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Financial Report: Novartis

Innovative Medicines sales up 2% in the quarter, partially offset by generic competition for Gleevec

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By: Kristin Brooks

Managing Editor, Contract Pharma

Novartis
3Q Revenues: $12.4 billion (+2%)
3Q Earnings: $2.1 billion (+7%)
YTD Revenues: $36.2 billion (flat)  
YTD Earnings: $5.7 billion (-1%)
Comments: Innovative Medicines sales were $8.3 billion, up 2% in the quarter. Volume contributed 8 percentage points to sales growth. Generic competition had a negative impact of 6 percentage points largely due to Gleevec/Glivec generics in Europe and the U.S. Growth in the quarter was driven by Cosentyx ($556 million, +83% cc), Entresto ($128 million, +138% cc), Promacta/Revolade ($227 million, +36% cc), Tasigna ($482 million, +12% cc), Tafinlar + Mekinist ($224 million, +27% cc), and Jakavi 201 million, +31% cc), as well as Biopharmaceuticals and Emerging Growth Markets. Gilenya sales were flat at $801 million in the quarter. Sandoz sales were $2.6 billion, up 3% in the quarter, as volume growth of 8 percentage points was offset by 7 percentage points of price erosion. Alcon sales were $1.5 billion, up 6% in the quarter, with growth in Surgical sales and Vision Care sales.

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