Novartis Q4 Profit Falls On Charges, Lower Vaccine Sales

[mhatrw]

Swiss pharmaceutical giant Novartis AG Thursday reported a drop in profit for the fourth quarter, as it incurred hefty one-time costs and as last year's strong H1N1 vaccine sales did not repeat. The Basel, Switzerland-based company's net income attributable to shareholders for the quarter slipped to $2.17 billion or 0.94 per share from $2.31 billion or 1.01 per share in the prior year. ...

Pharmaceutical sales grew 3 percent to $8.03 billion with a 9 percent growth in Asia/Africa/Australasia and a 12 percent increase in Canada and Latin America.

However, sales of Vaccines and Diagnostics declined 74 percent to $361 million due mainly to the absence of last year's strong H1N1 pandemic flu vaccine sales as well as shipment delays stemming from production issues at one plant.

[mhatrw]

1. Time to scare up a new source of revenue! n/t

[Name removed]

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