Shares of Novartis AG (NYSE: NVS) experienced a surge in premarket trading as the company surpassed expectations in its second-quarter 2023 financial report. 

The pharmaceutical giant reported core earnings per share (EPS) of $1.83 and sales of $13.62 billion, outperforming the consensus estimates of $1.66 and $13.17 billion, respectively.

Novartis showcased a robust balance sheet and confident growth outlook, leading to the initiation of an up-to $15 billion share buyback program. This move reflects the company's commitment to creating value for its shareholders while retaining the flexibility for future strategic acquisitions.

Additionally, due to the strong momentum observed in the first half of the year, Novartis has raised its full-year 2023 sales outlook.

$NVS was trading at $101.24 in pre-market, up $2.30 (+2.32%) 

In other news, Biophytis SA (Nasdaq: BPTS) and SEQENS have achieved a notable milestone by concluding a master agreement for the production of the active compound in Sarconeos (BIO101), Biophytis' promising drug candidate designed to target severe forms of Covid-19, sarcopenia, and Duchenne muscular dystrophy.

Under this agreement, SEQENS, a prominent global pharmaceutical manufacturing company, will take charge of producing the active ingredient in Sarconeos (BIO101) at its Villeneuve La Garenne plant, situated near Paris, France.

In pre-market, $BPTS was trading at $3.39, reflecting a gain of $1.24 (+57.67%)

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