Novartis Q4 net profit rises to $2.0 billion

January 29, 2014 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.

Explore further: New drugs shore up Novartis in Q2

Related Stories

New drugs shore up Novartis in Q2

July 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 and the strengthening ...

Novartis Q4 net profit rebounds to $2.1 billion

January 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.

Swiss pharma Novartis ups full-year sales outlook (Update)

October 22, 2013

Swiss pharmaceutical giant Novartis AG raised its full-year sales outlook because of delays in generic competition to its blockbuster blood pressure drug Diovan, even though it said negative currency trends contributed to ...

Pfizer's 4Q net plunges on charges, sales decline

January 28, 2014

Drugmaker Pfizer said Tuesday that fourth-quarter profit plunged 59 percent because of discontinued operations, restructuring and other charges, and generic competition continuing to siphon off revenue from former blockbuster ...

Recommended for you

Sustaining biomedical research: Med school deans speak out

May 27, 2015

Cuts in federal support and unreliable funding streams are creating a hostile work environment for scientists, jeopardizing the future of research efforts and ultimately clinical medicine, according to leaders of the nation's ...


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.