Novartis' net sales jump 11% to $12.28B in Q1

Tuesday, 28. April 2020 07:05

Novartis announced on Tuesday that its net sales in the first quarter of 2020 stood at $12.28 billion, climbing 11% from the same period a year ago and topping market estimates. Earnings per share (EPS) soared 19% year on year to $0.96 and net income was up 16% to $2.17 billion.

Core EPS soared 29% to $1.56 and core net income amounted to $3.55 billion in the three month period. Operating income rose 22% to $2.74 billion. The pharmaceutical giant noted it is taking part in "multiple collaborative R&D efforts" and large scale clinical trials in response to the COVID-19 pandemic.

"We continue to deliver our medicines to patients and advance our innovative pipeline as reflected in our strong operational performance in Q1. While there are many uncertainties for the coming year, we are maintaining our full year outlook at this time and will continue to play our part to overcome the pandemic," CEO Vas Narasimhan said.

Related Links: Novartis AG
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Breaking the News / NP