Novartis (NYSE:NVS) provided its Q2 earnings report this morning and although revenue fell slightly from $14.92B last year to $14.3B, net profits mirrored last year’s at $2.73B. Even with patent loss on Diovan – which provided NVS’ highest individual product revenue last year – the company was able to gain on Alcon sales and new product launches. Novartis’ breast cancer treatment Afinitor was recommended for EMA approval in June, which, says the company, may become their next billion dollar drug. The EMA also recently approved Signifor for Cushing’s disease, the first treatment of its kind in the EU. NVS cited significant expansion in the Emerging Growth Markets as a driver last quarter, up 6% (the pharma industry saw 5% growth) and generating 24% of total revenue for the company.
Novartis says it is still on track to reach last year’s earnings, maintaining its 2012 outlook. NVS is up this morning about 1% on the outlook news. Novartis has a robust pipeline and expects to file for approval of seven compounds in 2013.
