Novartis experiences improved first quarter sales and income

Novartis has expressed satisfaction with its corporate growth in the first quarter of 2010 after revealing its financial report for the three-month period.

The pharmaceutical company’s net sales for the quarter came to $12.1 billion (7.9 billion pounds), an increase of 25 per cent compared to the first three months of 2009, while operating income grew by 50 per cent in the same timeframe.

It attributed this strong growth to the company’s expanding presence in emerging markets and improved productivity, while also highlighting key achievements such as the regulatory approval received in Europe and the US for its drug Menveo.

Joseph Jimenez, chief executive officer of Novartis, stated that the company will now be looking to continue this momentum via further portfolio expansions, as well as through the acquisition of Alcon.

He said: “We are focusing on extending our lead in innovation, driving growth and improving productivity, which we believe will generate greater sustainable value from our portfolio.”

Last week, the company presented new clinical trial data for its multiple sclerosis treatment Gilenia, which supported its efficacy in decreasing relapse rates among patients.