Novartis Reports Q2 Net Profit of $1.7 Billion, Down 41% Year-over-Year

Gelonghui July 19th :: Swiss pharmaceutical company Novartis released its Q2 report on July 19. Second-quarter sales reached $12.78 billion, a year-on-year decrease of 1% (or an increase of 5% at constant exchange rates); operating profit was $2.23 billion, down 36% year-on-year (down 30% at constant exchange rates), mainly due to gains from disposals in the previous year, higher impairments, and increased restructuring costs; net profit was $1.70 billion, a year-on-year decrease of 41% (down 34% at constant exchange rates).