(Photo: Sebastien Bozon/AFP)
Basel-based pharmaceutical giant Novartis said on Tuesday that its third-quarter net profit fell by 42 percent to $1.8 billion, partially due to provisions to settle a US corruption case.
However, the world’s largest pharmaceutical company in terms of sales confirmed its 2015 targets, including sales growth from continuing operations in mid-single digits excluding exchange rate effects and growth in operating income in the high single digits.
Last year the company, which makes the high blood pressure treatment Diovan, posted operating income of $10.7 billion on net sales of $58 billion.
The original article can be found at www.thelocal.ch