Novartis net sales rise 5% to $13.2B in Q2

Wednesday, 18. July 2018 07:05

Novartis announced on Tuesday that its net sales in the second quarter of 2018 topped market estimates as they jumped 5% to $13.2 billion. Earnings per share (EPS) stood at $3.34, soaring from $0.84 compared to the same period a year ago, and net income rose from $2 billion last year to $7.8 billion in the second quarter of 2018, which includes a $5.7 billion net gain from the sale of the company's stake in the GSK consumer healthcare joint venture.

Core EPS rose 4% to $1.29 year-on-year and core net income was up 7% to $3.5 billion in the three month period. Operating income amounted to $2.5 billion, up 6% compared to the same period in 2017, while core operating income increased 7% to $3.5 billion.

"We made significant progress this quarter to transform Novartis into a focused medicines company. We completed the Alcon strategic review, exited the OTC joint venture, and strengthened our innovation engine with the acquisition of AveXis. Operationally we delivered solid growth, with margins expanding and key growth drivers including Cosentyx delivering strong performance," CEO Vas Narasimhan stated.

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