Novartis lifts full-year earnings on higher prescriptions

  • 📰 Reuters
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Novartis raised its full-year earnings outlook, citing strong growth momentum after scoring a trial success for a key breast cancer drug and making progress on boosting production of a radiotherapy drug against prostate cancer.

raised its full-year earnings outlook, citing strong growth momentum after scoring a trial success for a key breast cancer drug and making progress on boosting production of a radiotherapy drug against prostate cancer.

The Swiss drugmaker said in a statement on Tuesday that when excluding Sandoz, the generic-drug division that will be spun off during the second half of the year, group core operating income would grow by a "high single digit to low double digit" percentage.First-quarter group sales gained 3% to $12.95 billion, above an analyst consensus of $12.55 billion, driven by better than expected revenues from psoriasis and arthritis drug Cosentyx.

Kesimpta, a once-a-month injection against multiple sclerosis, and breast cancer treatment Kisqali also contributed to sales growth, Novartis said.Novartis has struggled with the production ramp-up of Pluvicto against prostate cancer but it said this month that it received approval to add a facility in Millburn, New Jersey, to the sites making the radiotherapy drug.

Providing a confidence boost for the drugmaker's development prowess, the Kisqali breast cancer drug was last month shown to cut the risk of recurrence in women who wereOur Standards:

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Company Builds Facility That Lifts and Lowers 24-Ton Bricks to Store EnergySwitzerland-based startup Energy Vault has broken ground on two huge gravity battery facilities in Texas and just north of Shanghai, China, CNET reports.
Source: futurism - 🏆 85. / 68 Read more »