U.S. sales help Novartis consumer segment
This article was originally published in The Tan Sheet
Executive SummaryOTC sales growth helps drive Novartis' Consumer Health revenues up 7 percent to $1.5 billion in the firm's fiscal 2010 second quarter. The Asia-Pacific/Africa region and the U.S. led consumer sales growth at 13 percent and 11 percent, respectively, according to the Swiss firm's July 15 earnings release. Novartis said pain relief medicines, particularly Excedrin in the U.S. and Voltaren in Europe, were key contributors to OTC sales growth, but a "weak" cough and cold season in the January-March period slightly offset growth in that area. The firm added that advertising and promotions continue to expand U.S. market share for Prevacid 24HR, the OTC proton pump inhibitor it launched in late 2009 (1"The Tan Sheet" April 26, 2010, In Brief). Novartis, which was the first major pharmaceutical firm to report second-quarter results in an unusually volatile global economic environment, said overall sales rose 12 percent to $11.7 billion, and net income increased 18 percent to $2.4 billion
You may also be interested in...
Sanofi seeks to delay decision clearing path for Mylan's Lantus biosimilar; says it should be able to get rehearing based on Federal Circuit's ruling that PTAB judges were not constitutionally appointed.
First Circuit reverses dismissal of direct purchasers' suit alleging improper listing of patent on device drive mechanism delayed competition; district court to decide if this constitutes antitrust violation.