The strong dollar along with sluggishness in the Alcon business spoilt an otherwise decent Q3 for Novartis. Q3 sales were up 6% (all growth figures at CER unless specified) to $12.3bn, with volume growth of 11% being offset to some extent by generic erosion of 3% and pricing pressure of 2%. Core operating income increased 14% to $3.5bn (margin improved 2.2ppts). Currency continued to be unforgiving, knocking off 12% from sales and 17% from core operating income, resulting in a decline of 6% a
15 Dec 2015
Pharma and Sandoz encouraging but Alcon remains a drag
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Pharma and Sandoz encouraging but Alcon remains a drag
Novartis AG (0QLR:LON) | 0 0 0.7% | Mkt Cap: 208,186m
- Published:
15 Dec 2015 -
Author:
Kamla Singh -
Pages:
3
The strong dollar along with sluggishness in the Alcon business spoilt an otherwise decent Q3 for Novartis. Q3 sales were up 6% (all growth figures at CER unless specified) to $12.3bn, with volume growth of 11% being offset to some extent by generic erosion of 3% and pricing pressure of 2%. Core operating income increased 14% to $3.5bn (margin improved 2.2ppts). Currency continued to be unforgiving, knocking off 12% from sales and 17% from core operating income, resulting in a decline of 6% a