Novartis is on track for record sales and earnings in 2008, with its Consumer Health operation, which includes CIBA Vision, showing an improved performance.
Sales in this division were up 13 per cent in the first half to $3bn, ‘with CIBA Vision showing the strongest gains based on recent launches of new contact lens products and the benefits of full supplies following shortages in 2007’.
Operating income showed double-digit growth at 17 per cent to $566m, with overall business expansion and productivity benefits across the division.
Second quarter net sales in Consumer Health were up 12 per cent to $1.5bn. Novartis added that operating income for the division was growing faster than sales, benefiting from the business expansion and productivity gains that supported investments in new products and expansion in key markets.
CIBA’s parent company added that there was dynamic growth in its Lucentis eye therapy for wet age-related macular degeneration and highlighted the positive endorsement in April from the National Institute for Health and Clinical Excellence.
Novartis said its 25 per cent stake in Alcon strengthened the portfolio and complemented internal growth drivers.