Novartis 1Q Net Profit, Sales Grow
April 19 2018 - 12:57AM
Dow Jones News
By Donato Paolo Mancini
Swiss pharmaceutical company Novartis AG (NOVN.EB) said on
Thursday that its first-quarter net profit rose, boosted by drugs
Entresto and Cosentyx.
Novartis said net income rose to $2.03 billion, from $1.67
billion, with net sales increasing to $12.7 billion from $11.5
billion.
The company maintained its outlook for 2018, with group net
sales expected to grow at a low to mid-single digit rate. Novartis
expects group core operating income to grow by a mid to high-single
digit rate.
Separately, Novartis said it appointed John Tsai as chief
medical officer and head of global drug development. Dr. Tsai will
join Novartis on May 1 and become a member of the executive
committee.
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com
(END) Dow Jones Newswires
April 19, 2018 01:42 ET (05:42 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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