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Financial Report: Novartis

Product growth helps offset impact of Diovan and Zometa generics

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novartis

2Q Revenues: $14.5 billion (+1%)

2Q Earnings: $2.5 billion (-5%)

YTD Revenues: $28.5 billion (+2%)

YTD Earnings: $5.0 billion (+1%)

Comments: Pharmaceuticals sales were $8.1 billion in the quarter, down 2%. Gilenya, Afinitor, Tasigna, Galvus, Xolair, the Q Family and Jakavi contributed $4.5 billion or 31% of group sales, up 13%. Generics impacted sales by approximately $0.8 billion due to Diovan and Zometa, but a U.S. generic for Diovan has yet to be approved by FDA, forestalling a more dramatic drop in sales. Alcon sales increased 3% to $2.7 billion, led by growth in the Surgical franchise (+5%). Sandoz sales increased 3% to $2.2 billion driven by the Fougera acquisition and increases in retail generics and biosimilars sales. Vaccines and Diagnostics sales were $411 million, up 18% driven by seasonal influenza vaccines and bulk pediatric shipments. Consumer Health, which comprises OTC and Animal Health, had sales of $1.0 billion (+11%).

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