Novartis raises guidance for 2013 after strong first half

Novartis has announced its financial results for the second quarter of 2013, a period marked by growth across all of its business divisions.

The group's net sales for the quarter came to $14.5 billion (9.55 billion pounds), which was up by one percent year over year, while underlying net sales growth for the three months was eight percent when excluding the impact of patent expiries.

During the period, the firm reported positive clinical data for the psoriasis drug AIN457 and achieved key regulatory milestones for Lucentis, Ilaris, Exelon, Simbrinza and RLX30, as well as expanding its presence in developing markets.

Based on its strong performance in the first half of 2013, Novartis has raised its growth forecast for the full year.

Joseph Jimenez, chief executive officer of the company, said: "Novartis delivered a solid second quarter … Successful execution on growth brands allowed us to navigate patent expiries and new competition, while deepening our footprint in emerging growth markets like China and Russia."

Created in 1996, Novartis operates in 140 countries and employs more than 125,000 people worldwide.