net	96	96
Trade receivables [member] | CHF
Disclosure of provision matrix [line items]
Total trade receivables, net	54	84
Trade receivables [member] | CAD
Disclosure of provision matrix [line items]
Total trade receivables, net	50	75
Trade receivables [member] | Others
Disclosure of provision matrix [line items]
Total trade receivables, net	$ 1,206	$ 1,159

Marketable securities, commod_3

Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of marketable securities commodities deposits derivative instruments and cash [abstract]
Commodities		$ 111
Time deposits and short-term investments with original maturity more than 90 days	$ 1,892	569
Derivative financial instruments	106	355
Total marketable securities, commodities, time deposits and derivative financial instruments	$ 1,998	$ 1,035

Marketable securities, commod_4

Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Details 1) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents [abstract]
Current accounts	$ 2,585	$ 3,207
Time deposits and short term investments with original maturity less than 90 days	8,874	10,186
Total cash and cash equivalents	$ 11,459	$ 13,393	$ 7,517	$ 12,407

Other current assets (Details)

Other current assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Other current assets [abstract]
VAT Receivable	$ 478	$ 462
Withholding tax recoverable	57	64
Prepaid expenses - third party	985	764
Contingent consideration receivable	120	65
Other receivables and current assets	1,328	1,252
Total other current assets	$ 2,968	$ 2,607

Equity (Details)

Equity (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 SFr / shares	Dec. 31, 2023 SFr / shares	Dec. 31, 2022 SFr / shares
Disclosure of classes of share capital [line items]
Share capital at beginning of period	$ 825	$ 890	$ 901
Treasury shares at beginning of period	(41)	(92)	(48)
Total outstanding share capital at beginning of period	784	798	853
Share capital movement of period	(32)	(65)	(11)
Treasury shares movement of period	(12)	51	(44)
Total shares outstanding movement of period	(44)	(14)	(55)
Share capital at end of period	793	825	890
Treasury shares at end of period	(53)	(41)	(92)
Total outstanding share capital at end of period	$ 740	$ 784	$ 798
Par value per share | SFr / shares				SFr 0.49	SFr 0.49	SFr 0.50

Equity (Details 1)

Equity (Details 1) - CHF (SFr) shares in Millions, SFr in Billions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of classes of share capital [line items]
Number of shares outstanding at beginning of period	2,044	2,119.6	2,234.9
Treasury shares acquired to be cancelled	(77.5)	(87.5)	(126.2)
Other share purchases	(1.2)	(1.6)	(1.4)
Exercise of options and employee transactions shares		2.8	1.9
Equity based compensation shares	9.7	10.4	10.4
Shares delivered to divested business employees Alcon			0
Shares delivered to divested business employees Sandoz	0.1	0.3
Total movements	(68.9)	(75.6)	(115.3)
Number of shares outstanding at end of period	1,975.1	2,044	2,119.6
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	2,277.5	2,403.7	2,434.4
Shares cancelled for capital reduction	(87.5)	(126.2)	(30.7)
Total movements	(87.5)	(126.2)	(30.7)
Number of shares issued at end of period	2,190	2,277.5	2,403.7
Total treasury shares
Disclosure of classes of share capital [line items]
Number of treasury shares at beginning of period	(233.5)	(284.1)	(199.5)
Shares cancelled for capital reduction	87.5	126.2	30.7
Treasury shares acquired to be cancelled	(77.5)	(87.5)	(126.2)
Other share purchases	(1.2)	(1.6)	(1.4)
Exercise of options and employee transactions shares		2.8	1.9
Equity based compensation shares	9.7	10.4	10.4
Shares delivered to divested business employees Alcon			0
Shares delivered to divested business employees Sandoz	0.1	0.3
Total movements	18.6	50.6	(84.6)
Number of treasury shares at end of period	(214.9)	(233.5)	(284.1)
Treasury shares with restricted use	86	93.8	99

Equity (Details 2)

Equity (Details 2) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 SFr / shares	Dec. 31, 2023 SFr / shares	Dec. 31, 2022 SFr / shares
Statement of changes in equity [abstract]
Dividends payable, amount per share | SFr / shares				SFr 3.30	SFr 3.20	SFr 3.10
Dividends recognised as distributions to owners | $	$ 7,624	$ 7,255	$ 7,506

Equity (Details 3)

Equity (Details 3) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of changes in equity [abstract]
Treasury shares acquired to be cancelled	(77.5)	(87.5)	(126.2)
Shares acquired for cancellation, equity impact	$ (8,316)	$ (8,369)	$ (10,787)
Other share purchases	(1.2)	(1.6)	(1.4)
Other share purchases, equity impact	$ (134)	$ (148)	$ (123)
Purchase of treasury shares	(78.7)	(89.1)	(127.6)
Purchase of treasury shares, equity impact	$ (8,450)	$ (8,517)	$ (10,910)
Exercise of options and employee transactions shares		2.8	1.9
Exercise of options and employee transactions, equity impact		$ 146	$ 88
Equity based compensation shares	9.7	10.4	10.4
Equity-based compensation, equity impact	$ 1,060	$ 904	$ 854
Shares delivered to divested business employees Alcon			0
Shares delivered to divested business employees, equity impact Alcon			$ 5
Shares delivered to divested business employees Sandoz	0.1	0.3
Shares delivered to divested business employees, equity impact Sandoz	$ 12	$ 30
Total number of outstanding treasury shares	(68.9)	(75.6)	(115.3)
Total equity impact of treasury share movements	$ (7,378)	$ (7,437)	$ (9,963)

Equity (Details 4)

Equity (Details 4) SFr / shares in Units, $ / shares in Units, shares in Millions, SFr in Millions, Pure in Millions, $ in Millions			12 Months Ended
	Sep. 15, 2023 USD ($)	Sep. 15, 2023 CHF (SFr)	Dec. 31, 2024 shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2023 SFr / shares	Dec. 31, 2022 year $ / shares
Disclosure of classes of share capital [line items]
Tax on transaction costs recorded in equity | $				$ 29
Maximal amount of share buyback programm | $				$ 15,000	$ 15,000
Written call options held by market maker			0				3
Written call options, contractual live | year							10
Written call options, contractual live, remaining | year							1
Written call options, weighted average exercise price | $ / shares							$ 66.07
Number of options repurchased				(3)
Reduction of issued capital	$ 17.1	SFr 22.8
Reduction par value per share | SFr / shares						SFr 0.01
Amount of share buyback programm related to irrevocable, non-discretionary arangement | shares			8.7	11.7

Non-current financial debt (Det

Non-current financial debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of components of non-current financial debts [abstract]
Straight bonds	$ 24,112	$ 20,585
Other bonds	523
Total bonds	24,635	20,585
Liabilities to banks and other institutions	87	42
Total including current portion of non-current financial debt	24,722	20,627
Less current portion of non-current financial debt	(3,356)	(2,191)
Total non-current financial debts	$ 21,366	$ 18,436
Ratio fixed rate financial debt to total financial debt	84%	84%
Average interest rate on other bonds	5.30%
Average interest rate on borrowings	3.20%	2.90%

Non-current financial debt (D_2

Non-current financial debt (Details 1) € in Millions, SFr in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 CHF (SFr)	Dec. 31, 2023 USD ($)
Disclosure of detailed information about borrowings [line items]
Straight bonds	$ 24,112			$ 20,585
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	$ 491			491
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				2,150
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	$ 1,828			1,828
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	$ 624			663
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	$ 553			595
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	$ 609			654
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	$ 360			387
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	$ 1,748			1,745
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	$ 1,223			1,222
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	$ 518			549
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	$ 997			995
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	$ 624			662
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	$ 779			828
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	$ 774			823
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	$ 1,000			999
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	$ 1,248			1,247
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	$ 1,496			1,495
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	$ 1,217			1,216
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	$ 1,918			$ 2,036
Borrowings interest rate step up	25%	25%	25%
1.600% CHF 650 million 2024/2027 Novartis AG, Basel, Switzerland, issued at 100.138% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	1.60%	1.60%	1.60%
Borrowings, original currency	CHF
Notional amount | €		€ 650
Borrowings, issuance year	2024
Borrowings, maturity year	2027
Borrowings, issuer	Novartis AG, Basel, Switzerland
Borrowings, issue price	100.138%
Straight bonds	$ 719
1.650% CHF 435 million 2024/2031 Novartis AG, Basel, Switzerland, issued at 100.148% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	1.65%	1.65%	1.65%
Borrowings, original currency	CHF
Notional amount | €		€ 435
Borrowings, issuance year	2024
Borrowings, maturity year	2031
Borrowings, issuer	Novartis AG, Basel, Switzerland
Borrowings, issue price	100.148%
Straight bonds	$ 481
1.750% CHF 645 million 2024/2034 Novartis AG, Basel, Switzerland, issued at 100.229% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	1.75%	1.75%	1.75%
Borrowings, original currency	CHF
Notional amount | €		€ 645
Borrowings, issuance year	2024
Borrowings, maturity year	2034
Borrowings, issuer	Novartis AG, Basel, Switzerland
Borrowings, issue price	100.229%
Straight bonds	$ 714
1.850% CHF 280 million 2024/2040 Novartis AG, Basel, Switzerland, issued at 100.268% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	1.85%	1.85%	1.85%
Borrowings, original currency	CHF
Notional amount | €		€ 280
Borrowings, issuance year	2024
Borrowings, maturity year	2040
Borrowings, issuer	Novartis AG, Basel, Switzerland
Borrowings, issue price	100.268%
Straight bonds	$ 310
1.850% CHF 190 million 2024/2049 Novartis AG, Basel, Switzerland, issued at 100.149% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	1.85%	1.85%	1.85%
Borrowings, original currency	CHF
Notional amount | €		€ 190
Borrowings, issuance year	2024
Borrowings, maturity year	2049
Borrowings, issuer	Novartis AG, Basel, Switzerland
Borrowings, issue price	100.149%
Straight bonds	$ 210
3.800% USD 1 000 million 2024/2029 Novartis Capital Corporation, New York, United States, issued at 99.757% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	3.80%	3.80%	3.80%
Borrowings, original currency	USD
Notional amount | €		€ 1,000
Borrowings, issuance year	2024
Borrowings, maturity year	2029
Borrowings, issuer	Novartis Capital Corporation, New York, United States
Borrowings, issue price	99.757%
Straight bonds	$ 995
4.000% USD 850 million 2024/2031 Novartis Capital Corporation, New York, United States, issued at 99.565% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	4%	4%	4%
Borrowings, original currency	USD
Notional amount | €		€ 850
Borrowings, issuance year	2024
Borrowings, maturity year	2031
Borrowings, issuer	Novartis Capital Corporation, New York, United States
Borrowings, issue price	99.565%
Straight bonds	$ 844
4.200% USD 1 100 million 2024/2034 Novartis Capital Corporation, New York, United States, issued at 99.282% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	4.20%	4.20%	4.20%
Borrowings, original currency	USD
Notional amount | €		€ 1,100
Borrowings, issuance year	2024
Borrowings, maturity year	2034
Borrowings, issuer	Novartis Capital Corporation, New York, United States
Borrowings, issue price	99.282%
Straight bonds	$ 1,088
4.700% USD 750 million 2024/2054 Novartis Capital Corporation, New York, United States, issued at 99.936% [member]
Disclosure of detailed information about borrowings [line items]
Borrowings, coupon	4.70%	4.70%	4.70%
Borrowings, original currency	USD
Notional amount | €		€ 750
Borrowings, issuance year	2024
Borrowings, maturity year	2054
Borrowings, issuer	Novartis Capital Corporation, New York, United States
Borrowings, issue price	99.936%
Straight bonds	$ 744

