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July 18, 2011

Novartis Posts Strong Q2 Results

Novartis has posted strong second quarter results, which saw both sales and profit increase over corresponding 2010 figures. Net sales rose 27% year on year to $28.9bn, while net profit rose 12% to $2.76bn, with the newly acquired Alcon contributing $2.6bn in net sales. T

By cms admin

Novartis has posted strong second quarter results, which saw both sales and profit increase over corresponding 2010 figures.

Net sales rose 27% year on year to $28.9bn, while net profit rose 12% to $2.76bn, with the newly acquired Alcon contributing $2.6bn in net sales.

The firm was, however, hit by a loss of revenue from the company’s vaccines and diagnostics unit, with revenues falling 47% to $299m as the loss of H1N1 pandemic-related income was felt.

Novartis chief executive Joseph Jimenez said: “Our diversified healthcare portfolio, focused on high growth segments, is enabling us to generate superior results.”

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