Financial Report: Novartis 1Q11

Novartis 1Q11

1Q Revenues: $14.0 billion (+16%)

1Q Earnings: $3.4 billion (+2%)

Comments: Pharmaceuticals sales were up 7% to $7.8 billion. Diovan sales were down 3% to $1.4 billion. Exforge sales were $261 million (+28%). Tekturna/Rasilez sales were $131 million (+47%). Galvus sales were up 74% to $132 million. Gleevec/Glivec sales were $1.1 billion (+4%). Lucentis sales were $444 million (+22%). Sales of Xolair were up 34% to $107 million. Sales at the Sandoz unit were $2.3 billion (+16%), driven by recently launched products, enoxaparin (generic Lovenox) and gemcitabine (generic Gemzar), as well as accelerating biosimilars growth outside Germany. Vaccines & Diagnostics sales were down 73% to $371 million due to 2010 A(H1N1) pandemic flu vaccine sales ($1.1 billion). Consumer Health sales were up 11% to $1.6 billion. Alcon sales were $1.9 billion (+12%).