Novartis delivered sales growth across all divisions (cc1) as growth drivers, including Cosentyx and Entresto, more than offset generic erosion; innovation momentum continued
(Thomson Reuters ONE) -
Novartis International AG /
Novartis delivered sales growth across all divisions (cc1) as growth drivers,
including Cosentyx and Entresto, more than offset generic erosion; innovation
momentum continued
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The issuer is solely responsible for the content of this announcement.
* Net sales grew 2% (cc, -1% USD), as growth drivers more than offset
Gleevec/Glivec impact
* Cosentyx (USD 410 million, +136% cc) showing strong growth in all three
indications
* Entresto (USD 84 million) steadily growing with better access in US and
EU
* Gilenya (USD 722 million, +5% cc) grew mainly driven by volume
* Excluding Gleevec/Glivec, Oncology grew +7% (cc) driven mainly by
Promacta/Revolade, Jakavi, Tafinlar + Mekinist and Tasigna
* Core[1] operating income down 5% (cc) due to generic erosion and increased
investments, mainly in Entresto and Alcon
* Core EPS of USD 1.13, down 1% (cc)
* Net income declined 15% (cc) mainly due to a net charge related to the
discontinuation of RLX030 (USD -0.2 billion), as well as the decline in core
operating income
* Free cash flow[1] grew USD 0.3 billion versus prior year, to USD 1.7 billion
* Innovation momentum maintained:
* Kisqali (formerly LEE011) approved and launched in the US for treatment
of advanced breast cancer
* Sandoz received positive CHMP opinions for biosimilars etanercept and
rituximab in April
* CTL019 cell therapy granted FDA Priority Review for pediatric ALL and
Breakthrough Therapy designation for DLBCL
* BAF312 submission for the treatment of multiple sclerosis expected in
2018 in the US
* SEG101 submission for treatment of sickle cell pain crises expected in
2018 in the US, 2019 in EU
* AMG 334 positive readout for treatment of episodic migraine in April
* Alcon growth plan on track, sales grew +1% (cc) driven by Vision Care. Alcon
continued to accelerate innovation, strengthen customer relationships and
improve operations
* 2017 Group outlook confirmed:
* Net sales expected to be broadly in line with prior year (cc), core
operating income expected to be broadly in line or decline low single
digit (cc)
Key Q1 figures[1] Q1 2017 Q1 2016 % change
USD m USD m USD cc
----------------------------------------------------
Net Sales 11 539 11 600 -1 2
Operating income 1 922 2 451 -22 -19
Net income 1 665 2 011 -17 -15
EPS (USD) 0.70 0.85 -18 -15
Free cash flow 1 665 1 362 22
Core
Operating income 3 010 3 261 -8 -5
Net income 2 690 2 788 -4 -1
EPS (USD) 1.13 1.17 -3 -1
----------------------------------------------------
[1] Constant currencies (cc), core results and free cash flow are non-IFRS
measures. An explanation of non-IFRS measures can be found on page 36 of the
Condensed Interim Financial Report. Unless otherwise noted, all growth rates in
this Release refer to same period in prior year.
Basel, April 25, 2017 - Commenting on the results, Joseph Jimenez, CEO of
Novartis, said:
"Novartis delivered another solid performance in the first quarter. Growth
drivers, including Cosentyx and Entresto, more than offset generic erosion,
mainly due to Glivec. The innovation momentum continued in the quarter, led by
the launch of Kisqali, and the FDA Priority Review for CTL019 in the US. This
reinforces our confidence in our next growth phase, which we expect to start in
2018."
GROUP REVIEW
First quarter Group financials
Net sales were USD 11.5 billion (-1%, +2% cc) in the first quarter, as volume
growth of 7 percentage points was partially offset by the negative impact of
generic competition (-3 percentage points) and pricing (-2 percentage points).
All divisions reported growth in constant currencies.
Operating income was USD 1.9 billion (-22%, -19% cc). Core adjustments amounted
to USD 1.1 billion (2016: USD 0.8 billion), including a net charge of USD 0.2
billion related to the discontinuation of RLX030 development.
