1Q Revenues: $13.7 billion (-2%)
1Q Earnings: $3.1 billion (-8%)
Comments: Pharmaceutical sales were up 2% to $7.8 billion, driven by Lucentis, Tasigna, Afinitor and Gilenya, which now represent 33% of division sales compared to 26% in 1Q11. Alcon sales were up 5% to $2.5 billion driven by surgical and ophthalmics. Sandoz sales declined 10% to $2.1 billion mainly due to increased competition for enoxaparin, while volume growth was flat. Vaccines and Diagnostics sales were down 19% to $299.0 million mainly due to an exceptionally strong 1Q11. Consumer Health sales dropped 20% to $932 million, impacted by the suspension of production at the Lincoln site.