Novartis raises 2013 outlook to reflect strong Q3

Swiss pharmaceutical company Novartis has delivered a strong sales performance in the third quarter of 2013 according to the recent publication of its financial results. Group net sales were up by 4% to US $14.3 billion this quarter, which means a 2% increase overall in the first nine months of 2013.

All divisions contributed to this growth. Net sales in the Pharmaceuticals division reached $7.9 billion, up 1% in the third quarter, driven by a strong volume increase and pricing in products such as Gilenya and Xolair, and partly offset by the impact of generic competition. Alcon's net sales amounted to a 3% increase in the third quarter, benefiting from strong growth in the Surgical franchise, while net sales in Sandoz increased by 11% to $2.3 billion. In the third quarter, Sandoz continued to strengthen its global leadership in biosimilars, achieving its second straight quarter of sales over $100 million. The Vaccines and Diagnostics division had a sales increase of 2%, driven by Menveo sales, but partly offset by a later start to the supply for the US flu season. Consumer Health, which comprises OTC and Animal Health, also saw a strong sales increase this quarter.

"Novartis delivered strong sales performance in the third quarter, with all divisions contributing to growth. We achieved impressive momentum in innovation, and set an industry record with our third FDA Breakthrough Therapy designated product of the year for BYM338 in a degenerative muscle disease. Our strategy of leading through science-based innovation is the right one for the business, for patients, and for our shareholders."

Joseph Jimenez, CEO of Novartis.

To reflect this strong third quarter, Novartis has increased its 2013 Group outlook to low to mid-single digit growth.