Net profit at drugmaker Novartis rose 13 per cent in the third quarter to $1.67 billion as strong sales growth and the effect of acquisitions offset one-off costs.
Novartis said today group sales rose 18 per cent in local currency terms to $8.42 billion, compared with an average forecast of $8.29 billion, thanks to a surge in sales from generics unit Sandoz and two recent acquisitions.
Pharmaceuticals sales increased 9 per cent to $5.09 billion, compared with an average forecast of $5.15 billion, driven by increased sales of cardiovascular and cancer treatments.
The world's sixth-biggest drugmaker repeated its guidance for full-year group and drug sales growth in high single-digits in local currencies and for record operating and net profit - excluding the impact of recent acquisitions.
Analysts said the numbers showed that recent focus on controlling costs within the drug industry was starting to show benefits as underlying profitability at Novartis' drugs unit improved.
Shares in Novartis were indicated 1.5 per cent higher in premarket trading, according to data supplied by Bank Leu.