Novartis Profits from Emerging Markets

by swisscham in Engineering, Manufacturing

Swiss pharmaceutical group Novartis reported Tuesday that its net profit rose 45% to USD 3.24 billion in the third quarter, on the back of growing business in emerging economies. However, this result contains the one-off effect of USD 800 million from selling its stake in US-based Idenix Pharmaceuticals. Revenues climbed 4% to USD 14.7 billion, compared to the same period last year, Novartis said at its Swiss headquarters in Basel. Novartis increased sales significantly in China, Brazil, and Russia. In addition, sales of recently developed products also added to the strong result. Revenue in this product segment jumped 21% to USD 4.9 billion. The operating profit rose 14% to USD 2.98 billion. Without the negative effect of the strong franc, the increase would have been 18%.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Swiss Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

  • This field is for validation purposes and should be left unchanged.
June 4, 2021
Published By swisstrade.com in Bilateral Relations
June 3, 2021
Published By prnewswire.com in Business
May 28, 2021
Published By chinadaily.com.cn in Engineering / Manufacturing
May 20, 2021
Published By globaltimes.cn in Bilateral Relations
May 18, 2021
Published By globaltimes.cn in Culture & Society