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Segmentation of key figures | 12 Months Ended
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Dec. 31, 2020
Disclosure of operating segments [abstract] |
Segmentation of key figures | 3. Segmentation of key figures 2020, 2019 and 2018 The businesses of Novartis are divided operationally on a worldwide basis into two identified reporting segments: Innovative Medicines and Sandoz. In addition, we separately report Corporate activities. Reporting segments are presented in a manner consistent with the internal reporting to the chief operating decision-maker, which is the Executive Committee of Novartis. The reporting segments are managed separately because they each research, develop, manufacture, distribute and sell distinct products that require differing marketing strategies. The Executive Committee of Novartis is responsible for allocating resources and assessing the performance of the reporting segments. The reporting segments are as follows: Innovative Medicines researches, develops, manufactures, distributes and sells patented prescription medicines. The Innovative Medicines Division is organized into two global business units: Novartis Oncology and Novartis Pharmaceuticals. Novartis Oncology consists of the global business franchise Oncology, and Novartis Pharmaceuticals consists of the global business franchises Immunology, Hepatology and Dermatology; Ophthalmology; Neuroscience; Cardiovascular, Renal and Metabolism; Respiratory; and Established Medicines. Sandoz develops, manufactures and markets finished dosage form medicines as well as intermediary products including active pharmaceutical ingredients. Sandoz is organized globally into three franchises: Retail Generics, Anti-Infectives and Biopharmaceuticals. In Retail Generics, Sandoz develops, manufactures and markets active ingredients and finished dosage forms of small molecule pharmaceuticals to third parties across a broad range of therapeutic areas, as well as finished dosage form of anti-infectives sold to third parties. In Anti-Infectives, Sandoz manufactures and supplies active pharmaceutical ingredients and intermediates, mainly antibiotics, for internal use by Retail Generics and for sale to third-party customers. In Biopharmaceuticals, Sandoz develops, manufactures and markets protein- or other biotechnology-based products, including biosimilars, and provides biotechnology manufacturing services to other companies. Income and expenses relating to Corporate include the costs of the Group headquarters and those of corporate coordination functions in major countries. In addition, Corporate includes other items of income and expense that are not attributable to specific segments, such as certain revenues from intellectual property rights, certain expenses related to post-employment benefits, environmental remediation liabilities, charitable activities, donations and sponsorships. Usually, no allocation of Corporate items is made to the segments. As a result, Corporate assets and liabilities principally consist of net liquidity (cash and cash equivalents, marketable securities less financial debts), investments in associated companies, and current and deferred taxes and non-segment-specific environmental remediation and post-employment benefit liabilities. Our divisions are supported by the Novartis Institutes for BioMedical Research, Global Drug Development, Novartis Technical Operations and Novartis Business Services organizations. • The Novartis Institutes for BioMedical Research (NIBR) conducts research activities for the Innovative Medicines Division and also collaborates with Sandoz. • The Global Drug Development organization oversees all drug development activities for our Innovative Medicines Division and collaborates with our Sandoz Division on the development of its biosimilars portfolio. • The Novartis Technical Operations organization manages our manufacturing operations across our Innovative Medicines and Sandoz Divisions. • Novartis Business Services (NBS) is our shared services organization that delivers business support services across the Group, such as information technology, real estate and facility services, procurement, product lifecycle services, human resources, and financial reporting and accounting operations. Following the February 28, 2019, shareholders’ approval of the spin-off of the