Novartis posts lower-than-expected profit

Novartis posted a 4 percent rise in profit to $1.71 billion for the second quarter, falling short of analysts' expectations. The company blames the cost of integrating vaccine maker Chiron for the lower-than-expected numbers. But due to strong pharmaceutical sales growth, the drug maker predicts double-digit full year growth. "Investors will likely be disappointed about earnings, but the fact that the core business performs well and even managed to improve in some areas should compensate for this," a Zuercher Kantonalbank analyst told Forbes.

- read this Forbes report

PLUS: Rumors that Novartis is eyeing AstraZeneca appear to be unfounded. Report