Swiss pharmaceutical company Novartis reported an attributable net profit of $9.123 million (€8.458 million) through September, equating to an increase of 43.2% compared to profits recorded during the same period. of 2023, deducted from income. press release published this Tuesday.
Over the first nine months of 2023, the generic subsidiary Sandoz It provided $440 million (407.9 million euros) in benefits and revenues of $7.428 million (6.886 million euros). This division was split on October 3, 2023.
Net sales from continuing operations of Novartis reached $37.164 million (34,454 million euros), or 9.3% more. The other concepts generated 1 billion dollars (927.1 million euros).
For its part, the laboratory incurred total expenses of 27.15 billion dollars (25.17 billion euros), or 2% less.
Only in the third trimesterNovartis recorded a profit of 3.189 million dollars (2.956 million euros) and a turnover of 12.823 million dollars (11.888 million euros). These amounts were respectively 81.1% and 8.8% higher over one year.
“In the third quarter, Novartis again reported strong operating results, with sales up 10% and core operating profit up 20%. “All major growth drivers contributed to this dynamic,” said Vas Narasimhan, CEO of Novartis.
“We have made significant expansions in the indications of Kisqali, for early breast cancer, and Fabhalta, for IgA nephropathy, while we have finalized the submission of PSMAfore documents for Pluvicto in the United States,” said he added.
Novartis Forecast
The director also referred in his comments to the further upward revision of forecasts for the whole of 2024. Thus, net sales are now expected to experience double-digit growth, whereas previously it was estimated that they would in the range of high single digits to lower two digits.
As for the operating profitNovartis anticipates an increase close to 20% whereas previously forecasting a range of around 15% to a figure close to 20%.
