(Il Sole 24 Ore Radiocor) - Milano, 28 apr - Swiss pharmaceutical company Novartis said its first quarter net sales were 13.113 billion dollars, down a reported 1% and 5% lower at constant currencies, with volume contributing 13 percentage points to growth, more than offset by 14 percentage points of generic competition. Pricing had a negative impact of 4 percentage points, including net 1 percentage point from revenue deduction adjustments in the US, and currency had a positive impact of 4 percentage points.

Core operating income was 4.897 billion dollars, down a reported 12% and a constant currency 14%, reflecting lower net sales and higher R&D investments. The core operating income margin was 37.3% of net sales, decreasing 4.8 percentage points, or 4.1 percentage points in constant currencies.

Core net income was 3.794 billion dollars, down a reported 15% and a constant currency 17%, mainly due to lower core operating income. Core earnings per share were 1.99 dollars, down a reported 13% and a constant currency 15% due to lower core net income, partly offset by the benefit of the lower weighted average number of shares outstanding.

Free cash flow amounted to 3.3 billion dollars, broadly in line with the prior-year quarter.

Novartis confirmed its full year guidance of net sales growing by a low single-digit and core operating income expected to.

decline low single-digit.

(RADIOCOR) 28-04-26 08:05:16 (0098) 5 NNNN