Source Pravda.Ru

Novartis predicts good 2008 in spite of 4Q difficulties

By Alex Steblinina. Restructuring charges and the impact of generic competition led to sharp fall in 4-quarter profits of Novartis.

The Swiss drugmaker said that despite current difficulties it would restore growth in the second half of the year.

Novartis predicts another year of record net sales and earnings.

Operating profits decreased in the fourth quarter to $1.23 billion on a rise in sales to $6.15 billion. A 307 million dollars restructuring charge had worsened the situation – for it took operating profits down 43 per cent to $925 million.

Novartis International AG is a multinational pharmaceutical company based in Basel, Switzerland that manufactures drugs such as diclofenac (Voltaren), carbamazepine (Tegretol), valsartan (Diovan), imatinib mesylate (Gleevec), cyclosporin A (Neoral / Sandimmun), letrozole (Femara), methylphenidate hydrochloride (Ritalin), terbinafine (Lamisil), etc. Novartis owns Sandoz, a large manufacturer of generic drugs. The company formerly owned the Gerber Products Company, a major infant and baby products producer, but announced in April 2007 it was selling Gerber to Nestlé. Legal responsibility for Gerber was transferred from Novartis to Nestlé on 1 September 2007.

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

The World Cup that is about to finish in Russia has shown that the Western propaganda machine has failed to create the image of Russia as a monster with "many tentacles." By and large, the Russians and the Ukrainians are close to each other

Putin-Trump meeting to decide the future of Ukraine