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Novartis shares jump on improved outlook

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Novartis shares jump on improved outlook
Photo: Andrew Hecht
18:29 CEST+02:00
Shares in Swiss drug-maker Novartis rose sharply on Tuesday after the company posted increased sales for the third quarter and an improved end-of-year outlook.

Earlier this year, Novartis forecast a significant blow to earnings from the arrival of generic versions of a best-selling drug but, hit by delays, the threat has yet to materialize.
   
In the third quarter, the drugs company saw sales rise by four percent to $14.3 billion while net profit fell by six percent to $2.26 billion.
   
On the Zurich stock market, which was up 0.65 percent overall in afternoon trading, Novartis shares were showing a gain of 1.69 percent to 69.10 francs.

 
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