Thursday 25 October 2012

Novartis third-quarter sales miss expectations

The logo of Swiss drugmaker Novartis is seen on the top of an office building at the company's plant in Basel ZURICH (Reuters) - Swiss drugmaker Novartis posted worse-than-expected third quarter sales on Thursday, dragged down by the loss of a U.S. patent on its top-selling blood pressure drug Diovan and tough comparisons at its Sandoz unit. Third-quarter net sales fell 2 percent to $13.807 billion, falling short of the average forecast in a Reuters poll of $14.032 billion, while core earnings per share fell 6 percent to $1.34, bang in line with consensus. Like many rivals, Novartis is facing headwinds from a wave of patent expiries sweeping through the global pharmaceutical industry. ...




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