UPDATE 1-Novartis hikes 2019 outlook as gene therapy, skin drugs shine [Reuters]
JULIUS BAER GRP UNSP/ADR (JBAXY)
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Source: Reuters
Novartis hikes 2019 outlook as gene therapy, skin drugs shine - Reuters 2 Min Read ZURICH (Reuters) - Novartis ( NOVN.S ) on Tuesday boosted its full-year targets, as sales of medicines including psoriasis drug Cosentyx and gene therapy Zolgensma helped the Swiss drugmaker surpass analysts’ third-quarter expectations. Sales are now seen growing at a high single-digit percentage rate at constant currencies, from the mid-to-high single digit rate forecast from July. Core operating income is now seen growing at a mid- to high-teen rate, up from low double-digit to mid-teen percentages. Third-quarter core net income rose 17% to $3.2 billion. Sales were $12.2 billion, well beyond the $11.7 billion average in a Refinitiv poll. The shares were seen rising more than 2%, according to pre-market indicators provided by Bank Julius Baer. JBPRE01 Chief Executive Vas Narasimhan has now raised targets for the third time this year, matching cross-town rival Roche’s ( ROG.S ) guidance moves, amid
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