Novartis: raises 2019 profit guidance after strong quarter
(CercleFinance.com) - Novartis raised its full-year profit guidance on Wednesday after reporting 2% sales growth over the last quarter, on the back of growth of its drugs Cosentyx and Entresto.
The Swiss drugmaker announced that first-quarter revenue was 11.1 billion dollars, up from 10.9 billion dollars in the same period last year.
Novartis said that sales of its psoriasis drug Cosentyx rose by 41% at constant exchange rates, to 791 million dollars, with strong demand growth in all indications and regions. Sales of heart drug Entresto leapt 85% to 357 million dollars.
The group's core operating income grew 18% - which excludes the impact of acquisitions, disposals, and restructuring - grew 18%.
In its statement, Novartis said it has a "strong pipeline," and that it was "well positioned" for growth in 2019.
Its core operating income guidance has been revised upwards, with the company now expecting it to grow "high single digit" at constant currencies.
The Novartis shares were up 2.5% at 79.9 Swiss francs in Zurich after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Swiss drugmaker announced that first-quarter revenue was 11.1 billion dollars, up from 10.9 billion dollars in the same period last year.
Novartis said that sales of its psoriasis drug Cosentyx rose by 41% at constant exchange rates, to 791 million dollars, with strong demand growth in all indications and regions. Sales of heart drug Entresto leapt 85% to 357 million dollars.
The group's core operating income grew 18% - which excludes the impact of acquisitions, disposals, and restructuring - grew 18%.
In its statement, Novartis said it has a "strong pipeline," and that it was "well positioned" for growth in 2019.
Its core operating income guidance has been revised upwards, with the company now expecting it to grow "high single digit" at constant currencies.
The Novartis shares were up 2.5% at 79.9 Swiss francs in Zurich after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.