Core operating income was USD 3.0 billion (-8%, -5% cc). Core operating income
margin in constant currencies decreased 1.8 percentage points, mainly due to
generic erosion of Gleevec/Glivec and investments behind new launches and the
Alcon growth plan. Currency had a negative impact of 0.2 percentage points,
resulting in a net decrease of 2.0 percentage points in US dollar terms to
26.1% of net sales.
Net income was USD 1.7 billion (-17%, -15% cc), declining less than operating
income due to higher income from associated companies.
EPS was USD 0.70 (-18%, -15% cc), broadly in line with net income.
Core net income was USD 2.7 billion (-4%, -1% cc), declining less than core
operating income due to higher income from associated companies.
Core EPS was USD 1.13 (-3%, -1% cc), broadly in line with core net income.
Free cash flow was USD 1.7 billion (USD +0.3 billion), mainly driven by higher
cash flows from operating activities.
Innovative Medicines net sales were USD 7.7 billion (0%, +2% cc) in the first
quarter, with volume growth of 7 percentage points driven by Cosentyx, Entresto,
Promacta/Revolade, Jakavi, Tafinlar + Mekinist and Gilenya. Generic competition
had a negative impact of 4 percentage points and pricing had a negative impact
of 1 percentage point, both largely due to Gleevec/Glivec genericization in the
US and Europe.
Operating income was USD 1.7 billion (-21%, -17% cc) due to generic erosion of
Gleevec/Glivec, launch investments and the net charge of USD 0.2 billion related
to the discontinuation of RLX030 development. Core operating income was USD 2.4
billion (-7%, -3% cc). Core operating income margin in constant currencies
decreased by 1.7 percentage points due mainly to generic erosion and launch
investments for Entresto, Cosentyx and Kisqali. Currency had a negative impact
of 0.5 percentage points, resulting in a net decrease of 2.2 percentage points
to 31.5% of net sales.
Sandoz net sales were USD 2.4 billion (-1%, +1% cc) in the first quarter, as
volume growth of 9 percentage points was offset by 8 percentage points of price
erosion. Global sales of Biopharmaceuticals (including biosimilars,
biopharmaceutical contract manufacturing and Glatopa) grew +30% (cc) to USD 274
million, driven by strong performance of Zarxio (filgrastim) and Glatopa 20mg
in the US.
Operating income was USD 343 million (-1%, -2% cc). Core operating income was
USD 460 million (-5%, -6% cc). Core operating income margin in constant
currencies decreased by 1.3 percentage points, mainly due to higher M&S
investment, including biosimilars, and higher Other Expense. Currency had a
positive impact of 0.4 percentage points, resulting in a net decrease of 0.9
percentage points to 18.9% of net sales.
Alcon net sales were USD 1.4 billion (-1%, +1% cc) in the first quarter. Vision
Care sales (+4% cc) continued to grow, driven by strong performance of the daily
contact lens portfolio, including continued double-digit growth of Dailies
Total1. Surgical sales (-1% cc) were down, mainly due to continued competitive
pressures in IOLs.
Operating loss was USD 43 million, compared to an income of USD 31 million in
the prior year quarter. Core operating income was USD 187 million (-23%, -18%
cc). Core operating income margin decreased by 3.1 percentage points in constant
currencies, mainly impacted by higher M&S investment. Currency had a negative
impact of 0.7 percentage points, resulting in a net margin decrease of 3.8
percentage points to 13.2% of net sales.
Key growth drivers
Underpinning our financial results in the first quarter is a continued focus on
key growth drivers, including Cosentyx, Entresto, Promacta/Revolade, Jakavi,
Tafinlar + Mekinist, Tasigna and Gilenya, as well as Biopharmaceuticals and
Emerging Growth Markets.
Growth Drivers
* Cosentyx (USD 410 million, +136% cc), continued to show strong launch
trajectory in the first quarter of 2017 across its three approved
indications. Cosentyx has been used to treat more than 80,000 patients since
launch.
* Entresto (USD 84 million, USD +67 million), had a solid first quarter,
benefitting from the continued access improvements, effects of increased
investment in the US, as well as additional launches in Europe.
