Swiss drugmaker Novartis said on Wednesday sales as well as profit rose inside the second quarter, as demand for its psoriasis-as well as-arthritis medicine as well as heart-failure drug offset weakness at the Sandoz generics unit.
The company’s core operating profit rose 7 percent to $3.541 billion, compared with average forecast of $3.46 billion in a Reuters poll. Sales climbed 5 percent to $13.158 billion compared with forecast of $12.92 billion.
As the demand for its psoriasis-as well as-arthritis Cosentyx drug as well as heart-failure medicine Entresto rose, the company confirmed 2018 outlook, lifting expectations for its Alcon eye-care business. However, Novartis lowered forecast for Sandoz as pricing pressure on its U.S. pills business takes a toll.
Novartis Chief Executive Vas Narasimhan will be counting on sales as well as profit to rise This particular year as Cosentyx accelerates as well as as Alcon, which he plans to spin off next year to investors, recovers coming from a years-long slump.