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    • Novartis sees 2019...

    Novartis sees 2019 growth as it sheds eyecare unit, narrows focus

    GarimaWritten by Garima Published On 2019-01-30T09:00:32+05:30  |  Updated On 16 Aug 2021 3:06 PM IST

    Novartis said sales of its Entresto heart failure medicine accelerated along with revenue from its psoriasis-and-arthritis blockbuster Cosentyx.


    ZURICH: Swiss drugmaker Novartis sees mid-single-digit sales growth from its core businesses in 2019 as it sheds its Alcon eyecare unit and a U.S. generics pills business to focus on newer high-tech drugs.

    Fourth-quarter core operating profit rose to $3.39 billion, the company said on Wednesday, compared to the average $3.44 billion in a poll of analysts by Reuters. Sales rose to $13.3 billion, matching the average forecast in the poll.

    Novartis said sales of its Entresto heart failure medicine accelerated along with revenue from its psoriasis-and-arthritis blockbuster Cosentyx.

    For all of 2018, Novartis booked a net profit of $12.6 billion, up 64 per cent as it made gains on the sale of an over-the-counter medicines joint venture to GlaxoSmithKline to focus on newer, costly drugs including gene therapy and nuclear medicine targeting cancer. Full-year sales rose 5 per cent to $51.9 billion.


    "Looking ahead, we expect to sustain top and bottom line growth," Chief Executive Vas Narasimhan said in a statement. The Alcon spinoff remained on track for the first half of this year.


    Also Read: Novartis Aimovig not cost effective: UK price watchdog
    AlconarthritisCosentyxEntrestoeyecare unitgeneric pillsGSKhigh tech drugsnet profitNovartisnovartis chiefnovartis profitprofitPsoriasis
    Source : Reuters

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    Garima
    Garima

      Garima joined Medical Dialogues in the year 2017 and is currently working as a Senior Editor. She looks after all the Healthcare news pertaining to Medico-legal cases, MCI/DCI decisions, Medical Education issues, government policies as well as all the news and updates concerning Medical and Dental Colleges in India. She is a graduate from Delhi University. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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