The 4 drugs tracked here made $23.6B of Novartis’ 2025 revenue (43%) and lose US exclusivity by 2031. Since 2023, Novartis has closed 7 acquisitions of $1B or more, worth $23.6B in total.
Bars are each drug's 2025 sales as a share of Novartis’ total revenue ($54.5B). Only drugs tracked here are counted, so full exposure can be higher. Tap a bar for the drug's page.
| Closed | Company bought | Value | Area | What it brought | At closing |
|---|---|---|---|---|---|
| Aug 2023 | Chinook TherapeuticsNovartis, June 2023 · Novartis, August 2023 | $3.2B | Other | Atrasentan and zigakibart, two Phase 3 drugs for IgA nephropathy, a kidney diseasePlus a CVR worth up to $0.3B. | Pipeline only |
| May 2024 | Mariana OncologyNovartis, May 2024 | $1.0B | Oncology | Early radioligand cancer therapies, led by MC-339 for small cell lung cancerUpfront payment; up to $0.75B more in milestones. | Pipeline only |
| May 2024 | MorphoSysNovartis, February 2024 · Novartis, May 2024 | $2.9B | Oncology | Pelabresib, a late-stage drug for myelofibrosis, and tulmimetostatAnnounced as €2.7B; converted at the February 2024 exchange rate. | Pipeline only |
| Oct 2025 | Tourmaline BioNovartis, October 2025 · Novartis Q2 2026 report | $1.4B | Cardiometabolic | Pacibekitug, an IL-6 antibody in development for atherosclerotic cardiovascular disease | Pipeline only |
| Feb 2026 | Avidity BiosciencesNovartis, October 2025 · Novartis, February 2026 | $12.0B | Neuroscience | Late-stage RNA drugs for neuromuscular diseases, including myotonic dystrophy | Pipeline only |
| May 2026 | Pikavation TherapeuticsNovartis, March 2026 | $2.0B | Oncology | SNV4818, a PI3Kα inhibitor in early trials for breast cancerUpfront payment; up to $1.0B more in milestones. | Pipeline only |
| Jul 2026 | Myricx BioNovartis, 2026 · Novartis Q2 2026 report | $1.1B | Oncology | Early antibody-drug conjugates with a new type of payloadUpfront payment; up to $0.4B more in milestones. | Pipeline only |
| 7 counted | $23.6B | ||||
Acquisitions of whole companies closed since January 2023 with a headline price of $1B or more. Values are the price Novartis announced, excluding milestone payments unless noted. Licensing deals are not included. Compare all 65 deals →
| Area | At risk by 2037 | Acquisitions since 2023 |
|---|---|---|
| Neuroscience | $4.4B | $12.0B |
| Oncology | $4.8B | $7.0B |
| Cardiometabolic | $7.7B | $1.4B |
| Immunology | $6.7B | – |
| Other | – | $3.2B |
Novartis has the most revenue at risk in cardiometabolic, but has spent the most on acquisitions in neuroscience. At risk is 2025 sales of tracked drugs losing US exclusivity by 2037; acquisitions are the headline value of counted deals closed since 2023.
The two figures measure different things. Revenue at risk is what the drugs earned in 2025. A deal's value is what Novartis paid, not the sales it will bring in. None of the companies it bought had an approved product at closing, so any sales from them are years away and may never arrive. So this page shows the figures side by side rather than claiming how much of the gap the deals fill.
Revenue: Novartis FY2025. Drug sales and dates are sourced on each drug's page; each deal links to Novartis’ announcement or filing in the table above.
See all 45 drugs on the patent cliff →