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Overall, the market situation has recovered, but some therapeutic areas continued to be burdened by changing patient behavior. Between July and September, the group had just under US $ 12.3 billion. This is a 1% increase over the same period last year. At constant exchange rates (CERs), sales remained at the level of the previous year, Novartis announced on Tuesday.
As usual, the Innovative Medicines pharmaceutical division (+ 2%) made the largest contribution to sales. The growth drivers here were Entresto heart remedy, Cosentyx psoriasis preparation, and Zolgensma gene therapy. The Sandoz generics division (-2%) in turn suffered from the Covid 19 pandemic, as Novartis explained. You have restricted patient access to retail therapy.
The group confirms the sales target
Operationally, Novartis earned $ 2.4 billion (+ 2%) in the third quarter, while the final result was a net profit of 1.9 billion (-5%). According to Novartis, a higher tax rate had a negative effect.
For analysts, however, adjusted core operating profit for various influences is more important. This improved in line with management goals, but surpassed the AWP consensus of analysts’ estimates.
The Group confirms its sales target for the whole year. This is expected to grow at constant exchange rates in the single-digit average percentage range. Novartis is increasing its core operating profit progonse and is now assuming a ten percent low-to-mid range advantage.
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