Novartis: stock down after quarterly results

(CercleFinance.com) - The Novartis share is down 1.
4% in Zurich today, despite the health group's publication of Q1 2018 adjusted core EPS that is up 6% in local currencies at 1.28 dollar, one cent above the consensus.

Net sales increased by 4% at constant currencies to approximately 12.7 billion dollars (+10% as reported), mainly boosted by its Entresto and Cosentyx blockbuster drug, as well as a return to growth in oncology.

For 2018, the group has confirmed its target for single-digit net sales growth (at constant currencies) between in the lower half of its range, with a single-digit increase in core operating income rate (at constant currencies) in the upper half of the target range.


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