Novartis delivered strong H1 performance. FY 2020 guidance confirmed at higher end for core operating income and lower end for sales.

  • Due to COVID-19 first half results are more representative of underlying performance than Q2, sales growth of 6%  (cc1, +3% USD) and core¹ operating income growth of 19% (cc, +14% USD):
    • Innovative Medicines grew sales 7% (cc, +5% USD) and core operating income 16% (cc, +11% USD)
    • Sandoz grew sales 1% (cc, -2% USD) and core operating income 26% (cc, +19% USD)
  • Net sales in Q2 from continuing operations2 declined 1% (cc, -4% USD) largely reversing forward purchasing from Q1:
    • Key …
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