Pharmaceuticals drive growth at Novartis

The Basel-based Novartis group reports a strong operational performance in the first half of 2009, driven by its pharmaceuticals division.

This content was published on July 16, 2009 minutes

Novartis said net sales for the first six months were $20.3 billion (SFr21.87 billion), an increase of eight per cent in local currencies but a decline of two per cent in dollars over the comparable period last year.

Net income for the first half was down by 12 per cent at $4.02 billion.

Announcing its second-quarter results on Thursday, Novartis said its net profit from April to June fell ten per cent, hurt by the dollar's strength against the euro.

It dropped to $2.04 billion from $2.25 billion a year earlier, in line with analysts' expectations.

"I am pleased that our pharmaceuticals business continues to deliver double-digit underlying growth driven by the strong momentum of our recently launched products.

"Our pipeline continues to deliver a steady stream of innovative medicines."

Novartis is aiming to produce and commercialise a vaccine against the A/H1N1 swine flu virus and expects clinical trials to begin in July. with agencies

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