Drugs giant Novartis posts $2.08 billion Q4 net profit

Drugs giant Novartis posts $2.08 billion Q4 net profit

PanARMENIAN.Net - Swiss drug maker Novartis AG has reported a fourth-quarter net profit of $2.08 billion, AP said.

The result is 72 percent higher than the $1.21 billion net profit reported for the last quarter of 2011 when the Basel-based company took a $900-million after ending its clinical study into wider uses of the hypertension drug Tekturna.

Novartis said Wednesday, January 23 that fourth-quarter sales in 2012 were almost flat at $14.83 billion compared with $14.78 billion in the same period the previous year.

The company also said that long-time chairman and former chief executive Daniel Vasella will leave the board at the next shareholders' meeting at the end of February.

 Top stories
According to Gagik Beglaryan, the Chinese side put forward a number of proposals on the implementation of the railway construction project.
ContourGlobal expects the modernization to create 150 near-term jobs in addition to the 150 long-term technicians employed.
The President declared that we will cover only the population's expenses, meaning people who spend 250 kW of electricity per month.
The proposed additional financing will raise the total length of roads to 360 km, 73 km of which have already been rehabilitated.
Partner news