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Financial Report: Novartis

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novartis 4Q Revenues: $9.9 billion (+6%) 4Q Earnings: $931 million (-42%) YTD Revenues: $39.8 billion (+8%) YTD Earnings: $12.0 billion (+66%) Comments: U.S. pharmaceutical sales were down 21% in the quarter, due to the withdrawal of Zelnorm and generic competition for hypertension drug Lotrel. Earnings in the quarter were also impacted by a $444 million restructuring charge, as a result of 2,500 job cuts. The company hopes to save $1.6 billion in costs each year by 2010. Results ...

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