Novartis announced earnings and sales growth in the first quarter of the year, as its core drugs were the ones driving higher activity and Sandoz, the division of generic drugs, continued to normalize after coronavirus problems.
The Swiss pharmaceutical company reported net profit of $ 2.22 billion in the quarter, up from $ 1.80 billion a year earlier, while sales rose to $ 12.53 billion from $ 12.41 billion.
Operating profit rose to $ 2.85 billion from $ 2.42 billion a year ago, while earnings per share stood at $ 1.46, up from $ 1.38.
The figures do not include the impact of the sale of Roche’s stake in 2021.
The company’s brand unit, Sandoz, grew 8% in fixed currency as business dynamics continue to normalize from the impact of the pandemic.
The company expects both sales and key operating profits to increase by an average single-digit rate in 2022.
Source: Capital
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