AMD drug boosts Novartis' sales

Pharmaceutical company Novartis has revealed an increase in net sales of 25 per cent, or 18 per cent at constant exchange rates, from the first quarter of 2009 to the first quarter of 2010 in its unaudited financial results.

Net income during the period increased 49 per cent, or 41 per cent at constant exchange rates, to $2.948bn.

In a results statement the company said the addition of Alcon would create new growth in 'the fast-growing eye care sector'.

Novartis announced in January plans to take full ownership of Alcon by the second half of 2010 (News 08.01.10). Following the merger Alcon will become a new division that incorporates CIBA Vision and certain Novartis ophthalmic medicines.