Novartis’s Q4 sales met our expectations, coming in flat at CER to $12.3bn, taking the full-year sales to $48.5bn (again flat yoy). Volume growth of 6ppts was nullified by the 4ppts loss to generics and 2ppts loss to pricing during the quarter. The strong dollar scooped out another 2ppts at the reported level. All revenue growth numbers at CER, unless specified otherwise. Generic erosion of Gleevec/Glivec led the decline in Innovative medicines (-1% for Q4 and nearly flat sales for the
01 Feb 2017
2017 to look like 2016...disappointing; buy-back provides a cushion
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2017 to look like 2016...disappointing; buy-back provides a cushion
Novartis AG (0QLR:LON) | 0 0 0.7% | Mkt Cap: 208,186m
- Published:
01 Feb 2017 -
Author:
Kamla Singh -
Pages:
4
Novartis’s Q4 sales met our expectations, coming in flat at CER to $12.3bn, taking the full-year sales to $48.5bn (again flat yoy). Volume growth of 6ppts was nullified by the 4ppts loss to generics and 2ppts loss to pricing during the quarter. The strong dollar scooped out another 2ppts at the reported level. All revenue growth numbers at CER, unless specified otherwise. Generic erosion of Gleevec/Glivec led the decline in Innovative medicines (-1% for Q4 and nearly flat sales for the