Alcon business (refer to Notes 1, 2 and 30 for further details), the Group reported its consolidated financial statements as “continuing operations” and “discontinued operations.” Continuing operations comprise the activities of the Innovative Medicines and Sandoz Divisions, and the continuing Corporate activities. Discontinued operations include the operational results from the Alcon eye care devices business and certain corporate activities attributable to the Alcon business prior to the spin-off, the gain on distribution of Alcon Inc. to Novartis AG shareholders, and certain other expenses related to the Distribution (refer to Notes 1, 2 and 30 for further details). The accounting policies mentioned in Note 1 are used in the reporting of segment results. Inter-segmental sales are made at amounts that are considered to approximate arm’s length transactions. The Executive Committee of Novartis evaluates segmental performance and allocates resources among the segments based on a number of measures, including net sales, operating income and net operating assets. Segment net operating assets consist primarily of property, plant and equipment; right-of-use assets; intangible assets; goodwill; inventories; and trade and other operating receivables less operating liabilities. Segmentation – consolidated income statements
|  | Innovative Medicines |  | Sandoz |  | Corporate (including eliminations) |  | Group |
(USD millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
Net sales to third parties from continuing operations |  | 39 013 |  | 37 714 |  | 9 646 |  | 9 731 |  |  |  |  |  | 48 659 |  | 47 445 |
Sales to continuing and discontinued segments |  | 792 |  | 783 |  | 189 |  | 141 |  | – 981 |  | – 871 |  |  |  | 53 |
Net sales from continuing operations |  | 39 805 |  | 38 497 |  | 9 835 |  | 9 872 |  | – 981 |  | – 871 |  | 48 659 |  | 47 498 |
Other revenues |  | 1 018 |  | 1 092 |  | 53 |  | 63 |  | 168 |  | 24 |  | 1 239 |  | 1 179 |
Cost of goods sold |  | – 10 927 |  | – 10 050 |  | – 5 252 |  | – 5 334 |  | 1 058 |  | 959 |  | – 15 121 |  | – 14 425 |
Gross profit from continuing operations |  | 29 896 |  | 29 539 |  | 4 636 |  | 4 601 |  | 245 |  | 112 |  | 34 777 |  | 34 252 |
Selling, general and administration |  | – 11 657 |  | – 11 617 |  | – 2 076 |  | – 2 218 |  | – 464 |  | – 534 |  | – 14 197 |  | – 14 369 |
Research and development |  | – 8 118 |  | – 8 152 |  | – 862 |  | – 1 250 |  |  |  |  |  | – 8 980 |  | – 9 402 |
Other income |  | 922 |  | 1 586 |  | 176 |  | 167 |  | 644 |  | 278 |  | 1 742 |  | 2 031 |
Other expense |  | – 1 871 |  | – 2 069 |  | – 831 |  | – 749 |  | – 488 |  | – 608 |  | – 3 190 |  | – 3 426 |
Operating income from continuing operations |  | 9 172 |  | 9 287 |  | 1 043 |  | 551 |  | – 63 |  | – 752 |  | 10 152 |  | 9 086 |
Income from associated companies |  | 1 |  | 1 |  | 2 |  | 2 |  | 670 |  | 656 |  | 673 |  | 659 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | – 869 |  | – 850 |
Other financial income and expense |  |  |  |  |  |  |  |  |  |  |  |  |  | – 78 |  | 45 |
Income before taxes from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 9 878 |  | 8 940 |
Taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | – 1 807 |  | – 1 793 |
Net income from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 071 |  | 7 147 |
Net loss from discontinued operations before gain on distribution of Alcon Inc. to Novartis AG shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | – 101 |
Gain on distribution of Alcon Inc. to Novartis AG shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 691 |
Net income from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 590 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 071 |  | 11 737 |
Attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders of Novartis AG |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 072 |  | 11 732 |
Non-controlling interests |  |  |  |  |  |  |  |  |  |  |  |  |  | – 1 |  | 5 |
Included in net income from continuing operations are: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  | 91 |  | 245 |
Depreciation of property, plant and equipment |  | – 912 |  | – 952 |  | – 282 |  | – 283 |  | – 124 |  | – 110 |  | – 1 318 |  | – 1 345 |
Depreciation of right-of-use assets |  | – 273 |  | – 247 |  | – 41 |  | – 41 |  | – 16 |  | – 17 |  | – 330 |  | – 305 |
