Novartis sees 16% sales jump in first three qtrs of 2006 beating consensus estimates
Novartis says that its net income for the first nine months of 2006 rose 16% on the comparable year-ago period, to $5.5 billion, beating analysts consensus estimates. The Swiss drug major saw strong earnings per share, with a rise of 15% to $2.36.
For third-quarter 2006, analysts at Lehman Brothers predicted profits of $1.66 billion, which the firm outpaced at $1.87 billion. During the quarter, net sales jumped 13% to reach $9.48 billion, while operating income rose 11% to $2.09 billion. The Basle-headquartered firm said that, excluding its acquisition of US biotechnology company Chiron (Marketletter April 10), operating income rose 24%.
Pharma sales lead 13% sales rise
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