BASEL (dpa-AFX) - Swiss drug major Novartis AG (NVS) reported Tuesday higher profit and net sales in its first quarter. Further, the company raised its fiscal 2025 outlook.
For the year, the company now projects core operating income to grow low double-digit and sales to grow high single digit from the prior year.
The company previously expected core operating income to grow high single to low double-digit and net sales to grow mid- to high-single digit.
In its first quarter, net income climbed 34 percent to $3.61 billion from last year's $2.69 billion. Earnings per share were $1.83, up 40 percent from $1.31 last year.
Core net income was $4.48 billion, compared to $3.68 billion a year ago. Core earnings per share were $2.28, compared to $1.80 last year.
Net sales to third parties increased 12 percent to $13.23 billion from last year's $11.83 billion, with volume contributing 15 percentage points to growth. At constant currencies, net sales grew 15%.
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