15-06-2010 Novartis delivers strong financial performance in second quarter, underpinned by increased momentum in innovation
July 15, 2010
Novartis delivers strong financial performance in second quarter, underpinned by increased momentum in innovation.
- Double-digit growth in the second quarter with excellent contributions from all divisions
Net sales up 11% (+12% in constant currencies, or cc) to USD 11.7 billion; first half up 18% (+15% cc) to USD 23.8 billion Operating income grows 25% (+24% cc) to USD 3.0 billion; core operating income up 23% (+23% cc) to USD 3.3 billion
Core margin improves by 2.7 percentage points to 28% of net sales
EPS up 18% (+17% cc) to USD 1.06; core EPS rises 14% (+14% cc) to USD 1.20
Free cash flow before dividends up 24% (USD 2.4 billion); first half free cash flowup 54% to USD 5.3 billion - Strong performance driven by continued portfolio rejuvenation and innovation
Unanimous FDA Advisory Committee recommendation for FTY720 approval as therapy for multiple sclerosis
US approval of Tasigna as first-line therapy for chronic myeloid leukemia
Group’s recently launched products contribute 21% of net sales (USD 2.4 billion); USD 5.5 billion for first half
Oncology franchise showcased at ASCO with 170 abstracts highlighting investigational uses of current therapies and new agents