* Promacta/Revolade (USD 175 million, +35% cc) grew strongly, driven by
continued worldwide uptake as well as growth of the thrombopoietin class for
chronic immune thrombocytopenic purpura.
* Jakavi (USD 162 million, +34% cc) growth was driven by increased patients
treated for myelofibrosis and the launch of the polycythemia vera indication
in key markets.
* Tafinlar + Mekinist (USD 187 million, +27% cc) continued to show strong
growth, particularly in Europe.
* Tasigna (USD 411 million, +9% cc) showed solid growth in the first quarter,
particularly in the US, despite multiple generic versions of Gleevec/Glivec.
* Gilenya (USD 722 million, +5% cc), exhibited continued volume growth.
* Biopharmaceuticals (USD 274 million, +30% cc) grew mainly driven by Zarxio
and Glatopa 20mg in the US.
Emerging Growth Markets
* Net sales in Emerging Growth Markets - which comprise all markets except the
US, Canada, Western Europe, Japan, Australia and New Zealand - grew 1% USD,
6% cc.
Strengthen R&D
Innovation Review
Benefitting from our continued focus on innovation, Novartis has one of the
industry's most competitive pipelines with more than 200 projects in clinical
development.
Key developments from the first quarter of 2017 include:
New approvals and regulatory opinions
* Kisqali (ribociclib, formerly LEE011) was approved by the FDA in combination
with an aromatase inhibitor for treatment of postmenopausal women with
HR+/HER2- advanced or metastatic breast cancer.
* Tafinlar + Mekinist received EU approval in April for combination therapy to
treat patients with advanced or metastatic NSCLC whose tumors express the
BRAF V600 mutation.
* Votubia (everolimus) dispersible tablets were approved by the EC as an
adjunctive treatment for patients whose refractory partial-onset seizures
are associated with TSC.
* Sandoz biosimilars etanercept (Amgen's Enbrel(®)) and rituximab (Roche's
MabThera(®)/Rituxan(®)) received positive opinions from the CHMP in April.
* AcrySof IQ ReSTOR 2.5D Toric IOL with ACTIVEFOCUS was approved by the FDA to
address presbyopia and preexisting astigmatism at the time of cataract
surgery.
Regulatory submissions and filings
* CTL019 was granted Priority Review by the FDA, in pediatric and young adult
patients with acute lymphoblastic leukemia. CTL019 is an investigational
CAR-T cell therapy. The FDA has also granted Breakthrough Therapy
designation to CTL019 for the treatment of adult patients with r/r diffuse
large B-cell lymphoma.
* Zykadia (ceritinib) was granted Priority Review from the FDA for use as a
first-line treatment for patients with metastatic NSCLC with an ALK
mutation, and Breakthrough Therapy designation in this indication for
patients with brain metastases.
* SEG101 (crizanlizumab) was discussed with health authorities and based on
their feedback Novartis expects to submit for regulatory approval for sickle
cell pain crises in the US in 2018. This assumes successful PK/PD
comparability study to final manufacturing process.
* BAF312 (siponimod) was discussed with the FDA and Novartis expects to submit
an application for the treatment of relapsing multiple sclerosis (RMS) in
2018.
Results from ongoing trials and other highlights
* AMG 334 (erenumab) data from Phase III trials STRIVE and ARISE was presented
at American Academy of Neurology, in April. The data confirms the potential
of AMG 334 to substantially reduce days with migraine for people
experiencing up to 14 migraine days a month. The safety profile of AMG 334
was comparable to placebo.
* Entresto analysis presented at the American College of Cardiology of data
from a subgroup of patients with reduced ejection fraction heart failure
(HFrEF) and diabetes suggests that Entresto may improve glycemic control
compared to the ACE-inhibitor enalapril.
* Cosentyx analysis was presented at the American Academy of Dermatology that
showed patients rapidly regained clear or almost clear skin (Psoriasis Area
Severity Index, PASI 90 to 100) following relapse during a treatment pause.