Non-current financial debt (D_3

Non-current financial debt (Details 2) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	$ 24,722	$ 20,627
Not later than one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	3,356	2,191
Later than one year and not later than two years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	678	3,338
Later than two years and not later than three years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	3,645	663
Later than three years and not later than four years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	2,495	2,906
Later than four years and not later than five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	1,666	2,585
Later than five years and not later than six years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings		654
Later than five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	$ 12,882
Later than six years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings		$ 8,290

Non-current financial debt (D_4

Non-current financial debt (Details 3) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	$ 24,722	$ 20,627
USD
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	15,495	13,388
EUR
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	5,238	5,563
CHF
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	3,956	1,635
Others
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Borrowings	$ 33	$ 41

Non-current financial debt (D_5

Non-current financial debt (Details 4) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of fair value measurement of liabilities [line items]
Straight bonds	$ 24,112	$ 20,585
Total	24,722	20,627
Balance sheet
Disclosure of fair value measurement of liabilities [line items]
Straight bonds	24,112	20,585
Others	610	42
Total	24,722	20,627
Fair values
Disclosure of fair value measurement of liabilities [line items]
Straight bonds	22,504	19,194
Others	610	42
Total	$ 23,114	$ 19,236

Provisions and other non-curr_3

Provisions and other non-current liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of other provisions [line items]
Defined benefit pension plans	$ 1,571	$ 1,815
Other long-term employee benefits and deferred compensation	591	546
Other post-employment benefits	311	369
Environmental remediation provisions	486	518	$ 535
Product liability, government investigations, other legal matters provisions	75	82	$ 154
Contingent consideration	527	389
Other non-current liabilities	514	804
Total provisions and other non-current liabilities	$ 4,075	$ 4,523

Provisions and other non-curr_4

Provisions and other non-current liabilities (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Environmental provision [roll forward]
Environmental liabilities provision at beginning of period	$ 538	$ 588	$ 616
Cash payments	(4)	(4)	(6)
Releases	(32)	(54)	(18)
Additions	30	14	6
Currency translation effects	(34)	47	(10)
Environmental liabilities provision at end of period	498	538	588
Less current provision	(12)	(20)	(53)
Non-current environmental remediation provisions at end of period	486	518	535
Continuing operations [member]
Environmental provision [roll forward]
Cash payments			(5)
Releases			(18)
Additions			$ 6
Discontinued operations [member]
Environmental provision [roll forward]
Environmental liabilities provision at beginning of period	$ (53)
Environmental liabilities provision at end of period		$ (53)

Provisions and other non-curr_5

Provisions and other non-current liabilities (Details 2) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Environmental provision, fiscal year maturity [abstract]
Due within two years	$ 42
Due later than two years, but within five years	203
Due later than five years, but within ten years	184
Due after ten years	69
Total environmental remediation liability provisions	$ 498	$ 538	$ 588	$ 616

Provisions and other non-curr_6

Provisions and other non-current liabilities (Details 3) $ in Millions	Dec. 31, 2024	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
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, 2024	Dec. 31, 2023	Dec. 31, 2022
Product liability, government investigations, other legal matters provisions [roll forward]
Product liabilities government investigations other legal matters provisions at beginning of period	$ 124	$ 702	$ 397
Provisions related to discontinued operations		(97)
Impact of business combinations			4
Cash payments	(102)	(448)	(105)
Releases	(12)	(219)	(52)
Additions	160	170	466
Currency translation effects	(6)	16	(8)
Product liabilities government investigations other legal matters provisions at end of period	164	124	702
Less current provision	(89)	(42)	(548)
Non-current product liabilities, governmental investigations and other legal matters provisions at end of period	$ 75	$ 82	154
Continuing operations [member]
Product liability, government investigations, other legal matters provisions [roll forward]
Cash payments			(67)
Releases			(38)
Additions			$ 435

Current financial debt and de_3

Current financial debt and derivative financial instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of current financial debt and derivative instruments [abstract]
Bank and other financial debt	$ 642	$ 624
Commercial Papers	4,091	3,269
Current portion of non-current financial debt	3,356	2,191
Fair value of derivative financial instruments	143	91
Total current financial debt and derivative financial instruments	$ 8,232	$ 6,175
Weighted average interest rate on Bank and other financial debt	20.80%	13.20%

Provisions and other current _3

Provisions and other current liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Provisions and other current liabilities [line items]
Provisions for deductions from revenue	$ 7,004	$ 6,315	$ 6,732	$ 6,481
Accruals for compensation and benefits including social security	2,181	2,330
Accruals for royalties	1,099	844
Accrued expenses for goods and services received but not invoiced	901	1,026
Accrual for taxes other than income taxes	626	516
Restructuring provisions	424	703
Contingent consideration	281	14
Accrued share-based payments	262	322	235
Accrued interests on financial debt	169	116
Deferred income	127	98
Provisions for product liabilities, governmental investigations and other legal matters	89	42	548
Environmental remediation provisions	12	20	$ 53
Other payables	879	820
Total provisions and other current liabilities	$ 14,054	$ 13,166

Provisions and other current _4

Provisions and other current liabilities (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Provisions for deductions from revenue [roll forward]
Provisions for deductions from revenue, at beginning of period	$ 6,315	$ 6,732	$ 6,481
Effects of currency translation and business combinations	(197)	68	(210)
Payments/utilizations	(19,829)	(16,703)	(22,261)
Additions prior year	(315)	(206)	(322)
Additions current year	21,157	17,798	23,072
Changes in offset against gross trade receivables	(127)	41	(28)
Provisions for deductions from revenue, at end of period	7,004	6,315	6,732
Continuing operations [member]
Provisions for deductions from revenue [roll forward]
Payments/utilizations			(14,691)
Additions prior year			(218)
Additions current year			15,231
Changes in offset against gross trade receivables			$ (2)
Discontinued operations [member]
Provisions for deductions from revenue [roll forward]
Provisions for deductions from revenue, discontinued operations, at beginning of period	$ 1,415
Provisions for deductions from revenue, discontinued operations, at end of period		$ 1,415

Provisions and other current _5

Provisions and other current liabilities (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring provisions movements [roll forward]
Cash payments	$ (19,829)	$ (16,703)	$ (22,261)
Continuing operations [member]
Restructuring provisions movements [roll forward]
Cash payments			(14,691)
Restructuring provision
Restructuring provisions movements [roll forward]
Provision at beginning of period	703	1,131	345
Provisions related to discontinued operations		(51)
Additions	362	658	1,368
Cash payments	(514)	(816)	(468)
Releases	(100)	(193)	(42)
Transfers		(57)	(53)
Currency translation effects	(27)	31	(19)
Provision at end of period	$ 424	$ 703	1,131
Restructuring provision | Continuing operations [member]
Restructuring provisions movements [roll forward]
Additions			1,300
Cash payments			(421)
Releases			(33)
Transfers			$ (53)

Details to the consolidated cas

Details to the consolidated cash flow statements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract]
Change in provisions and other non-current liabilities	$ 696	$ 61	$ 1,318
Gains on disposal on property, plant and equipment; intangible assets; and other adjustments on financial assets; and other non-current assets, net	(74)	(180)	(308)
Equity-settled compensation expense	1,044	865	791
Income from associated companies	38	13	11
Income taxes	1,701	551	1,128
Net financial expense	866	633	758
Other	(153)	43	(32)
Total	10,232	10,369	10,631
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	932	1,006	1,374
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	256	263	270
Acquisition of assets (right of use assets) through leasing	304	421	216
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	4,881	7,008	5,061
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	45	$ 106	260
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	$ 0		$ 635