Amortization of intangible assets |  | – 3 080 |  | – 2 509 |  | – 370 |  | – 315 |  | – 12 |  | – 12 |  | – 3 462 |  | – 2 836 |
Impairment charges on property, plant and equipment, net |  | – 324 |  | – 100 |  | – 116 |  | – 101 |  |  |  | – 1 |  | – 440 |  | – 202 |
Impairment charges on intangible assets, net |  | – 768 |  | – 632 |  | – 141 |  | – 506 |  | – 5 |  |  |  | – 914 |  | – 1 138 |
Impairment charges and fair value changes on financial assets, net |  | 153 |  | 18 |  |  |  |  |  | 182 |  | 20 |  | 335 |  | 38 |
Additions to restructuring provisions |  | – 217 |  | – 229 |  | – 98 |  | – 165 |  | – 39 |  | – 98 |  | – 354 |  | – 492 |
Equity-based compensation of Novartis equity plans |  | – 714 |  | – 761 |  | – 64 |  | – 67 |  | – 180 |  | – 239 |  | – 958 |  | – 1 067 |
|  | Innovative Medicines |  | Sandoz |  | Corporate (including eliminations) |  | Group |
(USD millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |
Net sales to third parties from continuing operations |  | 37 714 |  | 34 892 |  | 9 731 |  | 9 859 |  |  |  |  |  | 47 445 |  | 44 751 |
Sales to continuing and discontinued segments |  | 783 |  | 741 |  | 141 |  | 177 |  | – 871 |  | – 836 |  | 53 |  | 82 |
Net sales from continuing operations |  | 38 497 |  | 35 633 |  | 9 872 |  | 10 036 |  | – 871 |  | – 836 |  | 47 498 |  | 44 833 |
Other revenues |  | 1 092 |  | 1 188 |  | 63 |  | 62 |  | 24 |  | 16 |  | 1 179 |  | 1 266 |
Cost of goods sold |  | – 10 050 |  | – 9 870 |  | – 5 334 |  | – 5 530 |  | 959 |  | 890 |  | – 14 425 |  | – 14 510 |
Gross profit from continuing operations |  | 29 539 |  | 26 951 |  | 4 601 |  | 4 568 |  | 112 |  | 70 |  | 34 252 |  | 31 589 |
Selling, general and administration |  | – 11 617 |  | – 10 907 |  | – 2 218 |  | – 2 305 |  | – 534 |  | – 505 |  | – 14 369 |  | – 13 717 |
Research and development |  | – 8 152 |  | – 7 675 |  | – 1 250 |  | – 814 |  |  |  |  |  | – 9 402 |  | – 8 489 |
Other income |  | 1 586 |  | 977 |  | 167 |  | 505 |  | 278 |  | 147 |  | 2 031 |  | 1 629 |
Other expense |  | – 2 069 |  | – 1 475 |  | – 749 |  | – 622 |  | – 608 |  | – 512 |  | – 3 426 |  | – 2 609 |
Operating income from continuing operations |  | 9 287 |  | 7 871 |  | 551 |  | 1 332 |  | – 752 |  | – 800 |  | 9 086 |  | 8 403 |
Income from associated companies |  | 1 |  | 1 |  | 2 |  | 5 |  | 656 |  | 6 432 |  | 659 |  | 6 438 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | – 850 |  | – 932 |
Other financial income and expense |  |  |  |  |  |  |  |  |  |  |  |  |  | 45 |  | 186 |
Income before taxes from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 940 |  | 14 095 |
Taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | – 1 793 |  | – 1 295 |
Net income from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 7 147 |  | 12 800 |
Net loss from discontinued operations before gain on distribution of Alcon Inc. to Novartis AG shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  | – 101 |  | – 186 |
Gain on distribution of Alcon Inc. to Novartis AG shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 691 |  |  |
Net income/(loss) from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 590 |  | – 186 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | 11 737 |  | 12 614 |
Attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders of Novartis AG |  |  |  |  |  |  |  |  |  |  |  |  |  | 11 732 |  | 12 611 |
Non-controlling interests |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |  | 3 |
Included in net income from continuing operations are: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  | 245 |  | 292 |
Depreciation of property, plant and equipment |  | – 952 |  | – 1 075 |  | – 283 |  | – 285 |  | – 110 |  | – 122 |  | – 1 345 |  | – 1 482 |
Depreciation of right-of-use assets 1 |  | – 247 |  |  |  | – 41 |  |  |  | – 17 |  |  |  | – 305 |  |  |
Amortization of intangible assets |  | – 2 509 |  | – 2 214 |  | – 315 |  | – 366 |  | – 12 |  | – 7 |  | – 2 836 |  | – 2 587 |
Impairment charges on property, plant and equipment, net |  | – 100 |  | – 239 |  | – 101 |  | – 60 |  | – 1 |  | – 2 |  | – 202 |  | – 301 |
Impairment charges on intangible assets, net |  | – 632 |  | – 592 |  | – 506 |  | – 249 |  |  |  |  |  | – 1 138 |  | – 841 |
Impairment charges and fair value changes on financial assets, net |  | 18 |  | 107 |  |  |  |  |  | 20 |  | – 113 |  | 38 |  | – 6 |
