Novartis (NVS): Q2 adjusted earnings -2% to $3.23B vs consensus of $3.22B; EPS -4% to $1.30 vs...


Novartis (NVS): Q2 adjusted earnings -2% to $3.23B vs consensus of $3.22B; EPS -4% to $1.30 vs $1.34; net sales +1% to $14.49B vs $14.31B. Raises FY guidance due to Ranbaxy's failure to launch a generic version of Novartis' Diovan blood-pressure drug, and now expects core earnings to decline in the low single digits vs a mid-single digit drop previously forecast, and low single-digit sales growth vs flat previously. The impact of generic Diovan is expected in 2014. Hasn't been contact by China amid investigations in the healthcare sector. (PR)
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