Novartis delivers double-digit sales growth for 1st-qtr 2024
Swiss pharma giant Novartis (NOVN: VX) today raised its full-year guidance after reporting better-than-expected first-quarter 2024 results, with the firm’s shares rising as much as 4.8% in early trading.
Net sales were $11.8 billion (+10%, +11% at constant currency; cc), with volume contributing 14 percentage points to growth. Generic competition had a negative impact of 2 percentage points and pricing had negative impact of 1 percentage point.
Operating income was $3.4 billion (+29%, +39% cc), mainly driven by higher net sales.
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