Skip to content
Subscriber Only

Novartis Profit Misses Estimates; Forecast Confirmed

Novartis AG, the world’s largest drugmaker by revenue, reported second-quarter profit that missed analysts’ estimates, dragged down by declining sales and a worsening loss in the vaccine division it’s selling.

Earnings excluding some items increased 3 percent to $3.28 billion, or $1.34 a share, Basel, Switzerland-based Novartis said in a statement today. The result fell short of the $1.37 a share average forecast from 11 analysts compiled by Bloomberg. Novartis repeated its full-year sales and profit forecasts.