Novartis misses estimates but backs 2022 guidance

25 October 2022
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Sales and income were both down at Swiss pharma giant Novartis (NOVN: VX) for the third quarter of 2022, with the company missing analyst estimates on both measures.

Net sales slumped by 4% to $12.54 billion, where the consensus view of market analysts was for $12.9 billion.

Third-quarter group core operating income also declined 4%, coming in at $4.28 billion, slightly below the $4.3 billion predicted by analysts.

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