Novartis confident on growth but quiet on Roche stake sale rumors

26 May 2016

Novartis (NOVN: VX) has expressed confidence that it can achieve long-term sustainable growth despite missing first-quarter 2016 sales forecasts.

The company has also declined to comment on speculation that it is looking to free up funds by selling its $14 billion stake in fellow Swiss pharma giant Roche (ROG: SIX).

Generic competition was one of the factors blamed for Novartis’ slump in sales in 2016’s first quarter, which dropped by 3% to $11.6 billion, falling below analysts’ estimates of $11.89 billion.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK