Novartis confident on growth but quiet on Roche stake sale rumors
Novartis (NOVN: VX) has expressed confidence that it can achieve long-term sustainable growth despite missing first-quarter 2016 sales forecasts.
The company has also declined to comment on speculation that it is looking to free up funds by selling its $14 billion stake in fellow Swiss pharma giant Roche (ROG: SIX).
Generic competition was one of the factors blamed for Novartis’ slump in sales in 2016’s first quarter, which dropped by 3% to $11.6 billion, falling below analysts’ estimates of $11.89 billion.
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