Novartis grows in first half of ‘03; gains market share

Novartis, parent company of both Novartis Ophthalmics and CIBA Vision, reported an 18% increase in sales for its pharmaceutical business during the first half of this year, led by the company’s cardiovascular and oncology drug lines. For the first half of fiscal 2003, Novartis posted sales of $11.92 billion, up from $9.94 billion the year earlier, according to a release from the company’s investor relations offices in New York and Switzerland.

The pharmaceuticals division generated sales of $7.6 billion in the first half of the year. Sales in the United States increased by 14% and in Japan by 23%, and sales also increased in the company’s core European market. As a result, the company’s overall share in the global healthcare market has risen to 4.3%, the release said.

Visudyne (verteporfin for injection), the company’s leading ophthalmic medication, increased worldwide sales 22% to $87 million, according to the financial report. Visudyne continued to post strong growth, benefiting from market penetration in both the Latin American and Asia Pacific regions, the report said.

Overall, the ophthalmics division posted a sales increase of 14%. In June, the company acquired the rights from Genentech to develop and commercialize Lucentis outside the United States. (For more details, see http://www.osnsupersite.com/view.asp?ID=5673.)

CIBA Vision’s sales increased 14%, to $627 million, led by its disposable and continuous-wear lens business and surgical business, according to the company news release. Both the Focus Dailies and the Night & Day contact lens line “continued to perform dynamically,” the release said, especially in North America and Europe.

“The ophthalmic surgical business grew steadily ahead of the market, supported by increased sales from a number of recently launched new products,” the financial report stated.