Novartis' Nine-Month Drug Sales Climb 26%

Novartis, the Swiss life sciences group, has posted impressive sales forthe first nine months of 1997, advancing 21% in Swiss francs, or 8% in local currency, to 23.9 billion Swiss francs ($16.5 billion). The company says that all divisions contributed to the growth, but notes the particularly strong performance of its pharmaceutical business, which rose to 10.6 billion francs, a jump of 26% in Swiss francs, or 12% in local currencies.

Factors driving pharmaceutical growth included what Novartis describes as "an outstanding performance" in the USA. Products that made strong advances were the antifungal Lamisil (terbinafine), up 64%, the lipid-lowerer Lescol (fluvastatin), up 49%, the anticancer agent Aredia (pamidronate), up 86%, and the antiasthma treatment Foradil (formoterol), up 67%. Combined turnover of Sandimmum and Neoral (both ciclosporin), used in transplants and to treat autoimmune diseases, posted an increase of 9%.

Analysts Impressed By Results Analysts at Goldman Sachs noted that pharmaceutical sales at Novartis were driving well above the industry average and described the results as "excellent". They added that the stock "firmly remains" on its global priority list, and compares favorably with arch-rivals Roche, Zeneca and Monsanto.