Novartis announces “strong operational performance”

Novartis has announced a “strong operational performance” in the first half of this year.

The company made its comments as published its financial results for the first six months of 2009.

In a statement, the firm said that its Animal Health business has remained predominantly unchanged during the period in question, as reduced consumer spending has impacted on the sector.

However, it said that the farm animal business has improved somewhat since 2008, citing wholesaler destocking due to pressures caused by the ongoing global economic downturn as a contributory factor.

“Despite adverse global market conditions, OTC net sales were in line with the 2008 period,” Novartis added.

The company concluded by reaffirming its expectations for a strong operational performance for the rest of 2009.

Earlier this month, the firm announced that it became the first healthcare company to join the United Against Malaria partnership, an organisation that counts Johns Hopkins University and Comic Relief among its members.