The Strategist

Novartis net profit for 2019 decreases by 7%


01/29/2020 - 08:58



The net profit of the pharmaceutical company Novartis in 2019 amounted to $ 11.737 billion, showing a decrease of 7% compared with the previous year, the company said.



--Andrew- via flickr
--Andrew- via flickr
The diluted earnings per share for the year totaled $ 5.06 versus $ 5.38 a year earlier. Last year's Novartis revenue was $ 47.498 billion, up 6%.

In the fourth quarter, the company's net profit amounted to $ 1.129 billion, which is 5.4% lower than the same period in 2018. Diluted earnings per share were $ 0.49 versus $ 0.51 a year earlier. The company's revenue grew by 7.8% to $ 12.403 billion.

The company explains the increase in revenue for the fourth quarter by strong performance, mainly due to the preparations Entresto, Zolgensma, Cosentyx and Kisqali, which was partially offset by negative price impact and competition in the generic market.

Founded in 1996 in Swiss Basel, Novartis International AG is the second largest pharmaceutical company in Europe. The company operates in 155 countries.

source: bloomberg.com




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