Thursday, October 18, 2018

Novartis Q3 Profit Weak, Lifts FY18 Sales View, To Buy Endocyte; Stock Up

Shares of Novartis AG were gaining around 2 percent in the morning trading in Switzerland after the drug major on Thursday lifted its fiscal 2018 net sales guidance, despite weak profit in its third quarter. Core earnings topped analysts' estimates, while net sales missed their view, despite a growth. Further, Novartis announced an agreement to buy Endocyte, a US-based biopharmaceutical company.

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