Novartis: Lo peor está por venir...

Summary 

• _In spite of underperforming its peers and the STOXX Europe Index since the beginning of 2017, I don’t think the worst is behind Novartis. 
• _Recent newsflow has furthered strengthened my doubts about Novartis's future, in particular its Pharmaceuticals division. 
•  _A sum-of-the-parts valuation demonstrates that the market is fully appreciating the quality of Novartis's innovative Pharmaceutical division. 

In spite of underperforming its peers and the STOXX Europe Index since the beginning of 2017, I don’t think the worst is yet behind Novartis . 

I have already discussed in my previous articles why I’m cautious about the uptake of Entresto and why I believe there are some risks related to the long-term street estimates for Cosentyx in psoriasis.

Ver: 
Entre tanto...Entresto "golpea" a Novartis por malos resultados.

Nevertheless, recent newsflow has furthered strengthened my doubts about the future of Novartis's Pharmaceuticals division. (Más)