Signage is displayed on the exterior of the Novartis AG Institutes for BioMedical Research building in Cambridge, Massachusetts, U.S., on Friday, Aug. 5, 2016.
Swiss drugmaker Novartis on Tuesday raised its full-year guidance after reporting better-than-expected first-quarter results.
In a statement, it said 2024 net sales would likely grow by a high-single to low double-digit percentage with adjusted operating income expected to grow by a low double-digit to mid-teens percentage.
It has previously predicted that adjusted operating income would increase by a "high single-digit" percentage with "mid single-digit" sales growth.
Quarterly adjusted operating income gained 16% to $4.54 billion, beating an average analyst estimate of about $4.3 billion.
Persons:
Bristol Myers, Giovanni Caforio, Joerg Reinhardt, Vas Narasimhan, Sandoz
Organizations:
Novartis, Institutes, Research, Bristol, Bristol Myers Squibb
Locations:
Cambridge , Massachusetts, U.S