Novartis shows sales, income growth in second quarter

BASEL, Switzerland — Specialty pharmaceutical sales, including ophthalmics, helped propel Novartis to double-digit overall sales gains in the first half of this year, the company reported in a financial news release. Pharmaceutical sales during the second quarter reached $4.57 billion, an increase of 15% from the same period 1 year ago. Specialty product sales rose 22%, accounting for one-third of overall pharmaceutical sales, the company said.

Sales for CIBA Vision, a part of the company’s consumer health division, increased 11%, the release said. This growth was attributed in part to good performance in the United States and Europe.

Within the ophthalmics unit of the pharmaceuticals division, sales increased 25% during the first half of the year. The press release noted that Visudyne (verteporfin for injection) sales increased 23% during the second quarter after the Medicare reimbursement rate for the drug improved and coverage was expanded on April 1. Visudyne was also launched in Japan in May. During the second quarter, U.S. sales of Visudyne totaled $53 million; sales in the rest of the world totaled $56 million.

During the second quarter, sales for CIBA Vision were $356 million, up from $331 million in the previous year’s second quarter. U.S. sales accounted for 35% of that amount, the company said.

Net profit rose to $1.55 billion, well above analysts’ estimates of $1.34 billion, a Dow Jones report said. Executives at Novartis told Dow Jones they attributed the growth to strong pharmaceutical sales and increased market share.