BASEL, September 2, 2026, 10:30 CEST
- Novartis was last seen at CHF130.12 as of 10:13 CEST, up 5.6% from the previous session’s close on Monday.
- Both Phase III studies achieved their relapse-rate primary endpoint when compared to teriflunomide.
- Kesimpta posted $2.588 billion in sales during the first half; Bank of America projects peak multiple sclerosis sales for remibrutinib at $3 billion.
- Comprehensive trial results will be released in Toronto from October 21–23, ahead of planned worldwide submissions.
Novartis AG SWX:NOVN maintained the majority of its gains from Tuesday’s drug-data surge through Wednesday. Shares were at CHF130.12 as of 10:13 CEST, holding 5.6% above the closing level seen on Monday Yahoo Finance.
The development provides Novartis’ multiple-sclerosis portfolio with a second growth avenue. Remibrutinib introduces an oral alternative, complementing the rapidly expanding Kesimpta.
Analysts at Bank of America predict peak MS sales of $3 billion. This figure represents 58% of Kesimpta’s sales for the first half when annualized simply. The projection does not reflect company guidance Dow Jones.
Novartis shares: five-session path
Swiss close, CHF; September 2 is intraday.
As of . Source: Yahoo Finance.
The stock ended Tuesday up 6.2%, marking its largest single-day move in several months. Early trading on Wednesday saw a minor retreat of 0.6%. The initial response persisted.
REMODEL-1 and REMODEL-2 included approximately 2,000 adult participants. Individuals were treated with either 100 mg of remibrutinib or teriflunomide. Both studies achieved the annualized relapse rate primary endpoint Novartis 6-K.
Novartis observed a reduction in inflammatory brain lesions and found no liver safety concerns or Hy’s Law cases. Detailed efficacy and safety data have not yet been released.
The MS revenue bridge
Reported sales sit beside one external peak-sales estimate.
Sources: Novartis Q2 2026 report; Dow Jones. The $3 billion figure is an analyst estimate.
Kesimpta recorded first-half sales of $2.588 billion, representing a 31% increase. Second-quarter revenue totalled $1.424 billion. The drug has been administered to over 216,000 patients since its introduction Novartis Q2 report.
Remibrutinib, marketed as Rhapsido for chronic spontaneous urticaria, recorded $101 million in sales in the first half. Approval for MS would open access to a significantly larger market.
Novartis’ chief medical officer, Shreeram Aradhye, described the profile as “differentiated.” The company intends to file globally following the presentation of the full results Novartis.
The competitive trial presents more difficulty than the topline comparator. Sanofi SA EPA:SAN markets teriflunomide under the brand Aubagio. Roche Holding AG SWX:ROG is working on developing the oral BTK inhibitor fenebrutinib.
Analyst stance before the trial readout
Ten ADR recommendations recorded through August 27, 2026.
Source: Financial Times market data. Ratings and targets predate the Phase III announcement.
Analysts showed caution in the pre-readout split, with four out of ten issuing hold ratings. The median ADR price target was $140.50, which is 12.9% under Tuesday’s closing price of $161.25 Financial Times.
The responsibility now lies with the full data. According to JPMorgan analysts, numerical outcomes are necessary for an accurate comparison with fenebrutinib. Novartis is set to reveal these results at MSToronto2026, taking place October 21–23 conference website.
Risks: Topline data may mask gaps in efficacy or rare safety issues. Regulators might require further data. Launching could also eat into Kesimpta sales ahead of wider franchise growth.
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