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Novartis Q1 results

This article was originally published in The Tan Sheet

Executive Summary

Strong first-quarter sales of cough/cold products including Theraflu were "partially offset by a shrinking smoking-cessation market in Europe," Novartis said in an April 21 release. The firm's net consumer sales rose 9% to $1.7 bil. due in part to double-digit growth in the medical nutrition and OTC drug businesses; increased volumes accounted for 5% of the growth, currency exchange for 3% and acquisitions for 1%. Novartis' overall sales advanced 11% to $7.3 bil. with net earnings up 16% to $1.4 bil...
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