Details to the consolidated c_2

Details to the consolidated cash flow statements (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Income taxes paid (refund), classified as operating activities	$ 2,258	$ 2,787	$ 1,702
Income taxes paid refund classified as operating activities total company	2,258	2,949	1,975
Discontinued operations
Statement [line items]
Income taxes paid refund classified as operating activities discontinued operations	$ 0	$ 162	$ 273

Details to the consolidated c_3

Details to the consolidated cash flow statements (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Increase in inventories	$ (225)	$ (546)	$ (560)
Increase in trade receivables	(931)	(1,504)	(397)
(Decrease)/increase in trade payables	(105)	479	(181)
Change in other current and non-current assets	(502)	(125)	(84)
Change in other current liabilities	1,057	1,327	426
Total	$ (706)	$ (369)	$ (796)

Details to the consolidated c_4

Details to the consolidated cash flow statements (Details 5) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 30, 2024 USD ($)
Statement [line items]
Net assets recognized as a result of acquistions of businesses	$ (4,629)		$ (3,925)
Net cash flows	(3,911)		(3,558)	$ (840)
MorphoSys AG
Statement [line items]
Net assets recognized as a result of acquistions of businesses					$ (700)
Discontinued operations
Statement [line items]
Net cash flows			(22)	(39)
Acquisitions
Statement [line items]
Net assets recognized as a result of acquistions of businesses	(4,629)		(3,925)	(1,166)
Acquired cash and cash equivalents	242		226	89
Fair value of previously held equity interests			26	21
Contingent consideration payables, net	377		146	224
Payments, deferred consideration and other adjustments, net	(8)		(34)	0
Net cash flows	(4,018)		(3,561)	(832)
Acquisitions | MorphoSys AG
Statement [line items]
Payments, deferred consideration and other adjustments, net	(58)	€ (53)
Divestments
Statement [line items]
Net cash flows	107		$ 3	(8)
Non-current assets divested	159			127
Net cash inflows from divestment				(12)
Current assets divested	48			70
Cash and cash equivalents in subsidiary or businesses acquired or disposed	(8)			(62)
Deferred sale price and other adjustments				19
Cash outflows due to derecognized cash and cash equivalents				20
Non-current and current liabilities divested	65			58
Net identifiable assets of divested business	$ 142			$ 139

Details to the consolidated c_5

Details to the consolidated cash flow statements (Details 6) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Proceeds from non-current financial debts	$ 6,143
Repayments of the current portion of non-current financial debts	(2,160)	$ (2,223)	$ (2,575)
Change in current financial debts	958	546	252
Repayments of other current financial debts	(289)
Payments of lease liabilities	(262)	(258)	(262)
Cash outflows from interest bearing accounts of employees payable on demand			1,700
Financial debt [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities at beginning of period	24,520	26,120	29,129
Proceeds from non-current financial debts	6,143		16
Repayments of the current portion of non-current financial debts	(2,160)	(2,223)	(2,575)
Change in current financial debts	958	546	295
Repayments of other current financial debts	(289)
Impact of acquisitions and divestments of businesses, net	852
Changes in fair values, lease interest and other changes, net	(8)	(2)
Amortization of bonds discount	33	17	22
Currency translation effects	(594)	276	(767)
Financial debts, derivative financial instruments and lease liabilities at end of period	29,455	24,520	26,120
Derivative financial instruments [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities at beginning of period	91	55	68
Changes in fair values, lease interest and other changes, net	52	37	(13)
Financial debts, derivative financial instruments and lease liabilities at end of period	143	91	55
Lease liabilities [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities at beginning of period	1,828	1,789	1,896
Payments of lease liabilities	(262)	(258)	(295)
Interest payments for amounts included in lease liabilities classified as cash flows from operating activities	(62)	(52)	(51)
New, modified and terminated leases, net	241	349	222
Impact of acquisitions and divestments of businesses, net	42	51	12
Changes in fair values, lease interest and other changes, net	72	28	60
Currency translation effects	(56)	19	(55)
Financial debts, derivative financial instruments and lease liabilities at end of period	1,803	1,828	1,789
Not later than one year | Financial debt [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities at beginning of period	6,084	5,876
Financial debts, derivative financial instruments and lease liabilities at end of period	8,089	6,084	5,876
Not later than one year | Derivative financial instruments [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities at beginning of period	91	55
Financial debts, derivative financial instruments and lease liabilities at end of period	143	91	55
Not later than one year | Lease liabilities [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities at beginning of period	230	251
Financial debts, derivative financial instruments and lease liabilities at end of period	235	230	251
Later than one year | Financial debt [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities at beginning of period	18,436	20,244
Financial debts, derivative financial instruments and lease liabilities at end of period	21,366	18,436	20,244
Later than one year | Lease liabilities [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities at beginning of period	1,598	1,538
Financial debts, derivative financial instruments and lease liabilities at end of period	$ 1,568	1,598	1,538
Continuing operations | Financial debt [member]
Statement [line items]
Proceeds from non-current financial debts			0
Change in current financial debts			252
Continuing operations | Lease liabilities [member]
Statement [line items]
Payments of lease liabilities			(262)
Interest payments for amounts included in lease liabilities classified as cash flows from operating activities			$ 48
Discontinued operations | Financial debt [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities related to discontinued operations		(214)
Discontinued operations | Derivative financial instruments [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities related to discontinued operations		(1)
Discontinued operations | Lease liabilities [member]
Statement [line items]
Financial debts, derivative financial instruments and lease liabilities related to discontinued operations		$ (98)

Post-employment benefits for _3

Post-employment benefits for employees (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of defined benefit plans [line items]
Concentration of major plans, geographic	In addition to the legally required social security schemes, the Company 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 Company. For certain Company entities, 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 using the projected unit credit method. Plan assets are recognized at fair value.The major plans are based in Switzerland, the United States, the United Kingdom and Germany (2023: Switzerland, the United States, the United Kingdom, Germany and Japan), which represent 96% (2023: 96%) of the Company’s total DBO for pension plans. Details of the plans in the two most significant countries, Switzerland and the United States, which represent 85% (2023: 84%) of the Company’s total DBO for post-employment benefit plans, are provided below.
Major plans percentage in group DBO pensions	96%	96%
Most signigicant countries percentage on group DBO post employment benefit plans	85%	84%

Post-employment benefits for _4

Post-employment benefits for employees (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension plans
Defined benefit plan, change in benefit obligation [roll forward]
Benefit obligation at beginning of period	$ 19,037	$ 17,533
Benefit obligation at end of period	17,775	19,037
Defined benefit plan, change in fair value of plan assets [roll forward]
Fair value of plan assets at beginning of period	19,934	18,945
Fair value of plan assets at end of period	18,868	19,934
Funded status	1,093	897
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward]
Limitation on recognition of fund surplus at beginning of period	(2,167)	(2,644)
Limitation on recognition of fund surplus at end of period	(60)	(2,167)
Net asset/(liability) in the balance sheet at end of period	1,033	(1,270)	$ (1,232)
Pension plans | Switzerland
Defined benefit plan, change in benefit obligation [roll forward]
Benefit obligation at beginning of period	13,453
Benefit obligation at end of period	12,843	13,453
Defined benefit plan, change in fair value of plan assets [roll forward]
Fair value of plan assets at beginning of period	15,892
Fair value of plan assets at end of period	15,225	15,892
Funded status	2,382	2,439
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward]
Limitation on recognition of fund surplus at beginning of period	2,112
Limitation on recognition of fund surplus at end of period		2,112
Other post-employment benefit plans
Defined benefit plan, change in benefit obligation [roll forward]
Benefit obligation at beginning of period	440	422
Benefit obligation at end of period	392	440
Defined benefit plan, change in fair value of plan assets [roll forward]
Fair value of plan assets at beginning of period	71	60
Fair value of plan assets at end of period	81	71
Funded status	(311)	(369)
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward]
Net asset/(liability) in the balance sheet at end of period	(311)	(369)	$ (362)
Continuing operations [member] | Pension plans
Defined benefit plan, change in benefit obligation [roll forward]
Current service cost	259	260
Interest cost	398	504
Past service cost and settlements	(85)	28
Administrative expenses	24	25
Remeasurement losses/(gains) arising from changes in financial assumptions	431	1,350
Remeasurement losses/(gains) arising from changes in demographic assumptions	(98)	(303)
Experience-related remeasurement losses/(gains)	76	23
Currency translation effects	(1,065)	1,304
Benefit payments	(1,373)	(1,384)
Contributions of associates	176	174
Effect of acquisitions, divestments or transfers	(5)	52
Defined benefit plan, change in fair value of plan assets [roll forward]
Interest income	369	514
Return on plan assets excluding interest income	682	175
Currency translation effects	(1,187)	1,524
Novartis Group contributions	381	408
Contributions of associates	176	174
Settlements	(110)	(35)
Benefit payments	(1,373)	(1,384)
Effect of acquisitions, divestments or transfers	(4)	(1)
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward]
Change in limitation on recognition of fund surplus	2,034	740
Currency translation effects	100	(209)
Interest income on limitation of fund surplus	(27)	(60)
Continuing operations [member] | Other post-employment benefit plans
Defined benefit plan, change in benefit obligation [roll forward]
Current service cost	9	9
Interest cost	23	22
Past service cost and settlements	12
Remeasurement losses/(gains) arising from changes in financial assumptions	(10)	13
Remeasurement losses/(gains) arising from changes in demographic assumptions		(14)
Experience-related remeasurement losses/(gains)	(43)	44
Currency translation effects	(13)	4
Benefit payments	(26)	(34)
Defined benefit plan, change in fair value of plan assets [roll forward]
Interest income	3	2
Return on plan assets excluding interest income	7	10
Novartis Group contributions	26	33
Benefit payments	$ (26)	(34)
Discontinued operations [member] | Pension plans
Defined benefit plan, change in benefit obligation [roll forward]
Benefit obligation, discontinued operations at beginning of period		(529)
Defined benefit plan, change in fair value of plan assets [roll forward]
Fair value of plan assets discontinued operations at beginning of period		(386)
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward]
Limitation on recognition of fund surplus discontinued operations at beginning of period		(6)
Discontinued operations [member] | Other post-employment benefit plans
Defined benefit plan, change in benefit obligation [roll forward]
Benefit obligation, discontinued operations at beginning of period		$ (26)

