Novartis 2Q net slips as generic drug competition hits sales

Novartis 2Q net slips as generic drug competition hits sales


Swiss pharmaceuticals company Novartis says net profit from continuing operations fell 3 percent in the second quarter, largely because of new generic competition for its top cancer drug even as it expressed high hopes for a psoriasis drug that has turned out to be one of its best product launches ever. The Basel-based giant reported Tuesday that net income from continuing operations was $1.81 billion, down from $1.86 billion a year earlier in the quarter.



from Biotech News