Novartis said on Tuesday that its net sales were up 2% with growth in all divisions, which made net income rise from $1,945 million in 3Q last year to $2,083 million this year, which is a 10% movement up.
Commenting on the results, Joseph Jimenez, CEO of Novartis, said: “Novartis became the first company to commercialize a CAR-T therapy, Kymriah, in Q3. Group sales were solid, with growth in all divisions, and Alcon delivered strong growth in both sales and core operating income. We are on track to deliver our full year guidance, and have confidence in our growth phase.”
Group net sales in 2017 are expected to be broadly in line with the prior year (cc), after absorbing the impact of generic competition, including the continued genericization of Gleevec/Glivec in the US and Europe.
Image: FILE PHOTO: The logo of Swiss drugmaker Novartis AG is seen at its headquarters in Basel, Switzerland, January 25, 2017. REUTERS/Arnd Wiegmann/File Photo