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4/24, 7:04 AM (Source: TeleTrader)
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Novartis net sales up 2% to $11.1B in Q1

Novartis announced on Wednesday that its net sales in the first quarter of 2019 rose 2% to $11.1 billion. Earnings per share (EPS) stood at $0.81, falling 5% from $0.85 achieved in the same period a year ago, and net income was down 5% to $1.9 billion.

Core EPS rose 5% year on year to $1.21 and core net income was up 5% to $2.8 billion in the three month period. Operating income amounted to $2.2 billion, declining 5% compared to the same period in 2018, while core operating income increased 9% to $3.2 billion.

"Novartis is off to a strong start in 2019 with the Mayzent launch, successful Alcon spin-off, and strong operational execution leading us to revise 2019 profit guidance upwards. We enter an exciting period with expected launches of Zolgensma, BYL719 and brolucizumab and multiple late stage readouts. With our strong pipeline, focus on productivity, and commitment to cultural transformation, we are well positioned for growth in 2019 and the future," CEO Vas Narasimhan stated.

Breaking the News / NP