ZURICH, April 24 Two days after announcing a radical overhaul of its structure, Novartis posted first-quarter profit that beat expectations boosted by an exceptional gain from the sale of its blood transfusion test unit.
The Swiss company said first-quarter net profit jumped 24 percent to $2.968 billion, beating the mean estimate of $2.7 billion in a Reuters poll. Net sales inched up 1 percent to $14.022 billion, compared to the average estimate of $14.246 billion.
The drugmaker's first-quarter results come two days after it announced deals worth over $25 billion to simplify its structure, strengthen its cancer portfolio and exit underperforming businesses. (Reporting by Caroline Copley)