Novartis 4Q Profit, Sales Grew
January 26 2021 - 1:57AM
Dow Jones News
By Cecilia Butini
Novartis AG said Tuesday that net profit for the fourth quarter
grew on higher operating income and higher sales.
The Swiss pharmaceutical major posted net profit of $2.1
billion, up from $1.13 billion the previous year, while sales
increased to $12.77 billion in the quarter, from $12.40 billion for
the same period a year earlier.
A consensus forecast provided by FactSet had net profit at $2.77
billion and sales at $11.42 billion.
Core operating income, or income excluding extraordinary items,
came in at $3.50 billion, up from $3.46 billion the year prior,
Novartis said.
The company said coronavirus-related lockdowns throughout the
year hurt some of its therapeutic areas such as ophthalmology,
dermatology and the Sandoz retail business. However, it said its
operations remain stable with cash collection continuing to be
according to normal trade terms.
Key growth drivers in the quarter were, among other things,
heart-failure drug Entresto and psoriasis treatment Cosentyx,
Novartis said.
For 2021, the company guided for net sales growth in the
low-to-mid singe digit and for core operating income growth in the
mid-single digits.
The company proposed an increased dividend of 3 Swiss francs
($3.38) a share for 2020, it said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
January 26, 2021 01:42 ET (06:42 GMT)
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