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Financial Report: Novartis 3Q

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novartis


3Q Revenues: $10.7 billion (+12%)


3Q Earnings: $2.1 billion (+32%)


YTD Revenues: $31.4 billion (+12%)


YTD Earnings: $6.7 billion (+19%)


Comments: Pharmaceutical sales were $6.7 billion in the quarter, up 14% (9% in local currencies). Growth was driven by the oncology and cardiovascular franchises as well as $800 million in sales from recently launched products, Lucentis, Aclasta/Reclast, Exforge, Tekturna/Rasilez, Exjade and Exelon Patch. Oncology sales were $2.1 billion (+15% lc) driven by Gleevec/Glivec with $950 million in sales (+15% lc), Zometa with $360 million in sales (+9% lc) and Femara with $289 million in sales (+16% lc). Cardiovascular sales were $1.7 billion (+20% lc), driven by the new high blood pressure medicines Tekturna/Rasilez and Exforge as well as Diovan ($1.4 billion, +9% lc). Vaccines and diagnostics sales were up 16% to $666 million (+14% lc). Sandoz revenues were $1.9 billion, up 7% (flat in local currencies). 2007 results included an incremental environmental provision charge of $590 million to cover worldwide remediation plans.

 

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