Shares of Swiss drugmaker Novartis climbed as much as 4.8% in early deals Tuesday after it raised its full-year guidance following better-than-expected first-quarter results.

Novartis has increased its full-year sales guidance after pulling off a strong first quarter, even though three meds missed analysts’ expectations ahead of their key expansion opportunities. | Novartis has increased its full-year sales guidance after pulling off a strong first quarter,

Novartis lifted its full-year guidance after first-quarter profit and sales rose and beat consensus expectations, boosted by strong sales of key drugs.

Novartis shares rallied on Tuesday as the Swiss drugmaker raised its outlook for the year after seeing strong demand for heart and psoriasis drugs.

FRANKFURT (Reuters) -Swiss drugmaker Novartis raised its full-year guidance on wider use of psoriasis and arthritis drug Cosentyx on Tuesday and said it had tapped the former boss of Bristol Myers Squibb (BMS) to become its chairman next year.

Some of the top growth drivers for Novartis included Entresto, which generated $1.8 billion in sales as well as Cosentyx, which generated $1.3 billion.

Beat-and-raise first quarter puts Novartis in a good position for shareholder value creation in the following years. Read more to see our analysis on NVS stock.

Key Takeaways Novartis beat first-quarter forecasts for profit and sales on rising demand for its blockbuster drugs.Revenue from the Swiss-based pharmaceutical firm's top-selling medicines, Entresto and Cosentyx,

Shares of Novartis (NVS) are soaring in Tuesday's pre-market trading session — holding onto steady gains into the market open — after the Swiss pharmaceutical giant reported better-than-expected first-quarter earnings and raised its full-year guidance.