Novartis shines in first quarter
pharmafile | April 21, 2010 | News story | Sales and Marketing | 2010 financials, Alcon, Novartis
Novartis has had a very strong first quarter, its first under new chief executive Joe Jimenez, delivering a 25% increase in sales.
Net sales reached $12.1 billion in the period, as newly launched products and flu vaccine contracts bolstered sales by $3 billion collectively.
The performance helped turn in net income that rose by 49% to $2.9bn.
Jimenez said: “I am pleased with the strong growth generated in the first quarter of 2010 across our entire healthcare portfolio. All of our businesses are making good progress, particularly the sustained expansion in pharmaceuticals and the strong contributions from supply contracts for A (H1N1) pandemic flu vaccines.
“We are focusing on extending our lead in innovation, driving growth and improving productivity, which we believe will generate greater sustainable value from our portfolio.”
Overall pharma sales were up 13% to $7.3 billion. Top-selling blood pressure treatment Diovan dropped 1% to $1.4bn with Exforge growing 42% to $204m.
Top-selling cancer drug Glivec grew 8% to £1bn with its oncology division growing by 14% overall to $2.4bn.
Jimenez continued:” We are intensifying productivity efforts to improve profitability as well as to enable continued investments in drug discovery and expansion into new markets.
The preparations to integrate eye care company Alcon will create a new growth platform for Novartis, he added.
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