Swiss pharmaceutical company Novartis missed market expectations with its full-year results on Wednesday but announced a rise in its dividend.
Net income for the Basel-based multinational came in at $2.06 billion, against estimates of $2.4 billion in a Dow Jones poll. Sales also missed predictions with a figure of $15.078 billion against $15.092 billion. Core earnings per share came in at $1.20 versus $1.28 in a Reuters poll.
(Read More: Novartis lifts guidance for second quarter in row)
Novartis states that the results showed "strong sales and innovation" through the whole of last year adding that its underlying business performance reinforces its growth prospects. Joseph Jimenez, CEO of Novartis, said the firm had still managed to deliver growth in both net sales and core operating income.
"We maintained good momentum in innovation," he said in a press release on Wednesday. "Our growth products continued to expand, rejuvenating our portfolio and reinforcing our growth prospects."
Shares were 0.7 percent higher in morning trade on Wednesday.