07.25.17
Novartis
2Q Revenues: $12.2 billion (-2%)
2Q Earnings: $2.0 billion (+10%)
YTD Revenues: $23.8 billion (-1%)
YTD Earnings: $3.6 billion (-5%)
Comments: Innovative Medicines sales were $8.3 billion (-1%) in the second quarter, with growth driven by Cosentyx ($490 million, +90% cc), Entresto ($110 million +240% cc), Promacta/Revolade ($210 million, +35% cc), Tafinlar + Mekinist (USD 216 million, +28% cc), Jakavi ($186 million, +32% cc), and Gilenya $837 million, +5% cc). Generic competition had a negative impact of 4 percentage points and pricing had a negative impact of 2 percentage points, both largely due to Gleevec/Glivec generics in Europe and the U.S. Sandoz sales were $2.5 billion, down 5% due to price erosion, mainly in the U.S. Sales in the U.S. declined 15% (cc), mainly due to pricing pressure in retail generics and prior year launch timing. Net sales across Europe and the rest of the world grew 3% (cc). Alcon sales were $1.5 billion (+1%) in the second quarter. Surgical sales grew 3% and Vision Care sales grew 2%.
2Q Revenues: $12.2 billion (-2%)
2Q Earnings: $2.0 billion (+10%)
YTD Revenues: $23.8 billion (-1%)
YTD Earnings: $3.6 billion (-5%)
Comments: Innovative Medicines sales were $8.3 billion (-1%) in the second quarter, with growth driven by Cosentyx ($490 million, +90% cc), Entresto ($110 million +240% cc), Promacta/Revolade ($210 million, +35% cc), Tafinlar + Mekinist (USD 216 million, +28% cc), Jakavi ($186 million, +32% cc), and Gilenya $837 million, +5% cc). Generic competition had a negative impact of 4 percentage points and pricing had a negative impact of 2 percentage points, both largely due to Gleevec/Glivec generics in Europe and the U.S. Sandoz sales were $2.5 billion, down 5% due to price erosion, mainly in the U.S. Sales in the U.S. declined 15% (cc), mainly due to pricing pressure in retail generics and prior year launch timing. Net sales across Europe and the rest of the world grew 3% (cc). Alcon sales were $1.5 billion (+1%) in the second quarter. Surgical sales grew 3% and Vision Care sales grew 2%.