Novartis posted a net income of $2.31bn for the third quarter 2010, compared to $2.11bn for the comparable period in 2009.
The operating loss was $2.59bn, compared to $2.63bn for the comparable period in 2009.
Novartis said that the 2% loss in operating income is principally due to the termination of two development projects and Alcon related charges of $217m.
For the nine months ended 30 September 2010, Novartis posted net sales of $36.43bn, an increase of 16% compared to $31.34bn for the year ago period.
Operating income for nine months ended 30 September 2010 was $9.06bn, an increase of 23% compared to $7.35, for the year ago period.
Novartis has generated a net income of $7.70bn, an increase of 26%, compared to $6.13bn for the year ago period.
Novartis CEO Joseph Jimenez said that approvals such as Gilenya, a breakthrough first-line oral treatment for multiple sclerosis, and Tasigna, a new first-line treatment for chronic myeloid leukemia, have the potential to change patients’ lives. Data on new medicines such as MenB, a meningococcal vaccine candidate, gives them confidence that their pipeline will continue to deliver.