Post-employment benefits for _5

Post-employment benefits for employees (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Amounts recognized in the consolidated balance sheet [abstract]
Prepaid benefit cost	$ 2,604	$ 545
Pension plans
Defined benefit plan, change in net liability [roll forward]
Net liability at beginning of period	(1,270)	(1,232)
Net asset/(liability) at end of period	1,033	(1,270)
Amounts recognized in the consolidated balance sheet [abstract]
Prepaid benefit cost	2,604	545
Accrued benefit liability	(1,571)	(1,815)
Other post-employment benefit plans
Defined benefit plan, change in net liability [roll forward]
Net liability at beginning of period	(369)	(362)
Net asset/(liability) at end of period	(311)	(369)
Amounts recognized in the consolidated balance sheet [abstract]
Accrued benefit liability	(311)	(369)
Continuing operations [member] | Pension plans
Defined benefit plan, change in net liability [roll forward]
Current service cost	(259)	(260)
Net interest expense	(56)	(50)
Administrative expenses	(24)	(25)
Past service cost and settlements	(25)	(63)
Remeasurements	273	(895)
Currency translation effects	(22)	11
Novartis Group contributions	381	408
Effect of acquisitions, divestments or transfers	1	(53)
Change in limitation on recognition of fund surplus	2,034	740
Continuing operations [member] | Other post-employment benefit plans
Defined benefit plan, change in net liability [roll forward]
Current service cost	(9)	(9)
Net interest expense	(20)	(20)
Past service cost and settlements	(12)
Remeasurements	60	(33)
Currency translation effects	13	(4)
Novartis Group contributions	$ 26	33
Discontinued operations [member] | Pension plans
Defined benefit plan, change in net liability [roll forward]
Net liability discontinued operations at beginning of period		(149)
Discontinued operations [member] | Other post-employment benefit plans
Defined benefit plan, change in net liability [roll forward]
Net liability discontinued operations at beginning of period		$ (26)

Post-employment benefits for _6

Post-employment benefits for employees (Details 3) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension plans
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	$ 17,775	$ 19,037	$ 17,533
Plan assets, at fair value	18,868	19,934	18,945
Funded status	1,093	897
Pension plans | Unfunded
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	879	928
Pension plans | Active
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	6,358	6,793
Pension plans | Deferred pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	1,567	1,682
Pension plans | Pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	9,850	10,562
Pension plans | Switzerland
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	12,843	13,453
Plan assets, at fair value	15,225	15,892
Funded status	2,382	2,439
Pension plans | Switzerland | Active
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	5,447	5,557
Pension plans | Switzerland | Pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	7,396	7,896
Pension plans | US
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	2,374	2,574
Plan assets, at fair value	1,746	1,835
Funded status	(628)	(739)
Pension plans | US | Unfunded
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	501	538
Pension plans | US | Active
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	259	389
Pension plans | US | Deferred pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	743	770
Pension plans | US | Pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	1,372	1,415
Pension plans | Rest of the world
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	2,558	3,010
Plan assets, at fair value	1,897	2,207
Funded status	(661)	(803)
Pension plans | Rest of the world | Unfunded
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	378	390
Pension plans | Rest of the world | Active
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	652	847
Pension plans | Rest of the world | Deferred pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	824	912
Pension plans | Rest of the world | Pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	1,082	1,251
Other post-employment benefit plans
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	392	440	422
Plan assets, at fair value	81	71	$ 60
Funded status	(311)	(369)
Other post-employment benefit plans | Unfunded
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	311	369
Other post-employment benefit plans | Active
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	38	40
Other post-employment benefit plans | Deferred pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value		1
Other post-employment benefit plans | Pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	354	399
Other post-employment benefit plans | US
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	314	356
Plan assets, at fair value	81	71
Funded status	(233)	(285)
Other post-employment benefit plans | US | Unfunded
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	233	285
Other post-employment benefit plans | US | Active
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	28	30
Other post-employment benefit plans | US | Deferred pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value		1
Other post-employment benefit plans | US | Pensioners
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	286	325
Other post-employment benefit plans | Rest of the world
Disclosure of net defined benefit liability (asset) [line items]
Defined benefit obligation, at present value	78	84
Funded status	(78)	(84)
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	78	84
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	10	10
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	$ 68	$ 74

Post-employment benefits for _7

Post-employment benefits for employees (Details 4)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension plans
Disclosure of defined benefit plans [line items]
Discount rate	1.90%	2.20%	3%
Expected rate of pension increase	0.30%	0.30%	0.40%
Expected rate of salary increase	2.60%	3%	2.90%
Interest on savings account	2%	1.30%	2.20%
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	5.50%	5.50%	6.30%
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, 2024	Dec. 31, 2023
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	$ (484)	$ (528)
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	511	557
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	611	644
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	329	366
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	(52)	(61)
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	43	43
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	(41)	(42)
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	41	41
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ (41)	$ (42)

Post-employment benefits for _9

Post-employment benefits for employees (Details 6) - Other post-employment benefit plans	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of defined benefit plans [line items]
Healthcare cost trend rate assumed for next year	6.50%	6.30%	6.50%
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	2033	2031	2031

Post-employment benefits for_10

Post-employment benefits for employees (Details 7) - Pension plans - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	$ 18,868	$ 19,934	$ 18,945
Shares held by defined benefit plan	2.3	2.3
Value of shares held by defined benefit plan	$ 200	$ 200
Weighted average duration of defined benefit obligation years	12 years	12 years 3 months 18 days
Equity securities
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	$ 5,052	$ 4,931
Debt securities
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	6,309	6,730
Real estate
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	3,775	3,821
Alternative investments
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	3,167	3,360
Cash and other investments
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	$ 565	$ 1,092

Post-employment benefits for_11

Post-employment benefits for employees (Details 8) $ in Millions	Dec. 31, 2024 USD ($)
Pension plans
Novartis Group contributions
Contributions, next fiscal year (estimated)	$ 353
Pension plans | Not later than one year [member]
Expected future benefit payments
Expected future benefit payment	1,400
Pension plans | Later than one year and not later than two years [member]
Expected future benefit payments
Expected future benefit payment	1,316
Pension plans | Later than two years and not later than three years [member]
Expected future benefit payments
Expected future benefit payment	1,152
Pension plans | Later than three years and not later than four years [member]
Expected future benefit payments
Expected future benefit payment	1,122
Pension plans | Later than four years and not later than five years [member]
Expected future benefit payments
Expected future benefit payment	1,096
Pension plans | Later than five years and not later than ten years [member]
Expected future benefit payments
Expected future benefit payment	5,079
Other post-employment benefit plans
Novartis Group contributions
Contributions, next fiscal year (estimated)	36
Other post-employment benefit plans | Not later than one year [member]
Expected future benefit payments
Expected future benefit payment	36
Other post-employment benefit plans | Later than one year and not later than two years [member]
Expected future benefit payments
Expected future benefit payment	36
Other post-employment benefit plans | Later than two years and not later than three years [member]
Expected future benefit payments
Expected future benefit payment	36
Other post-employment benefit plans | Later than three years and not later than four years [member]
Expected future benefit payments
Expected future benefit payment	35
Other post-employment benefit plans | Later than four years and not later than five years [member]
Expected future benefit payments
Expected future benefit payment	34
Other post-employment benefit plans | Later than five years and not later than ten years [member]
Expected future benefit payments
Expected future benefit payment	$ 160

Post-employment benefits for_12

Post-employment benefits for employees (Details 9) - Continuing operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined contribution pension and other post-retirement plans disclosure [line items]
Post-employment benefit expense, defined contribution plans	$ 556	$ 477	$ 483
Personnel costs	$ 12,700	$ 12,700	$ 13,100

Equity-based participation pl_3

Equity-based participation plans for employees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense from share-based payment transactions with employees	$ 1,307	$ 1,142	$ 982
Liabilities from share-based payment transactions	$ 262	322	235
Discontinued operations
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense from share-based payment transactions with employees		$ 60	$ 66

