Novartis reports ‘strong performance’ in first half of 2007

Novartis has published its financial figures for the first half of the 2007 fiscal year, with the company reporting a “strong” performance during this period.

The company reported an increase of 14 per cent of net sales for the group in the first half of the year, to $19.9 billion (9.8 billion pounds), with a corresponding rise in net income of 14 per cent to $4.2 billion.

Earnings per share also rose 14 per cent, up to $1.78 per share, on the back of an 18 per cent rise in net income from continuing operations.

During the first six months of 2007, the company noted the strong performance of a number of new pharmaceutical brands, including Exforge, Exjade, Lucentis and Tekturna.

Dr Daniel Vasella, chairman and chief executive officer of Novartis, said: “All areas of our strategic healthcare portfolio performed well in the first half of 2007 despite some setbacks in the pharmaceuticals division.

“Continuing our focus on innovation, we have already achieved seven major regulatory approvals this year and more are expected in the second half.”

He added that a number of its recently approved products are meeting the “high expectations” of the firm, while its complementary healthcare unit is helping the company address a range of patient needs while equipping it for future challenges in an unpredictable industry.

In April 2007, Novartis announced an 18 per cent rise in net sales for the first quarter, reporting a robust performance in all divisions of the firm.