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UPDATE: Novartis Reports Decline In Q1 Profit

Novartis (NYSE: NVS) reported a 16.6% drop in its net profit for the first quarter.

Novartis' quarterly net profit declined to $2.31 billion, from $2.77 billion, in the year-ago quarter. However, analysts were expecting a net profit of $2.16 billion. Its net sales fell 2% at $13.74 billion

Sales at the flagship pharmaceuticals division climbed 1.8% to $7.84 billion.

Novartis shares closed at $55.62 yesterday.

Posted-In: EarningsEarnings News

 

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