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Novartis Q4 Net Profit Down, Operating Income Climbs; Sees Growth In FY20

Swiss drug major Novartis AG (NVS) reported Wednesday that its fourth-quarter net income declined 7 percent to $1.13 billion from last year's $1.22 billion. Earnings per share were $0.50, 6 percent lower than $0.53 in the prior year.

Core net income was $2.99 billion, compared to $2.68 billion a year ago. Core earnings per share were $1.32, compared to $1.16 a year ago.

Operating income climbed 34 percent to $1.82 billion.

Net sales grew 8 percent to $12.40 billion from last year's $11.48 billion. Sales grew 9 percent in constant currency.

Looking ahead, for fiscal 2020, the company expects net sales to grow mid to high-single digit and core operating income to grow high-single to low double digit, both in constant currency.

The outlook excludes Alcon and the Sandoz US oral solids and dermatology business from both 2019 and 2020.

Further, the company announced a dividend of 2.95 Swiss francs per share for 2019, an increase of 4 percent.

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