Novartis: Q3 net income down 5%

(CercleFinance.com) - Novartis has reported Q3 third quarter net income of 1.
93 billion dollars, down 5% (stable at constant exchange rates), with core operating income that is up 9% (+11% at constant exchange rates), driven by lower costs and an improved gross margin

Up 1% at 12.26 billion dollars, net sales from continuing operations remained stable excluding FX factors, in particular driven by Entresto, Zolgensma and Cosentyx, while demand was impacted by Covid-19 in some areas.

For continuing operations, Novartis expects mid-single-digit growth in net sales in 2020, with core operating income set to increase by between 10% and 15%, compared to low double-digit growth previously.


Copyright (c) 2020 CercleFinance.com. All rights reserved.