Novartis says Q2 net profit up 12% to $2.7B

Swiss drug maker Novartis says its net profit in the second quarter rose 12% to $2.73 billion. Novartis says it benefited from the weakness of the US dollar against other major currencies.

Swiss drug maker Novartis says its net profit in the second quarter rose 12% to $2.73 billion. Novartis says it benefited from the weakness of the US dollar against other major currencies.

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The Basel-based company also saw strong sales of newly launched products such as the oral multiple sclerosis medicine Gilenya.

Novartis earned $2.44 billion during the same period last year on sales of $11.72 billion.

The company said on Tuesday that sales in the April to June period increased by 19% to reach $14.92 billion.