Additions to restructuring provisions |  | – 229 |  | – 395 |  | – 165 |  | – 32 |  | – 98 |  | – 94 |  | – 492 |  | – 521 |
Equity-based compensation of Novartis equity plans |  | – 761 |  | – 645 |  | – 67 |  | – 53 |  | – 239 |  | – 220 |  | – 1 067 |  | – 918 |
1 Depreciation of right-of-use assets recognized from January 1, 2019, the date of implementation of IFRS 16 Leases. Note 1 provides additional disclosures.
Segmentation – consolidated balance sheets
|  | Innovative Medicines |  | Sandoz |  | Corporate (including eliminations) |  | Group |
(USD millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
Total assets |  | 83 112 |  | 71 225 |  | 16 825 |  | 16 468 |  | 32 122 |  | 30 677 |  | 132 059 |  | 118 370 |
Total liabilities |  | – 15 472 |  | – 15 332 |  | – 3 786 |  | – 3 804 |  | – 56 135 |  | – 43 683 |  | – 75 393 |  | – 62 819 |
Total equity |  |  |  |  |  |  |  |  |  |  |  |  |  | 56 666 |  | 55 551 |
Net debt 1 |  |  |  |  |  |  |  |  |  | 24 481 |  | 15 938 |  | 24 481 |  | 15 938 |
Net operating assets |  | 67 640 |  | 55 893 |  | 13 039 |  | 12 664 |  | 468 |  | 2 932 |  | 81 147 |  | 71 489 |
Included in assets and liabilities are: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total property, plant and equipment |  | 9 863 |  | 9 632 |  | 1 849 |  | 1 888 |  | 551 |  | 549 |  | 12 263 |  | 12 069 |
Additions to property, plant and equipment 2 |  | 926 |  | 1 114 |  | 229 |  | 217 |  | 110 |  | 143 |  | 1 265 |  | 1 474 |
Total right-of-use assets |  | 1 489 |  | 1 487 |  | 133 |  | 136 |  | 54 |  | 54 |  | 1 676 |  | 1 677 |
Additions to right-of-use assets 2 |  | 264 |  | 454 |  | 67 |  | 49 |  | 15 |  | 34 |  | 346 |  | 537 |
Total goodwill and intangible assets |  | 56 839 |  | 46 336 |  | 9 817 |  | 8 892 |  | 152 |  | 83 |  | 66 808 |  | 55 311 |
Additions to goodwill and intangible assets 2 |  | 1 235 |  | 647 |  | 105 |  | 68 |  | 85 |  | 52 |  | 1 425 |  | 767 |
Total investment in associated companies |  | 194 |  | 128 |  | 8 |  | 7 |  | 9 430 |  | 8 509 |  | 9 632 |  | 8 644 |
Additions to investment in associated companies |  | 24 |  | 44 |  |  |  |  |  | 7 |  | 11 |  | 31 |  | 55 |
Cash and cash equivalents, marketable securities, commodities, time deposits and derivative financial instruments |  |  |  |  |  |  |  |  |  | 11 563 |  | 11 446 |  | 11 563 |  | 11 446 |
Financial debts and derivative financial instruments |  |  |  |  |  |  |  |  |  | 36 044 |  | 27 384 |  | 36 044 |  | 27 384 |
Current income tax and deferred tax liabilities |  |  |  |  |  |  |  |  |  | 9 880 |  | 8 061 |  | 9 880 |  | 8 061 |
1 Note 29 provides additional disclosures related to net debt
2 Excluding the impact of business acquisitions
The following table shows countries that accounted for more than 5% of at least one of the respective Group totals, as well as regional information for net sales to third parties for the years ended December 31, 2020, 2019 and 2018, and for selected non-current assets for the years ended December 31, 2020 and 2019:
|  | Net sales1 |  | Total of selected non-current assets2 |
(USD millions) |  | 2020 |  | % |  | 2019 |  | % |  | 2018 |  | % |  | 2020 |  | % |  | 2019 |  | % |
Country |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Switzerland |  | 800 |  | 2 |  | 848 |  | 2 |  | 795 |  | 2 |  | 34 904 |  | 39 |  | 33 032 |  | 43 |
United States |  | 16 484 |  | 34 |  | 16 280 |  | 34 |  | 14 618 |  | 33 |  | 39 889 |  | 44 |  | 28 893 |  | 37 |
France |  | 2 442 |  | 5 |  | 2 442 |  | 5 |  | 2 505 |  | 6 |  | 4 115 |  | 5 |  | 3 933 |  | 5 |
Germany |  | 4 518 |  | 9 |  | 4 120 |  | 9 |  | 3 972 |  | 9 |  | 2 607 |  | 3 |  | 2 554 |  | 3 |
Japan |  | 2 804 |  | 6 |  | 2 656 |  | 6 |  | 2 575 |  | 6 |  | 313 |  |  |  | 309 |  |  |
China |  | 2 573 |  | 5 |  | 2 214 |  | 5 |  | 1 953 |  | 4 |  | 714 |  | 1 |  | 684 |  | 1 |
Other |  | 19 038 |  | 39 |  | 18 885 |  | 39 |  | 18 333 |  | 40 |  | 7 837 |  | 8 |  | 8 296 |  | 11 |
Group |  | 48 659 |  | 100 |  | 47 445 |  | 100 |  | 44 751 |  | 100 |  | 90 379 |  | 100 |  | 77 701 |  | 100 |
Region |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Europe |  | 18 715 |  | 38 |  | 17 933 |  | 38 |  | 17 259 |  | 39 |  | 47 798 |  | 53 |  | 46 103 |  | 59 |
Americas |  | 19 725 |  | 41 |  | 19 713 |  | 41 |  | 18 032 |  | 39 |  | 40 391 |  | 45 |  | 29 389 |  | 38 |
Asia/Africa/Australasia |  | 10 219 |  | 21 |  | 9 799 |  | 21 |  | 9 460 |  | 22 |  | 2 190 |  | 2 |  | 2 209 |  | 3 |
