Novartis' 1st-qtr 2007 profit up 11% to $2.17B on strong sales of cancer drugs and Diovan
Swiss drug major Novartis says that its first-quarter 2007 profit rose 11% on the like, year ago period, to $2.17 billion, as total revenues jumped 18% to $9.82 billion, boosted by strong sales of its cancer drugs and the blood pressure medication Diovan (valsartan).
The firm noted that, during the quarter, income growth outstripped profit because the comparable period last year was boosted by a $129.0 million gain from the sale of its medical nutrition business to Nestle (Marketletter December 18, 2006).
Drug sales up 17% in 1st-qtr 2007
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