The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The race is underway to find a vaccine that can control African swine fever, a highly contagious and deadly viral infection ravaging China's hog population. There is currently...Agricultureread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
Focusing on developing targeted therapeutics, Endocyte expands Novartis' platform with "both a potential near-term product launch and early-stage clinical development programs," Novartis said in a press release.
Novartis also raised its full-year sales outlook, citing growing revenue from its Cosentyx psoriasis and arthritis drug as well as the performance of its heart failure medicine Entresto, whose third-quarter sales more than doubled.
Novartis now expects sales to grow in the mid-single-digit percentage range at constant currencies, up from its previous forecast of low-to-mid-single-digit percentage rates.
Shares of Novartis were over 1.5 percent higher during mid-morning deals on Thursday.
"We are very pleased with how the innovative medicines business is performing, we are seeing strong growth on our key growth drivers Entresto and Cosentyx as well as across our oncology portfolio," Vasant Narasimhan, CEO of Novartis, told CNBC's "Squawk Box Europe" on Thursday.
Third-quarter core net income rose 2 percent to $3.1 billion, compared to the average analyst forecast of $3 billion in a Reuters poll. Sales rose 3 percent to $12.78 billion, compared to the average forecast of $12.84 billion in the poll.
"I think we really have to show investors that we have the innovation power to grow. ... And I think investors understandably for a period of time were questioning whether that innovation power is there," Narasimhan said.
"I hope we are starting to demonstrate through the work we are doing in these platforms, the other filings that we announced today that we have that innovation power to drive growth — and that will ultimately be reflected in our valuation."
— Reuters contributed to this report.