July 18, 2019 / 5:22 AM / 5 months ago

Novartis raises 2019 guidance, helped by Sandoz generics unit

ZURICH, July 18 (Reuters) - Novartis lifted full-year sales and profit targets on Thursday, helped by innovative medicine sales and as the Swiss drugmaker’s slimmed-down Sandoz generics unit saw accelerating revenue in markets outside the United States.

Core operating income rose 20% in constant currencies to $3.6 billion, while sales were up 8% to $11.8 billion, compared to the $11.54 billion forecast by 10 analysts in a Refinitiv poll.

The Basel-based company now expects 2019 core operating income to grow at low-double-digit to mid-teens percentages, faster than the previous high-single-digit percentage rate target. Sales expectations were also raised, with growth now seen in the mid to high-single digit range.

Reporting by John Miller Editing by Thomas Seythal

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