Novartis shares have risen 17.5% year-to-date, reflecting renewed investor optimism. The company secured FDA approval for Itvisma, a one-time gene therapy for a broad spinal muscular atrophy patient group, expanding the market beyond its existing Zolgensma treatment. Positive developments in the drug pipeline and strategic partnerships, including one with Arrowhead Pharmaceuticals, have sparked interest. However, the company is discontinuing solid dose manufacturing at its Stein site, resulting in 550 job cuts, indicating a strategic shift in production focus.