We may be in depths of a global recession, but the makers of the swine flu vaccines wouldn’t know it. Novartis made most of the swine flu vaccine doses distributed in the U.S. All out of the goodness of their heart, mind you.
GENEVA (AP) — Swiss drug maker Novartis AG on Tuesday reported a 54 percent rise in fourth-quarter net profit to $2.32 billion on strong sales and favorable exchange rates, and announced the appointment of Joe Jimenez as its new chief executive.
Earnings per share rose 53 percent to $1.01 from $0.66 in the same quarter of 2008, when Novartis posted a net profit of $1.51 billion.
Results met analysts’ expectations and Novartis shares rose 2 percent to 56.80 Swiss francs ($54.21) on the Zurich exchange.
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