By Marta Falconi
ZURICH-- Novartis AG on Tuesday reported a 26.5% drop in
fourth-quarter profit as declining sales weighted on the Swiss drug
company's performance.
Basel-based Novartis reported net profit attributable to
shareholders of $1.49 billion, compared with $2.03 billion in the
same quarter a year earlier.
The company reported sales of $14.63 billion, missing analysts'
forecasts of $14.68 billion.
Novartis said sales would grow by a mid-single digit percentage
this year, as measured in constant currency, which strips out the
effect of foreign-exchange rate fluctuations. Core operating
income, which excludes one-off items, will likely grow ahead of
sales at a high-single digit rate, it said.
Write to Marta Falconi at marta.falconi@wsj.com
Access Investor Kit for Novartis AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=CH0012005267
Access Investor Kit for Novartis AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US66987V1098
Subscribe to WSJ: http://online.wsj.com?mod=djnwires