Novartis said sales and profits fell in the second quarter and the group backed its 2022 guidance.
The Swiss pharmaceutical group reported net profit of $1.69 billion, down from $2.89 billion a year ago.
Core operating income was $4.27 billion in the quarter, down from $4.35 billion a year ago.
Sales were $12.78 billion, up from $12.96 billion a year ago, Novartis said, while in constant currency sales rose 5 percent.
Analysts had expected net income of $3.23 billion and sales of $12.6 billion in the quarter.
The company’s generics division, Sandoz, reported a 5% increase in sales in constant currency.
The company maintained its 2022 guidance, restating that it expects group sales for the year to grow by a mid-single-digit rate, and core operating income to rise by a mid-single-digit rate.
Source: Capital
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