Novartis reported a strong start to the year, largely meeting our expectations with sales growing by 7% to $11.1bn. A substantial portion of the growth came from the non-oncology side (+11%) of innovative medicines, while Sandoz (-2%), remained under pricing pressure in the US – 7ppts of volume growth washed out by 9ppts of price erosion. Management upgraded the core operating income growth guidance from mid-to-high single-digit to high single-digit.
25 Apr 2019
Strong operational execution but Zolgensma worrisome
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Strong operational execution but Zolgensma worrisome
Novartis AG (0QLR:LON) | 0 0 0.7% | Mkt Cap: 208,186m
- Published:
25 Apr 2019 -
Author:
Kamla Singh -
Pages:
4
Novartis reported a strong start to the year, largely meeting our expectations with sales growing by 7% to $11.1bn. A substantial portion of the growth came from the non-oncology side (+11%) of innovative medicines, while Sandoz (-2%), remained under pricing pressure in the US – 7ppts of volume growth washed out by 9ppts of price erosion. Management upgraded the core operating income growth guidance from mid-to-high single-digit to high single-digit.