The Swiss company now aims for growth of 5% per year until 2027.

It said demand for innovative drugs would help drive those numbers.

Novartis said the target is driven mainly by six drugs, led by Kisqali.

The breast cancer drug was shown this year to help a wider patient group in a study.

The group sales forecast is up from a previous revenue growth target of 4% through 2027.

It also comes a month after the Basel-based drugmaker spun off and listed generic drugs business Sandoz, and raised its earnings forecast for this year.

Novartis cited cost cuts and higher-than-forecast prices for its multiple sclerosis shot Kesimpta.

The group's shares rose only slightly after the update, as investors stayed cautious over long-term growth prospects.