Novartis (NVS) Tops Q3 EPS by 4c

October 25, 2016 8:44 AM EDT
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Novartis (NYSE: NVS) reported Q3 EPS of $1.23, $0.04 better than the analyst estimate of $1.19. Revenue for the quarter came in at $12.13 billion versus the consensus estimate of $12.24 billion.Novartis reaffirmed FY2016 guidance.

Strong pipeline progress with key data readouts, filings and regulatory decisions in Q3

  • LEE011 plus letrozole demonstrated superior PFS as first-line treatment of HR+/HER2-advanced breast cancer vs. letrozole alone; granted FDA Breakthrough Therapy designation
  • BAF312 in SPMS3 met primary endpoint, significantly reducing risk of disability progression
  • AMG 334 met primary endpoint in first Phase III episodic migraine study
  • Ilaris received three new FDA approvals for Periodic Fever Syndromes
  • Sandoz biosimilar etanercept, Erelzi, received FDA approval

Entresto (USD 53 million in Q3) grew steadily; FY sales guidance of ~USD 0.2 billion confirmed

Continuing to invest in Alcon growth plan

  • Contact lenses delivered another quarter of growth; Dailies Total1 Multifocal launches in US and EU expected to continue growth trajectory
  • Innovation continued to accelerate in Surgical with FDA approvals for CyPass, UltraSert Toric IOL

For earnings history and earnings-related data on Novartis (NVS) click here.

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