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Financial Report: Novartis

Product growth helps offset impact of Diovan and Zometa generics

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novartis 2Q Revenues: $14.5 billion (+1%) 2Q Earnings: $2.5 billion (-5%) YTD Revenues: $28.5 billion (+2%) YTD Earnings: $5.0 billion (+1%) Comments: Pharmaceuticals sales were $8.1 billion in the quarter, down 2%. Gilenya, Afinitor, Tasigna, Galvus, Xolair, the Q Family and Jakavi contributed $4.5 billion or 31% of group sales, up 13%. Generics impacted sales by approximately $0.8 billion due to Diovan and Zometa, but a U.S. generic for Diovan has yet to be approved by FDA, forestalling a...

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