UPDATE: Novartis Posts Rise In Q4 Profit

Novartis AG

reported a rise in its net profit in the fourth quarter. Novartis' quarterly net profit surged to $2.05 billion, versus $1.18 billion, in the year-ago period. However, analysts were expecting a profit of $2.38 billion. Its net sales came in at $14.83 billion. Novartis shares closed at $65.13 yesterday.