Novartis earnings edge higher on Cosentyx, Entresto
2022.04.26 08:45
FILE PHOTO: The company’s logo is seen at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann/File Photo GLOBAL BUSINESS WEEK AHEAD
(Reuters) – Core operating income at Novartis edged 3% higher in the first quarter as sales growth from new drugs was partly offset by unfavourable currency effects.
Quarterly core operating income rose to $4.08 billion, up from $3.96 billion a year earlier, the Swiss drugmaker said on Tuesday.
Quarterly revenues from arthritis and psoriasis drug Cosentyx gained 12% in constant currencies to $1.16 billion, slightly below-above analysts’ average forecast of $1.19 billion, based on Refinitiv data.
Revenues from heart failure treatment Entresto jumped 42% to $1.1 billion, surpassing the market consensus of $1 billion.
($1 = 0.9207 Swiss francs)
