Business | Retail

Novartis fourth quarter net profit rebounds to $2.08b

Swiss drug maker’s net profit during the final quarter of last year rose 72%

  • AP
  • Published: 15:28 January 23, 2013
  • Gulf News

Berlin: Swiss drug maker Novartis AG reported a jump in fourth-quarter net profit to $2.08 billion (Dh7.6 billion) on Wednesday, citing the lack of a $900-million one-time charge it took in the same period the previous year. Net profit during the final quarter of last year rose 72 per cent from the $1.21 billion net profit posted in the final three months of 2011, when the Basel-based company took a hit from ending its clinical study into wider uses of the hypertension drug Tekturna. Chief Executive Joseph Jimenez said Novartis has a strong range of new products coming out of its research and development pipeline — including a new infant vaccine for meningitis — and predicted net sales to grow after 2013.

Gulf News
Retail Gold Rate
Business Editor's choice
Quick Access

  1. Markets

  2. Economy

  3. Property

  4. Aviation

Business Top Stories

  1. iPhone 6 snag leaves supply chain scrambling

  2. Yen, Swiss franc rise versus euro on Ukraine

  3. Ford recalling more than 160,000 vehicles

  4. After breakups, newspapers seek path forward

  5. Global cruise lines set sail for China