BASEL, Switzerland, Oct. 20, 2003 (PRIMEZONE) -- Novartis (NYSE:NVS):
-- Group nine-month sales up 18%; Pharmaceuticals climbs 18% and continues
to outpace the market; Sandoz posts 67% sales growth and leads the
industry
-- Key products deliver top performance: Diovan secures global segment
leadership; Gleevec/Glivec benefits from first-line indication and
sustains dynamic growth
-- Xolair and Stalevo launch in the US; first European approvals for
Certican and Prexige; additional US approval for Trileptal; Zelnorm US
prescriptions rise more than 60% in recent weeks
-- Group nine-month operating income expands 15%, despite continued high
investments in R&D
-- Nine-month free cash flow jumps 65%; net income increases 3% and
earnings per share rise 6%
Commenting on Novartis' nine-month results published today, Dr. Daniel Vasella, Chairman and CEO, said: "I am pleased that we have succeeded in delivering sustained double-digit growth in both divisions. Pharmaceuticals is gaining share in all our key markets. The cardiovascular franchise, especially Diovan, achieved the top position in its fast-growing global segment, and oncology sustained its dynamic first-half growth rate. Our generics business grew to become a global leader, contributing a cost-effective solution to help meet patient needs, while addressing healthcare budgetary constraints. Our operating income rose 15%, even as we continued our strategic investments in R&D to maintain a top innovation position and secure a sustainable dynamic growth rate."
The full report including tables can be downloaded from the enclosed link: