Novartis reports 2Q net sales of $12.7 billion, growth product increase

Novartis reported net sales of $12.7 billion in the second quarter of 2015, a 5% decrease from the same period in 2013; growth products contributed $4.4 billion, a 24% increase, according to a press release.

“Novartis had a strong quarter for innovation with U.S. approval and launch of both Entresto [sacubitril and valsartan] and Glatopa [glatiramer acetate injection] being key highlights,” Joseph Jimenez, CEO of Novartis, said in the release. “Additionally, we reported a broad range of positive clinical data across franchises, including Tafinlar [dabrafenib]/Mekinist [trametinib] in metastatic melanoma and Cosentyx [secukinumab] in ankylosing spondylitis. We are confident we will … confirm our full-year guidance.”

The company’s growth products, including products launched in a key market of European Union, United States or Japan, in 2010 or later, or products with exclusivity in key markets until at least 2019, made up 35% of net sales, according to the release.

Novartis reported that operating income was $2.3 billion, down 28%, “mainly due to the amortization of the new oncology assets as well as a commercial settlement gain related to intellectual property in the prior-year period, partly offset by strong operating performance,” the release stated.

Pharmaceuticals net sales were $7.8 billion, a 4% decrease from the same period last year, with volume growth of 13 percentage points, and included new oncology assets acquired from GlaxoSmithKline, according to the release.

Reference: www.novartis.com