Health
Novartis Heart, Cancer Drugs Post Disappointing Sales Growth
- Drugmaker lifts profit guidance for third consecutive quarter
- Sales seen growing by low-double-digit percentage this year
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Novartis AG’s best-selling drug and a key new cancer medicine posted disappointing sales last quarter, even as the Swiss drugmaker lifted profit guidance for a third straight quarter.
Sales of heart failure medication Entresto fell short of expectations, while closely watched cancer drug Pluvicto only beat estimates because of a one-time gain. The results pushed Novartis shares down as much as 4.3% in early Swiss trading, paring the rise this year to 15%.