BASEL (dpa-AFX) - Swiss drug major Novartis AG (NVS) reported Wednesday lower profit in its fourth quarter, despite sales growth. Further, the company lifted dividend, and issued fiscal 2026 outlook, expecting lower core operating income and higher net sales.
In the fourth quarter, net income dropped 15 percent to $2.40 billion from last year's $2.82 billion. Earnings per share were $1.26, down 11 percent from $1.42 a year ago.
Core net income was $3.89 billion, compared to $3.93 billion last year. Core earnings per share were $2.03, compared to prior year's $1.98.
Net sales grew 1 percent to $13.34 billion from prior year's $13.15 billion. Meanwhile, net sales dropped 1% at constant currency exchanges, impacted by US generic erosion and revenue deduction adjustments.
Further, the company has proposed dividend of 3.70 Swiss francs per share, an increase of 5.7% from last year, for 2025.
Looking ahead for fiscal 2026, the company projects net sales to grow low single-digit and core operating income to decline low single-digit.
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