ZURICH (Reuters) - Swiss drugmaker Novartis (VX:NOVN) on Thursday maintained its 2015 guidance as it posted first-quarter core net income that beat expectations.
The group reported a 7 percent year-on-year fall in first-quarter net sales in continuing operations to $11.9 billion (7.91 billion pounds), while sales rose 3 percent at constant currencies. Total group net sales were $12.5 billion.
Novartis generated net income in continuing operations of $3.2 billion, down 4 percent in dollar terms on the same period last year but up 8 percent at constant currencies. Total group net income was $3.1 billion.
Analysts in a Reuters poll had forecast total group net sales of $12.6 billion and group core net income of $2.9 billion.
"We are on track to deliver our full-year guidance," Chief Executive Joseph Jimenez said in a statement.