Novartis to slash jobs, as 3rd-qtr sales leap 18% and net income rises 7%
Swiss drug major Novartis (NOVN: VX) reported third-quarter 2011 results with 18% (12% at constant currencies) growth in net sales to $14.8 billion, in line with analysts’ expectations. Pharmaceuticals net sales grew 9% (+3% cc) to $8.2 billion, ophthalmic unit Alcon pro forma net sales grew 12% (+7% cc) to $2.5 billion and generics business Sandoz net sales grew 6% (+1% cc) to $2.3 billion.
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