04.19.18

Novartis Confirms 2018 Targets as Alcon Recovery Gains Steam

Source: Reuters

Swiss drugmaker Novartis’ first quarterly results under new CEO Vas Narasimhan have been marred by a prized psoriasis treatment that disappointed and a sharp slump in sales by its U.S. generics unit, according to a report in Reuters.

The stock declined 2.2 percent at 1200 GMT, more than double the fall of the broader European Healthcare index after the company released first-quarter earnings.

While Narasimhan confirmed 2018 growth targets, his Cosentyx drug for psoriasis and arthritis missed analyst expectations with revenue plunging from the fourth quarter.

Read the full article.

 

Related Content