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The Swiss pharmaceutical company Novartis has overcome the world crisis caused by the coronavirus pandemic.
Novartis CEO Vasant Narasimhan has requested significant clinical data for the drugs used to treat coronavirus disease. Few tests have so far met the standards. Properly conducted clinical trials are needed to really determine the benefits of the drugs, Narasimhan said Tuesday. The Swiss pharmaceutical company itself started a clinical study with the drug hydroxychloroquine. The decades-old drug is considered a beacon of hope for the treatment of Covid-19. There is currently no therapy for lung disease. Narasimhan said he felt the first results of the study might be available in the summer.
The Basel pharmaceutical maker confirmed its annual forecast on Tuesday after an increase in sales and profits in the first quarter. Business and demand remain very stable and strong, the company said. Supply chains are minimally affected by the crisis and the need for inventory purchases can be met. Interruptions in clinical trials are manageable and those with ongoing approval requests are minimal.
Recorded in the period from January to March Novartis Revenue of $ 12.28 billion, excluding currency effects, an increase of 13 percent year-over-year. Adjusted for specialty items, operating profit increased 34 percent to $ 4.18 billion. The bottom line was $ 2.17 billion, 24 percent more profit than a year ago.
(Reuters)
