- Novartis (NVS) Q2 results:
- Revenues: $11,347M (-3.5%); Innovative Medicines: $9,188M (-1.5%); Sandoz: $2,159M (-11.4%).
- The sales declined due to COVID-19 impacts, mainly from the reversal of Q1 forward purchasing and lower retail demand.
- Net Income: $1,867M (-11.5%); EPS: $0.82 (-9.9%); non-GAAP Net Income: $3,108M (+0.4%); non-GAAP EPS: $1.36 (+1.5%).
- CF Ops: $3,961M (+27.3%).
- Top sellers: Cosentyx: $944M (+10%); Gilenya: $738M (-11%); Entresto: $580M (+38%); Tasigna: $480M (+3%); Lucentis: $401M (-25%); Promacta/Revolade: $422M (+21%); Tafinlar + Mekinist: $371M (+9%); Sandostatin: $341M (-15%); Jakavi: $310M (+9%); Gleevec/Glivec: $288M (-11%); Xolair: $289M (unch); Afinitor/Votubia: $266M (-34%); Ilaris: $200M (+21%); Exjade/Jadenu: $163M (-36%); Zolgensma: $205M; Kisqali: $159M (+43%); Votrient: $162M (-16%).
- 2020 Guidance: Net sales growth: mid- to high-single digit (unch); Innovative Medicines: grow mid single digit from mid to high-single digit; Sandoz: grow low-single digit (unch); Core operating income: to grow low double digit from high single to low double digit.
- Key Innovation Milestones: Cosentyx approved in EU and US for treatment of active nr-axSpA.
- Zolgensma IV conditionally approved in EU for SMA children up to 21kg
- Entresto, Tabrecta, Mayzent, Enerzair and Atectura simultaneously approved in Japan.
- The company resolved legacy legal matters, including the settlements related to FCPA and US speaker programs.
- Previously: Novartis EPS beats by $0.03, misses on revenue (July 21)