April 19, 2018 / 5:18 AM / a month ago

Novartis Q1 sales beat gets help from weak dollar

ZURICH, April 19 (Reuters) - Swiss drugmaker Novartis posted a 10 percent rise in first-quarter sales, more than analysts expected, as new Chief Executive Officer Vas Narasimhan got a boost from a weaker U.S. dollar and rising revenue from new medicines.

Core net income was $2.98 billion, the Basel-based company said in a statement on Thursday, equalling the average analyst forecast in a Reuters poll. Sales rose to $12.7 billion, compared to analyst forecasts that averaged $12.3 billion.

In constant currencies, sales rose 4 percent, Novartis said. (Reporting by John Miller, editing by John Revill)

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