Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Novartis has reported net sales of $14.03bn for the first quarter ended 31 March 2011, an increase of 16%, compared to $12.13bn during the same period in 2010.
Subscribe to our email newsletter
Novartis’ net income was $2.82bn for the first quarter 2011, a decrease of 4%, compared to net income of $2.95bn, for the comparable period in 2010.
Net income was down 4% (-1% cc) due to additional financing costs related to Alcon, partially offset by an improved tax rate of 16% (from 16.5%).
The company’s operating income was $3.41bn, a decrease of 3 %, compared to $3.51bn for the comparable period in the previous year.
Novartis CEO Joseph Jimenez said contributions from all businesses led to a good start in 2011, as they achieved 14% growth in the first quarter.
"In April, we completed our merger with Alcon," Jimenez said .