Novartis Third-Quarter Profit Climbs on New Products
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Novartis AG, the world’s biggest drugmaker by sales, reported third-quarter profit that beat analysts’ estimates as revenue growth in new drugs more than offset sales lost to generic competition.
Earnings excluding some items increased 9 percent to $3.35 billion, or $1.37 a share, from $3.06 billion, or $1.24, Basel, Switzerland-based Novartis said in a statement today. Analysts forecast profit of $1.32 a share, the average of 12 estimates compiled by Bloomberg. Novartis repeated its full-year sales and profit forecasts.