Novartis 3Q Core EPS $1.37; Est. $1.32

Novartis has exceeded third-quarter earnings estimates with core earnings per share at $1.37, surpassing analysts' expectations of $1.32. The company maintains its full-year sales and profit forecasts, driven by strong sales of Gilenya for multiple sclerosis and Ticinius for leukemia, both up by 25%. However, top-selling drugs like Gleevec and Ivan face declining sales due to generic competition. Novartis is undergoing a transformation, having announced the acquisition of Glaxo's cancer unit for up to $16 billion and selling its vaccines business to a London-based company for $7.1 billion. Additionally, it is selling its animal health unit to Eli Lilly for $5.4 billion, with the Lilly deal closing in the first quarter of next year and the Glaxo transaction in the first half.

What impact is generic competition having on Novartis's top-selling drugs?

How much is Novartis selling its vaccines business for, and to which company?