Novartis delivered solid Q2 despite full quarter of US Gleevec generic impact; significant positive innovation news strengthens future growth prospects

  • Q2 net sales were flat (0% cc[1]) as Growth Products[2] offset Gleevec generic impact
    • Gilenya (USD 811 million, +17% cc) continued to grow double-digit mainly due to volume growth
    • Cosentyx (USD 260 million) grew strongly driven by its three approved indications
  • Core[1] operating income declined (-4% cc) due to generic erosion and growth investments
    • Core M&S expenses up 0.8 percentage points (cc) to 24.6% of sales, mainly driven by Cosentyx, Entresto and Alcon …
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