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Novartis reports higher net income in 2012
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Novartis reported a net income of $9.62 billion in 2012, up from $9.25 billion in 2011, an increase of 4%, according to a company news release.
The company’s Alcon division had net sales of $10.23 billion in 2012, a 3% increase from $9.96 billion in 2011.
In the fourth quarter of 2012, Novartis net income was $2.08 billion, up 72% from $1.21 billion in the same quarter the previous year. The fourth-quarter gain was attributed to an increase in operating income — $2.48 billion in 2012 compared with $1.32 billion in the same quarter 2011, when there were higher exceptional charges.
Net sales in 2012 dropped to $56.67 billion, down 3% from $58.57 billion the previous year. Fourth-quarter net sales increased to $14.83 billion from $14.78 billion.
Novartis expects 2013 sales to be similar to 2012.