NVS - Novartis Stock Gains On European Drugmaker's Q1 Earnings Surprise Lifts Annual Outlook | Benzinga
Shares of Swiss pharma giant Novartis AG (NYSE:NVS) after the company raised its full-year guidance following better-than-expected first-quarter results.
Novartis reported first-quarter adjusted EPS of $1.80, up 17% year over year (23% on constant currency), beating the consensus of $1.67.
The company’s sales reached $11.83 billion, up 10% year over year and 11% on constant currency, beating the consensus of $11.43 billion.
Volume contributed 14 percentage points to growth. Generic competition had a negative impact of 2 percentage points, and pricing had a negative impact of 1 percentage point.
“Our performance was broad-based across all key growth brands and geographies, allowing ...