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Financial Report: Novartis 1Q08

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novartis 

1Q Revenues: $9.9 billion (+9%)

1Q Earnings: $2.3 billion (+10%)

Comments: Pharmaceuticals sales were up 6% to $6.3 billion. Key drivers included Diovan, up 11% to $1.4 billion, and contributions from the rollout of the new high blood pressure medicines Exforge and Tekturna/Rasilez, approved in 2007. Exforge sales were $72 million and Tekturna/Rasilez sales were $28 million in the quarter. Cardiovascular franchise sales fell 3% to $1.6 billion. Growth in the quarter reflects contributions from Sandoz, Consumer Health and Vaccines and Diagnostics, up 12%, 14% and 21% respectively.

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