Group |  | 48 659 |  | 100 |  | 47 445 |  | 100 |  | 44 751 |  | 100 |  | 90 379 |  | 100 |  | 77 701 |  | 100 |
1 Net sales to third party from continuing operations by location of customer
2 Total of property, plant and equipment; right-of-use assets; goodwill; intangible assets and investment in associated companies
The Group’s largest, second-largest and third-largest customers account for approximately 17%, 11% and 6% of net sales, respectively (2019: 18%, 13% and 8%, respectively; 2018: 18%, 14% and 8%, respectively). All segments had sales to these customers in 2020, 2019 and 2018. The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 14%, 12% and 6%, respectively, of the trade receivables at December 31, 2020 (2019: 14%, 12% and 7%, respectively). Segmentation – Net sales by region 1
|  | 2020 USD m |  | 2019 USD m |  | Change (2019 to 2020) USD % |  | 2018 USD m |  | Change (2018 to 2019) USD % |
Innovative Medicines |  |  |  |  |  |  |  |  |  |  |
Europe |  | 13 484 |  | 12 818 |  | 5 |  | 12 296 |  | 4 |
US |  | 14 342 |  | 13 789 |  | 4 |  | 11 864 |  | 16 |
Asia/Africa/Australasia |  | 8 718 |  | 8 458 |  | 3 |  | 8 097 |  | 4 |
Canada and Latin America |  | 2 469 |  | 2 649 |  | – 7 |  | 2 635 |  | 1 |
Total |  | 39 013 |  | 37 714 |  | 3 |  | 34 892 |  | 8 |
Of which in Established Markets |  | 29 643 |  | 28 573 |  | 4 |  | 26 258 |  | 9 |
Of which in Emerging Growth Markets |  | 9 370 |  | 9 141 |  | 3 |  | 8 634 |  | 6 |
Sandoz |  |  |  |  |  |  |  |  |  |  |
Europe |  | 5 231 |  | 5 115 |  | 2 |  | 4 963 |  | 3 |
US |  | 2 142 |  | 2 491 |  | – 14 |  | 2 754 |  | – 10 |
Asia/Africa/Australasia |  | 1 501 |  | 1 341 |  | 12 |  | 1 363 |  | – 2 |
Canada and Latin America |  | 772 |  | 784 |  | – 2 |  | 779 |  | 1 |
Total |  | 9 646 |  | 9 731 |  | – 1 |  | 9 859 |  | – 1 |
Of which in Established Markets |  | 7 089 |  | 7 111 |  | 0 |  | 7 233 |  | – 2 |
Of which in Emerging Growth Markets |  | 2 557 |  | 2 620 |  | – 2 |  | 2 626 |  | 0 |
Group |  |  |  |  |  |  |  |  |  |  |
Europe |  | 18 715 |  | 17 933 |  | 4 |  | 17 259 |  | 4 |
US |  | 16 484 |  | 16 280 |  | 1 |  | 14 618 |  | 11 |
Asia/Africa/Australasia |  | 10 219 |  | 9 799 |  | 4 |  | 9 460 |  | 4 |
Canada and Latin America |  | 3 241 |  | 3 433 |  | – 6 |  | 3 414 |  | 1 |
Total |  | 48 659 |  | 47 445 |  | 3 |  | 44 751 |  | 6 |
Of which in Established Markets |  | 36 732 |  | 35 684 |  | 3 |  | 33 491 |  | 7 |
Of which in Emerging Growth Markets |  | 11 927 |  | 11 761 |  | 1 |  | 11 260 |  | 4 |
1 Net sales to third parties from continuing operations by location of customer. Emerging Growth Markets comprise all markets other than the Established Markets of the US, Canada, Western Europe, Japan, Australia and New Zealand.
Innovative Medicines Division net sales by business franchise
|  | 2020 USD m |  | 2019 USD m |  | Change (2019 to 2020) USD % |  | 2018 USD m |  | Change (2018 to 2019) USD % |
Oncology |  |  |  |  |  |  |  |  |  |  |
Tasigna |  | 1 958 |  | 1 880 |  | 4 |  | 1 874 |  | 0 |
Promacta/Revolade |  | 1 738 |  | 1 416 |  | 23 |  | 1 174 |  | 21 |
Tafinlar + Mekinist |  | 1 542 |  | 1 338 |  | 15 |  | 1 155 |  | 16 |
Sandostatin |  | 1 439 |  | 1 585 |  | – 9 |  | 1 587 |  | 0 |
Jakavi |  | 1 339 |  | 1 114 |  | 20 |  | 977 |  | 14 |
Gleevec/Glivec |  | 1 188 |  | 1 263 |  | – 6 |  | 1 561 |  | – 19 |
Afinitor/Votubia |  | 1 083 |  | 1 539 |  | – 30 |  | 1 556 |  | – 1 |
Kisqali |  | 687 |  | 480 |  | 43 |  | 235 |  | 104 |
Exjade/Jadenu |  | 653 |  | 975 |  | – 33 |  | 1 099 |  | – 11 |
Votrient |  | 635 |  | 755 |  | – 16 |  | 828 |  | – 9 |
Kymriah |  | 474 |  | 278 |  | 71 |  | 76 |  | nm |
Lutathera |  | 445 |  | 441 |  | 1 |  | 167 |  | 164 |
Piqray |  | 320 |  | 116 |  | 176 |  |  |  | nm |
Adakveo |  | 105 |  | 1 |  | nm |  |  |  | nm |
Tabrecta |  | 35 |  |  |  | nm |  |  |  | nm |
Other |  | 1 070 |  | 1 189 |  | – 10 |  | 1 139 |  | 4 |
Total Novartis Oncology business unit |  | 14 711 |  | 14 370 |  | 2 |  | 13 428 |  | 7 |
Immunology, Hepatology and Dermatology |  |  |  |  |  |  |  |  |  |  |
Cosentyx |  | 3 995 |  | 3 551 |  | 13 |  | 2 837 |  | 25 |
Ilaris |  | 873 |  | 671 |  | 30 |  | 554 |  | 21 |
Other |  |  |  |  |  |  |  | 1 |  | nm |
Total Immunology, Hepatology and Dermatology |  | 4 868 |  | 4 222 |  | 15 |  | 3 392 |  | 24 |
Ophthalmology |  |  |  |  |  |  |  |  |  |  |
Lucentis |  | 1 933 |  | 2 086 |  | – 7 |  | 2 046 |  | 2 |