Equity-based participation pl_4

Equity-based participation plans for employees (Details 1)	12 Months Ended
	Dec. 31, 2024
Annual incentive
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of share-based payment arrangement	In 2024, 30% of the Annual Incentive for the Novartis Company CEO and other Executive Committee members (ECN) was required to be deferred in Novartis shares, after the CEO and Executive Committee members (ECN) have met their mandatory shareholding requirements, and the remainder was paid in cash. If the mandatory shareholding requirements were not met, 50% was required to be deferred in Novartis shares and the remainder was paid in cash. In 2023 and 2022 the Annual Incentive for the Novartis Company CEO and other Executive Committee members (ECN) was paid 50% in cash and 50% in Novartis restricted shares (RSs) or restricted share units (RSUs). In 2024 the Annual Incentive for a select portion of the Novartis management leadership team is paid 100% in cash. In 2023 and 2022, for a select portion of the Novartis management leadership team, the Annual Incentive was paid 70% in cash and 30% in RSs or RSUs. Both the ECN and a select portion of Novartis management leadership team can opt to invest up to the maximum cash portion of their Annual Incentive to receive further shares. From 2024 only a select portion of the Novartis management leadership team in Switzerland may invest its Annual Incentive in shares through the Employee Share Ownership Plan (ESOP). The cash portion of the Annual Incentive 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 planNovartis operates employee share savings and purchase plans in certain countries. The most significant is described below.The 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 the expiration of a three-year holding period for Novartis shares invested under the ESOP, participants receive one matching share for every two invested shares. Employees eligible for the equity plan “Select” and a select portion of the Novartis management leadership team are not eligible to receive ESOP matching shares. A select portion of Novartis management leadership team is eligible to invest the Annual Incentive in Novartis shares from 2024 onwards. The Novartis Company CEO and the other Executive Committee members 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 planIn 2022 Novartis started to grant shares under the Employee Share Purchase Plan (ESPP). The ESPP enables employees to voluntarily purchase Novartis AG shares through payroll deductions at a 15% discounted price, up to a defined maximum amount. While the ESPP is global in scope, the first phase covered employees in North America (the US, Puerto Rico and Canada). Other countries’ employees became eligible to participate in the ESPP commencing in 2024, according to a multi-year phased implementation plan. 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 an equity grant. In 2024, the equity grants awarded under the “Select” plan are subject to a three-year staggered vesting period. In 2023 and 2022, equity grants awarded under the Select plan were subject to a three-year cliff vesting period, and for eligible employees of selected Company units a four-year staggered vesting period. Executive Committee members and a select portion of Novartis management leadership team 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. All tradable share options expired on their 10th anniversary from the grant date, which was in January 2023. As a result, at December 31, 2023, there were no outstanding options under the Novartis equity plan “Select.”
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 a global equity plan for the ECN, a select portion of Novartis management leadership team and up to 2023 employees of Company 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. The performance criteria for the ECN are based on both Novartis internal performance metrics and variable 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. Only ECN members, as from performance cycle 2023, are subject to the TSR performance metric under the LTPP.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. Other share awards
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 selected employee is 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 (not applicable to ECN). 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 a similar value with a similar vesting period, and with or without a performance condition.Worldwide, employees at different levels in the organization were awarded RSs and RSUs in 2024, 2023 and 2022.In addition, in 2024, 2023 and 2022, Board members received unrestricted shares as part of their regular compensation.

Equity-based participation pl_5

Equity-based participation plans for employees (Details 2)	12 Months Ended
	Dec. 31, 2024 $ / shares	Dec. 31, 2023 $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Discount rate for voluntary employee share purchase plan	15%
Equity-Based Participation Annual Incentive RSU [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted, number of shares	200,000	300,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 96.7	$ 74.2
Equity Based Participation Annual Incentive Restricted Shares [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted, number of shares	100,000	100,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 107.8	$ 92.3
Equity Based Participation Share savings plans RSU [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted, number of shares	500,000	400,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 96.8	$ 71.3
Equity Based Participation Share savings plans Shares [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted, number of shares	1,300,000	1,000,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 107.8	$ 92.3
Equity-Based Participation Employee share purchase plan [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted, number of shares	1,000,000	900,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 104.9	$ 96.2
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	3,400,000	4,500,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 100.1	$ 73.9
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	1,400,000	1,900,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 100.2	$ 73.3
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	600,000	600,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 107.8	$ 92.3
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	1,100,000	1,800,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 98.6	$ 80.6
Equity Based Participation Other share awards RSU [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted, number of shares	400,000	600,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement	$ 96.8	$ 75.9

Transaction with related partie

Transaction with related parties (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of transactions between related parties [line items]
Executive Committee members	11	11	11
Related parties, number of executive committee members who stepped down	0	1	5
Non-executive directors	13	14	15

Transactions with related par_3

Transactions with related parties (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of transactions between related parties [line items]
Benefits other than equity-based compensation	$ 23.9	$ 22.9	$ 29.6
Post-employment benefits	2.4	2.1	2.8
Equity-based compensation	67.3	67.2	47.4
Total	93.6	92.2	79.8
Key management personnel of entity or parent [member]
Disclosure of transactions between related parties [line items]
Benefits other than equity-based compensation	19	18	25
Post-employment benefits	2.4	2.1	2.8
Equity-based compensation	61.9	62.2	42.6
Total	83.3	82.3	70.4
Non-Executive Director [member]
Disclosure of transactions between related parties [line items]
Benefits other than equity-based compensation	4.9	4.9	4.6
Equity-based compensation	5.4	5	4.8
Total	$ 10.3	$ 9.9	$ 9.4

Transactions with related par_4

Transactions with related parties (Details 2) $ in Millions	Dec. 31, 2018 USD ($)
Novartis Pension Fund [member]
Disclosure of transactions between related parties [line items]
Borrowings credit facility uncommitted	$ 500

Commitments and contingencies_2

Commitments and contingencies (Details) $ in Millions	Dec. 31, 2024 USD ($)
Schedule for commitments under research and development and other intangible asset purchase [line items]
Commitments under long-term research and development agreements	$ 10,798
Uncalled capital commitments for investments in funds	63
Commitments related to acquisitions of businesses and interests in intellectual property	1,900
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	135
Commitments related to acquisitions of businesses and interests in intellectual property	1,000
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	402
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	739
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	746
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	653
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	$ 8,123

Financial instruments - addit_3

Financial instruments - additional disclosures (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
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	$ 11,409	$ 13,343
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	50	50
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	583	1,289
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	27	29
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	464	1,086
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	1,524	1,582
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	791	618
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	109	101
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	106	355
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] | Debt securities [member]
Disclosure of financial assets [line items]
Financial assets	26
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	282	317
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	210	190
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member]
Disclosure of financial assets [line items]
Financial assets	22,345	22,578
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	7,423	7,107
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	1,286	1,127
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	1,892	569
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	335	432
Financial assets at amortised cost, class [member] | Financial assets at fair value through other comprehensive income, category [member] | Other current assets [member]
Disclosure of financial assets [line items]
Financial assets	$ 42	124
Financial assets at amortised cost, class [member] | Financial assets at fair value through profit or loss, category [member] | Other current assets [member]
Disclosure of financial assets [line items]
Financial assets		$ 1

Financial instruments - addit_4

Financial instruments - additional disclosures (Details 1) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member]
Disclosure of financial liabilities [line items]
Financial liabilities	$ 34,027	$ 29,446
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	642	624
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	4,091	3,269
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	24,112	20,585
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Non-current financial debt [member] | Other bonds [member]
Disclosure of financial liabilities [line items]
Financial liabilities	523
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	87	42
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	4,572	4,926
Financial liabilities at amortised cost, class [member] | Other financial liabilities, category [member] | Lease liabilities [member]
Disclosure of financial liabilities [line items]
Financial liabilities	1,803	1,828
Financial liabilities at amortised cost, class [member] | Other financial liabilities, category [member] | Other financial liabilities [member]
Disclosure of financial liabilities [line items]
Financial liabilities	1,803	1,828
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	951	582
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	808	491
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	$ 143	$ 91

Financial instruments - addit_5

Financial instruments - additional disclosures (Details 2) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Contract or underlying principal amout [member]
Disclosure of derivative financial instruments [line items]
Derivative financial instruments	$ 10,353	$ 12,020
Positive fair values [member]
Disclosure of derivative financial instruments [line items]
Derivative financial instruments	106	355
Negative fair values [member]
Disclosure of derivative financial instruments [line items]
Derivative financial instruments	(143)	(91)
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	10,194	11,944
Derivative financial instruments, commodity purchase contract	159	76
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	81	335
Derivative financial instruments, commodity purchase contract	25	20
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	$ (143)	$ (91)

Financial instruments - addit_6

Financial instruments - additional disclosures (Details 3) - Contract or underlying principal amout [member] - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of derivative financial instruments [line items]
Derivative financial instruments	$ 10,353	$ 12,020
EUR
Disclosure of derivative financial instruments [line items]
Derivative financial instruments	1,173	1,690
USD
Disclosure of derivative financial instruments [line items]
Derivative financial instruments	1,727	8,995
Others
Disclosure of derivative financial instruments [line items]
Derivative financial instruments	7,453	1,335
Derivative financial instruments, at fair value currency related [member]
Disclosure of derivative financial instruments [line items]
Derivative financial instruments, forward foreign exchange rate contracts	10,194	11,944
Derivative financial instruments, commodity purchase contract	159	76
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	1,024	1,629
Derivative financial instruments, commodity purchase contract	149	61
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	1,717	8,980
Derivative financial instruments, commodity purchase contract	10	15
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	$ 7,453	$ 1,335

Financial instruments - addit_7

Financial instruments - additional disclosures (Details 4) - Recurring fair value measurement [member] - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Cash and cash equivalents [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	$ 50	$ 50
Cash and cash equivalents [member] | Debt securities
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	50	50
Marketable securities, time deposits and derivative financial instruments [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	106	355
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	106	355
Financial investments and long-term loans [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	1,680	2,175
Financial investments and long-term loans [member] | Fund investments [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	210	190
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	799	1,432
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	671	553
Associated companies at fair value through profit and loss [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	109	101
Contingent consideration receivables [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	120	65
Fund investments and equity securities current [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	42	125
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	50	50
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	50	50
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	208	803
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	15	7
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	193	796
Level 1 of fair value hierarchy [member] | Fund investments and equity securities current [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	24	94
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	106	355
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	106	355
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	7	20
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	7	20
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	1,465	1,352
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	195	183
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	599	616
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	671	553
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	109	101
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	120	65
Level 3 of fair value hierarchy [member] | Fund investments and equity securities current [member]
Disclosure of fair value measurement of assets [line items]
Financial assets, at fair value	$ 18	$ 31

