Pharmaceutical Novartis has increased its profit forecast for the third time this year. The revenue forecast was also tightened. The Swiss group claims to benefit from its experimental gene therapy against a rare muscle disease.

That medicine, Zolgensma, made its debut last quarter and is the most expensive medicine in the world. It has a price tag of $ 2.1 million. The sales of Zolgensma exceeded the average expectations of analysts. Last summer there was still a lot to do around the waist, when it turned out that Novartis was potentially cheating with test data. But the safety and effectiveness of the remedy for rare muscle disease is not in doubt.

Furthermore, the Piqray drug, against breast cancer, also performed well in the past three months. Novartis now expects to increase its operating profit by 14 percent to 19 percent this year. Previously, an increase of up to 15 percent was assumed. The turnover must now increase by between 7 and 9 percent.

The operating profit of Novartis in the third quarter was nearly $ 3.8 billion and revenues $ 12.2 billion.

Load More Related Articles
Load More By WeeklyNews staff
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Dutch youth found to be more conservative than Gen-X

People in their twenties and thirties in the Netherlands think more conservatively about i…