Xiidra |  | 376 |  | 192 |  | 96 |  |  |  | nm |
Beovu |  | 190 |  | 35 |  | nm |  |  |  | nm |
Other |  | 1 911 |  | 2 463 |  | – 22 |  | 1 995 |  | 23 |
Total Ophthalmology |  | 4 410 |  | 4 776 |  | – 8 |  | 4 558 |  | 5 |
Neuroscience |  |  |  |  |  |  |  |  |  |  |
Gilenya |  | 3 003 |  | 3 223 |  | – 7 |  | 3 341 |  | – 4 |
Zolgensma |  | 920 |  | 361 |  | 155 |  |  |  | nm |
Mayzent |  | 170 |  | 26 |  | nm |  |  |  | nm |
Aimovig |  | 164 |  | 103 |  | 59 |  | 8 |  | nm |
Kesimpta |  | 15 |  |  |  | nm |  |  |  | nm |
Other |  | 51 |  | 60 |  | – 15 |  | 80 |  | – 25 |
Total Neuroscience |  | 4 323 |  | 3 773 |  | 15 |  | 3 429 |  | 10 |
|  | 2020 USD m |  | 2019 USD m |  | Change (2019 to 2020) USD % |  | 2018 USD m |  | Change (2018 to 2019) USD % |
Cardiovascular, Renal and Metabolism |  |  |  |  |  |  |  |  |  |  |
Entresto |  | 2 497 |  | 1 726 |  | 45 |  | 1 028 |  | 68 |
Other |  | 1 |  | 24 |  | – 96 |  | 22 |  | 9 |
Total Cardiovascular, Renal and Metabolism |  | 2 498 |  | 1 750 |  | 43 |  | 1 050 |  | 67 |
Respiratory |  |  |  |  |  |  |  |  |  |  |
Xolair 1 |  | 1 251 |  | 1 173 |  | 7 |  | 1 039 |  | 13 |
Ultibro Group |  | 623 |  | 630 |  | – 1 |  | 703 |  | – 10 |
Other |  | 26 |  | 22 |  | 18 |  | 25 |  | – 12 |
Total Respiratory |  | 1 900 |  | 1 825 |  | 4 |  | 1 767 |  | 3 |
Established Medicines |  |  |  |  |  |  |  |  |  |  |
Galvus Group |  | 1 199 |  | 1 297 |  | – 8 |  | 1 284 |  | 1 |
Diovan Group |  | 1 003 |  | 1 064 |  | – 6 |  | 1 023 |  | 4 |
Exforge Group |  | 980 |  | 1 025 |  | – 4 |  | 1 002 |  | 2 |
Zortress/Certican |  | 452 |  | 485 |  | – 7 |  | 464 |  | 5 |
Neoral/Sandimmun(e) |  | 393 |  | 419 |  | – 6 |  | 463 |  | – 10 |
Voltaren/Cataflam |  | 360 |  | 417 |  | – 14 |  | 445 |  | – 6 |
Other |  | 1 916 |  | 2 291 |  | – 16 |  | 2 587 |  | – 11 |
Total Established Medicines |  | 6 303 |  | 6 998 |  | – 10 |  | 7 268 |  | – 4 |
Total Novartis Pharmaceuticals business unit |  | 24 302 |  | 23 344 |  | 4 |  | 21 464 |  | 9 |
Total division net sales |  | 39 013 |  | 37 714 |  | 3 |  | 34 892 |  | 8 |
1 Net sales reflect Xolair sales for all indications.
nm = not meaningful
Top 20 Innovative Medicines Division product net sales – 2020
Brands |  | Business franchise |  | Key indication |  | US USD m |  | Rest of world USD m |  | Total USD m |
Cosentyx |  | Immunology, Hepatology and Dermatology |  | Psoriasis, ankylosing spondylitis, psoriatic arthritis and non-radiographic axial spondyloarthritis |  | 2 516 |  | 1 479 |  | 3 995 |
Gilenya |  | Neuroscience |  | Relapsing multiple sclerosis |  | 1 562 |  | 1 441 |  | 3 003 |
Entresto |  | Cardiovascular, Renal and Metabolism |  | Chronic heart failure |  | 1 277 |  | 1 220 |  | 2 497 |
Tasigna |  | Oncology |  | Chronic myeloid leukemia |  | 859 |  | 1 099 |  | 1 958 |
Lucentis |  | Ophthalmology |  | Age-related macular degeneration |  |  |  | 1 933 |  | 1 933 |
Promacta/Revolade |  | Oncology |  | Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) |  | 833 |  | 905 |  | 1 738 |
Tafinlar + Mekinist |  | Oncology |  | BRAF V600+ metastatic and adjuvant melanoma; advanced non-small cell lung cancer (NSCLC) |  | 569 |  | 973 |  | 1 542 |
Sandostatin |  | Oncology |  | Carcinoid tumors and acromegaly |  | 837 |  | 602 |  | 1 439 |
Jakavi |  | Oncology |  | Myelofibrosis (MF), polycythemia vera (PV) |  |  |  | 1 339 |  | 1 339 |
Xolair 1 |  | Respiratory |  | Severe allergic asthma (SAA) and chronic spontaneous urticaria (CSU) and nasal polyps |  |  |  | 1 251 |  | 1 251 |
Galvus Group |  | Established Medicines |  | Type 2 diabetes |  |  |  | 1 199 |  | 1 199 |
Gleevec/Glivec |  | Oncology |  | Chronic myeloid leukemia and GIST |  | 315 |  | 873 |  | 1 188 |
Afinitor/Votubia |  | Oncology |  | Breast cancer/TSC |  | 644 |  | 439 |  | 1 083 |
Diovan Group |  | Established Medicines |  | Hypertension |  | 124 |  | 879 |  | 1 003 |
Exforge Group |  | Established Medicines |  | Hypertension |  | 16 |  | 964 |  | 980 |
Zolgensma |  | Neuroscience |  | Spinal muscular atrophy (SMA) |  | 459 |  | 461 |  | 920 |
Ilaris |  | Immunology, Hepatology and Dermatology |  | Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD and gout) |  | 400 |  | 473 |  | 873 |
Kisqali |  | Oncology |  | HR+/HER2- metastatic breast cancer |  | 318 |  | 369 |  | 687 |
Exjade/Jadenu |  | Oncology |  | Chronic iron overload |  | 138 |  | 515 |  | 653 |
