Novartis Q4 EPS down to $0.5

Wednesday, 29. January 2020 07:07

Pharmaceutical company Novartis International AG's earnings per share (EPS) landed at $0.5 in the last quarter of 2019, showing a decrease of 6% compared to the same period the year before. Net income fell 7% to $1.12 billion, while net sales rose by 8%, reaching the number of $12.4 billion, the company revealed on Wednesday.

The Swiss-based company booked revenues of $47.44 billion in the past year, which is 6% more year-on-year. Net income decreased by 44% to $7.14 billion from 2018's $12.8 billion, while the EPS for the full-year 2019 stood at $3.12, ensuring a 43% decrease.

CEO of Novartis Vas Narasimhan said: "Novartis delivered an exceptional 2019. Strong sales growth drove double digit increases in core operating income and free cash flow. Significant margin expansion puts us on track to reach mid to high 30s core margin for Innovative Medicines in the mid-term. We launched an unprecedented 5 new molecular entities in 2019 and advanced a breadth of early programs in our pipeline that address significant unmet needs. Looking ahead, we expect to sustain our long-term growth and margin expansion driven by our in market growth drivers and the 15 ongoing or upcoming major launches, while advancing our rich pipeline."

The company closed 2.07% in the green on Tuesday.

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Breaking the News / NL