Novartis Poised for Growth as CEO Hands Baton to U.S. Newcomer
Novartis expects to return to operating profit growth this year, with new Chief Executive Vas Narasimhan inheriting the Swiss drugmaker just as revenue from its latest medicines accelerates and the impact of expiring patents fades, according to a Reuters report.
The company said on Wednesday core operating profit would rise by a mid-to-high single-digit percentage this year, while sales would grow by a low-to-mid single-digit percentage.
That compares with a 1 percent decline in core operating profit last year on a 1 percent rise in sales.
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