1. Healthcare

Q4 and Full Year 2014 Results
Media presentation
January 27, 2015
Disclaimer
These materials contain forward-looking statements that can be identified by words such as “potential,” “expected,” “will,” “planned,” or similar terms, or by express or implied discussions
regarding potential new products, potential new indications for existing products, or regarding potential future revenues from any such products; potential shareholder returns or credit
ratings; or regarding the potential completion of the announced transactions with GSK and CSL, or regarding potential future sales or earnings of any of the businesses involved in the
announced transactions with GSK, Lilly or CSL, and regarding any potential strategic benefits, synergies or opportunities as a result of the announced transactions; or regarding potential
future sales or earnings of the Novartis Group or any of its divisions; or by discussions of strategy, plans, expectations or intentions. You should not place undue reliance on these
statements. Such forward-looking statements are based on the current beliefs and expectations of management regarding future events, and are subject to significant known and unknown
risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set
forth in the forward-looking statements. There can be no guarantee that any new products will be approved for sale in any market, or that any new indications will be approved for any
existing products in any market, or that any approvals which are obtained will be obtained at any particular time, or that any such products will achieve any particular revenue levels. Nor
can there be any guarantee that the announced transactions with GSK and CSL will be completed in the expected form or within the expected time frame or at all. Neither can there be
any guarantee that Novartis will be able to realize any of the potential strategic benefits, synergies or opportunities as a result of the transactions with GSK, Lilly or CSL. Neither can there
be any guarantee that Novartis or any of the businesses involved in the transactions will achieve any particular financial results in the future. Nor can there be any guarantee that
shareholders will achieve any particular level of shareholder returns. Neither can there be any guarantee that the Novartis Group, or any of its divisions, will be commercially successful in
the future, or achieve any particular credit rating. In particular, management's expectations could be affected by, among other things, unexpected regulatory actions or delays or
government regulation generally, including an unexpected failure to obtain necessary government approvals for the transactions, or unexpected delays in obtaining such approvals; the
potential that the strategic benefits, synergies or opportunities expected from the announced transactions, including the divestment of our former Animal Health Division to Lilly, may not
be realized or may take longer to realize than expected; the inherent uncertainties involved in predicting shareholder returns or credit ratings; the uncertainties inherent in research and
development, including unexpected clinical trial results and additional analysis of existing clinical data; the Company’s ability to obtain or maintain proprietary intellectual property
protection, including the ultimate extent of the impact on the Company of the loss of patent protection and exclusivity on key products which commenced in prior years and will continue
this year; unexpected manufacturing or quality issues; global trends toward health care cost containment, including ongoing pricing pressures; uncertainties regarding actual or potential
legal proceedings, including, among others, actual or potential product liability litigation, litigation and investigations regarding sales and marketing practices, government investigations
and intellectual property disputes; general economic and industry conditions, including uncertainties regarding the effects of the persistently weak economic and financial environment in
many countries; uncertainties regarding future global exchange rates, including as a result of recent changes in monetary policy by the Swiss National Bank and the European Central
Bank; uncertainties regarding future demand for our products; uncertainties involved in the development of new healthcare products; uncertainties regarding potential significant breaches
of data security or disruptions of the Company’s information technology systems; and other risks and factors referred to in Novartis AG's current Form 20-F on file with the US Securities
and Exchange Commission. Novartis is providing the information in these materials as of this date and does not undertake any obligation to update any forward-looking statements as a
result of new information, future events or otherwise.
2
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Agenda
Group overview
Joseph Jimenez
Chief Executive Officer
Financial review
Harry Kirsch
Chief Financial Officer
Pharmaceuticals
David Epstein
Division Head, Novartis Pharmaceuticals
Closing
Joseph Jimenez
Chief Executive Officer
Q&A session
3
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Solid sales growth, margin expansion and major innovation in 2014
 Sales up +3% in cc vs. PY, core margin +1.2ppts in cc vs. PY and FCF up +12% in USD1
 Dividend of CHF 2.60 per share proposed (up 6% in CHF)
 Strong progress on innovation
• LCZ696 file submitted in EU and US
• Zykadia™ approved in US for non small cell lung cancer
• Cosentyx™ approved in EU, US and Japan for psoriasis2
 Portfolio transformation on track; Novartis Animal Health divestment closed on Jan 1st
1
2
4
2014 Group growth rates are based on 2013 data excluding the divested blood transfusion diagnostics unit. This measure, as well as constant currencies (cc), core results, and free cash flow are non-IFRS measures.
