ZURICH, Jan 26 — Swiss pharmaceuticals giant Novartis said today that its 2020 net profit jumped 13 per cent to US$8.1 billion (RM32.8 billion) after a restructuring saw it hive off its Alcon business.
Sales edged up 3.0 per cent to US$48.7 billion, the company said in a statement.
Analysts surveyed by Swiss group AWP had forecast sales at around US$49.1 billion.
Boss Vas Narasimhan said that despite the challenges posed by Covid-19, the company had put in an “excellent performance” last year.
The pandemic saw sales swing sharply in the first half of 2020 as health services stocked up medicines even as doctor consultations fell.
Government lockdowns to curb the pandemic had a greater impact on some sectors than others, it said, citing opthalmology and dermatology.
Sales at its generic medicines unit Sandoz were down 1.0 per cent on the year while the main pharmaceuticals division posted a gain of 3.0 per cent, helped by demand for its new cardiac treatments such as Entresto.
Novartis said it expects sales to rise this year in the bottom to the middle of a 1.0-5.0 per cent range. — AFP
