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
Azerbaijan’s aggression against Nagorno Karabakh failed to strike a blow to Armenia’s economy, the Minister of Economy said.
Total underground mineral resources comprised 4.3 million tons of ore, averaging 4.2 grams per ton for 0.6 mln ounces of gold equivalent.
For those with a monthly consumption of 10 thousand cubic meters or more, the current price of $276.98 would be reduced to $257.56.
Azerbaijan is highly dependent on oil revenues and its preliminary 2016 budget indicates reductions in military spending, the report says.
Partner news