Novartis delivers solid performance in Q2Staff writer ▼ | July 21, 2015
Novartis delivered solid performance in the second quarter. Net sales amounted to $12.7 billion (-5%, +6% in constant currencies, cc).
Novartis Operating income was $2.3 billion
Core EPS was $1.27 (-7%, +7% cc), and free cash flow was $2.1 billion. Further strengthening of $impacted sales by -11% and core operating income by -13%. Strong performance for Sandoz (net sales +11% cc, core operating income +30% cc) and Pharmaceuticals (net sales +6% cc, core operating income +9% cc), more than offset weak quarter for Alcon (net sales 0% cc, core operating income -10% cc).
Outlook 2015 for continuing operations was confirmed: continuing operations net sales expected to grow mid-single digit (cc); core operating income expected to grow ahead of sales at a high-single digit rate (cc); to reflect first half performance, Novartis raises Sandoz FY guidance to high single digit sales growth (cc), lowers Alcon FY guidance to low single digit sales growth (cc). ■