Votrient |  | Oncology |  | Renal cell carcinoma |  | 259 |  | 376 |  | 635 |
Top 20 products total |  |  |  |  |  | 11 126 |  | 18 790 |  | 29 916 |
Rest of portfolio |  |  |  |  |  | 3 216 |  | 5 881 |  | 9 097 |
Total division sales |  |  |  |  |  | 14 342 |  | 24 671 |  | 39 013 |
1 Net sales reflect Xolair sales for all indications.
Top 20 Innovative Medicines Division product net sales – 2019
Brands |  | Business franchise |  | Key indication |  | US USD m |  | Rest of world USD m |  | Total USD m |
Cosentyx |  | Immunology, Hepatology and Dermatology |  | Psoriasis, ankylosing spondylitis and psoriatic arthritis |  | 2 220 |  | 1 331 |  | 3 551 |
Gilenya |  | Neuroscience |  | Relapsing multiple sclerosis |  | 1 736 |  | 1 487 |  | 3 223 |
Lucentis |  | Ophthalmology |  | Age-related macular degeneration |  |  |  | 2 086 |  | 2 086 |
Tasigna |  | Oncology |  | Chronic myeloid leukemia |  | 804 |  | 1 076 |  | 1 880 |
Entresto |  | Cardiovascular, Renal and Metabolism |  | Chronic heart failure |  | 925 |  | 801 |  | 1 726 |
Sandostatin |  | Oncology |  | Carcinoid tumors and acromegaly |  | 881 |  | 704 |  | 1 585 |
Afinitor/Votubia |  | Oncology |  | Breast cancer/TSC |  | 1 003 |  | 536 |  | 1 539 |
Promacta/Revolade |  | Oncology |  | Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) |  | 691 |  | 725 |  | 1 416 |
Tafinlar + Mekinist |  | Oncology |  | BRAF V600+ metastatic and adjuvant melanoma; advanced non-small cell lung cancer (NSCLC) |  | 481 |  | 857 |  | 1 338 |
Galvus Group |  | Established Medicines |  | Type 2 diabetes |  |  |  | 1 297 |  | 1 297 |
Gleevec/Glivec |  | Oncology |  | Chronic myeloid leukemia and GIST |  | 334 |  | 929 |  | 1 263 |
Xolair 1 |  | Respiratory |  | Severe allergic asthma (SAA) and chronic spontaneous urticaria (CSU) |  |  |  | 1 173 |  | 1 173 |
Jakavi |  | Oncology |  | Myelofibrosis (MF), polycythemia vera (PV) |  |  |  | 1 114 |  | 1 114 |
Diovan Group |  | Established Medicines |  | Hypertension |  | 86 |  | 978 |  | 1 064 |
Exforge Group |  | Established Medicines |  | Hypertension |  | 13 |  | 1 012 |  | 1 025 |
Exjade/Jadenu |  | Oncology |  | Chronic iron overload |  | 450 |  | 525 |  | 975 |
Votrient |  | Oncology |  | Renal cell carcinoma |  | 332 |  | 423 |  | 755 |
Ilaris |  | Immunology, Hepatology and Dermatology |  | Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD and gout) |  | 304 |  | 367 |  | 671 |
Zortress/Certican |  | Established Medicines |  | Transplantation |  | 169 |  | 316 |  | 485 |
Kisqali |  | Oncology |  | HR+/HER2- metastatic breast cancer |  | 250 |  | 230 |  | 480 |
