Novartis improved its profitability in 2020 against a modest increase in sales and continuing pressure on prices and competition from generics. Sales for the year amounted to $48.7 billion, up by 3% from a year earlier. Operating income was $10.2 billion, up by 12% giving an operating margin of 20.9%. This compares favourably with a margin of 19.2% the previous year.
