Swiss Novartis Q1 net profit up 6.7% at $2.4bn

24 April 2013 08:23  [Source: ICIS news]

SINGAPORE (ICIS)--Novartis has posted a 6.7% year-on-year increase in its Q1 net profit to $2.42bn (€1.86bn) due to its expansion in its growth products, the Swiss pharmaceuticals major said on Thursday.

The company’s Q1 sales was up by 2.0% year on year to $14.0bn, Novartis said in a statement.

Its operating income rose by 5.8% year on year to $2.90bn, it said.

“Novartis delivered a solid quarter, with all divisions contributing to growth,” said Joseph Jimenez, CEO of Novartis.

“Significant expansion in our growth products helped to offset the impact of patent expirations. Vaccines and Diagnostics performance improved, and achieved a key approval for Bexsero in the EU while Consumer Health returned to sales growth.”

Bexsero is a vaccine to prevent meningitis.

Looking ahead, group net sales in 2013 are expected to be in line with 2012 in constant currencies, after absorbing the impact of generic competition, which could amount to as much as $3.5bn.

($1 = €0.77)

By: Surinder Malhi
+65 6780 4327

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly