Novartis’ net sales rise 9 per cent

Novartis’ net sales have risen nine per cent to $41.5 billion (29.3 billion pounds), it has been revealed.

The figure – announced as part of the company’s 2008 results – was accompanied by operating income advances of 32 per cent to $9 billion.

Net income for the organisation was also up 25 per cent to $8.2 billion.

Commenting on the results, chairman and chief executive officer of Novartis Dr Daniel Vasella said the performance over the year was attributable to “successful innovation and leading market position”.

He added: “Pharmaceuticals returned to dynamic growth and gained market share in the second half of the year, while vaccines and diagnostics continued its double-digit growth.”

Dr Vasella went on to note the organisation anticipates another year of “record results” in 2009.

The company’s third-quarter results – released in October last year – revealed the company’s net sales had risen 12 per cent, while operating income had increased 24 per cent.