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Novartis increases net sales 13% in first quarter

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BASEL, Switzerland — Novartis reported first quarter earnings increases of 13%, to $8.3 billion, with the pharmaceutical division increasing its sales 5% to $5.05 billion, the company said in a press release.

In ophthalmology, Visudyne (verteporfin for injection) posted “lower sales in the first quarter following the entry of off-label competition in the United States in 2005, but continued to grow well outside of the U.S.,” Novartis said. During the quarter, the age-related macular degeneration drug earned $107 million.

Novartis said it was seeking Lucentis (ranibizumab) “to become the new gold standard for the treatment of wet AMD” and noted the drug had been submitted to Australian, European and Swiss regulatory agencies during the quarter. Partner Genentech holds the marketing rights to the drug in the United States and Canada. After results of two phase 3 trials, Novartis has stopped the development of Sandostatin (octreotide acetate) for the treatment of diabetic retinopathy, according to the press release. The drug is currently marketed for the treatment of acromegaly.