This site is intended for health professionals only

Novartis provides restated consolidated income statement data


Article continues below this sponsored advert
Cogora InRead Image
Explore the latest advances in respiratory care at events delivered by renowned experts from CofE
  • Restated income statement data to reflect new divisional structure
  • Supplementary Alcon pro forma income statement data to provide base for comparison for remainder of 2011
  • New reporting structure effective second quarter 2011

Novartis provides unaudited restated and pro forma consolidated income statement data after the completion of the merger with Alcon, Inc.
The segmental consolidated income statement data has been amended to reflect the new divisional structure following the Alcon merger. The new reporting structure will be effective from the second quarter of 2011.
The new divisional structure reflects the following changes: The Alcon Division will include CIBA Vision and certain Pharmaceuticals Division ophthalmology products. Falcon, the US generics business of Alcon, Inc. is transferred to the Sandoz Division. Certain residual operational costs incurred for the Consumer Health Division headquarters are transferred to Corporate. The restated income statement data reflects the actual Novartis shareholding in Alcon in any given quarter.
These restatements do not change the Group’s total consolidated income statement data released on April 19, 2011.
In addition, supplementary quarterly pro forma consolidated income statements per division are provided for the purpose of setting a base for comparison with the 2011 consolidated income statements of the Novartis Group. The pro forma consolidated income statement data for 2010 down to operating income amends the restated data to reflect the consolidation of Alcon Inc. as if it had occurred on January 1, 2010 and as a consequence includes the 100% consolidation of Alcon, Inc. for the entire calendar year 2010. It also adjusts for the impacts of divestments required by regulators to approve the acquisition as well as for exceptional costs related to the acquisition of the majority ownership of Alcon, Inc. No pro forma data is provided below operating income level.

Be in the know
Subscribe to Hospital Pharmacy Europe newsletter and magazine