Novartis 4Q Earnings, Sales Rose; Increases Dividend
February 02 2022 - 2:01AM
Dow Jones News
By Cecilia Butini
Novartis AG on Wednesday reported higher earnings and sales for
the fourth quarter and raised its dividend for 2021, citing a good
performance from its key growth drivers and benefits from the sale
of its investment in Roche Holding AG.
Net income at the Swiss pharma major came in at $16.31 billion
for the quarter up from $2.1 billion the previous year, benefiting
from the sale of Novartis's stake in Roche.
Core operating income, or income excluding extraordinary items,
also rose in the quarter, reaching $3.82 billion from $3.50 billion
the year prior. Earnings per share increased to $7.29 from $0.92 in
the fourth quarter of 2020, and core EPS rose to $1.40 from $1.34,
the company said.
Sales grew to $13.23 billion from $12.77 billion in the same
quarter of 2020, driven by a strong performance in its Innovative
Medicines division, Novartis said.
The company proposed an increased dividend for 2021 of 3.10
Swiss francs ($3.37) a share, up from CHF3 a share.
Looking ahead, Novartis said it expects sales and operating
income to grow mid-single digit.
The strategic review of generic division Sandoz is progressing,
it added, and it expects to provide an update at the end of 2022 at
the latest.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
February 02, 2022 01:46 ET (06:46 GMT)
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