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


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

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



Source: Reuters
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