Financial instruments - addit_8

Financial instruments - additional disclosures (Details 5) - Recurring fair value measurement [member] - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Contingent consideration payables [member]
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities, at fair value	$ (281)	$ (14)
Other financial liabilities [member]
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities, at fair value		(88)
Derivative financial instruments [member]
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities, at fair value	(143)	(91)
Non-current contingent consideration liabilities [member]
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities, at fair value	(527)	(389)
Current financial liabilities at fair value [member]
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities, at fair value	(424)	(193)
Non-current financial liabilities at fair value [member]
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities, at fair value	(527)	(389)
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	(143)	(91)
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	(143)	(91)
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	(281)	(14)
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		(88)
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	(527)	(389)
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	(281)	(102)
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	$ (527)	$ (389)

Financial instruments - addit_9

Financial instruments - additional disclosures (Details 6) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
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	$ 101	$ 129
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement	24	4
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement	(12)	(28)
Fair value adjustments recognized in the consolidated statement of comprehensive income	(2)	2
Purchases fair value measurement assets	16	9
Disposals fair value measurement assets	(18)	(6)
Reclassification fair value measurement assets		(9)
Fair value measurement, carrying value, level 3, at end of period	109	101
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end	12	(24)
Fund investments [member]
Disclosure of derivative financial instruments [line items]
Fair value measurement, carrying value, level 3, at beginning of period	184	261
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement	38	1
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement	(14)	(48)
Fair value adjustments recognized in the consolidated statement of comprehensive income	(2)	3
Purchases fair value measurement assets	12	14
Disposals fair value measurement assets	(21)	(47)
Reclassification fair value measurement assets	(2)
Fair value measurement, carrying value, level 3, at end of period	195	184
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end	24	(47)
Long term financial investments [member]
Disclosure of derivative financial instruments [line items]
Fair value measurement, carrying value, level 3, at beginning of period	647	699
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement	22	11
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement	(110)	(63)
Fair value adjustments recognized in the consolidated statement of comprehensive income	(9)	71
Purchases fair value measurement assets	130	82
Disposals fair value measurement assets	(44)	(80)
Reclassification fair value measurement assets	(19)	(73)
Fair value measurement, carrying value, level 3, at end of period	617	647
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end	(88)	(52)
Contingent consideration receivables [member]
Disclosure of derivative financial instruments [line items]
Fair value measurement, carrying value, level 3, at beginning of period	618	650
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement	236	48
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement		(31)
Fair value adjustments recognized in the consolidated statement of comprehensive income	(39)
Purchases fair value measurement assets	53
Cash receipts and payments fair value measurement assets	(77)	(49)
Fair value measurement, carrying value, level 3, at end of period	791	618
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end	236	17
Contingent consideration payables [member]
Disclosure of derivative financial instruments [line items]
Fair value measurement, carrying value, level 3, at beginning of period	(403)	(835)
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement	41	552
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement	(100)	(65)
Fair value adjustments recognized in the consolidated statement of comprehensive income	7	(32)
Purchases fair value measurement assets	(376)	(180)
Cash receipts and payments fair value measurement assets	23	20
Disposals fair value measurement assets		36
Fair value measurement, carrying value, level 3, at end of period	(808)	(403)
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end	(59)	487
Other financial liabilities [member]
Disclosure of derivative financial instruments [line items]
Fair value measurement, carrying value, level 3, at beginning of period	(88)	(232)
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement		(9)
Cash receipts and payments fair value measurement assets	$ 88	153
Fair value measurement, carrying value, level 3, at end of period		(88)
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end		(9)
Discontinued operations [member] | Contingent consideration payables [member]
Disclosure of derivative financial instruments [line items]
Fair value measurement, carrying value, level 3, at beginning of period		$ 101

Financial instruments - addi_10

Financial instruments - additional disclosures (Details 7) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Maturity of net debt [line items]
Current financial assets	$ 13,457	$ 14,428
Non-current financial debts	(21,366)	(18,436)
Current financial debt	(8,232)	(6,175)
Net debt	(16,141)	(10,183)
Marketable securities and time deposits [member]
Maturity of net debt [line items]
Current financial assets	1,892	569
Commodities [member]
Maturity of net debt [line items]
Current financial assets		111
Deriviative financial instruments and accrued interest [member]
Maturity of net debt [line items]
Current financial assets	106	355
Cash and cash equivalents [member]
Maturity of net debt [line items]
Current financial assets	11,459	13,393
Financial debt [member]
Maturity of net debt [line items]
Non-current financial debts	(21,366)	(18,436)
Current financial debt	(8,089)	(6,084)
Financial debt - undiscounted [member]
Maturity of net debt [line items]
Non-current financial debts	(21,515)	(18,572)
Current financial debt	(8,091)	(6,084)
Derivative financial instruments [member]
Maturity of net debt [line items]
Current financial debt	(143)	(91)
Not later than one month [member]
Maturity of net debt [line items]
Current financial assets	7,955	7,677
Current financial debt	(3,977)	(3,371)
Net debt	3,978	4,306
Not later than one month [member] | Marketable securities and time deposits [member]
Maturity of net debt [line items]
Current financial assets		12
Not later than one month [member] | Deriviative financial instruments and accrued interest [member]
Maturity of net debt [line items]
Current financial assets	37	24
Not later than one month [member] | Cash and cash equivalents [member]
Maturity of net debt [line items]
Current financial assets	7,918	7,641
Not later than one month [member] | Financial debt [member]
Maturity of net debt [line items]
Current financial debt	(3,963)	(3,328)
Not later than one month [member] | Financial debt - undiscounted [member]
Maturity of net debt [line items]
Current financial debt	(3,963)	(3,328)
Not later than one month [member] | Derivative financial instruments [member]
Maturity of net debt [line items]
Current financial debt	(14)	(43)
Later than one month and not later than three months [member]
Maturity of net debt [line items]
Current financial assets	5,437	6,578
Current financial debt	(1,749)	(411)
Net debt	3,688	6,167
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	1,858	516
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	38	310
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	3,541	5,752
Later than one month and not later than three months [member] | Financial debt [member]
Maturity of net debt [line items]
Current financial debt	(1,620)	(372)
Later than one month and not later than three months [member] | Financial debt - undiscounted [member]
Maturity of net debt [line items]
Current financial debt	(1,620)	(372)
Later than one month and not later than three months [member] | Derivative financial instruments [member]
Maturity of net debt [line items]
Current financial debt	(129)	(39)
Later than three month and not later than twelve months [member]
Maturity of net debt [line items]
Current financial assets	41	42
Current financial debt	(2,506)	(2,393)
Net debt	(2,465)	(2,351)
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	34	41
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	7	1
Later than three month and not later than twelve months [member] | Financial debt [member]
Maturity of net debt [line items]
Current financial debt	(2,506)	(2,384)
Later than three month and not later than twelve months [member] | Financial debt - undiscounted [member]
Maturity of net debt [line items]
Current financial debt	(2,508)	(2,384)
Later than three month and not later than twelve months [member] | Derivative financial instruments [member]
Maturity of net debt [line items]
Current financial debt		(9)
Between one and five years
Maturity of net debt [line items]
Non-current financial debts	(8,484)	(9,492)
Net debt	(8,484)	(9,492)
Between one and five years | Financial debt [member]
Maturity of net debt [line items]
Non-current financial debts	(8,484)	(9,492)
Between one and five years | Financial debt - undiscounted [member]
Maturity of net debt [line items]
Non-current financial debts	(8,505)	(9,522)
Later than five years
Maturity of net debt [line items]
Current financial assets	24	131
Non-current financial debts	(12,882)	(8,944)
Net debt	(12,858)	(8,813)
Later than five years | Commodities [member]
Maturity of net debt [line items]
Current financial assets		111
Later than five years | Deriviative financial instruments and accrued interest [member]
Maturity of net debt [line items]
Current financial assets	24	20
Later than five years | Financial debt [member]
Maturity of net debt [line items]
Non-current financial debts	(12,882)	(8,944)
Later than five years | Financial debt - undiscounted [member]
Maturity of net debt [line items]
Non-current financial debts	$ (13,010)	$ (9,050)

Financial instruments - addi_11

Financial instruments - additional disclosures (Details 8) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative financial instruments and accrued interest on derivative financial instruments [line items]
Potential outflows in various currencies - from financial derivative liabilities	$ (9,971)	$ (11,489)
Potential inflows in various currencies - from financial derivative assets	10,031	11,775
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	(3,421)	(4,329)
Potential inflows in various currencies - from financial derivative assets	3,443	4,311
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	(6,075)	(6,604)
Potential inflows in various currencies - from financial derivative assets	5,948	6,841
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	(475)	(556)
Potential inflows in various currencies - from financial derivative assets	$ 640	$ 623

Financial instruments - addi_12

Financial instruments - additional disclosures (Details 9) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative financial instruments and accrued interest on derivative financial instruments [line items]
Contractual interest on non-current liabilities	$ (7,070)	$ (5,070)
Lease liability	(1,803)	(1,828)
Trade payables	(4,572)	(4,926)
Contingent consideration liabilities	(808)	(403)
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	(141)	(64)
Lease liability	(65)	(65)
Trade payables	(4,432)	(4,793)
Contingent consideration liabilities	(17)
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	(442)	(372)
Lease liability	(170)	(165)
Trade payables	(140)	(133)
Contingent consideration liabilities	(264)	(14)
Between one and five years
Derivative financial instruments and accrued interest on derivative financial instruments [line items]
Contractual interest on non-current liabilities	(1,884)	(1,258)
Lease liability	(574)	(635)
Contingent consideration liabilities	(395)	(205)
Later than five years
Derivative financial instruments and accrued interest on derivative financial instruments [line items]
Contractual interest on non-current liabilities	(4,603)	(3,376)
Lease liability	(994)	(963)
Contingent consideration liabilities	$ (132)	$ (184)

