Novartis Q4 Net Profit Drops 46%

Novartis AG NVS reported a 46% decline in its Q4 net profit. Novartis' quarterly net profit fell to $1.18 billion, from $2.17 billion, in the year-ago period, versus analysts' estimates of $1.76 billion. Its sales surged 4.1% to $14.78 billion, versus analysts' estimates of $14.63 billion. Novartis shares gained 0.06% to $55.91 in after-hours trading.