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Home Industry News Novartis achieves strong business performance in 2013

Novartis achieves strong business performance in 2013

3rd February 2014

Novartis has published its financial results for 2013, expressing satisfaction in its performance in the face of challenging business conditions.    

The company's net sales for the year came to $57.9 billion (35.45 billion pounds), up by two percent year on year, despite a loss of patent exclusivity on key products causing a revenue erosion of $2.2 billion through generic competition.

Novartis was able to offset this through a strong increase in sales of newer growth products, as well as by expanding its presence in emerging markets. The firm continues to broaden its portfolio, achieving 18 product approvals during 2013.

In 2014, the company expects to achieve low to mid-single digit growth once again.

Joseph Jimenez, chief executive officer of Novartis, said: "Novartis delivered strong performance in 2013, growing both net sales and core operating income in constant currencies while absorbing patent expirations."

This comes after the firm was recently included in the Corporate Knights Global 100, a list of the world's top 100 most sustainable companies.ADNFCR-8000103-ID-801689235-ADNFCR

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