Novartis preps investors for half billion hole in results

5th October 2010, Comments 0 comments

Swiss pharma company Novartis is set to wipe more than half a billion francs from its balance sheet as regulators prompt it to discontinue research on two drugs. Analysts reckon the charges will eat into the firms third quarter profits, but Novartis says it will make back two thirds of the loss by selling a 390 million dollar bladder control treatment to another company.

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