Novartis

4Q Revenues: $14.8 billion (+4%)

4Q Earnings: $1.2 billion (-47%)

FY Revenues: $58.6 billion (+16%)

FY Earnings: $9.2 billion (-7%)

Comments: Pharmaceuticals sales in quarter were up 4% to $8.3 billion. Alcon sales were $2.4 billion (+6%). Sandoz sales declined 5% to $2.3 billion due to additional competition for enoxaparin, the generic version of Lovenox. Vaccines and Diagnostics sales grew 86% to $671 million. Consumer Health was down 7% to $1.1 billion related to the temporary suspension of production at a U.S. Consumer Health site. Operating income grew 12% to $3.6 billion in the quarter and 14% to $15.9 billion for the year. Earnings in the quarter were impacted by $1.5 billion charges and a negative currency impact of 9%. Recently launched products — Gilenya, Tasigna, Lucentis, Galvus, Afinitor, Xolair and Onbrez Breezhaler — contributed to sales growth in the quarter and year.