Novartis lifts profit outlook as hospitals cope better with COVID

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Novartis nudged up its operating profit guidance on Tuesday, as the Swiss drugmaker predicted healthcare systems would navigate a second COVID-19 wave better than the first and keep drug sales flowing.

FILE PHOTO: The logo of Swiss drugmaker Novartis is pictured at the French company's headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles Platiau/File Photo

Third-quarter core net income climbed 8% to $3.47 billion, above analysts’ average forecast of $3.32 billion in a Refinitiv poll. Sales rose 1% to $12.3 billion, missing the $12.7 billion forecast. “Healthcare systems have realized the impact the pandemic had ... broadly on non-communicable diseases and overall preventative measures and screening measures,” Narasimhan said. “There’s a strong desire not to repeat that.”

 

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In other words, Novartis employees will cont working while infected.

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More like, as Covid19 rates rise the drug companies salivate at the prospect of superprofits. Don't act like the Herd immunity strategy pursued by Europe and America isn't sponsored by Big Pharma. Vultures.

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