Scientific punting

20 October 2003 By Robert Cyran Follow @rob_cyran

The Swiss group is that latest drugmaker to decide that its product pipeline needs to be fatter and so is pouring cash into research. An industrywide trend is emerging whereby R&D budgets rise faster than profits.

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Novartis reported third quarter income of $1.3bn, a rise of 7% from the $1.2bn it earned last year. Sales for the Swiss pharmaceutical company rose from $5.4bn to $6.2bn in the same period.

Sales rose faster than income largely due to an increase in research and development. Expenditures on R & D in the third quarter rose to $878m from $730m during the same period last year. The company expects the amount spent on research will increase faster than sales at least for one more year as it continues a massive expansion in its USbased research activities.

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