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Novartis earnings edge higher on Cosentyx, Entresto

(Reuters) – Core operating income at Novartis edged 3% higher in the first quarter as sales growth from new drugs was partly offset by unfavourable currency effects.

Quarterly core operating income rose to $4.08 billion, up from $3.96 billion a year earlier, the Swiss drugmaker said on Tuesday.

Quarterly revenues from arthritis and psoriasis drug Cosentyx gained 12% in constant currencies to $1.16 billion, slightly below-above analysts’ average forecast of $1.19 billion, based on Refinitiv data.

Revenues from heart failure treatment Entresto jumped 42% to $1.1 billion, surpassing the market consensus of $1 billion.

($1 = 0.9207 Swiss francs)

Source : Reuters

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