PHARMACEUTICALS group Novartis reported increased sales and income for 2010 today.
The Swiss-based operation which employs about 700 staff making conventional flu and swine flu vaccines at its Speke site said net sales grew by 14% to £31.8bn, and operating income rose 15% to £7.24bn.
Sales were boosted by £629m from its H1N1 swine flu vaccine, but failure to match the same levels in the fourth quarter of the current financial year from H1N1 sales contributed to a 74% fall in net sales of £227m for the vaccines division in the three month period and an operating loss of £159m compared with a £366m operating profit in the same quarter a year ago.
However, over the full year, vaccines still managed a 25% increase in net sales of £1.83bn and an 87% rise in operating income of £384m.
Novartis chief executive Joseph Jimenez said today: “Novartis achieved excellent results in 2010 as all divisions contributed to above-market growth.”
