Novartis, Alcon Report Growth In Second Quarter of 2018
Tuesday, July 24 2018 | 09 h 56 min | Financial News, News
Both Novartis and Alcon reported that their net sales grew by 5%, while Alcon’s core operating income grew 14%.
Alcon’s net sales were USD 1.8 billion, mainly driven by double digit growth in sales of IOLs and micro stents. Vision Care sales grew 1% overall, with double digit growth in Dailies Total and a decline in weekly/monthly lenses. Alcon’s results reflect the sixth consecutive quarter of net sales growth as a result of improved operations, innovation, and customer relationships.
Commenting on the results, Vas Narasimhan, CEO of Novartis, said: “We made significant progress this quarter to transform Novartis into a focused medicines company. We completed the Alcon strategic review, exited the OTC joint venture, and strengthened our innovation engine with the acquisition of AveXis. Operationally we delivered solid growth, with margins expanding and key growth drivers including Cosentyx delivering strong performance.”
Novartis recently announced it would be spinning off Alcon into an independent eye care device company.
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