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Novartis (NVS): Q1 net profit -16.6% to $2.31B vs. consensus of $2.16B; revenue stagnated as new...

Novartis (NVS): Q1 net profit -16.6% to $2.31B vs. consensus of $2.16B; revenue stagnated as new products were unable to fully compensate for weaker sales of blockbuster Diovan. CEO Joe Jimenez warns Diovan will take an even bigger hit in Q3 when its U.S. patent expires. Shares -1.1% premarket.
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