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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.