Home News UPDATE: Novartis boosts 2009 sales and earnings

UPDATE: Novartis boosts 2009 sales and earnings

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By Anita Greil
DOW JONES NEWSWIRES 


BASEL (AFX) – Swiss drugmaker Novartis has Increased 2009 sales and earnings growth rates and with the Exceeded analysts’ expectations. As the Basel-based Novartis AG on Monday announced increased net sales in the past Fiscal year by 7% to 44.3 billion USD or currency by 11%. That Net income rose 4% to 8.5 billion USD. All businesses have are well developed, Novartis had gained market share. In particular, the Pharmaceutical Division and vaccines are very dynamic grown.

Thus, vaccines and diagnostics division sold more than 100 million Doses of vaccine against the H1N1 swine influenza agents. Also, the newly approved Medication would have contributed to growth. With over 30 New registrations in the U.S., Europe and Japan of 2009, Novartis had top spot evidence, told the group. With 145 projects in clinical Development of the pipeline is "full", 60 of which were novel Substances.

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. The Novartis Board of Directors recommends that shareholders at the next Annual General Meeting to increase the dividend for 2009 by 5% to 2.10 Swiss francs.

As the company further informed that passes the Novartis CEO Daniel Vasella many years his office in a few days to Joe Jimenez the current head of the Pharmaceutical Division of the Group. The Handing over responsibilities to on 1 Carried out in February. Vasella will in the future as Chairman of the Board to focus on strategic issues.

In the course of the change at the head of Novartis, the top is Management structure of the group will be streamlined. The Corporate Executive Board is under this restructuring on nine of twelve members previously reduced. The three leading positions COO, Head of Corporate Affairs and Head of Group Quality / Technical Operations will be abolished.

On the stock market the Annual Report and Personnel were a success. Novartis shares climbed in early trade by 1.2% to 56.35 Swiss francs and presented objecting to the downturn of the overall market.

   

Website: www.novartis.com

-By Anita Greil, Dow Jones Newswires;
+49 (0) 69 29725 102, unternehmen.de @ dowjones.com
DJG / DJN / mkl / jhe 


(END) Dow Jones Newswires

January 26, 2010 03:23 ET (08:23 GMT)

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