NVS Novartis AG

By Denise Roland

Novartis AG (NVS) said net income increased in the third quarter thanks to proceeds from its consumer health-care joint venture with GlaxoSmithKline PLC (GSK.LN), helping offset declining revenue and heavy investment into its new heart-failure medicine and its ailing eye-care unit.

The Swiss pharmaceutical giant on Tuesday said net income from continuing operations increased 7% to $1.9 billion in the three months to Sept. 30, while revenue fell 1% to $12.1 billion.

Core net income from continuing operations, a measure that strips out one-time gains and losses such as proceeds from the consumer health-care joint venture, fell 4% to $2.9 billion.

Analysts had expected revenue of $12.2 billion and core net income of $2.8 billion.

Write to Denise Roland at denise.roland@wsj.com

(END) Dow Jones Newswires

October 25, 2016 01:46 ET (05:46 GMT)

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