New products lift Novartis sales by 9%

Shares of Swiss pharma giant Novartis (NOVN: VX) were up 1.48% at 93.96 Swiss Francs by mid-morning today, as it posted fourth-quarter and full year 2019 results and a positive outlook for the coming year.

Net sales were $12.40 billion in the fourth quarter, a rise of 9%, narrowly exceeded analyst estimates. Sales for the full year were also up 9% at $47.45 billion at constant exchange rates.

Net income in the fourth quarter totaled $1.13 billion, down 6% from $1.20 billion the year before, the company said. An analysts’ consensus forecast provided by FactSet had estimated net income of $2.36 billion and sales of $12.33 billion. For the full year, net income was down 41% at $7.15 billion, as the prior year benefited from a $5.7 billion net gain recognized from the sale of Novartis’ stake in the GlaxoSmithKline consumer healthcare joint venture.