On April 25, Novartis, a globally renowned pharmaceuticals and healthcare company, raised its full-year earnings forecast, citing strong growth momentum.
Excluding the generics unit Sandoz, which is set to be spun off in the second half of this year, the group's core operating income is expected to grow by a "high single-digit to low double-digit" percentage, the company said in a statement. It had previously forecast growth in the "mid-to-high single digits."
Novartis' sales in the first quarter increased by 3% to reach $12.95 billion, surpassing analysts' expectations of $12.55 billion. Novartis stated that it is on track to complete the spin-off of Sandoz in the second half of this year.