BASEL, Switzerland, Jan. 23, 2003 (PRIMEZONE) -- Novartis (NYSE:NVS):
-- Group sales up 11% in local currencies (2% in CHF) thanks to strong
volume growth in Pharmaceuticals and Generics
-- Pharmaceuticals consistently outperforms industry average in all
major markets throughout 2002, delivering sales growth of 13% in
local currencies (4% in CHF), driven by the cardiovascular and
oncology franchises
-- Dynamic growth in Generics (+25% in local currencies) produced by
geographic expansion and successful launches
-- Group operating income climbs 8% on the back of strong top-line growth
and enhanced productivity
-- Net income up 4% due to strong operating performance and a very
satisfactory level of financial income amid adverse market conditions
-- Earnings per share rise 7% based on higher income and a reduction in
the number of shares (share repurchase program)
-- Free cash flow after dividend payment up 10%
-- Switch to reporting in U.S. dollars anticipated in the first quarter
of 2003
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