An explanation of these non-IFRS measures and reconciliation tables can be found beginning on page 54 of the Condensed Financial Report
CosentyxTM EU and US approval received in January 2015
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Summary of 2014 financial results
FY
(in USD m)
2014
Net Sales
57 996
1
3
Core Operating Income
14 616
3
8
Operating Income
10 736
1
7
Net Income
10 280
12
19
Core EPS (USD)
5.23
4
10
EPS (USD)
4.21
14
20
10 762
12
Free Cash Flow
1
5
Change vs. PY1
% USD
% cc
2014 Group growth rates are based on 2013 data excluding the divested blood transfusion diagnostics unit. This measure, as well as constant currencies (cc), core results, and free cash flow are non-IFRS measures.
An explanation of these non-IFRS measures and reconciliation tables can be found beginning on page 54 of the Condensed Financial Report
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
2014 focus
Strengthened innovation
Operational
excellence
Delivered strong financial results
Continued focus on quality
Transforming the portfolio1
Transforming
the company
Capturing cross-divisional synergies
Reshaping the culture of the company
1
6
All uncompleted transactions are subject to closing conditions
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
We have seen a series of important innovations
and regulatory approvals in the last year
1
2
7
Operational excellence
Strengthened innovation
Approval
US
LCZ696 Ph III in chronic
heart failure, file
submitted EU and US
Cosentyx™ approved
in EU, US and Japan
for psoriasis1
QVA149 and NVA237
met primary Ph III
endpoints, file
submitted US
CTL019 FDA
Breakthrough Therapy
designation
FDA granted
accelerated approval
for Meningitis B2
Recommended for
approval by FDA
Advisory Committee,
all indications3
Positive CHMP
recommendation for
polycythemia vera4
CosentyxTM EU and US approval received in January 2015
Bexsero® FDA accelerated approval received in January 2015
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
3
4
Filgrastim recommended for approval by FDA Advisory Committee in January 2015
Jakavi® recommended for approval by CHMP in January 2015
Operational excellence
Delivered financial results
Growth in sales and core operating income across all divisions
Net sales 2014
% Change vs. PY
(in USD m)
(in cc)
Pharmaceuticals
31 791
Alcon
10 827
Sandoz
Consumer
Health
Vaccines1
1
2
8
9 562
4 279
1 537
Net sales
Core Operating Income
+1%
+4%
+6%
+8%
+7%
+7%
+8%
+72%2
+10%
+5%2
Vaccines growth rates are based on 2013 data excluding the divested blood transfusion diagnostics unit. Vaccines results exclude certain intellectual property rights and related other revenues which will be retained by
Novartis and are now reported under Corporate activities, with 2013 reported results being restated for this impact. See page 54 of the Condensed Interim Financial Report
Includes cessation of depreciation since portfolio transformation announcement date of +13% pts for Consumer Health and +31% pts for Vaccines. Lower loss in Vaccines for 2014
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Operational excellence
Delivered financial results
Two factors continue to drive our growth
Growth Products
+18%
Emerging Growth Markets
1
+11%
growth to 32%
of Group sales
1
9
Emerging Growth Markets 2014 vs. PY (% cc). Group growth rates based on 2013 data excluding the divested blood transfusion diagnostics unit. See page 83 of the Condensed Interim Financial Report
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Transforming the company
Portfolio transformation
Novartis portfolio transformation is progressing on track
Milestones1
9 Jan 2014
22 Apr
1 Jul
Closed divestiture
of blood
transfusions
diagnostics
business
Announced agreements to:
