// IP Marketing video - START// IP Marketing video - END

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
A report said the slowdown is because of low commodity prices that are hurting energy exporting countries like Azerbaijan and Uzbekistan.
Karapetyan stressed the importance of employing modern technologies, adding that the government is ready to support the business entities.
90 local organizations representing the country’s agricultural product processing industry participate in the trade show.
Annual deflation in the country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data.
Partner news