Novartis Q4 net profit rises to $2.0 billion

by John Heilprin

Swiss drug maker Novartis AG reported a 2 percent rise in fourth-quarter net profit Wednesday, helped by delays in generic competition to its blockbuster drugs.

The Basel, Switzerland-based company said it had a of $2.029 billion attributable to shareholders in the final three months of 2013, up from a restated $1.985 billion in the same period the previous year.

Chief Executive Joseph Jimenez said Novartis delivered a strong performance in 2013, growing both and core operating income in constant currencies while absorbing patent expirations.

"We maintained good momentum in innovation," he said in a . "Our growth products continued to expand, rejuvenating our portfolio and reinforcing our growth prospects."

Full-year net profit fell 1 percent to $9.175 billion attributable to shareholders, down from $9.27 billion in 2012. Net sales were up 4 percent despite the and core operating income grew 3 percent, both measured in constant currencies, Novartis said.

The financial statement was delivered before trading opened on the Zurich exchange, where shares closed at 71.3 Swiss francs ($79.3) Tuesday. Shares are up 14 percent from a year ago.

The company confirmed its outlook for 2014 sales growth is in the low to mid-single digits, assuming that the launch of a generic contender to the Novartis blockbuster blood-pressure drug Diovan is delayed until the second quarter.

Related Stories

Novartis Q4 net profit rebounds to $2.1 billion

date Jan 23, 2013

(AP)—Swiss drug maker Novartis AG reported a jump in fourth-quarter net profit to $2.08 billion on Wednesday, citing the lack of a $900-million one-time charge it took in the same period the previous year.

New drugs shore up Novartis in Q2

date Jul 19, 2012

(AP) — Swiss pharmaceutical company Novartis AG reported a net profit of $2.73 billion during the second quarter, as new drugs and acquisitions offset patent expirations, lower sales of generic medicines ...

Recommended for you

European court to rule on right-to-die case

date 15 hours ago

Europe's human rights court will on June 5 rule on whether a man in a vegetative state can be taken off life support, a case that has ignited a fierce euthanasia debate in France, a spokesman said Thursday.

Mechanical ventilation associated with long-term disability

date May 19, 2015

Critically ill patients who have been mechanically ventilated for more than seven days are at greatly increased risk for functional impairment and mortality at one year following discharge from the intensive care unit (ICU), ...

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.