Corporate Results of over 2500 companies Friday, October 22, 1999
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Think Tank
This week we focus on a complete analysis of the
pharma industry
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Novartis 9-month sales rise 2% 

Dow Jones Newswires  
Basel, Switzerland, Oct 21: Novartis AG said Thursday that sales of continuing businesses rose 2% to 24.19 billion Swiss francs ($16.37 billion or 15.19 billion euros) in the first nine months of the year, coming in at the high-end of analysts forecasts.

Novartis restated last year's figures due to divestments in the consumer health division earlier this year. Restated 1998 sales were 23.76 billion francs for the nine-month period, down 833 million francs from the nine-month 1998 figure of 24.59 billion francs originally reported.

Sales at the company's flagship drugs unit rose 4% to 11.47 billion francs, slightly higher than analysts had forecast. Expressed in local currencies, drug sales rose 2%.

The whole health-care division saw sales rise 5% to 13.99 billion francs. Agricultural sales fell 7% to 6.34 billion francs and the consumer health division's sales increased 7% to 3.59 billion francs. Novartis said for the full year it expects an increase in operating and net profit from last year's 6.1 billion francs and 8.74 billion francs, respectively.

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