New Drugs Lift Novartis Profit 12%

Sales of recently launched products contributed $3.8 billion to overall group sales, which were up 27% at $14.9 billion.

Swiss pharmaceutical company Novartis said on July 19 that its second quarter net profit rose 12% to $2.72 billion.

"Our recently launched products continue to transform our portfolio, our new products grew 46% and represent now 25% of our group sales in Q2," said Joseph Jimenez, Novartis chief executive officer.

Sales of recently launched products contributed $3.8 billion to overall group sales, which were up 27% at $14.9 billion.

Currency impact lent an 8% boost to overall revenues.

For the rest of the year, the group said it was maintaining its forecast for sales growth reaching "around the double-digit mark.

Copyright Agence France-Presse, 2011

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