 Acquire GSK oncology
Established
Novartis
Business
Services
products
 Create Consumer Health
JV with GSK
 Divest Novartis Vaccines
(excl. flu)
 Divest Novartis Animal
Health to Eli Lilly
1
All uncompleted transactions are subject to closing conditions
10
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
26 Oct
1 Jan 2015
Announced
Closed
agreement to
divestiture of
divest flu
animal health
business to CSL
business
Transforming the company
We created Novartis Business Services to deliver
high-quality services to the divisions at lower costs
Cross-divisional opportunities
Key 2014 activities
New cross-divisional organization structure in place
Costs under NBS responsibility were flat in 2014, at 2013 levels
Additional synergies e.g., through Customers First
11
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Version
20 Jan 15 - 16.00
Agenda
Group overview
Joseph Jimenez
Chief Executive Officer
Financial review
Harry Kirsch
Chief Financial Officer
Pharmaceuticals
David Epstein
Division Head, Novartis Pharmaceuticals
Closing
Joseph Jimenez
Chief Executive Officer
Q&A session
12
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Performance delivered as per upgraded guidance
2014 Full Year Guidance1
(all in cc)
FY 2014
(growth vs. PY2 in % cc)
Group sales are expected to grow at a low to mid-single digit rate
+3%

Group core operating income is expected to grow ahead of
sales (cc) in 2014, at a mid to high-single digit rate (cc)
+8%

Pharmaceuticals sales growth in line with 2013
+1%
Alcon sales growth mid to high-single digit
+6%
Sandoz sales growth mid to high-single digit
+7%



Net Sales Growth:
1
2
Issued in Q2 2014, reconfirmed in Q3 2014
2014 Group growth rates are based on 2013 data excluding the divested blood transfusion diagnostics unit. This measure, as well as constant currencies (cc), core results, and free cash flow are non-IFRS measures. An
explanation of these non-IFRS measures and reconciliation tables can be found beginning of page 54 of the Condensed Financial Report
13
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
All divisions contributed to FY Group core margin improvement
of 1.2% points
FY 2014 vs. PY
Net
sales
(in % cc)
Core operating
income
(in % cc)
Pharmaceuticals
1
4
29.9
1.1
Alcon
6
8
35.2
0.6
Sandoz
7
7
16.4
0.1
Consumer Health
8
72
10.6
4.33
10
5
nm
nm3
3
8
25.2
1.23
Vaccines1,2
Group1
1
2
3
Core ROS
(%)
Core margin
change in cc
(% pts)
2014 Group and Vaccines growth rates are based on 2013 data excluding the divested blood transfusion diagnostics unit. This measure, as well as constant currencies (cc), core results, and free cash flow are non-IFRS
measures. An explanation of these non-IFRS measures and reconciliation tables can be found beginning of page 54 of the Condensed Financial Report
Vaccines results exclude certain intellectual property rights & related other revenues which will be retained by Novartis and now reported under Corporate activities, with 2013 reported results being restated for this impact
Includes cessation of depreciation since portfolio transformation announcement date of +0.9% pts for Consumer Health, +6.1% pts for Vaccines, and +0.2% pts for total Group
14
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
FY Free Cash Flow of USD 10.8 bn, USD 1.2 bn higher than 2013
FY Free Cash Flow
(in USD bn)
+1.2
1
10.8
9.6
3.1
FY 2013
1
2
4.4
Q4
9M
Key reasons for variance vs. PY:

Higher operating income2 (net of negative FX)

Hedging gains

Higher investments in intangible assets
FY 2014
2014 Group growth rates are based on 2013 data excluding the divested blood transfusion diagnostics unit. This measure, as well as constant currencies (cc), core results, and free cash flow are non-IFRS measures.
