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Sale of blood transfusion test unit boosts Novartis Q1 profit
April 24, 2014 / 5:20 AM / 3 years ago

Sale of blood transfusion test unit boosts Novartis Q1 profit

ZURICH, April 24 (Reuters) - 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)

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