3Q Revenues: $13.8 billion (-7%)
3Q Earnings: $3.3 billion (-8%)
YTD Revenues: $41.8 billion (-4%)
YTD Earnings: $9.7 billion (-7%)
Comments: Pharmaceutical sales were $7.8 billion in the quarter (-5%), in part due to the U.S. patent expiration of Diovan. Alcon net sales were $2.5 billion (-1%). Sandoz sales declined 13% to $2.0 billion. Vaccines and Diagnostics sales were down 11% to $582 million, driven by lower flu sales and shipment delays from one of the company’s manufacturing sites. Consumer Health, which includes OTC and Animal Health, declined 22% to $938 million, impacted by the continuing absence of shipments from the Lincoln, NE manufacturing site. Currency had a negative impact of 5% in the quarter and 3% YTD.