Novartis third-quarter core net income grows to $3.47 billion

The logo of Swiss drugmaker Novartis is pictured at the French company's headquarters in Rueil-Malmaison near Paris, France

On Tuesday, Swiss drugmaker Novartis NOVN.S confirmed that third-quarter core net income was 2.7 billion pounds ($3.47 billion), up from $3.21 billion a year ago.

Analysts polled by Refinitiv had, on average, projected $3.2 billion.

For 2020, the Basel-based company broadened its core operating income growth forecast to low double-digit to mid-teen percentage rate growth, from a short double-digit range previously, while net sales are expected to grow in the mid-single-digit percentage range.

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