Shares in Novartis suffer as earnings and sales underwhelm

26 January 2021

Swiss pharma giant Novartis (NOVN: VX) was trading nearly 3% lower on Tuesday afternoon after presenting its financial results for the fourth quarter and 2020 as a whole.

Sales for the quarter were up 3% at $12.77 billion, below the $12.88 billion forecast by analysts polled by Refinitiv.

"Novartis delivered a solid performance in 2020 across our strategic priorities, despite the challenges of COVID-19"Fourth-quarter core net income rose 2% to $3.03 billion, compared to the average analyst forecast of $3.15 billion.

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