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Novartis financial growth climbed 14% last year


Novartis achieved strong financial growth in 2010, with net sales climbing 14% to US$50.6billion.

The manufacturer, which markets the cardiovascular drug Diovan and diabetes drug Eucreas, saw solid sales growth in the fourth quarter and net sales up 10% to $14.2billion.

Over the full year, net sales rose 14% to $50.6billion.

Operating income, which was impacted by one-offs and A(H1N1) pandemic flu vaccine sales in the prior year, rose by 15%.

Continued rejuvenation of the group’s portfolio with recently launched products contributed 21% of net sales ($10.4 billion) in 2010.

Novartis also filed 16 major submissions in the US, EU and Japan last year, including Afinitor for advanced neuroendrocrine tumours and Lucentis for retinal vein occlusion.

The company has 147 products in the pipeline, and its early pipeline for vaccines is developing rapidly.

The Sandoz development organisation is committed to investing in biosimilars and respiratory products.

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