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01-01-1970 12:00 AM | Source: Reuters
Novartis fourth-quarter sales, core net income trail analyst expectations
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ZURICH - Novartis's fourth-quarter sales and profit rose less than analysts expected, as the Swiss drugmaker said on Tuesday that the COVID-19 pandemic affected divisions including opthalmology, dermatology and its generics unit.
Core net income in the final three months of 2020 rose 3% in constant currencies to $3.03 billion, compared to the average forecast of $3.15 billion in a Refinitiv poll of analysts. Sales rose 1% to $12.77 billion, compared to $12.88 billion forecast in the poll.
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