Novartis hails ‘solid’ performance in first quarter of 2013

Novartis has expressed satisfaction with its financial performance during the first quarter of 2013, during which it achieved year-on-year sales growth of two percent.

The company's $14 billion (8.98 billion pounds) sales total was bolstered significantly by the contribution of growth products such as Gilenya, Afinitor, Tasigna, Galvus, Lucentis, Xolair, Arcapta Neohaler/Onbrez Breezhaler and Jakavi.

Comprising 30 percent of its sales for the quarter, the performance of these products – plus its expanding presence in emerging markets – more than made up for the $500 million loss caused by increased generic competition.

Moreover, the firm was able to achieve key EU and US approvals for products such as Jetrea, Bexsero, Exjade and Zortress, which will help it to maintain its recent momentum in terms of new launches.

Joseph Jimenez, chief executive officer of Novartis, said: "Novartis delivered a solid quarter with all divisions contributing to growth. Significant expansion in our growth products helped to offset the impact of patent expirations."

Last week, the UK's National Institute for Health and Care Excellence granted Novartis a final recommendation for the asthma therapy Xolair, which will make the drug more widely available to NHS patients.