Switzerland-based pharmaceutical group Novartis has announced today its Q1 2018 results. These have not satisfied investors, indeed Novartis’ shares have lost almost 3% (Zurich). The group’s profits have increased by 22% ($2.03bn), especially thanks to products against cancer and cardiovascular diseases–including Entresto. Cosentyx (psoriasis) has yielded excellent performances, with sales rising by 41%. Indeed, currency–i.e. the dollar’s weakening–has had a positive impact on Novartis’ results, however this has not changed investors’ attitude.
On the occasion, Vas Narasimhan has confirmed the previously announced current year guidance and has announced that John Tsai, currently Chief Medical Officer, has been appointed Novartis CMO (Chief Medical Officer).