Novartis 2Q Earnings, Sales Fell
19 Julho 2022 - 03:22AM
Dow Jones News
By Maitane Sardon
Novartis AG said its sales and profit fell in the second quarter
and the group backed its 2022 guidance.
The Swiss pharmaceutical company on Tuesday posted net profit of
$1.69 billion, down from $2.89 billion a year earlier.
Core operating income was $4.27 billion in the quarter, down
from $4.35 billion the year prior.
Sales came in at $12.78 billion, compared with $12.96 billion
the previous year, Novartis said. At constant currencies, sales
rose 5%.
The main contributors to growth were heart failure treatment
Entresto and psoriasis-and-arthritis treatment Cosentyx, Novartis
said.
Analysts polled by FactSet had forecast net profit at $3.23
billion and sales at $12.60 billion for the quarter.
The company's generics arm, Sandoz, posted a 5% sales growth at
constant currencies, Novartis said.
The company backed its previously-issued outlook for 2022,
reiterating that it sees group sales growth for the year in the
mid-single digits and core operating income increasing in the
mid-single digits.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
July 19, 2022 02:07 ET (06:07 GMT)
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