MOSCOW (Pakistan Point News / Sputnik - 01st February, 2023) Swiss pharma giant Novartis said on Wednesday that its net profit totaled about $7 billion in 2022, decreasing by three an a half times year-on-year.
Diluted earnings amounted to $3.2 per share in 2022, which is 70% lower than in 2021, when they stood at $10.71 per share.
Novartis' net profit over the fourth quarter of the past year totaled $1,47 billion, an 11-fold decrease compared to the net profit over the same period in 2021.
At the same time, the company expects a sales growth of up to 6% this year and an increase in core operating profit from 4% to 6%.
Novartis is a Switzerland-based global healthcare company established in 1996 and considered as one of the leading pharmaceutical firms in Europe with over 105,000 employees.
