Novartis Blockbuster Drug Rebounds, Easing Generics Pressure
Novartis CEO Vas Narasimhan discusses drug pricing, government policy and plans to spin off the Alcon eye-care unit.
(Source: Bloomberg)
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Novartis AG saw sales of one of its key drugs rebound last quarter, helping counter the impact of cheaper copycats on older products.
Cosentyx’s sales increased 40 percent to $701 million in the second quarter, the Basel, Switzerland-based company said, exceeding analysts’ forecasts. Profit beat estimates in the period, allowing Novartis to reiterate its full-year forecast.