Led by the plaque psoriasis treatment Cosentyx, sales at Novartis advanced by 10% to $12.2 billion in the third quarter, exceeding analysts’ expectations, and enabling an upward revision in the company’s guidance for the year as a whole. On a constant currency basis, sales were up by 13% for the quarter.
Novartis now expects sales to increase by a high single-digit percentage this year and core operating income, which excludes impairments and amortisations, to grow by more than 10%. Operating income at the quarter was up by 5% to $2.4 billion, giving an operating margin of 19.4%.