Novartis posts 1 percent growth in 3Q net profit
Published: Thursday October 22, 2009 Novartis posts 1 percent increase in 3Q net profit, says charges prevented better result GENEVA (AP) -- Drug maker Novartis AG posted a 1 percent increase in third-quarter net profit driven by strong sales from its pharmaceuticals division. The profit of $2.1 billion was up from $2 billion in the same period of 2008. But the company's operating income was largely offset by charges for associated companies, including a research and development project impairment related to eye care company Alcon, Novartis said. Increased financing costs and a higher tax rate also prevented a better result, it added. Net sales were $11.1 billion, up 3 percent from $10.7 billion in the year-earlier quarter. Without the effect of the weak dollar in currency markets, net sales rose 7 percent in local currencies, the company said __________________________________________________ Do You Yahoo!? Tired of spam? Yahoo! Mail has the best spam protection around http://mail.yahoo.com