* Cosentyx data was presented at the Maui Derm for Dermatologists meeting that
showed it may modify the course of moderate-to-severe psoriasis leading to
long-term, treatment-free skin clearance in approximately 20% of patients
following one year of treatment.
* Sandoz biosimilar adalimumab (GP2017) showed equivalent efficacy to the
reference medicine, AbbVie's Humira(®), in data presented at the American
Academy of Dermatology.
* Promacta (eltrombopag) achieved complete response (CR) in 58% of patients
treated with treatment-naïve severe aplastic anemia (SAA) at six months at
the initiation of and concurrently with standard immunosuppressive
treatment, according to a study published by NEJM in April.
* ECF843 ophthalmic rights were acquired (ex-EU), adding a novel disease-
modifying approach for the treatment of dry eye to our leading R&D portfolio
in Ophthalmology.
* AMG 334 (erenumab). In April, Novartis expanded the global partnership with
Amgen to include co-commercialization in the US; Novartis to gain exclusive
rights in Canada and retain existing rights in rest of world, excluding
Japan.
* Allergan and Novartis entered into a clinical trial agreement in April to
conduct a phase IIb study, involving the combination of a Novartis FXR
agonist and Allergan's cenicriviroc (CVC) for the treatment of non-alcoholic
steatohepatitis (NASH).
* RLX030 (serelaxin) phase III trial RELAX-AHF-2 did not meet its primary
endpoints.
Transform Alcon into an agile company
The Alcon Division grew sales 1% (cc) in the first quarter and continued to
execute against the growth plan, taking actions to accelerate innovation and
sales, strengthen customer relationships and to improve the efficiency and
effectiveness of operations.
In Vision Care (+4% cc), continued investments in direct to consumer advertising
behind key brands in Europe and the US helped drive growth in contact lenses
(+7% cc) for the fourth consecutive quarter.
Surgical (-1% cc) continued to strengthen its basic operations and improve
supply levels, which led to improved customer service. The pipeline continued to
advance with the approval of the AcrySof IQ ReSTOR +2.5D Multifocal Toric IOL
with ACTIVEFOCUS in the US. The division also invested in expanding its new
product launches, including CyPass and NGENUITY 3D.
In January 2017, Novartis announced a strategic review of Alcon. Options to
maximize shareholder value of the Alcon Division are under consideration. A
status update will be provided towards the end of 2017.
Create a stronger company for the future
We continued to advance all of our productivity and quality programs in the
first quarter:
* Novartis Business Services (NBS), our cross-divisional services
organization, continues to deliver sustainable savings, with a disciplined
approach to investment and ensuring quality services. We are building
strategic partnerships with key vendors to create value, and are driving
productivity through process simplification and automation. Furthermore, we
continue to optimize our geographical footprint to further strengthen our
capabilities centered on our five Novartis Global Service Centers.
* Novartis Technical Operations (NTO) is fully operating in the new
organizational set up and continues to advance our productivity programs. A
synergy and savings roadmap is being implemented with a five-year time
horizon.
* Global Drug Development (GDD) was implemented in 2016, overseeing drug
development across the innovative medicines and the biosimilars portfolio.
The enterprise-wide approach to portfolio management enables better resource
allocation and increased R&D productivity.
* Novartis continues to focus on compliance, reliable product quality and
sustainable efficiency as part of our quality programs. A total of 46 global
health authority inspections were completed in Q1 2017, 12 of which were
conducted by the FDA. All were deemed good or acceptable.
Capital structure and net debt
Retaining a good balance between investment in the business, a strong capital
structure and attractive shareholder returns remains a priority.
In January 2017, Novartis announced an up to USD 5 billion share buyback to be
executed on the second trading line. In Q1 of 2017, Novartis repurchased 16.2
million shares under this buyback and 2.7 million shares to mitigate dilution
related to equity-based participation plans of associates. In
addition, 1.7 million shares were repurchased from associates, and 12.1 million
treasury shares were delivered as a result of options exercised and share
deliveries related to participation plans of associates. Consequently, the total
number of shares outstanding decreased by 8.5 million versus December 31, 2016.
Novartis aims to fully offset the dilutive impact from equity-based
participation plans of associates. These treasury share transactions resulted in
a net cash outflow of USD 1.1 billion.
