Novartis reports earnings

Novartis (NVS; SWX:NOVN) reported second quarter earnings per ADS of $0.63, up 19% from $0.53 in the same period last year. The two analysts who cover the company and report to First Call were expecting earnings per ADS of $0.56 and $0.62. Quarter over quarter pharmaceutical sales increased 15% (11% using local currencies) to $4.6 billion from $4 billion. NVS said it expects to have high single-digit to low double-digit pharmaceutical sales growth for the full year.

Global sales of Gleevec/ Glivec imatinib to treat chronic myeloid leukemia and gastrointestinal stromal tumors (GIST) increased 43% to $406 million. Sales of Zelmac/ Zelnorm for irritable bowel syndrome (IBS) were up 100% to $76 million. ...