Novartis Confirms 2018 Targets as Alcon Recovery Gains Steam
04/19/2018
Swiss drugmaker Novartis’ first quarterly results under new CEO Vas Narasimhan have been marred by a prized psoriasis treatment that disappointed and a sharp slump in sales by its U.S. generics unit, according to a report in Reuters.
The stock declined 2.2 percent at 1200 GMT, more than double the fall of the broader European Healthcare index after the company released first-quarter earnings.
While Narasimhan confirmed 2018 growth targets, his Cosentyx drug for psoriasis and arthritis missed analyst expectations with revenue plunging from the fourth quarter.