ZURICH (Thomson Financial) - Novartis AG. chief executive Daniel Vasella confirmed the pharma group's full-year guidance in an interview with Swiss television SF DRS.
'There is no reason to speak against it,' he said, adding that 2008 'is likely to be a good year'. Vasella was speaking on the sidelines of the Swiss Economic Forum in Thun.
Novartis said in April it expects record sales and earnings in 2008 from continuing operations, while reaffirming its outlook for group net sales growth at a mid-single-digit rate and pharmaceuticals at a low-single-digit rate in local currencies.
Vasella said there will be more good news at the American Society of Clinical Oncology's congress in Chicago, Illinois, taking place from May 30, 2008, to June 3, 2008.
Novartis had earlier this week presented new data for cancer drug RAD001 (everolimus), saying the treatment significantly prolongs time without tumour growth and risk of cancer progression in patients with advanced kidney cancer. andrew.ge.thompson@thomsonreuters.com at/jfr COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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