NVS Novartis AG

   By Cecilia Butini 
 

Novartis on Tuesday posted rising earnings and sales for the first quarter of the year as its key drugs drove the business and generics division Sandoz continued to normalize after Covid-19 headwinds.

The Swiss pharma major reported net income of $2.22 billion for the quarter, up from $1.80 billion the year prior, on sales that grew to $12.53 billion from $12.41 billion.

Operating income rose to $2.85 billion from $2.42 billion the year prior, and core earnings per share were $1.46, up from $1.38, Novartis said.

The figures exclude the impact of Novartis's 2021 divestment of a Roche stake, it said.

The main contributors to growth were heart-failure treatment Entresto, multiple-sclerosis drug Kesimpta and psoriasis-and-arthritis treatment Cosentyx, Novartis said.

The company's generics division, Sandoz, posted 8% growth at constant currencies as business dynamics continue to normalize from the impact of the pandemic, it said. It said the strategic revision of the business is progressing, and that it continues to expect to be able to give an update by year-end.

Novartis said it expects both sales and core operating income to grow in the mid-single-digit range in 2022.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

April 26, 2022 01:38 ET (05:38 GMT)

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