U.S. sales help Novartis consumer segment
This article was originally published in The Tan Sheet
Executive Summary
OTC sales growth helps drive Novartis' Consumer Health revenues up 7 percent to $1.5 billion in the firm's fiscal 2010 second quarter. The Asia-Pacific/Africa region and the U.S. led consumer sales growth at 13 percent and 11 percent, respectively, according to the Swiss firm's July 15 earnings release. Novartis said pain relief medicines, particularly Excedrin in the U.S. and Voltaren in Europe, were key contributors to OTC sales growth, but a "weak" cough and cold season in the January-March period slightly offset growth in that area. The firm added that advertising and promotions continue to expand U.S. market share for Prevacid 24HR, the OTC proton pump inhibitor it launched in late 2009 (1"The Tan Sheet" April 26, 2010, In Brief). Novartis, which was the first major pharmaceutical firm to report second-quarter results in an unusually volatile global economic environment, said overall sales rose 12 percent to $11.7 billion, and net income increased 18 percent to $2.4 billion