Novartis Ag Misses
Novartis Ag (NVS) reported 2nd Quarter June 2018 earnings of $1.26 per share on revenue of $13.2 billion. The consensus earnings estimate was $1.27 per share. The Earnings Whisper number was $1.31 per share. Revenue grew 7.5% on a year-over-year basis.
Novartis AG is engaged in the research, development, manufacturing and marketing of healthcare products and pharmaceuticals.
Novartis reports Q2 core EPS $1.29, consensus $1.27
Reports Q2 revenue $13.16B, consensus $12.94B
Novartis re-confirms FY18 group outlook presented in beginning of 2018
Novartis re-confirms its group outlook as presented at the beginning of 2018. Group net sales in 2018 are expected to grow low to mid-single digit in constant currencies. Group core operating income in 2018 is expected to grow mid to high-single digit in constant currencies. From a divisional perspective, the company expects net sales performance in 2018 to be as follows: Innovative Medicines: grow mid-single digit; Sandoz: revised downwards to decline low-single digit; Alcon: revised upwards to grow mid-single digit. If mid-July exchange rates prevail for the remainder of 2018, the currency impact for the year would be positive 1 percentage point on net sales and positive 1 percentage point on core operating income
Novartis puts brakes on price hikes in the U.S. for 2018, Reuters reports
Novartis (NVS) CEO Vas Narasimhan said the company is not planning to raise prices on its U.S. drugs for the rest of the year, following a similar move by Pfizer (PFE), but he still expects the drugmaker to achieve the top of its 2018 sales guidance, Reuters reports, citing comments Narasimhan made on a conference call. "We don't plan to take any further prices increases in the United States for 2018," Narasimhan said. "Right now, in a very dynamic environment in the United States ...we view it as the prudent course right now not to take any further price increases this year." Reference Lin
