By Cecilia Butini

Novartis AG on Wednesday reported higher earnings and sales for the fourth quarter and raised its dividend for 2021, citing a good performance from its key growth drivers and benefits from the sale of its investment in Roche Holding AG.

Net income at the Swiss pharma major came in at $16.31 billion for the quarter up from $2.1 billion the previous year, benefiting from the sale of Novartis's stake in Roche.

Core operating income, or income excluding extraordinary items, also rose in the quarter, reaching $3.82 billion from $3.50 billion the year prior. Earnings per share increased to $7.29 from $0.92 in the fourth quarter of 2020, and core EPS rose to $1.40 from $1.34, the company said.

Sales grew to $13.23 billion from $12.77 billion in the same quarter of 2020, driven by a strong performance in its Innovative Medicines division, Novartis said.

The company proposed an increased dividend for 2021 of 3.10 Swiss francs ($3.37) a share, up from CHF3 a share.

Looking ahead, Novartis said it expects sales and operating income to grow mid-single digit.

The strategic review of generic division Sandoz is progressing, it added, and it expects to provide an update at the end of 2022 at the latest.

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

(END) Dow Jones Newswires

February 02, 2022 01:46 ET (06:46 GMT)

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