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Item 11 — Quantitative and Qualitative Disclosures About Market Risk
Novartis AG · 20-F · FY 2025 · Period ended Dec 31, 2025
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The major financial risks facing us are managed centrally by the Company’s treasury function, which has established processes and procedures to identify, aggregate and manage our financial risk exposure. The Company’s treasury function is included in management’s internal control assessment.
For information about the effects of currency fluctuations and how we manage currency risk, see “Item 5. Operating and Financial Review and Prospects—Item 5.B Liquidity and capital resources.”
The information set forth under “Item 18. Financial Statements—Note 28. Financial instruments - additional disclosures” is incorporated by reference.
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