In the second quarter of 2017, Novartis reported revenues of $12,2 billion. Ebit stood at 2,3 billion dollars, an increase of 9% benefiting from extraordinary components and lower depreciation and amortization. All of this was reflected in the level of net income which grew by 10% to approximately $2 billion. The management confirmed the guidance communicated at the beginning of 2017. In detail, net sales are expected to be substantially unchanged compared to the previous year, while operating profit should mark a change of around 0-3%.
Negative first half for Novartis, hit by generic competition and pricing pressures. Despite everything, however, the Swiss pharmaceutical group confirms its targets for 2017.
In the first six months of the year, thenet income fell 5% to 3,6 billion dollars (3,1 billion euros); The turnover has dropped by 1% to 23,7 billion dollars despite the growth in volumes (+6%), mainly driven by new drugs with high potential (Entresto and Cosentyx). For the current year goals confirmed, with sales in line with last year ($48,5 billion in 2016).
