NOVARTIS POSTS 23 PERCENT PROFIT INCREASE FOR FOURTH QUARTER

Novartis' fourth quarter net profit for 2006 rose 23 percent with strong showings from hypertension drug Diovan and leukemia drug Gleevec, the company announced.

The company estimated sales of $10 billion for the quarter ending Dec. 31, 2006, Novartis said Jan. 18. Sales increased 16 percent from the same quarter in 2005, the company added.

Diovan and Gleevec were the top sellers in 2006, with Diovan sales topping $4 billion for the year and Gleevec surpassing $2.5 billion, Novartis said. New products like asthma drug Xolair and blood disorder treatment Exjade also contributed to the sales increase.

Novartis' generic division, Sandoz, saw a 71 percent increase in operating income in the fourth quarter, with a 5 percent increase in sales. Its vaccine division, created after Novartis acquired Chiron in April 2006, had increased net sales of 71 percent compared with Chiron's performance in the fourth quarter of 2005.