Novartis sales and earnings
This article was originally published in The Tan Sheet
Novartis' health care portfolio helps it achieve a record $39.8 billion in net sales in 2007, an 8 perent increase, the firm announced Jan. 17. Novartis attributes its success in part to its OTC and animal health performance - despite a weak cough and cold season in the U.S. - because of renewed focus on strategic brands, new product launches and expansions. Novartis' operating income also went up 15 percent to $85 million for consumer health continuing operations thanks to a better product mix and a reduction in operation costs, the Swiss firm says in a statement. Fourth quarter net sales grew 6 percent to $9.93 billion Consumer Health grew 14 percent to $1.41 billion, helping to offsest "negative developments in Pharmaceuticals in the U.S. and a weaker quarter in Vaccines and Diagnostics" that contributed to net income of $931 million, a 42 percent decrease from the prior-year quarter...
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