Novartis posts net sales of $12.41B in Q1

Tuesday, 27. April 2021 07:03

Novartis announced on Tuesday that its net sales in the first quarter of 2021 stood at $12.41 billion, rising 1% compared to the same period a year earlier but missing estimates. Earnings per share (EPS) fell 5% year on year to $0.91 and net income was down 5% to $2.06 billion.

Core EPS slid 3% to $1.52 and core net income decreased 4% to $3.4 billion in the three-month period. Operating income dropped 12% to $2.4 billion, while core operating income fell 5% to $4 billion.

"Novartis growth drivers and launches continued their strong momentum with double-digit growth for Entresto, Cosentyx, Oncology growth drivers and Zolgensma. We expect Sandoz performance to stabilize, in the near-term, after a challenging quarter," CEO Vas Narasimhan stated.

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