An explanation of these non-IFRS measures and reconciliation tables can be found beginning of page 54 of the Condensed Financial Report
Operating income after adjusting for non-cash items
15
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Increasing negative currency impact in Q4 due to weakening of Euro,
Yen, Ruble and key Emerging Market currencies
Currency impact vs. PY
(in % points)
Net sales
Core operating income
0
-2
-1
-2
-3
-6
-7
-8
-8
-3
-6
-8
-4
-12
Q4
2013
Q1
Q2
Q3
2014
Q4
FY
Q4
20151
2013
FY impact: -2%
Q1
Q2
Q3
2014
Q4
FY
20151
FY impact: -5%
Jan 8, 2015 rate prevailing
1
Continuing Operations impact only, assuming the stated FX rates prevail for the remainder of 2015
16
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Jan 16, 2015 rate prevailing
Outlook for continuing operations in 2015 versus continuing
operations in 2014
Barring unforeseen events
 Continuing operations1 net sales expected to grow mid-single digit (cc)2:
• Pharmaceuticals: mid-single digit growth (cc)
• Alcon: mid to high-single digit growth (cc)
• Sandoz: mid-single digit growth (cc)
 Continuing operations1 core operating income expected to grow ahead of sales at a
high-single digit rate (cc)2
 Outlook based on a modelling assumption that the transaction with GSK will close on
March 31, 2015, and that the transaction with CSL will close on December 31, 20153
1
2
3
Continuing operations includes Pharmaceuticals, Alcon, Sandoz, Corporate, the to be acquired Oncology assets from GSK and contribution from the OTC Joint Venture (contribution in income from associated
companies). The results from the oncology assets from GSK and the OTC Joint Venture are only included as of the date of closing
Pro-forma growth, assuming continuing operations in 2014 and 2015
Assumption for modelling purposes only. Novartis continues to expect the GSK transactions to be completed in the first-half of 2015 and the transaction with CSL to be completed in the second-half of 2015
17 | Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Improvement in core margin expected despite FX headwind in 2015
Illustrative
2015 core ROS1
Continuing operations (cc)
2
3
2014 reported core ROS1
Continuing operations
27.7%
1
Portfolio
transformation
Outlook
Sales: mid-single digit
(cc) growth
Core operating
income: high-single
digit (cc) growth
2014 reported core ROS1
Total Group
25.2%
1
2
Core return on sales
Assuming Jan 16, 2015 rates prevail for the remainder of 2015
18
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
FX impact on sales2: -7%
FX impact on core operating income2: -12%
2015 core ROS1
Continuing operations
(USD2)
Improvement between reported Total Group 2014
core margin and 2015 continuing operations core
margin, despite FX impact
18th consecutive dividend growth proposed1
(payout ratio of 71%2 in 2014)
3.50
2.00
CHF
USD
2.60
2.963
2.50
2.45
2.76
3.00
1.50
1.00
Proposed1 dividend growth
2014 vs. 2013:
6% in CHF, 7% in USD
0.50
0.00
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
1
2
3
Proposal to shareholders at the 2015 Annual General Meeting, taking place on February 27, 2015
Payout ratio is calculated by converting into USD the proposed total gross dividend amount in CHF at the CHF-USD exchange rate of January 21, 2015 based on an estimated number of shares outstanding on dividend
payment date and dividing it by the USD consolidated net income attributable to shareholders of Novartis AG in the 2014 Novartis Group consolidated financial statements effective December 31, 2014
Dividend per share in USD is calculated by converting into USD the proposed dividend per share in CHF at the CHF-USD exchange rate of January 21, 2015 (1 CHF=USD 1.14)
19
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Agenda
Group overview
Joseph Jimenez
Chief Executive Officer
Financial review
Harry Kirsch
Chief Financial Officer
Pharmaceuticals
David Epstein
Division Head, Novartis Pharmaceuticals
Closing
Joseph Jimenez
Chief Executive Officer
Q&A session
20
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Pharmaceuticals delivered sales growth with margin expansion
Change vs. PY
(in USD m)
FY 2014
FY 2013
Net Sales
