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13 1Refers to continuing operations as defined on page 43 of the Condensed Financial Report, excludes Alcon, includes the businesses of Innovative Medicines and Sandoz, as well as the continuing corporate functions. 2Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 55 of the Condensed Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.
3 Please see detailed guidance assumptions on page 8 including the forecast assumption that we see a continuation of the return to normal global healthcare systems including prescription dynamics by mid 2021. In addition, we assume that no Gilenyaand noSandostatinLAR generics enter in 2021 in the US.
Novartis International AG: Novartis delivered sales growth and margin expansion. Continued to progress its next wave of medicines in 2020.
Pharmaceuticals BU grew 5% (cc) driven by
Entresto (+44% cc),
Cosentyx (+13% cc),
Xiidra acquisition (+95% cc)
Promacta/Revolade (+23% cc),
Piqray (reaching USD 0.3 billion)
Sandoz sales were in line (cc, -1% USD), with Biopharmaceuticals growing 19% (cc)
COVID-19 negatively impacted demand, particularly: ophthalmology, dermatology and Sandoz retail
Core operating income² grew 13% (cc, +9% USD) and Innovative Medicines and Sandoz core margin improved to 35% and 24% of sales respectively, driven by sales growth, lower spend and productivity
Continued transformation of Manufacturing and Business Services contributing to core margin expansion
20 Dec 2020 - 9:33
The Peninsula
Doha: Ethics and governance play a key role in the accountancy profession, which also result in achieving a sustainable economic growth, Doha Bank CEO Dr. R. Seetharaman has said.
Speaking at the Institute of Chartered Accountants of India’s (ICAI) virtual International Conference which was held from December 17-19, Seetharaman said the COVID-19 crisis offers opportunity to rebuild the global economy towards a stronger recovery. But a green recovery is needed to emerge stronger from the economic impacts of the pandemic. And this means achieving the objectives under the Paris agreement and ensuring the achievement of the UN sustainable developments goals.