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Swiss pharmaceutical giant Novartis has registered a net profit of $2.11 billion in the Q3 which ended on Sep 30, which is 1% more than the net profit registered during the corresponding period last year.
Net sales for Q3 stood at $11 billion, up 3% over the same period last year, pushing sales in the first nine months of the year to 31.34 billion.
In the year to date, net income hit $6.1 billion, which was down 8 percent over last year, with Novartis saying currency movements and one-off charges were the cause.
Novartis is one of the major pharmaceutical companies to have created a vaccine for the A (H1N1) pandemic, from which it expects boosts to sales for the rest of the year.
"Group net sales are now set to grow at a high-single-digit rate in local currencies, even excluding anticipated H1N1 pandemic flu vaccines sales in the fourth quarter of 2009," the drug maker said.
