Novartis 3Q Earnings, Sales Grow; Announces Strategic Review of Generics Division
October 26 2021 - 1:57AM
Dow Jones News
By Cecilia Butini
Novartis AG said Tuesday that earnings and sales grew on-year in
the third quarter and announced a strategic review of its generics
division Sandoz, which could include separation of the
business.
The Swiss pharma major posted net profit of $2.76 billion for
the quarter, up from $1.93 billion the year prior, on sales which
grew to $13.03 billion from $12.26 billion in the third quarter of
2020.
Operating profit was $3.23 billion, compared with $2.41 the
previous year, and earnings per share came in at $1.23, versus
$0.85 the previous year. Core operating income grew to $4.47
billion in the quarter from $4.07 billion the previous year.
Regarding its generics division Sandoz, the company said that it
has commenced a strategic review that will explore all options,
ranging from retaining the business to separation.
Looking at the rest of the year, Novartis backed a previously
given guidance, saying that it expects sales to grow by low- to
mid-single digit and core operating income to grow by mid-single
digit.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 26, 2021 01:42 ET (05:42 GMT)
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