Novartis misses on rev, tops sales estimates in Q1

Shares in Novartis (NYSE:NVS) rose today after the pharmaceutical company met expectations on Wall Street with its 1st quarter earnings, but missed on sales largely thanks to growing pressure from generics to the company’s top-selling chemotherapy, Gleevec.

The company posted profits of $1.92 billion, or 22¢ per share, on sales of $11.53 billion for the 3 months ended March 31, for bottom-line loss of -22% on sales loss of -1% compared with the same period last year.

Get the full story at our sister site, Drug Delivery Business News.

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