Novartis Net Profit Jumps in Q2

Novartis has reported its net profits rise 12 percent to $2.7 billion in the second quarter.

Swiss drugmaker Novartis AG has announced its financial results for the second quarter 2011.

Revenues were up 19% in constant currencies (c.c.) for 2Q11 and +16% YTD. Pharma revenues were up 10% (+2% c.c.) to $8.3 billion in 2Q, with recently launched products contributing $2.3 billion (+34% c.c.). Alcon revenues were up 12% (6% c.c.) to $2.6 billion. Sandoz (generic) revenue rose 25% (16% c.c.) to $2.5 billion.

For the YTD, pharma revenues were up 8% (3% c.c.) to $16.0 billion, with $4.3 billion of that coming from recently launched products. Vaccine sales plummeted in both 2Q and YTD, a result of inflated H1N1 revenues from the previous year. Overall sales in emerging markets rose 27% (19% c.c.) to $1.5 billion in 2Q11.