Novartis has announced that its net profit for the full year 2006 soared 17 percent to a record $7.2 billion (5.5 billion euros), in line with analysts' predictions.
Sales rose 15 percent to $37 billion and operating profit was up 18 percent at $8.17 billion, giving Novartis an operating margin of 22.1 percent, up from 21.4 percent the previous year.
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Novartis is a wonderul Co especially if one goes by their PR work. However if one goes by many stories seen on different blogs (Obstetrician's case from Australia, their supression of generics but their own and the list goes on and on) one can not helped it but doubt the decency of this big pharma Co. Yes it was a really nice one, or should we say two before the merger. Truly Swiss Co. with high ethical standards rooted in the Swiss tradition of being truly honest and simly decent. Not eny more. Even their own people, the Swiss can not believe the behavior of their own Co under the new name Novartis. Sadly their CEO and chairman although Swiss has completely abendoned the ways of his predecesors and completely MacDonaldised the new Co. Yes it is successful everyone is making money on the backs of sick and national health care systems all over the world, by their relentless promotion using nice and not so nice methods ( Generics and India case) of promotion. Doctors, those bought ones, love them for they too are big beneficieries. Some have built houses on the "honoraria" paid to them for veriuos "services" The trips and entertainment that the Australian doc brought to the surface, are just the tip of the iceberg. They are used just to make the whole experience with dealing with them, more "tolerable".
If their is such a thing as turning in one's grave, Mr. Sandoz the founder of one of the predecesors of Novartis, must be doing it at a very high speed and can not stop at all.
Do you agree with this view of big pharma? Yes or No.Please answer this simple question so we can see what most bloggers think about this hot issue.
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