1653 GMT - Novartis AG is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after the Swiss pharma major said its fourth-quarter net profit was $1.47 billion. The result compares with $16.31 billion in net profit in the prior year, which reflected the $14.6 billion sale of its investment in Roche Holding. Analysts had expected Novartis's fourth-quarter net profit at $2.92 billion, according to FactSet. The underwhelming fourth-quarter net profit was partly due to lower-than-expected sales from key drugs such as spinal muscular atrophy treatment Zolgensma and psoriasis drug Cosentyx, with the latter hit by a U.S. revenue deduction true-up to prior quarters, Jefferies analysts said in a research note. Dow Jones & Co. owns Factiva. (christian.moess@wsj.com)

(END) Dow Jones Newswires

February 01, 2023 12:09 ET (17:09 GMT)

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