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Financial Report: Novartis

Revenues up 10% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Novartis
1Q Revenues: $12.7 billion (+10%)
1Q Earnings: $2.0 billion (+22%)
Comments: Novartis Pharmaceuticals (Immunology, Hepatology & Dermatology) sales were $5.2 billion in the quarter. Cosentyx sales were $580 million, up 35% cc. Ilaris sales were $126 million, up 47% cc. In Cardio-Metabolic, Entresto sales were $200 million, up 126% cc. In Neuroscience, Gilenya sales were $821 million, up 8% cc. Respiratory sales were $433 million, up 7% cc driven by continued growth of Xolair with $255 million in sales, up 14%. Ophthalmology sales were $1.2 billion, down 5% cc  due to generic erosion in the U.S., partly offset by growth of Lucentis with $520 million in sales, up 7% cc. Oncology BU sales increased 6% cc to $3.2 billion. Growth was mainly driven by Promacta/Revolade with $257 million in sales, up 41% cc, and Tafinlar + Mekinist sales of $267 million, up 33% cc, Jakavi sales of $234 million, up 30% cc, and Tasigna sales of $466 million, up 8% cc, partly offset by Gleevec/Glivec erosion with sales down 32% cc to $392 million. Generic competition had a negative impact of 3 percentage points largely due to Gleevec/Glivec in the U.S. and Europe and some Ophthalmology products.

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