Novartis NOVN 0.79%increase; green up pointing triangle reported a drop in earnings as generic competition for its top-selling heart drug Entresto hit sales in the first months of the year.
The drug made up around 14% of total group sales last year but has faced pressure as generic versions of the drug hit the market after the expiry of its U.S. patent. Sales of the drug fell 42% in the first quarter to $1.31 billion, ahead of further patent expirations in Europe later this year.
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