Novartis’ second-quarter earnings, announced Thursday, show strong performance of its blockbuster dr-gs, prompting the company to raise its year-end guidance.
Novartis announced its second-quarter results Thursday, exceeding revenue expectations thanks to the continued revenue generated by its blockbusters, including the heart failure dr-g Entresto and arthritis treatment Cosentyx.
The company’s net sales were $12.5 billion in the second quarter, an 11% increase from Q2 2023. This exceeded the analyst consensus of $12.28 billion, according to the financial research firm InvestorPlace. Novartis also reported earnings per share at $1.97, above the analysts’ estimate of $1.86.
An analyst report from Jefferies said Novartis’ growth was “widely expected.” That’s despite the company making multiple announcements of impending layoffs totalling some 700 employees.
https://www.biospace.com/business/despite-layoff-announcements-novartis-beats-q2-expectations