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Novartis posts double-digit growth with CIBA Vision and Visudyne
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BASEL, Switzerland — CIBA Vision maintained double-digit sales growth in the third quarter, mainly because of its disposable and continuous-wear lens business, parent company Novartis said in an earnings release. CIBA increased sales 12% during the quarter from the same period a year ago, to $333 million.
In the company’s ophthalmic pharmaceuticals line, Visudyne (verteporfin), for the treatment of age-related macular degeneration, increased sales 24% in the third quarter 2003 compared to year-ago sales, according to the release. Novartis noted the drug “benefited from increased market penetration and strong sales in Europe, the Latin American and Asia Pacific regions.” In the United States, Visudyne received a recommendation from the Medicare Coverage Advisory Committee for reimbursement in the treatment of occult age-related macular degeneration.
U.S. sales of Visudyne reached $47 million during the quarter, an increase of 15% from the previous year’s figures, according to Novartis’ unaudited sales data. Throughout the rest of the world, Visudyne recorded sales of $43 million, an increase of 34% from the previous year’s totals, according to the company.
Visudyne is Novartis’ leading ophthalmic drug and one of the company’s top 20 pharmaceutical products.