Novartis' Loss of Exclusivity Continued to Erode Entresto Sales in Q3, RBC Says

11:01 AM EDT, 10/16/2026 (MT Newswires) -- Novartis' (NVS) loss of exclusivity on its Entresto heart failure medication last year continued to erode the therapy's sales in Q3, RBC Capital Markets said in a Friday note. The brokerage estimates about a 96% fall in Entresto prescriptions in Q3, with revenue of about $1.12 billion during the quarter. Entresto's Q3 decline is expected to to offset stronger prescriptions for the company's Kesimpta therapy for relapsing forms of multiple sclerosis and Scemblix for chronic myeloid leukemia, RBC said. Novartis is set to release its Q3 results on Oct. 27 and RBC said it estimates about a 0.5% foreign exchange headwind on the company's top-line. The brokerage also said it continues to align with Novartis' H2 outlook on both revenue and core operating income. In addition, RBC noted that Novartis' key near-term catalyst is the upcoming data readout for remibrutinib in relapsing multiple sclerosis. RBC has a sector perform rating on Novartis, with a price target of 120 Swiss francs ($145.90). Price: 151.14, Change: +0.76, Percent Change: +0.51