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Entry of generic Diovan limits growth
July 17, 2014
By: Kristin Brooks
Managing Editor, Contract Pharma
Novartis 2Q Revenues: $14.5 billion (+2%) 2Q Earnings: $3.3 billion (+3%) YTD Revenues: $28.5 billion (+2%) YTD Earnings: $6.5 billion (+2%) Comments: Pharmaceutical sales were $8.2 billion in the quarter (+1%). Growth was impacted by Japan, which saw a continued decline in Diovan sales, and in the U.S., Diovan inventory destocking ahead of the generic entry in July 2014 also impacted sales. Growth products generated $3.4 billion in sales, up 15%, and included Gilenya, Afinitor, Tasigna, Ga...
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