UPDATE: Novartis Reports 12% Rise In Q2 Net Profit

Novartis AG NVS reported a 12% surge in its second-quarter net profit. The company's net profit increased to $2.73 billion, from $2.44 billion in the year-earlier period. Novartis' core net profit, excluding exceptional one-off costs, surged to $3.56 billion from $2.77 billion. Group sales climbed 27% y/y to $14.92 billion from $11.72 billion. NVS shares dropped 0.32% to $60.63 in after-hours trading.