31 791
32 214
-1
+1
Core Operating Income
9 514
9 523
0
+4
Operating Income
8 471
9 376
-10
-5
Core Operating Income margin
29.9%
29.6%
Operating Income margin
26.6%
29.1%
Free Cash Flow
7 918
8 332
21
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
% USD
-5
% cc
Growth products1 now represent 43% of total division sales
Growth products net sales
(in USD bn)
+17% cc
13.7
12.0
FY 2013
FY 2014
% of total division sales
37%
1
43%
Growth products comprise products launched in 2009 or later, or products with exclusivity until at least 2018 in key markets (EU, US, Japan)
22
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Emerging Growth Markets1: accelerated growth to double-digit
and now contributing 26% of Pharmaceuticals sales
Pharmaceuticals Division net sales
(in %)
Emerging Growth Markets rates
(in % cc)
26%
74%
Emerging
Growth Markets
1
Established Markets
2012
6%
2013
9%
2014
11%
2015
Growth likely to be lower
Emerging Growth Markets comprise of all markets other than the Established Markets of the US, Canada, Western Europe, Japan, Australia and New Zealand
23
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Unparalleled growth platform1 with exclusivity until 2018 and
beyond
FY 2014
Net sales
USD m
Indication
 Multiple sclerosis
2 477
30%
2 441
5%
1 575
22%
 Chronic myeloid leukemia
1 529
24%
 Diabetes mellitus, Type 2
1 224
 Wet age-related macular degeneration, Diabetic macular
edema, Retinal vein occlusion, mCNV
 Metastatic renal cell carcinoma, TSC SEGA, pNET,
HR+/HER2-advanced breast cancer
 Severe allergic asthma and chronic spontaneous
1
2
 Chronic obstructive pulmonary disease
484
 Myelofibrosis
279
Key products for growth of Pharmaceuticals Division
Impacted by Galvus in Germany, where distribution was stopped July 1, 2014. Excluding Germany, FY growth vs. PY is +15%
24
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
6% 2
777
urticaria
3
FY 2014
Growth vs. PY
% cc
3
4
30%
4
93%
72%
Onbrez® Breezhaler® approved as Arcapta® Neohaler® in the US
Net sales and growth of Onbrez®, Seebri® and Ultibro®
4
Cosentyx™ (secukinumab) showed superiority to Stelara®
in head-to-head CLEAR study (Psoriasis)
Psoriasis sales and growth1
 CosentyxTM (formerly AIN457) showed superiority to
(in USD m)
5 896
6 000
+22%
Enbrel ®
4 960
CAGR (09-14)
5 000
Humira ®
4 149
4 000
Remicade ®
3 459
2 862
3 000
Stelara ®
2 209
Ciclosporin
2 000
Methotrexate
1 000
Acitretin
0
2009
2010
2011
2012
2013
MAT
Oct'14
Etretinate
Stelara® in the CLEAR study (PASI 90 at week 16)2
 1st approved anti-IL17A (approved as 1st line
systemic therapy in EU)
• Japan - first approval in Dec
• EU and US - approval in Jan
 Cosentyx is highly differentiated in the market place
• Superior efficacy vs. Stelara® and Enbrel®3
• Sustainability of response
• Favorable safety profile
• Monthly maintenance regimen
Note: Stelara® and Remicade® are registered trademarks of Janssen Biotech, Inc., Enbrel ® is a registered trademark of Amgen Inc., Humira® is a registered trademark of AbbVie Ltd.
PASI90 = 90% reduction in Psoriasis Area Severity Index from baseline
1 Sales from US, Japan, Top-5 EU. Source: IMS PADDS Monthly, Oct ’14. Compound Annual Growth Rate (CAGR) ‘09-’14
2 Novartis, Data on file
3 Langley RG, Elewski BE, Lebwohl M, et al. NEJM 2014. Jul 9;371(4):326-38
25
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Cosentyx™: Novartis is working to be the 1st company
to launch an anti-IL17A with three indications in label
FUTURE 2 (PsA) - Rapid and Significantly Improved ACR20 Responses
60
54.0%
51.0%
% Responders
(ACR 20)
50
40
30
• Efficacy in both anti-TNF-naive and anti-TNF-IR groups
29.3%
20
• PsA: >50% ACR 20 responders at week 24
15.3%
10
0
0 1 2 3 4
8
12
16
20
Secu 300 mg
Secu 75 mg
• AS: unprecedented sustained efficacy; at week 52,
>75% of patients achieved ASAS 20, >60% achieved
ASAS 40 (secondary endpoint)
24
Weeks
Secu 150 mg
Placebo
MEASURE 1 (AS) - Sustained ASAS 20 Response Through Week 52
 Cosentyx™ will compete in three high growth segments2
100
Primary
Endpoint
% Responders
(ASAS 20)
80
76.7%
71.3%
60.8%
60
40
0
0
4
8
12
16
20
24
28
32
36
40
44
Secu 10 mg/kg i.v.  150 mg s.c.
