Novartis posts higher net profit of $2.22 billion on sales of $12.53 billion
By Cecilia Butini Novartis on Tuesday posted rising earnings and sales for the first quarter of the year as its key drugs drove the business and generics division Sandoz continued to normalize after Covid-19 headwinds.
The Swiss pharma major reported net income of $2.22 billion for the quarter, up from $1.80 billion the year prior, on sales that grew to $12.53 billion from $12.41 billion. Operating income rose to $2.85 billion from $2.42 billion the year prior, and core earnings per share were $1.46, up from $1.38, Novartis said.The main contributors to growth were heart-failure treatment Entresto, multiple-sclerosis drug Kesimpta and psoriasis-and-arthritis treatment Cosentyx, Novartis said.
The company's generics division, Sandoz, posted 8% growth at constant currencies as business dynamics continue to normalize from the impact of the pandemic, it said. It said the strategic revision of the business is progressing, and that it continues to expect to be able to give an update by year-end.
Novartis said it expects both sales and core operating income to grow in the mid-single-digit range in 2022.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Global Military Spending Tops $2 Trillion for First Time in History'If global leaders actually care about charting a more secure future, then we need a massive realignment in spending priorities,' says FCNL as SIPRIorg reports total worldwide military spending topped $2 trillion for the first time ever last year.
Les mer »
Dogecoin adds $2 billion to its market cap in 1 hour as Twitter set ‘to reach deal’ with MuskDogecoin (DOGE) has received a great deal of attention recently as a result of Elon Musk’s proposed takeover of the Twitter... Continue reading
Les mer »
Why a proposed expansion of a veteran service dog program is drawing scrutiny ahead of San Antonio bond electionThe proposed expansion of a veteran service dog program in San Antonio has been criticized as voters decide whether to give it more than $2 million in city bond money.
Les mer »
Global Military Spending Tops $2 Trillion for First Time in History'If global leaders actually care about charting a more secure future, then we need a massive realignment in spending priorities,' says FCNL as SIPRIorg reports total worldwide military spending topped $2 trillion for the first time ever last year.
Les mer »
Dogecoin adds $2 billion to its market cap in 1 hour as Twitter set ‘to reach deal’ with MuskDogecoin (DOGE) has received a great deal of attention recently as a result of Elon Musk’s proposed takeover of the Twitter... Continue reading
Les mer »
Aaron Judge, wife attend Nets loss after trash-filled end to Yankees gameAaron Judge’s Saturday got more eventful after a wild end to the Yankees’ afternoon win.
Les mer »