Novartis sees year-on-year growth during Q2 2011

Novartis has published its financial report for the second quarter of 2011, a period that was marked by strong year-on-year growth.

During the three months ending on June 30th 2011, the company's net sales total rose by 19 percent in constant currency terms to $14.9 billion (9.2 billion pounds), contributing to an overall first-half growth rate of 16 percent.

Novartis noted that it has secured regulatory approval for four new products in the quarter, with European approvals for Lucentis and Rasilamlo accompanied by positive decisions on Afinitor and Arcapta Neohaler in the US.

Meanwhile, revenues from recently-launched products saw an increase of 46 percent, with the launch of Gilenya highlighted as a particular success.

Joseph Jimenez, chief executive officer of Novartis, said: "Excellent execution behind a sound strategy resulted in another successful quarter for Novartis."

Last month, the firm received a recommendation from Europe's Committee for Medicinal Products for Human Use for approval of Votubia, its new treatment for tuberous sclerosis complex.