Novartis Reports 17% Growth in Q2 Adjusted Operating Profit, Beats Expectations and Raises Full-Year Guidance

Gelonghui July 18 | Swiss pharmaceutical company Novartis reported its Q2 results, with net sales reaching $12.512 billion, a year-on-year increase of 9%; net profit was $3.246 billion, a year-on-year increase of 43%; adjusted operating profit was $4.953 billion, a year-on-year increase of 17%, surpassing market expectations of $4.6 billion. During the period, the sales of the company's heart drug Entresto and arthritis drug Cosentyx increased by 25% and 20%, respectively, while the sales of multiple sclerosis drug Kesimpta surged by 63%, all exceeding market expectations. The company raised its full-year earnings guidance for the second time, benefiting from the growth in prescription drug sales. It is expected that the full-year adjusted operating profit will record mid-to-high double-digit growth, compared to the earlier forecast of low-to-mid double-digit growth.