Swiss Novartis Q4 net profit up 72% at $2.08bn; sales flat

23 January 2013 07:15  [Source: ICIS news]

SINGAPORE (ICIS)--Swiss pharmaceuticals firm Novartis reported on Wednesday a 72% surge in its fourth-quarter net profit to $2.08bn (€1.56bn), as sales remained almost flat.

The company’s fourth quarter sales last year totalled $14.83bn, compared with $14.78bn in the same period in 2011, it said in a statement.

Its operating income rose by 88% year on year to $2.48bn in the fourth quarter of last year.

For the full year of 2012, the company’s net income rose by 4% year on year to $9.62bn, while its sales were down by 3% at $56.7bn, the company said.

“Excluding the impact of generic [drugs] competition, group net sales would grow at least in mid-single digits in 2013,” it added.

($1 = €0.75)

By: Nurluqman Suratman

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