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
Legendary U.S. investor Warren Buffett regained third place in the list with a net worth of $72.7bn, from Amancio Ortega.
“The European Union expects that this substantial assistance will lead to bold reforms over the next years,” Hristea said.
Over the 9 months of 2014, Ameribank's assets amounted to AMD 334 billion, taking it to the top of Armenia's banking system.
Sergo Karapetyan stated that exports of Armenian fruits (except fort apricots) and vegetables to Russia this year have doubled.
Partner news