Novartis' Q4 revenue hits expected $13.23 billion

Wednesday, 02. February 2022 07:09

Novartis International AG said on Wednesday its fourth-quarter net sales annually increased by 6% to reach $13.23 billion, meeting market expectations. While the company's operating income stood mostly unchanged at $2.56 billion, its net income soared to $16.31 billion or $1.40 core earnings per share.

Commenting about the 2022 outlook, Novartis revealed that group sales and core operating income are expected to grow mid-single digit, with sales set to expand mid-single digit. Core operating income is also expected to grow mid to high single-digit, ahead of sales, the statement concluded.

"Novartis delivered another year of solid operational performance with mid-single digit top-line growth, margin expansion, and strong free cash flow. Our in-market growth drivers continue to perform well across geographies, supporting our confidence in our mid and long-term growth outlook," CEO Vas Narasimhan noted in the report.

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Author:
Baha Breaking News (BBN) / ND