Financial instruments - addi_13

Financial instruments - additional disclosures (Details 10) $ in Millions, € in Billions, ¥ in Billions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 JPY (¥)	Jun. 01, 2024 USD ($)	May 31, 2024 USD ($)	Dec. 31, 2023 EUR (€)
Disclosure of derivative financial instruments [line items]
Transfers out of Level 3 of fair value hierarchy, assets	$ (19)	$ (63)
Description of reasons for transfers out of Level 3 of fair value hierarchy, assets	During 2024, there were two transfers of equity securities from Level 3 to Level 1 for USD 19 million (2023: USD 63 million), due to the Initial Public Offering of the invested company or lift of certain restrictions.
Amount of change in OCI when most significant parameters for level 3 change more than 10%	$ 141
Amount of change in OCI when POS for level 3 change more than 10%	135
Fair value of other financial assets sold	95	279
Long-term financial debt with a carrying amount	$ 1,900	2,000	€ 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	(50)
Borrowings credit facility committed	6,000
Net loss/gain recorded on equity securities and fund investments at fair value through the consolidated income statement	91	136
Fair value of fund investments and equity securities	1,100	1,800
Net investment hedge recognized in the consolidated income statement	0	8
US commercial paper programs [member]
Disclosure of derivative financial instruments [line items]
Borrowings commercial paper maximum borrowing amount	9,000
Borrowings commercial paper amount outstanding	$ 3,500	$ 3,000
Weighted average interest rate	4.50%	5.40%
JP commercial paper programs [member]
Disclosure of derivative financial instruments [line items]
Borrowings commercial paper maximum borrowing amount	$ 1,000			¥ 150
Borrowings commercial paper amount outstanding	$ 600	$ 300
Weighted average interest rate	0.50%	0.10%
Replacement of credit facility with a syndicate of banks [member]
Disclosure of derivative financial instruments [line items]
Borrowings credit facility committed					$ 6,000	$ 6,000
Largest financial institution [member]
Counterparty risk [abstract]
Percentage of entity's cash and cash equivalents held with financial institution	9.60%	8.30%
Second largest financial institution [member]
Counterparty risk [abstract]
Percentage of entity's cash and cash equivalents held with financial institution	7.90%	7.50%
Third largest financial institution [member]
Counterparty risk [abstract]
Percentage of entity's cash and cash equivalents held with financial institution	7.70%	7.40%

Financial instruments - addi_14

Financial instruments - additional disclosures (Details 11)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of major customers [line items]
Customers with net sales over five percent	The Company’s largest, second-largest and third-largest customers account for approximately 17%, 13% and 7% of net sales from third parties from continuing operations, respectively (2023: 15%, 13% and 8%, respectively; 2022: 16%, 12% and 8%, respectively). The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 19%, 12% and 7%, respectively, of the trade receivables at December 31, 2024 (2023: 17%, 13% and 8%, respectively).
Largest customer [member]
Disclosure of major customers [line items]
Percentage of entity's revenue	17%	15%	16%
Percentage of entitys trade receivable	19%	17%
Second largest customer [member]
Disclosure of major customers [line items]
Percentage of entity's revenue	13%	13%	12%
Percentage of entitys trade receivable	12%	13%
Third largest customer [member]
Disclosure of major customers [line items]
Percentage of entity's revenue	7%	8%	8%
Percentage of entitys trade receivable	7%	8%

Financial instruments - addi_15

Financial instruments - additional disclosures (Details 12) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Equity securities	$ 506,000	$ 1,210,000
Fair value of other financial assets sold	95,000	279,000
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	$ 185,000	$ 861,000
Number of investments in equity instruments designated at fair value through other comprehensive income	16	28
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	$ 321,000	$ 349,000
Number of investments in equity instruments designated at fair value through other comprehensive income	52	61
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	$ 70,000	$ (1,000)
Sandoz
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items]
Equity securities		$ 595,000
Sandoz | 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	$ 169,000

Financial instruments - addi_16

Financial instruments - additional disclosures (Details 13) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
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	$ (8)	$ 3
Currency exchange rate sensitivity impact against USD in the equity	91	97
Hypothetical 5% decrease [member]
Statement [line items]
Currency exchange rate sensitivity impact against USD in the income statement	9	(3)
Currency exchange rate sensitivity impact against USD in the equity	$ (96)	$ (102)

Financial instruments - addi_17

Financial instruments - additional disclosures (Details 15) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
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	$ 90	$ 91
Equity price sensitivity impact of the risk factors in the equity	70	182
Hypothetical 15% decrease [member]
Statement [line items]
Equity price sensitivity impact of the risk factors in the income statement	(90)	(91)
Equity price sensitivity impact of the risk factors in the equity	$ (70)	$ (182)

Discontinued operations (Detail

Discontinued operations (Details) - USD ($) $ in Millions		12 Months Ended
	Oct. 03, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Net sales to third parties		$ 50,317	$ 44,635	$ 41,385
Sales to other segments			805	821
Net sales		50,317	45,440	42,206
Other revenue		1,405	1,220	1,255
Cost of goods sold		(12,827)	(12,472)	(11,582)
Gross profit		38,895	34,188	31,879
Selling, general and administration		(12,566)	(12,517)	(12,193)
Research and development		(10,022)	(11,371)	(9,172)
Other income		1,175	1,772	696
Other expense		(2,938)	(2,303)	(3,264)
Operating income of discontinued operations		14,544	9,769	7,946
Loss from associated companies		(38)	(13)	(11)
Interest expense		(1,006)	(855)	(800)
Other financial income and expense		140	222	42
Income before taxes from continuing operations		13,640	9,123	7,177
Income taxes		$ (1,701)	(551)	(1,128)
Net income from discontinued operations before gain on distribution			422	906
Gain on distribution of Sandoz Group AG to Novartis AG shareholders	$ 5,860		5,860
Net income from discontinued operations			$ 6,282	$ 906
Applicable tax rate from discontinued operations		12.30%	15%	15.30%
Discontinued operations [member]
Statement [line items]
Net sales to third parties			$ 7,128	$ 9,160
Sales to other segments			300	212
Net sales			7,428	9,372
Other revenue			19	28
Cost of goods sold			(4,044)	(4,937)
Gross profit			3,403	4,463
Selling, general and administration			(1,728)	(2,060)
Research and development			(671)	(824)
Other income			56	109
Other expense			(795)	(437)
Operating income of discontinued operations			265	1,251
Loss from associated companies			2	2
Interest expense			(33)	(37)
Other financial income and expense			(20)	(22)
Income before taxes from continuing operations			214	1,194
Income taxes			$ 208	$ (288)
Applicable tax rate from discontinued operations			31.20%	24.10%
Number of Franchises			2

Discontinued operations (Deta_2

Discontinued operations (Details 1) - USD ($) $ in Millions	Oct. 03, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement [line items]
Property, plant and equipment		$ 9,458	$ 9,514	$ 10,764
Right-of-use assets		1,415	1,410	1,431
Goodwill		24,756	23,341
Intangible assets other than goodwill		26,915	26,879
Deferred tax assets		4,359	4,309
Inventories		5,723	5,913
Cash and cash equivalents		11,459	13,393	$ 7,517	$ 12,407
Deferred tax liabilities		(2,419)	(2,248)
Current and non-current lease liabilities		$ (47)	$ (51)
Net assets derecognized	$ 8,647
Discontinued operations [member]
Statement [line items]
Property, plant and equipment	1,447
Right-of-use assets	133
Goodwill	7,424
Intangible assets other than goodwill	1,481
Deferred tax assets	624
Financial and other non-current assets	142
Inventories	2,565
Trade receivables and other current assets	2,935
Cash and cash equivalents	686
Deferred tax liabilities	(270)
Current and non-current lease liabilities	(139)
Current and non-current financial debt	(3,691)
Trade payables, provisions and other liabilities	$ (4,690)

Discontinued operations (Deta_3

Discontinued operations (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Interest income	$ 568	$ 627	$ 377
Equity-based compensation of Novartis equity plans	$ (1,307)	(1,142)	(982)
Discontinued operations [member]
Statement [line items]
Interest income		2	2
Equity-based compensation of Novartis equity plans		(60)	(66)
Property, plant and equipment [member] | Discontinued operations [member]
Statement [line items]
Depreciation charge		(144)	(196)
Impairment charge		(5)	(3)
Reversal of impairment loss recognised in profit or loss, property, plant and equipment		1	3
Right-of-use assets [member] | Discontinued operations [member]
Statement [line items]
Depreciation charge		(32)	(33)
Impairment loss recognised in profit or loss, right of use assets		(8)
Intangible assets other than goodwill [member] | Discontinued operations [member]
Statement [line items]
Amortization charge		(171)	(222)
Impairment charge		(44)	(25)
Restructuring provision [member] | Discontinued operations [member]
Statement [line items]
Additions to restructuring provisions		$ (27)	$ (40)

Discontinued operations (Deta_4

Discontinued operations (Details 3) - Discontinued operations [member] $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Statement [line items]
Additions to property, plant and equipment	$ 245
Additions to right-of-use assets	66
Additions to intangible assets and goodwill	$ 221

