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Earnings per share amounted to $ 1.77 at the end of the reporting period against $ 1.72 a year earlier. Novartis had sales of $ 23.63 billion in six months, up 3.3% from a year ago.
In the second quarter, the company's net profit was $ 1.867 billion, down 11.5% from the second quarter a year earlier. Earnings per share were $ 0.82 versus $ 0.91 a year ago. The company's sales fell 3.5% to $ 11.347 billion.
The forecast for sales for the current year was downgraded to 4-6% instead of 4-9%, which were expected in April.
"We continue to direct our efforts to support the response to the COVID-19 pandemic. Our growth drivers and launches remain strong, Cosentyx and Entresto are increasing market share in the US," Novartis CEO Vasant Narasimhan said in a statement.
Novartis International AG, founded in 1996 in Basel, Switzerland, ranks second in the pharmaceutical market in Europe. The company operates in 155 countries.
source: bloomberg.com
In the second quarter, the company's net profit was $ 1.867 billion, down 11.5% from the second quarter a year earlier. Earnings per share were $ 0.82 versus $ 0.91 a year ago. The company's sales fell 3.5% to $ 11.347 billion.
The forecast for sales for the current year was downgraded to 4-6% instead of 4-9%, which were expected in April.
"We continue to direct our efforts to support the response to the COVID-19 pandemic. Our growth drivers and launches remain strong, Cosentyx and Entresto are increasing market share in the US," Novartis CEO Vasant Narasimhan said in a statement.
Novartis International AG, founded in 1996 in Basel, Switzerland, ranks second in the pharmaceutical market in Europe. The company operates in 155 countries.
source: bloomberg.com
