Hello all,
Novartis released their earnings hours ago with an EPS of $1.29 and a street estimate of $1.11. Previous year's EPS was $.87 so a dramatic increase in revenues helped bolster earnings. The majority of the increase in earnings can be attributed to the sale of H1N1 vaccinations purchased by the U.S and Chinese governments. Recently appointed CEO Joe Jiminez is expecting consistent growth in the pharmaceutical department with the help of 2 recent acquisitions in the cancer drug division. Novartis is still planning on completing the full acquisition of Alcon (The world's leader in eye-care products). Currently, Novartis has 77% stake in the company and is planning on closing the deal soon. The 18% growth in revenue from last year is a strong sign of consistent growth for the future in addition to the corporate strategy of acquiring more firms to broaden their market penetration.
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