Top 20 products total |  |  |  |  |  | 10 679 |  | 17 967 |  | 28 646 |
Rest of portfolio |  |  |  |  |  | 3 110 |  | 5 958 |  | 9 068 |
Total division sales |  |  |  |  |  | 13 789 |  | 23 925 |  | 37 714 |
1 Net sales reflect Xolair sales for all indications.
Top 20 Innovative Medicines Division product net sales – 2018
Brands |  | Business franchise |  | Key indication |  | US USD m |  | Rest of world USD m |  | Total USD m |
Gilenya |  | Neuroscience |  | Relapsing multiple sclerosis |  | 1 765 |  | 1 576 |  | 3 341 |
Cosentyx |  | Immunology, Hepatology and Dermatology |  | Psoriasis, ankylosing spondylitis and psoriatic arthritis |  | 1 674 |  | 1 163 |  | 2 837 |
Lucentis |  | Ophthalmology |  | Age-related macular degeneration |  |  |  | 2 046 |  | 2 046 |
Tasigna |  | Oncology |  | Chronic myeloid leukemia |  | 806 |  | 1 068 |  | 1 874 |
Sandostatin |  | Oncology |  | Carcinoid tumors and acromegaly |  | 817 |  | 770 |  | 1 587 |
Gleevec/Glivec |  | Oncology |  | Chronic myeloid leukemia and GIST |  | 440 |  | 1 121 |  | 1 561 |
Afinitor/Votubia |  | Oncology |  | Breast cancer/TSC |  | 929 |  | 627 |  | 1 556 |
Galvus Group |  | Established Medicines |  | Type 2 diabetes |  |  |  | 1 284 |  | 1 284 |
Promacta/Revolade |  | Oncology |  | Immune thrombocytopenia (ITP), severe aplastic anemia (SAA) |  | 581 |  | 593 |  | 1 174 |
Tafinlar + Mekinist |  | Oncology |  | BRAF V600+ metastatic and adjuvant melanoma; advanced non-small cell lung cancer (NSCLC) |  | 457 |  | 698 |  | 1 155 |
Exjade/Jadenu |  | Oncology |  | Chronic iron overload |  | 521 |  | 578 |  | 1 099 |
Xolair 1 |  | Respiratory |  | Severe allergic asthma (SAA) and chronic spontaneous urticaria (CSU) |  |  |  | 1 039 |  | 1 039 |
Entresto |  | Cardiovascular, Renal and Metabolism |  | Chronic heart failure |  | 556 |  | 472 |  | 1 028 |
Diovan Group |  | Established Medicines |  | Hypertension |  | 84 |  | 939 |  | 1 023 |
Exforge Group |  | Established Medicines |  | Hypertension |  | 19 |  | 983 |  | 1 002 |
Jakavi |  | Oncology |  | Myelofibrosis (MF), polycythemia vera (PV) |  |  |  | 977 |  | 977 |
Votrient |  | Oncology |  | Renal cell carcinoma |  | 404 |  | 424 |  | 828 |
Ilaris |  | Immunology, Hepatology and Dermatology |  | Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD and gout) |  | 262 |  | 292 |  | 554 |
Travoprost Group |  | Ophthalmology |  | Reduction of elevated intraocular pressure |  | 194 |  | 323 |  | 517 |
Zortress/Certican |  | Established Medicines |  | Transplantation |  | 145 |  | 319 |  | 464 |
Top 20 products total |  |  |  |  |  | 9 654 |  | 17 292 |  | 26 946 |
Rest of portfolio |  |  |  |  |  | 2 210 |  | 5 736 |  | 7 946 |
Total division sales |  |  |  |  |  | 11 864 |  | 23 028 |  | 34 892 |
1 Net sales reflect Xolair sales for all indications.
Sandoz Division net sales by business franchise
|  | 2020 USD m |  | 2019 USD m |  | Change (2019 to 2020) USD % |  | 2018 USD m |  | Change (2018 to 2019) USD % |
Retail Generics 1 |  | 7 244 |  | 7 590 |  | – 5 |  | 7 880 |  | – 4 |
Biopharmaceuticals |  | 1 928 |  | 1 607 |  | 20 |  | 1 436 |  | 12 |
Anti-Infectives |  | 474 |  | 534 |  | – 11 |  | 543 |  | – 2 |
Total division net sales |  | 9 646 |  | 9 731 |  | – 1 |  | 9 859 |  | – 1 |
1 Of which USD 694 million (2019: USD 784 million; 2018: USD 826 million) represents anti-infectives sold under the Sandoz name
The product portfolio of Sandoz is widely spread in 2020, 2019 and 2018. Segmentation – other revenue
|  | Innovative Medicines |  | Sandoz |  | Corporate (including eliminations) |  | Group |
(USD millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
Profit-sharing income |  | 835 |  | 732 |  |  |  | 2 |  |  |  |  |  | 835 |  | 734 |
Royalty income |  | 107 |  | 104 |  | 25 |  | 19 |  | 168 |  | 24 |  | 300 |  | 147 |
Milestone income |  | 39 |  | 201 |  | 11 |  | 30 |  |  |  |  |  | 50 |  | 231 |
Other 1 |  | 37 |  | 55 |  | 17 |  | 12 |  |  |  |  |  | 54 |  | 67 |
Total other revenues |  | 1 018 |  | 1 092 |  | 53 |  | 63 |  | 168 |  | 24 |  | 1 239 |  | 1 179 |
1 Other includes revenue from activities such as manufacturing or other services rendered, to the extent such revenue is not recorded under net sales.
|  | Innovative Medicines |  | Sandoz |  | Corporate (including eliminations) |  | Group |
(USD millions) |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018 |
Profit-sharing income |  | 732 |  | 874 |  | 2 |  | 3 |  |  |  |  |  | 734 |  | 877 |
Royalty income |  | 104 |  | 162 |  | 19 |  | 10 |  | 24 |  | 16 |  | 147 |  | 188 |
Milestone income |  | 201 |  | 128 |  | 30 |  | 45 |  |  |  |  |  | 231 |  | 173 |
Other 1 |  | 55 |  | 24 |  | 12 |  | 4 |  |  |  |  |  | 67 |  | 28 |
Total other revenues |  | 1 092 |  | 1 188 |  | 63 |  | 62 |  | 24 |  | 16 |  | 1 179 |  | 1 266 |
1 Other includes revenue from activities such as manufacturing or other services rendered, to the extent such revenue is not recorded under net sales.

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