The company has posted net sales of $10.08 billion for the fourth quarter of 2008, an increase of 1%, compared to $9.93 billion reported for the fourth quarter of 2007. Basic earnings per share were $0.66 for the fourth quarter of 2008, an increase of 61%, compared to $0.41 reported for the same period of 2007.
Novartis has reported net income of $8.16 billion for the full year 2008, an increase of 25%, compared to $6.54 billion posted for the full year 2007. The company has posted net sales of $41.46 billion for the full year 2008, an increase of 9%, compared to $38.07 billion posted for 2007. Basic earnings per share were $3.59 for the full year 2008, an increase of 28%, compared to $2.81 reported for 2007.
Daniel Vasella, chairman and CEO of Novartis, said: Pharmaceuticals returned to dynamic growth and gained market share in the second half of the year, while vaccines and diagnostics continued its double-digit growth. Recently launched pharmaceutical products contributed $2.9 billion in sales in 2008 further rejuvenating our portfolio, and we submitted 14 major new products filings that underpin our innovation power.
Organic growth was complemented by several acquisitions and strategic investments, the most important being the acquisition of a 25% share of Alcon. Novartis anticipates another year of record results in 2009, continuing on its path of sustainable growth.