Novartis posts strong Q2, CV unit comes up big

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon

Novartis Pharmaceuticals has released its financial results for 2010 second quarter, which ended June 30, recording an increase in net sales and net income.

Overall, the net income rose 16 percent to $2.77 billion, according to the Basel, Switzerland-based company. Net sales rose 11 percent to $11.7 billion with currency movements depressing the result by 1 percentage point.

For its cardiovascular and metabolism unit, Novartis reported its total sales of $2.32 billion—a 2 percent increase. Specifically, single-pill combinations based on valsartan (Diovan) and aliskiren (Tekturna/Rasilez) served to add to this bottom line.

Diovan recorded $1.55 billion, a one percent sales increase in the second quarter 2010 versus last year, the company said. In the U.S., Diovan achieved sales of $657 million, representing a flat quarter year over year. Diovan, which is in the ARB class of drugs, is FDA-approved to treat three major cardiovascular indications: high blood pressure, high-risk heart attack and heart failure. In April, Diovan gained approval of a new indication from the European Commission for the treatment of children and adolescents (ages six to 18) with high blood pressure.

Exforge, which recorded $227 million in the 2010 second quarter, representing 37 percent increase compared with the 2009 second quarter, was fueled by continued geographic expansion and the launch of Exforge HCT , which adds a diuretic in a single pill, in the U.S. and Europe.

Tekturna/Rasilez recorded $103 million in the 2010 second quarter, a 56 percent increase compared with the 2009 second quarter. The company said its increase was driven by single-pill combinations Tekturna/Rasilez HCT and Valturna in the U.S.

Novartis said Galvus/Eucreas (oral treatments for type 2 diabetes), recorded $90 million, representing a 136 percent increase, driven by international markets, including Spain, Greece, Germany, Portugal, France, South Korea and India. Galvus was launched in Japan in April under the brand name Equa .