Secu 10 mg/kg i.v.  75 mg s.c.
48 52
Weeks
Placebo
Note: Secu= Secukinumab; i.v. = intravenous; s.c. = sub-cutaneous
26
• Psoriasis
USD 6bn (+22%)2
• Psoriatic Arthritis (PsA)
USD 3bn (+22%)2
• Ankylosing Spondylitis (AS) USD 2bn (+23%)2
28.7%
20
 4 landmark PsA/AS PhIII studies presented at ACR 20141
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
PsA = Psoriatic Arthritis. AS = Ankylosing spondylitis. TNF = Tumor Necrosis factor. ACR20 = reduction by 20% in American
College of Rheumatology response criteria, ASAS 20/40 = 20%/40% improvement in the Assessment of Spondyloarthritis
International Society criterion
1 American College of Rheumatology (November 2014)
2 Sales MAT Oct. 2014 from US and Top-5 EU. Psoriasis includes Japan as well. Source: IMS PADDS Monthly, Oct ‘14.
CAGR (‘09-’14)
LCZ696: Additional clinical data; accelerated regulatory reviews
PARADIGM-HF cause of death data1
25
% of patients
20
-16%
p<0.001
-20%
-20%
-21%
p<0.001
p=0.008
p=0.034
Enalapril
15
10
19.8
17.0
0
16.5
7.4 6.0
All causes
CV causes
Sudden
Death
4.4 3.5
Pump
Failure
Novartis Data on File. Presented at AHA by J. McMurray Nov. 17, 2014
Packer et al. Circulation 2014; epub ahead of print: DOI: 10.1161 / CIRCULATION AHA.114.013748
27
 New data shows LCZ696 has potential to reduce
the risk of clinical progression of heart failure1,2
 Patients in LCZ696 group were less likely to2 :
• Require hospitalization for a cardiovascular
13.3
2
 EMA and Swissmedic granted Accelerated Review
LCZ696
5
1
 Submission in EU and US completed
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
reason (12%) or for any reason (12%)
• Require an emergency room visit for heart
failure (34%)
• Require intensive care (13%)
Currently expected Pharmaceuticals newsflow highlights
H1 2015
H2 2015
28



Cosentyx™
EU approval in psoriasis
Cosentyx™
FDA action in psoriasis
Jakavi®
CHMP opinion in polycythemia vera
Exjade®
FDA action in new formulation film coated tablets
CosentyxTM
Regulatory filings in US and EU for ankylosing spondylitis and psoriatic arthritis
Zykadia™
CHMP opinion in ALK+ NSCLC
BKM120
US, EU & Japan submission in mBC ER+: combo with Fulvestrant, mTOR naive
LDE225
FDA action in advanced basal cell carcinoma
LDE225
CHMP opinion in advanced basal cell carcinoma
LCZ696
FDA action in chronic heart failure with reduced ejection fraction
LCZ696
CHMP opinion in chronic heart failure with reduced ejection fraction
QVA149/NVA237
FDA action in chronic obstructive pulmonary disease (COPD)
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Agenda
Group overview
Joseph Jimenez
Chief Executive Officer
Financial review
Harry Kirsch
Chief Financial Officer
Pharmaceuticals
David Epstein
Division Head, Novartis Pharmaceuticals
Closing
Joseph Jimenez
Chief Executive Officer
Q&A session
29
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
We are delivering against our priorities
 Strong 2014 financial results
 Strong innovation news adding to momentum
 Progress on portfolio transformation and NBS
30
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Our priorities in 2015 are expected to continue to
position us for future success
2015 priorities
31
1
2
3
4
5
Strong financial
results and
discipline
Strengthen
innovation
Complete
the portfolio
transformation
Capture
cross-divisional
synergies
Build a
high-performing
organization
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Agenda
Group overview
Joseph Jimenez
Chief Executive Officer
Financial review
Harry Kirsch
Chief Financial Officer
Pharmaceuticals
David Epstein
Division Head, Novartis Pharmaceuticals
Closing
Joseph Jimenez
Chief Executive Officer
Q&A session
32
| Novartis Q4 and FY 2014 Results | January 27, 2015 | Novartis Media Presentation
Q&A