Strong Pharmaceutical Growth Drives Novartis

Swiss company Novartis achieved sales in the first six months of 1997 of16.6 billion Swiss francs ($11.2 billion), an increase of 7% in local currencies or 19% in Swiss franc terms. The company said that the rise was driven by the strong turnover growth of pharmaceuticals and seeds.

Novartis' health care division posted turnover of 9.2 billion francs, up 8% in local currencies, or 21% in francs. Sales of pharmaceuticals grew 10% in local currencies and 23% in franc terms to 6.9 billion francs. There was dynamic drug increases seen in the USA and in Europe, the company noted, with particularly good growth in Spain. In contrast, sales in Japan and Germany were dampened by government measures to cut health care costs.

Pharmaceutical products making strong advances were the lipid-lowerer Lescol (fluvastatin), up 71%, the antifungal Lamisil (terbinafine), up 68%, the anticancer agent Aredia (pamidronate), up 64%, and the antiasthma agent Foradil (formoterol), sales of which grew 77%. Combined turnover of Sandimmum and Neoral (both ciclosporin), used in transplants and to treat autoimmune diseases, increased 5%.