Novartis' 1st-qtr 2009 results boosted by new products

Swiss drug major Novartis' first-quarter profit was ahead of expectations at $1.96 billion, a 15% drop year-on-year due to the  strength of the US dollar, while sales fell 2% to $9.71 billion.

Pharmaceutical sales rose 3% to $6.4 billion as new product launches  helped to counteract foreign exchange effects. On the day the results  were announced, April 23, shares in the firm rose 1.2% to 42.10, while  other drug majors reporting declined.

Novartis' drug division achieved 12% growth in local currencies thanks  to double-digit increases in all regions and recently-launched products  nearly doubling their contribution from the year-ago quarter. US  revenues jumped 13% to $2.2 billion, while Japan contributed $724.0  million, up 14% in local currencies. In Europe, sales grew 11% to $2.30  billion, while the emerging markets of Brazil, China, India, Russia,  South Korea and Turkey earned $550.0 million, up 20%.