Novartis Q1 sales, core operating profit and net profit meets 2020 targets

Profits and first quarter sales of Swiss drugmaker Novartis have met their 2020 targets following sales at its generics unit continuing through the coronavirus lockdown without disruptions its business.

Novartis’ core net income rose to $3.55 billion, up from $2.8 billion in 2019 and compared to the average analyst forecast in a Refinitiv poll of $3.17 billion. Its sales also rose to $12.3 billion from a $11.1 billion a year ago, above the poll average of $12 billion.

The company’s net income rose by 16% to $2.2 billion, up from $1.9 billion from a year ago.

Basel-based Novartis expects its revenue to grow at a mid- to high-single-digit percentage rate; it also expects the growth rate of its core operating profit to grow faster at a high-single rate.



Categories: Uncategorized

Tags: , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: