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Novartis Blockbuster Drug Rebounds, Easing Generics Pressure

James Paton
Novartis Blockbuster Drug Rebounds, Easing Generics Pressure

Novartis AG saw sales of one of its key drugs rebound last quarter, helping counter the impact of cheaper copycats on older products. Cosentyx’s sales increased 40 percent to $701 million in the second quarter, the Basel, Switzerland-based company said, exceeding analysts’ forecasts. Profit beat estimates in the period, allowing Novartis to reiterate its full-year forecast.