Novartis experiences strong growth in first quarter of 2011
19 April 2011 00:00 in Pharmaceutical Company Financials
Novartis has published its financial report for the first three months of the new fiscal year, during which it experienced a double-digit percentage growth in sales.
The firm's net sales total for the first quarter of 2011 came to $14 billion (8.59 billion pounds), up by 14 percent year on year on a constant currency basis.
During the quarter, the company made a major investment in its future growth through its acquisition of Alcon, a deal which is expected to see Novartis become the leading player in the global eye care market.
It has also gained approval to launch a number of new treatments, including the multiple sclerosis treatment Gilenya, which becomes the first oral therapy for the disease to be released in Europe.
Joseph Jimenez, chief executive officer of Novartis, also highlighted the positive data produced from trials of new therapies such as INC424 as evidence of the health of its research and development pipeline.
"Contributions from all businesses led to a good start in 2011", he added.
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