Novartis shares dip as earnings miss expectations
Shares in Swiss pharma giant Novartis (NOVN: VX) dipped by 1.4% on Wednesday morning as the company announced its fourth quarter and annual financial results.
Fourth quarter core operating profit was $3.39 billion, an 11% constant currency (cc) rise on the same period of 2017 but below the $3.44 billion estimate of analysts polled by Reuters.
Sales in the quarter were $13.27 billion, some 6% up on the final quarter of 2017 (cc) and matching the average of the predictions in the poll.
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