Novartis reports 4% increase in third-quarter net sales
Novartis International reported an increase in net sales for the third quarter, according to a news release.
Net sales totaled $14.3 billion, a 4% increase over the third quarter 2012. Net sales for the first 9 months of 2013 totaled $42.8 billion, a 2% increase over the first 9 months of 2012.
Net income for the third quarter totaled $2.26 billion, down 6% from the same period in 2012. The decrease was attributed to a negative currency impact.
Core operating income was down 5% from the third quarter of 2012. The decrease resulted from the impact of generic erosion, increased investment in multiple pipeline projects and high cost of goods sold over a low prior-year base, the release said.
Pharmaceutical net sales totaled $7.9 billion, a 1% increase over third quarter 2012. The increase was driven by a 10% growth in volume and a 1% increase in pricing offset by generic competition.
Alcon net sales totaled $2.5 billion, a 3% increase over third quarter 2012. The increase resulted from growth in the surgical franchise, especially in the cataract and LenSx femtosecond laser lines. Ophthalmic pharmaceuticals were up 3% from 2012, and vision care was up 1%.
Alcon operating income was $251 million, down 30% from third quarter 2012. This was attributed to higher integration costs, restructuring and incremental amortization charges.