Novartis 2Q Results -- Forecast

FRANKFURT--The following is a summary of analysts' forecasts for Novartis AG (NVS) second-quarter results, based on a poll of six analysts conducted by Dow Jones Newswires (figures in million dollars, EPS in dollar, DPS and target price in francs, according to IFRS). Earnings figures are scheduled to be released July 17.

=== 
            Net sales: 
 
2nd Quarter     -total  -Pharma  -Diovan  -Gleevec -Lucentis 
AVERAGE         14,764    8,191      789     1,137       600 
Prev. Year      14,488    8,121      928     1,190       576 
+/- in %          +1.9     +0.9      -15      -4.5      +4.1 
 
MEDIAN          14,797    8,204      780     1,152       599 
Maximum         14,872    8,239      813     1,197       611 
Minimum         14,622    8,117      761     1,047       588 
Amount (a)           6        5        5         4         5 
 
Deutsche Bank   14,872    8,239      810     1,197       588 
Helvea          14,789    8,187      761     1,160       605 
J.P. Morgan     14,808    8,208      779        --       611 
Morgan Stanley  14,687       --       --        --        -- 
Zuercher KB     14,622    8,117      780     1,047       599 
 
 
                             Core             Core       Net 
             Operating  Operating     Net      Net   attrib. 
2nd Quarter     income     income  income   income    profit 
AVERAGE          3,116      3,853   2,682    3,353     2,602 
Prev. Year       2,970      3,755   2,548    3,227     2,516 
+/- in %          +4.9       +2.6    +5.2     +3.9      +3.4 
 
MEDIAN           3,125      3,838   2,694    3,334     2,639 
Maximum          3,385      3,998   2,882    3,473     2,665 
Minimum          2,902      3,776   2,498    3,298     2,466 
Amount (a)           5          6       5        5         4 
 
Deutsche Bank    3,125      3,998   2,696    3,473     2,664 
Helvea           2,902      3,834   2,498    3,318     2,466 
J.P. Morgan      3,385      3,862   2,882    3,334        -- 
Morgan Stanley      --      3,776      --       --        -- 
Zuercher KB      3,019      3,809   2,638    3,298     2,614 
 
 
                                  Core 
2nd Quarter           EPS          EPS 
AVERAGE              1.09         1.36 
Prev. Year           1.03         1.30 
+/- in %             +5.6         +4.5 
 
MEDIAN               1.09         1.36 
Maximum              1.17         1.42 
Minimum              1.01         1.32 
Amount (a)              5            6 
 
Deutsche Bank        1.10         1.42 
Helvea               1.01         1.35 
J.P. Morgan          1.17         1.36 
Morgan Stanley         --         1.34 
Zuercher KB          1.07         1.32 
 
 
             Target price  Rating                  DPS 2014 
 
AVERAGE             84.17  positive 4     AVERAGE      2.55 
Prev. Quarter       76.25  neutral  1     Prev. Year   2.45 
+/- in %              +10  negative 1     +/- in %     +4.2 
 
MEDIAN              81.50                 MEDIAN       2.56 
Maximum             92.00                 Maximum      2.60 
Minimum             79.00                 Minimum      2.50 
Amount                  3                 Amount          3 
 
Bryan Garnier       81.50  Buy                           -- 
Deutsche Bank       79.00  Hold                        2.60 
Helvea              92.00  Buy                         2.56 
J.P. Morgan            --  Overweight                    -- 
Morgan Stanley         --  Underweight                   -- 
Zuercher KB            --  Overweight                  2.50 
=== 

Year-earlier figures are as reported by the company.

(a) Including anonymous estimates from one more analyst.

DJG/voi 

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