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Novartis posts net sales of $13.3B in Q4, up 3% YoY

Pharmaceutical giant Novartis International AG said on Wednesday its net sales for the fourth quarter of 2018 amounted to $13.3 billion, 3% higher than in the same three-month period a year ago. The company announced its net income stood at $1.2 billion in the last quarter of fiscal 2018, marking a 40% decrease on an annual basis. Novartis saw its earnings per share (EPS) fall 39% year over year, to reach a figure of $0.52 in the fourth quarter.

In fiscal 2018, Novartis net sales amounted to $51.9 billion, 6% higher than in 2017. The company's full year net income was $7.7 billion, 64% higher annually. Earnings per share for the full 2018 stood at $5.44, 66% higher year over year. The increase in the company's annual net sales was mainly attributed to the growth in Cosentyx, AAA and four additional products rgetting blockbuster status sales.

"In 2018 we reimagined Novartis. We took major steps towards becoming a medicines company that focuses its capital on developing, launching, and creating global access to breakthrough medicines... Looking ahead, we expect to sustain top and bottom line growth driven by the strength of our in line brands and our exciting lineup of 10 potential blockbuster launches by 2020," Novartis CEO Vas Narasimhan commented.

Breaking the News / SS