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Novartis says Q3 profit slipped 4 percent, hurt by Alcon

The Novartis headquarters in Basel, Switzerland.
Arnd Wiegmann | Reuters

Swiss drugmaker Novartis said on Tuesday third-quarter core net income fell 4 percent, as sales of cancer drug Gleevec continued to decline after patent expiration, and amid efforts to rejuvenate its slumping Alcon eye care division.

Core net income fell to $2.938 billion, the company said in a statement, compared with the average analyst forecast of $2.9 billion in a poll by Reuters.

Sales slipped 1 percent to $12.1 billion, compared to a forecast of $12.25 billion.

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