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Novartis Q4 operating earnings off 51%

Novartis (NYSE:NVS) Q4 results ($M): Revenues: 14,633 (-3.0%); Pharmaceuticals: 7,860 (-5.6%); Alcon: 2,703 (+1.8%); Sandoz: 2,512 (+4.2%); Vaccines: 494 (-24.6%); Consumer Health: 1,064 (+2.9%).
COGS: 5,369 (+1.1%); R&D Expense: 2,753 (+2.1%); SG&A Expense: 3,676 (-23.0%); Net Income: 1,487 (-27.7%); EPS: 0.62 (-24.4%); CF Ops: 5,205 (+17.0%); Quick Assets: 13,862 (+50.3%).
Gross Profit: 9,504 (-5.4%); COGS: 36.7% (+4.1%); Gross Margin: 64.9% (-0.2%); Operating Profit: 1,172 (-50.6%); Operating Earnings Yield: 8.0% (-49.1%); Net Earnings Yield: 10.2% (-25.5%).
Key Product Sales: Gleevec/Glivec: 1,237 (+0.8%), Gilenya: 666 (+26.4%), Lucentis: 588 (-6.7%), Tasigna: 428 (+21.6%), Afinitor/Votubia: 426 (+18.0%), Sandostatin: 416 (0.0%).
2015 Guidance: Group Net Sales Growth: Mid-single digit; Core Group Operating Income Growth: High-single digit; Pharmaceuticals Growth: Mid-single digit; Alcon Growth: Mid-to-high single digit; Sandoz Growth: Mid-single digit.