Novartis AG Unit Profiting From Johnson & Johnson Recalls: CFO

Novartis AG (NOVN)’s Chief Financial Officer Jon Symonds said the company’s consumer drug unit is profiting from Johnson & Johnson (JNJ)’s product recalls, Reuters reported, citing comments to the news agency’s health summit in New York.

The company hopes to hold on to a portion of the increased sales, Symonds said yesterday, according to Reuters. The CFO also said Novartis is interested in acquiring other consumer brands, the news agency reported.

To contact the reporter on this story: Eva Von Schaper in Munich Bureau at evonschaper@bloomberg.net

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