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Novartis hit by patent expiries, eyecare struggles

Swiss drugmaker Novartis said first-quarter core net income fell 13 percent as it continues to suffer from patent expiries, a struggling eyecare business and lackluster sales of its new heart medicine.


Core net income, which excludes some items, fell to $2.79 billion, compared to the $2.76 billion average of forecasts from analysts polled by Reuters. Sales fell to $11.6 billion, compared to the poll average of $11.8 billion.