Novartis Q3 net income declinedChristian Fernsby ▼ | October 27, 2020
Novartis reported that its third quarter net income declined 5% to $1.93 billion from last year, as higher operating income was offset by a higher tax rate.
Novartis Third quarter net income declined 5% to $1.93 billion
Net sales for the third quarter were up 1% from last year, driven by volume growth of 7 percentage points, offset by price erosion of 4 percentage points and the negative impact from generic competition of 3 percentage points.
Net sales were flat at constant currencies basis. ■