Novartis Q1 sales up 5% to $12.53 billion

Tuesday, 26. April 2022 07:07

Novartis International AG said on Tuesday its net revenue increased by 5% in the first quarter of this year compared to the same trimester of 2021 to reach $12.53 billion. The company's operating income jumped 26% to $2.85 billion, led mainly by higher sales, increased productivity and lower impairments. Including the impact of Roche's investment, Novartis' net income expanded 15% to $2.22 billion or earnings per share of $1.46.

"Novartis delivered solid growth to start 2022, driven by our in-market key growth brands... The new organizational structure we announced is central to our growth strategy as a focused medicines company, making us more agile and competitive, enhancing patient and customer orientation, unlocking potential in our R&D pipeline, and driving value-creation through operational efficiencies," CEO Vas Narasimhan noted.

The Swiss pharma company confirmed full-year guidance concluding the report.

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Author:
Baha Breaking News (BBN) / ND