Novartis Raises Full-Year Sales, Core Operating Income Guidance After Strong 2Q
July 18 2019 - 02:14AM
Dow Jones News
By Kim Richters
Swiss pharmaceuticals company Novartis AG (NOVN.EB) on Thursday
raised its full-year sales and core operating income guidance,
saying it saw strong sales in the second quarter.
Novartis now expects its 2019 core operating income to grow low
double-digit to mid-teens and net sales to grow mid to high-single
digits. The revised guidance assumes that no Gilenya generics will
enter the U.S. in 2019.
Net profit attributable to shareholders fell to $6.8 billion
from $7.77 billion the same period last year and net income from
continuing operations excluding Alcon, which went public in April,
declined to $2.11 billion from $7.73 billion after a nearly $6
billion one-off gain from the sale of Novartis's stake in its joint
consumer health-care venture with GlaxoSmithKline PLC (GSK.LN).
Core operating profit, a figure watched by analysts that strips
out extraordinary items, grew to $3.65 billion from $3.21 billion.
Net sales grew to $11.76 billion from $11.34 billion, mainly due to
strong sales of the company's Cosentyx and Entresto drugs,
according to Novartis.
"Novartis delivered an exceptional first-half performance in
2019 as a focused medicines company with strong sales and
productivity driving double-digit core operating income growth with
margin expansion," Novartis Chief Executive Vas Narasimhan
said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 18, 2019 01:59 ET (05:59 GMT)
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