The company's logo is seen at a building of Swiss drugmaker Novartis in Rotkreuz, Switzerland, January 29, 2020. REUTERS/Arnd Wiegmann/File photoon Tuesday raised its full-year earnings forecast for the third time, citing cost cuts and higher-than-forecast prices for a multiple sclerosis drug.on Oct.
Having come under investor pressure to deliver more development milestones, he scored a major win this year when breast cancer drugFaster-than-planned efficiency gains from the job cuts and more benign cost inflation contributed to the improved outlook, said Chief Financial Officer Harry Kirsch. Third-quarter group sales rose 12% to $11.78 billion, excluding contributions from Sandoz, above an analyst consensus of $11.25 billion provided by the company.
Among products driving the performance, revenues from psoriasis and arthritis drug Cosentyx gained 4% to a better-than-expected $1.33 billion.