Novartis reports strong first quarter profit

20th April 2010, Comments 0 comments

Swiss pharamaceutical giant Novartis on Tuesday reported a 49 percent jump in net profit for the first quarter on a 12-month comparison -- a result that was hailed by analysts.

Profits rose to 2.948 billion dollars (2.189 billion euros) compared to 1.975 billion dollars a year ago, with revenues boosted by sales of the swine flu vaccine delivered last year in response to a pandemic alert.

Analysts at Swiss bank Wegelin said the results were "excellent."

© 2010 AFP

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