Discontinued operations (Deta_5

Discontinued operations (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement [line items]
Other financing cash flows, net	$ 86	$ 192	$ (38)
Net cash flows used in investing activities from discontinued operations		(1,123)	(436)
Net cash flows from financing activities from discontinued operations		3,286	119
Other borrowings	523
Acquisitions and divestments of businesses, net	$ (3,911)	(3,558)	(840)
Discontinued operations
Statement [line items]
Payments attributable to the spin-off of the Sandoz business		(52)
Derecognized cash and cash equivalents attributable to the spin-off of the Sandoz business		(686)
Other financing cash flows, net		(200)	0
Other cash flows used in investing activities, net		(385)	(436)
Cash inflow from borrowings		3,600
Acquisitions and divestments of businesses, net		$ (22)	$ (39)

Events subsequent to the Dece_2

Events subsequent to the December 31 consolidated balance sheet date (Details) $ in Billions	12 Months Ended
	Dec. 31, 2024 SFr / shares	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Statement [line items]
Dividends proposed | $		$ 7.6	$ 7.6
Subsequent Event [member]
Statement [line items]
Dividends proposed, cash per share | SFr / shares	SFr 3.50

Principal Group subsidiaries _3

Principal Group subsidiaries and associated companies (Details) - 12 months ended Dec. 31, 2024 ₽ in Millions, ₺ in Millions, ₱ in Millions, ₨ in Millions, ฿ in Millions, ৳ in Millions, ر.س in Millions, د.م. in Millions, د.إ in Millions, ¥ in Millions, zł in Millions, kr in Millions, kr in Millions, kr in Millions, S/ 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 Millions, $ in Millions, ₫ in Billions, ₩ in Billions, ₨ in Billions, ج.م. in Billions, Rp in Billions, $ in Billions, $ in Billions

USD ($)

ARS ($)

AUD ($)

EUR (€)

BDT (৳)

CHF (SFr)

BRL (R$)

CAD ($)

CLP ($)

HKD ($)

COP ($)

CZK (Kč)

DKK (kr)

DOP ($)

EGP (ج.م.)

HUF (Ft)

INR (₨)

IDR (Rp)

ILS (₪)

JPY (¥)

MYR (RM)

MXN ($)

MAD (د.م.)

NZD ($)

NOK (kr)

PKR (₨)

PEN (S/)

PHP (₱)

PLN (zł)

RON

RUB (₽)

SAR (ر.س)

SGD ($)

ZAR (R)

KRW (₩)

SEK (kr)

TWD ($)

THB (฿)

TRY (₺)

AED (د.إ)

GBP (£)

UYU ($)

VEF (Bs.F)

VND (₫)

Disclosure of subsidiaries [line items]

Principal group companies materiality of assets or sales to third parties

$ 25,000,000

Subsidiaries [member] | Novartis Argentina S.A., Ciudad de Buenos Aires [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Argentina S.A.

Principal place of business of subsidiary

Ciudad de 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] | Novartis Holding GmbH, Vienna [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Holding GmbH

Principal place of business of subsidiary

Vienna

Country of incorporation of subsidiary

Austria

Share/paid-in capital | €

€ 35,000,000,000

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Novartis Pharmaceutical Manufacturing GmbH, Langkampfen [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Pharmaceutical Manufacturing GmbH

Principal place of business of subsidiary

Langkampfen

Country of incorporation of subsidiary

Austria

Share/paid-in capital | €

763,070,000,000

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] | 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 | €

7,100,000

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Novartis Manufacturing NV, Puurs-Sint-Amands [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Manufacturing NV

Principal place of business of subsidiary

Puurs-Sint-Amands

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] | 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

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] | 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

Montreal, Quebec

Country of incorporation of subsidiary

Canada

Share/paid-in capital

$ 420,717

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 Pharmaceutical Technology Zhejiang Co., Ltd., Haiyan [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Pharmaceutical Technology Zhejiang Co., Ltd.

Principal place of business of subsidiary

Haiyan

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] | 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] | 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] | 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] | Novartis Caribe, S.A., Santo Domingo [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Caribe, S.A.

Principal place of business of subsidiary

Santo Domingo

Country of incorporation of subsidiary

Dominican Republic

Share/paid-in capital

$ 20

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. 2.1

Proportion of ownership interest in subsidiary

99.98%

Proportion of voting rights held in subsidiary

99.98%

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.S.

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] | 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] | Novartis Business Services GmbH, Nuremberg [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Business Services GmbH

Principal place of business of subsidiary

Nuremberg

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] | MorphoSys GmbH, Planegg [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

MorphoSys GmbH

Principal place of business of subsidiary

Planegg

Country of incorporation of subsidiary

Germany

Share/paid-in capital | €

50,000

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 | €

141,700,000

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] | 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] | 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 10.6

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, Cork City [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 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., Colleretto Giacosa [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Advanced Accelerator Applications (Italy) S.r.l.

Principal place of business of subsidiary

Colleretto Giacosa

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] | 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] | 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

$ 206.7

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] | Aduro Netherlands Cooperatief U.A., Rosmalen [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Aduro Netherlands Coöperatief U.A.

Principal place of business of subsidiary

Rosmalen

Country of incorporation of subsidiary

Netherlands

Subsidiaries [member] | Aduro Biotech Holdings Europe B.V., Rosmalen [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Aduro Biotech Holdings, Europe B.V.

Principal place of business of subsidiary

Rosmalen

Country of incorporation of subsidiary

Netherlands

Share/paid-in capital | €

46,216

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Calypso Biotech B.V., Amsterdam [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Calypso Biotech B.V.

Principal place of business of subsidiary

Amsterdam

Country of incorporation of subsidiary

Netherlands

Share/paid-in capital | €

7,252

Proportion of ownership interest in subsidiary

96.80%

Proportion of voting rights held in subsidiary

96.80%

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] | 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 Biosciences Peru S.A., Lima [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Biosciences Perú S.A.

Principal place of business of subsidiary

Lima

Country of incorporation of subsidiary

Peru

Share/paid-in capital | S/

S/ 1.4

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] | 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] | 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] | 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] | Novartis Saudi Ltd., Riyadh [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Saudi Company

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

80,000,000

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] | Novartis farmacevtska proizvodnja d.o.o., Ljubljana [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis farmacevtska proizvodnja d.o.o.

Principal place of business of subsidiary

Ljubljana

Country of incorporation of subsidiary

Slovenia

Share/paid-in capital | €

50,000,000

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] | 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., Esplugues de Llobregat [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] | 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 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

10,000,000

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 Kapital AG, Basel [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Kapital 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

100,000

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] | Novartis BidCo AG, Basel [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis BidCo 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] | Pharmanalytica SA, Locarno [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Pharmanalytica SA

Principal place of business of subsidiary

Locarno

Country of incorporation of subsidiary

Switzerland

Share/paid-in capital | SFr

240,000

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Renor AG, Basel [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Renor 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] | Calypso Biotech SA, Plan-les-Ouates [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Calypso Biotech SA

Principal place of business of subsidiary

Plan-les-Ouates

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] | 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] | 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

SFr 9,300,000

Proportion of ownership interest in subsidiary

99.23%

Proportion of voting rights held in subsidiary

99.23%

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] | 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] | 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] | 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

United States of America

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 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

United States of America

Share/paid-in capital

$ 1,000

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

United States of America

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

United States of America

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

United States of America

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

United States of America

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

United States of America

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

United States of America

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

United States of America

Subsidiaries [member] | Novartis Manufacturing LLC, East Hanover, NJ [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Manufacturing LLC

Principal place of business of subsidiary

East Hanover, NJ

Country of incorporation of subsidiary

United States of America

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

United States of America

Share/paid-in capital

$ 1

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Kate Therapeutics Inc., San Diego, CA [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Kate Therapeutics Inc.

Principal place of business of subsidiary

San Diego, CA

Country of incorporation of subsidiary

United States of America

Share/paid-in capital

$ 100

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, Inc.

Principal place of business of subsidiary

Cambridge, MA

Country of incorporation of subsidiary

United States of America

Share/paid-in capital

$ 0.1

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Constellation Pharmaceuticals, Inc., Boston, MA [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Constellation Pharmaceuticals, Inc.

Principal place of business of subsidiary

Boston, MA

Country of incorporation of subsidiary

United States of America

Share/paid-in capital

$ 50

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

United States of America

Share/paid-in capital

$ 1

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Mariana Oncology Inc., Watertown, MA [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Mariana Oncology Inc.

Principal place of business of subsidiary

Watertown, MA

Country of incorporation of subsidiary

United States of America

Share/paid-in capital

$ 1

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | MorphoSys US Inc., Boston, MA [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

MorphoSys US Inc.

Principal place of business of subsidiary

Boston, MA

Country of incorporation of subsidiary

United States of America

Share/paid-in capital

$ 50

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

United States of America

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

United States of America

Share/paid-in capital

$ 1

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Chinook Therapeutics, Inc., Seattle, WA [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Chinook Therapeutics, Inc.

Principal place of business of subsidiary

Seattle, WA

Country of incorporation of subsidiary

United States of America

Share/paid-in capital

$ 1

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Chinook Therapeutics U.S., Inc., Seattle, WA [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Chinook Therapeutics U.S., Inc.

Principal place of business of subsidiary

Seattle, WA

Country of incorporation of subsidiary

United States of America

Share/paid-in capital

$ 1

Proportion of ownership interest in subsidiary

100%

Proportion of voting rights held in subsidiary

100%

Subsidiaries [member] | Novartis Uruguay S.A., Inc., Montevideo [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Novartis Uruguay S.A.

Principal place of business of subsidiary

Montevideo

Country of incorporation of subsidiary

Uruguay

Share/paid-in capital

$ 7.3

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 | Bs.F

Bs.F 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%