Novartis posts $1.6 billion third quarter income

Novartis reported a net income of $1.6 billion, or $0.70 earnings per share, in the third quarter of 2018 compared with a net income of $2.1 billion, or $0.89 earnings per share, in 2017’s third quarter.

Net sales were up 3% from $12.4 billion to $12.8 billion for the quarter, while operating income was down 18% to $1.9 billion from $2.4 billion, according to a press release.

Alcon, the company’s eye care business, which is set to be spun off into a stand-alone company, reported sales of $1.8 million in the quarter, an increase of 3%.

It had an operating loss of $297 million compared with a loss of $2 million in 2017’s third quarter, which was due to the voluntary withdraw of the CyPass micro-stent, the release said.

Novartis reported a net income of $1.6 billion, or $0.70 earnings per share, in the third quarter of 2018 compared with a net income of $2.1 billion, or $0.89 earnings per share, in 2017’s third quarter.

Net sales were up 3% from $12.4 billion to $12.8 billion for the quarter, while operating income was down 18% to $1.9 billion from $2.4 billion, according to a press release.

Alcon, the company’s eye care business, which is set to be spun off into a stand-alone company, reported sales of $1.8 million in the quarter, an increase of 3%.

It had an operating loss of $297 million compared with a loss of $2 million in 2017’s third quarter, which was due to the voluntary withdraw of the CyPass micro-stent, the release said.