Novartis Q4 core operating income gains 9%

FRANKFURT: Novartis reported fourth-quarter core operating income gained 9% as higher drug sales offset in increase in marketing and development costs.

The Swiss pharma giant's quarterly core operating income came in at $3.8 billion, it said in a statement on Wednesday.

Shoring up group sales, revenues from arthritis and psoriasis drug Cosentyx gained 13% to $1.24 billion, slightly below average analyst expectations of $1.3 billion, based on Refinitiv data.

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Revenues from heart failure treatment Entresto jumped 34% to $949 million, broadly in line with the market consensus.

Novartis added it expected core operating income to grow in the mid-single-digit percentage range this year.