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Swiss drugmaker Novartis forecast sales and profit to grow at a faster pace this year as recent drug successes and its portfolio overhaul help it weather the impact of generic competition.
The Basel-based firm on Tuesday guided for mid-single digit sales growth and for core operating income to increase at a high-single digit rate at constant exchange rates in 2015.
Excluding the impact of currency moves, net sales rose 4 per cent in the fourth quarter to $14.63 billion, compared to the average forecast for $14.6 billion in a Reuters poll. Core net income rose 9 per cent to $2.9 billion in line with forecasts.
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