Novartis highlights positive trends in Q2 2012
20 July 2012 11:29 in Pharmaceutical Company Product News
Novartis has published its financial report for the second quarter of 2012, during which the company experienced improved sales and achieved a number of key strategic milestones.
Group net sales for the three months came to $14.3 billion (9.1 billion pounds), up by one percent year on year in constant currency terms, while making progress on the development of its portfolio.
Five significant regulatory milestones were achieved in the second quarter, including European recommendations for approval of Afinitor, Jakavi and Seebri Breezhaler, while recently launched products contributed 29 percent to group sales.
The company's ophthalmology-oriented subsidiary Alcon also experienced a strong quarter, which has helped Novartis to maintain its trajectory towards meeting its 2012 targets.
Joseph Jimenez, chief executive officer of Novartis, said: "Pharmaceuticals and Alcon delivered solid financial performance and operating leverage in the second quarter, underpinned by our continued focus on portfolio rejuvenation."
The company is looking to build on a strong 2011, during which it experienced a 16 percent annual growth in revenues.
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