Novartis (NVS) Reports In-Line Q3 EPS of $1.21; Guides FY15 Sales Growth

Novartis (NYSE: NVS) reported Q3 EPS of $1.21, in-line with the analyst estimate of $1.21. Revenue for the quarter came in at $14.63 billion versus the consensus estimate of $14.68 billion.

• Strong innovation momentum continues from Q4
  • Cosentyx approved in US and EU for psoriasis; in Japan for psoriasis and psoriatic arthritis
  • Signifor long-acting release formulation approved in US and EU for acromegaly
  • Files submitted for LCZ696 in US and EU, and for QVA149 and NVA237 in US
  • FDA Advisory Committee recommended approval for Sandoz biosimilar filgrastim

• Growth Products[3] and Emerging Growth Markets[3] continued to drive performance in Q4
  • Growth Products grew 14% (USD) to USD 4.7 billion, or 32% of Group net sales
  • Strong performance in Emerging Growth Markets (+12% cc)

• Continued progress in transforming portfolio and increasing productivity
  • Divestment of Animal Health Division to Eli Lilly and Company completed on January 1, 2015
  • Implementation of Novartis Business Services on track
  • Core margin (+1.2 percentage points cc) improved mainly due to ongoing productivity initiatives

• Dividend of CHF 2.60 per share, up 6%, proposed for 2014

• Outlook 2015 for continuing operations:
  • Net sales expected to grow mid-single digit (cc); core operating income expected to grow ahead of sales at a high-single digit rate (cc)
  • Outlook based on modeling assumption that GSK transactions will close on March 31, 2015.

For earnings history and earnings-related data on Novartis (NVS) click here.

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