In the first quarter of 2017, Novartis issued bonds denominated in US dollars
and euro for total notional amounts of USD 3.0 billion and USD 2.0 billion,
respectively.
As of March 31, 2017 net debt increased by USD 7.0 billion to USD 23.0 billion.
The increase was mainly driven by the USD 6.5 billion annual dividend payment,
share repurchases, and M&A related payments.
The long-term credit rating for the company continues to be double-A (Moody's
Investors Service Aa3; S&P Global Ratings AA-; Fitch Ratings AA).
2017 Outlook
Barring unforeseen events
We confirm our outlook as presented at the beginning of 2017. Group net sales in
2017 are expected to be broadly in line with the prior year (cc), after
absorbing the impact of generic competition, including the continued
genericization of Gleevec/Glivec in the US and Europe.
From a divisional perspective, we expect net sales performance (cc) in 2017 to
be as follows:
* Innovative Medicines: revised upward to broadly in line with prior year, to
a slight increase
* Sandoz: revised down to broadly in line with prior year, due to the delay of
US Glatopa 40mg
* Alcon: broadly in line with prior year to low single digit growth
Group core operating income in 2017 is expected to be broadly in line with prior
year to a low single digit decline (cc).
If mid-April exchange rates prevail for the remainder of 2017, the currency
impact for the year would be negative 2 percentage points on sales and negative
3 percentage points on core operating income. The estimated impact of exchange
rates on our results is provided monthly on our website.
Summary Financial Performance
Innovative Medicines Q1 2017 Q1 2016 % change
USD m USD m USD cc
----------------------------------------------------------------------
Net Sales 7 692 7 729 0 2
Operating income 1 721 2 180 -21 -17
As a % of sales 22.4 28.2
Core Operating income 2 426 2 602 -7 -3
As a % of sales 31.5 33.7
----------------------------------------------------------------------
Sandoz Q1 2017 Q1 2016 % change
USD m USD m USD cc
----------------------------------------------------------------------
Net Sales 2 430 2 445 -1 1
Operating income 343 346 -1 -2
As a % of sales 14.1 14.2
Core Operating income 460 485 -5 -6
As a % of sales 18.9 19.8
----------------------------------------------------------------------
Alcon Q1 2017 Q1 2016 % change
USD m USD m USD cc
----------------------------------------------------------------------
Net Sales 1 417 1 426 -1 1
Operating loss/income -43 31 nm nm
As a % of sales -3.0 2.2
Core Operating income 187 243 -23 -18
As a % of sales 13.2 17.0
----------------------------------------------------------------------
Corporate Q1 2017 Q1 2016 % change
USD m USD m USD cc
----------------------------------------------------------------------
Operating loss -99 -106 7 -6
Core Operating loss -63 -69 9 -8
----------------------------------------------------------------------
Total Group Q1 2017 Q1 2016 % change
USD m USD m USD cc
----------------------------------------------------------------------
Net Sales 11 539 11 600 -1 2
Operating income 1 922 2 451 -22 -19
As a % of sales 16.7 21.1
Core Operating income 3 010 3 261 -8 -5
As a % of sales 26.1 28.1
Net income 1 665 2 011 -17 -15
EPS (USD) 0.70 0.85 -18 -15
Cash flow from operating activities 2 045 1 542 33
Free cash flow 1 665 1 362 22
----------------------------------------------------------------------
A condensed interim financial report with the information listed in the index
below can be found on our website at
http://hugin.info/134323/R/2098294/794662.pdf.
