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Novartis increases 2009 sales and earnings

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BASEL (AFX) – Novartis AG’s 2009 sales and earnings increased. As the Basel-based drugmaker on Monday announced, net sales rose last year by 7% to 44.3 billion USD or currency by 11%. Net income rose to 4% to 8.5 billion USD. All businesses have a good developed, Novartis had gained market share. Especially the Divisions, pharmaceuticals and vaccines are grown very dynamically.
With the result, the company surpassed the expectations of Analysts. Analysts surveyed by Dow Jones Newswires had one consensus Net profit of U.S. $ 8.3 billion expected. The turnover they had at 43.45 billion USD seen.
The fourth quarter was a positive one for the pharmaceutical company. Net income rose to 2.32 (previous year’s quarter: 1.51) billion. The Net sales rose to 12.93 (10.08) billion. Here, too, exceeded the Company’s expectations of the market. Analysts had a net profit of approximately USD 2.21 billion on net sales of 12.14 billion USD seen. As Novartis further informed the Board Joe Jimenez currently Head of the Pharma Division, was appointed as the new CEO. He will succeed the current CEO Daniel Vasella, who as Chairman of the Board is now to deal with strategic issues. In addition to the Top management structure will be simplified.

   

Website: www.novartis.com

DJG / mkl / jhe 


(END) Dow Jones Newswires

January 26, 2010 01:40 ET (06:40 GMT)

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