Novartis Net Income Rose in 3rd Quarter
25 October 2016 - 5:01PM
Dow Jones News
By Denise Roland
Novartis AG (NVS) said net income increased in the third quarter
thanks to proceeds from its consumer health-care joint venture with
GlaxoSmithKline PLC (GSK.LN), helping offset declining revenue and
heavy investment into its new heart-failure medicine and its ailing
eye-care unit.
The Swiss pharmaceutical giant on Tuesday said net income from
continuing operations increased 7% to $1.9 billion in the three
months to Sept. 30, while revenue fell 1% to $12.1 billion.
Core net income from continuing operations, a measure that
strips out one-time gains and losses such as proceeds from the
consumer health-care joint venture, fell 4% to $2.9 billion.
Analysts had expected revenue of $12.2 billion and core net
income of $2.8 billion.
Write to Denise Roland at denise.roland@wsj.com
(END) Dow Jones Newswires
October 25, 2016 01:46 ET (05:46 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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