Now sees FY net sales up high single, low double digits (Il Sole 24 Ore Radiocor) - Bern, 23 Apr - Swiss pharmaceutical company Novartis said that in the first quarter sales rose a reported 10% and a constant currency 11% to 11.829 billion dollars with volume contributing 14 percentage points to growth. Generic competition had a negative impact of 2 percentage points and pricing had negative impact of 1 percentage point.

Core operating income rose 16% and 22% at constant currencies to 4.537 billion dollars for a margin of 38.4%, up a constant currency 340 basis points mainly driven by higher net sales.

Core earnings per share increased 17% and a constant currency 23% to 1.80 dollars.

Novartis upped its full year net sales guidance, with growth by a high-single to low double-digit compared with a previous guidance of a mid-single-digit rise. Core operating income is now expected to grow low double-digit to mid-teens compared with a previous forecast of a high single digit rise.

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(RADIOCOR) 23-04-24 08:34:25 (0175) 5 NNNN