Novartis has achieved all-round performance during the first half ended June 2007 on account of strong performance by new products like Tekturna, Lucentis, Exjade and Exforge. The company's net profit has improved by 14.1 per cent to $4,187 million from $3,699 million in the corresponding period of last year. The net sales also increased by 14.1 per cent to $19,941 million from $ 17483 million. Its basic earnings per share moved up to $1.78 as against $1.56 in the last period.
Commenting on the results, Dr Daniel Vasella, chairman and CEO, said, "All areas of our strategic healthcare portfolio performed well in the first half of 2007 despite some setbacks in the pharmaceuticals division. Continuing our focus on innovation, we have already achieved seven major regulatory approvals this year and more are expected in the second half. Many of these new products are meeting high expectations, while our leading brands Diovan and Gleevec/Glivec keep growing dynamically. sandoz and vaccines and diagnostics again delivered strong growth. Our complementary healthcare businesses are positioning us well to fulfil a broad spectrum of patient needs and meet the challenges of an increasingly volatile sector."
The pharmaceutical division recorded sales growth of 12 per cent during the first half of 2007 to $11,988 million from $10,751 million in the similar period of last year. The Sandoz division's sales increased by 19 per cent to $3,415 million from $2,881 million and that from consumer health continuing operations went up by 9 per cent to $2,643 million from $2,415 million.
Ongoing strong growth in the top-selling brands Diovan ($2.4 billion) and Gleevec/Glivec ($1.4 billion) - both No 1 in their segments - underpinned the performance. The company has received seven major new regulatory approvals for pharmaceuticals in the US and Europe since the start of 2007, making significant progress in delivering a wave of new medicines - many with 'first-in-class' status addressing significant medical needs.