Novartis Q1 2017 Condensed Interim Financial Report - Supplementary Data
INDEX Page
-------------------------------------------------------------------------------
GROUP AND DIVISIONAL OPERATING PERFORMANCE Q1 2017
Group 2
Innovative Medicines 4
Sandoz 11
Alcon 12
-------------------------------------------------------------------------------
CASH FLOW AND GROUP BALANCE SHEET 14
-------------------------------------------------------------------------------
INNOVATION REVIEW 16
-------------------------------------------------------------------------------
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
Consolidated income statements 24
Condensed consolidated statements of comprehensive income 25
Condensed consolidated balance sheets 26
Condensed consolidated changes in equity 27
Condensed consolidated cash flow statements 28
Notes to condensed interim consolidated financial statements, including 29
update on legal proceedings
-------------------------------------------------------------------------------
SUPPLEMENTARY INFORMATION 36
CORE RESULTS
Reconciliation from IFRS to core results 38
Group 39
Innovative Medicines 40
Sandoz 41
Alcon 42
Corporate 43
ADDITIONAL INFORMATION
Condensed consolidated changes in net debt / Share information 44
Free cash flow 45
Net sales of the top 20 Innovative Medicines products 46
Innovative Medicines sales by business franchise 47
Net sales by region 48
Currency translation rates 49
Income from associated companies 50
-------------------------------------------------------------------------------
DISCLAIMER 51
-------------------------------------------------------------------------------
Disclaimer
This press release contains forward-looking statements that can be identified by
words such as such as "growth drivers," "momentum," "positive CHMP opinion,"
"Priority Review," "path forward," "growth plan," "outlook," "expected,"
"confidence," "growth phase," "expect," "launch," "continued focus," "launch
trajectory," "launches," "pipelines," "investigational," "Breakthrough Therapy,"
"suggests," "may," "pipeline," "strategic review," "under consideration,"
"will," "for the future," "continued," "being implemented," "would," "ongoing,"
"continuing," "evaluating," "investigating," "may," "potential," "proposed,"
"option," "commitment," "planned," "to further strengthen," "to maximize,"
"initiating," "under review," "subject to," "explore," "exploring," "aims,"
"toward," "to accelerate," "recommended," "Fast Track," "being co-developed,"
"growing," "roadmap," "time horizon," "remains," "estimated," "underway,"
"filed," "expects," "submitted," "can," "on track," or similar expressions, or
by express or implied discussions regarding potential new products, potential
new indications for existing products, or regarding potential future revenues
from any such products; potential shareholder returns or credit ratings; or
regarding the potential outcome of the announced review of options being
undertaken to maximize shareholder value of the Alcon Division; or regarding the
potential financial or other impact on Novartis or any of our divisions of the
significant reorganizations of recent years, including the creation of the
Pharmaceuticals and Oncology business units to form the Innovative Medicines
Division, the creation of the Global Drug Development organization and Novartis
Operations (including Novartis Technical Operations and Novartis Business
Services), the transfer of the Ophthalmic Pharmaceuticals products of our Alcon
Division to the Innovative Medicines Division, the transfer of selected mature,
non-promoted pharmaceutical products from the Innovative Medicines Division to
the Sandoz Division, and the transactions with GSK, Lilly and CSL; or regarding
the potential impact of the share buyback plan; or regarding potential future
sales or earnings of the Novartis Group or any of its divisions; or by
discussions of strategy, plans, expectations or intentions. You should not place
undue reliance on these statements. Such forward looking statements are based on
the current beliefs and expectations of management regarding future events, and
are subject to significant known and unknown risks and uncertainties. Should one
or more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those set
forth in the forward looking statements. There can be no guarantee that any new
products will be approved for sale in any market, or that any new indications
will be approved for any existing products in any market, or that any approvals
which are obtained will be obtained at any particular time, or that any such
products will achieve any particular revenue levels. Nor can there be any
guarantee that the review of options being undertaken to maximize shareholder
value of the Alcon Division will reach any particular results, or at any
particular time. Neither can there be any guarantee that Novartis will be able
to realize any of the potential strategic benefits, synergies or opportunities
as a result of the significant reorganizations of recent years, including the
creation of the Pharmaceuticals and Oncology business units to form the
Innovative Medicines Division, the creation of the Global Drug Development
organization and Novartis Operations (including Novartis Technical Operations
and Novartis Business Services), the transfer of the Ophthalmic Pharmaceuticals
products of our Alcon Division to the Innovative Medicines Division, the
