ZURICH, Jan 29 (AFP): Swiss pharmaceuticals giant Novartis on Wednesday announced that its net profit fell 1.0 per cent in 2013 to $9.2 billion (6.8 billion euros), blaming the impact of unfavourable exchange rates.
Without taking into account rate fluctuations-notably the fall of the Japanese yen and emerging markets' currencies against the dollar-the group said that profit rose by 7.0 per cent last year.
"Novartis delivered strong performance in 2013, growing both net sales and core operating income in constant currencies while absorbing patent expirations," chief executive Joseph Jimenez said in a statement.
"We maintained good momentum in innovation," he underlined, noting that 18 new Novartis drugs had won approval from regulators and that the US Federal Drug Administration had granted three products "breakthrough therapy" status.
"Our growth products continued to expand, rejuvenating our portfolio and reinforcing our growth prospects," Jimenez said.
Novartis reports profits dip 1.0pc in 2013
FE Team | Published: January 30, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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