Novartis Earnings Miss Forecasts
Swiss drug maker Novartis AG reported a 2% rise in fourth-quarter net income Wednesday that missed expectations as growing sales of its newest products failed to offset a slowdown in an older but still important drug. Net income rose to $2.06 billion from $2.02 billion a year earlier, but missed analyst forecasts of $2.4 billion. Basel-based Novartis forecast sales would grow in the low to mid-single digits.
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