No surprises in Q3 from Novartis, with most of the dampeners, including Gleevec’s patent erosion in the US, being in the wash. Sales declined by 1% (all revenue growth numbers at CER, unless specified otherwise) to $12.1bn, marked by volume growth of 5%, nullified by generic competition (-4%) and an unfavourable pricing environment (-2%); there was no currency impact on sales during the quarter. The main defaulters were Gleevec/Glivec (-30%) and subdued growth in the Sandoz business (-1
03 Nov 2016
Uneventful performance
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Uneventful performance
Novartis AG (0QLR:LON) | 0 0 0.7% | Mkt Cap: 208,186m
- Published:
03 Nov 2016 -
Author:
Kamla Singh -
Pages:
4
No surprises in Q3 from Novartis, with most of the dampeners, including Gleevec’s patent erosion in the US, being in the wash. Sales declined by 1% (all revenue growth numbers at CER, unless specified otherwise) to $12.1bn, marked by volume growth of 5%, nullified by generic competition (-4%) and an unfavourable pricing environment (-2%); there was no currency impact on sales during the quarter. The main defaulters were Gleevec/Glivec (-30%) and subdued growth in the Sandoz business (-1