Print Edition - 2018-07-19  |  Money Digest

Swiss drugs giant Novartis profit up 3pc


Jul 19, 2018-

Novartis says net profit rose 3 percent in the second quarter amid strong growth for some of its top products, as the Swiss pharmaceuticals giant moves to spin off its Alcon eye-care business. New CEO Vas Narasimhan touted Novartis’ plans to create a “focused medicines company,” including through the Alcon spinoff announced in late June. Second-quarter core net profit rose to $3.01 billion from $2.87 billion a year earlier. Novartis’ overall net profit was skewed by a $5.7 billion net gain from the sale of its stake in the GSK consumer health-care joint venture. Sales climbed 5 percent to $13.16 billion. Sales for heart-failure drug Entresto more than doubled from a year ago to $239 million. (AP)

Published: 19-07-2018 08:11

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