transfer of selected mature, non-promoted pharmaceutical products from the
Innovative Medicines Division to the Sandoz Division, and the transactions with
GSK, Lilly and CSL. Neither can there be any guarantee that shareholders will
achieve any particular level of shareholder returns. Nor can there be any
guarantee that the Group, or any of its divisions, will be commercially
successful in the future, or achieve any particular credit rating or financial
results. In particular, management's expectations could be affected by, among
other things: regulatory actions or delays or government regulation generally;
the potential that the strategic benefits, synergies or opportunities expected
from the significant reorganizations of recent years, including the creation of
the Pharmaceuticals and Oncology business units to form the Innovative Medicines
Division, the creation of the Global Drug Development organization and Novartis
Operations (including Novartis Technical Operations and Novartis Business
Services), the transfer of the Ophthalmic Pharmaceuticals products of our Alcon
Division to the Innovative Medicines Division, the transfer of selected mature,
non-promoted pharmaceutical products from the Innovative Medicines Division to
the Sandoz Division, and the transactions with GSK, Lilly and CSL may not be
realized or may take longer to realize than expected; the inherent uncertainties
involved in predicting shareholder returns or credit ratings; the uncertainties
inherent in the research and development of new healthcare products, including
clinical trial results and additional analysis of existing clinical data; our
ability to obtain or maintain proprietary intellectual property protection,
including the ultimate extent of the impact on Novartis of the loss of patent
protection and exclusivity on key products which commenced in prior years and
will continue this year; safety, quality or manufacturing issues; global trends
toward health care cost containment, including ongoing pricing and reimbursement
pressures, such as from increased publicity on pharmaceuticals pricing,
including in certain large markets; uncertainties regarding actual or potential
legal proceedings, including, among others, actual or potential product
liability litigation, litigation and investigations regarding sales and
marketing practices, intellectual property disputes and government
investigations generally; general economic and industry conditions, including
uncertainties regarding the effects of the persistently weak economic and
financial environment in many countries; uncertainties regarding future global
exchange rates; uncertainties regarding future demand for our products; and
uncertainties regarding potential significant breaches of data security or data
privacy, or disruptions of our information technology systems; and other risks
and factors referred to in Novartis AG's current Form 20-F on file with the US
Securities and Exchange Commission. Novartis is providing the information in
this press release as of this date and does not undertake any obligation to
update any forward-looking statements as a result of new information, future
events or otherwise.
All product names appearing in italics are trademarks owned by or licensed to
Novartis Group Companies. Enbrel(®) is a registered trademark of Amgen Inc.
MabThera(®) and Rituxan(®) are registered trademarks of F. Hoffmann-la Roche AG.
Humira(®) is a registered trademark of AbbVie Inc. Stelara(®) is a registered
trademark of Janssen Biotech, Inc. Jakafi(®) is a registered trademark of Incyte
Corporation.
About Novartis
Novartis provides innovative healthcare solutions that address the evolving
needs of patients and societies. Headquartered in Basel, Switzerland, Novartis
offers a diversified portfolio to best meet these needs: innovative medicines,
eye care and cost-saving generic pharmaceuticals. Novartis is the only global
company with leading positions in these areas. In 2016, the Group achieved net
sales of USD 48.5 billion, while R&D throughout the Group amounted to
approximately USD 9.0 billion (USD 8.4 billion excluding impairment and
amortization charges). Novartis Group companies employ approximately 118,000
full-time-equivalent associates. Novartis products are sold in approximately
155 countries around the world. For more information, please visit
http://www.novartis.com.
Important dates
May 30-31, 2017 Meet Novartis Management investor event in Boston, MA
July 18, 2017 Second quarter results 2017
October 24, 2017 Third quarter results 2017
Please find full media release in English attached and on the following link:
http://hugin.info/134323/R/2098294/794691.pdf
Further language versions are available through the following links:
German version is available through the following link:
http://hugin.info/134323/R/2098296/794693.pdf
French version is available through the following link:
http://hugin.info/134323/R/2098295/794692.pdf
IFR (PDF):
http://hugin.info/134323/R/2098294/794662.pdf
Media release (PDF):
http://hugin.info/134323/R/2098294/794691.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Novartis International AG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.04.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 537969
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contact information:
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