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Novartis AG (NOVN) raised its profit and sales forecasts as generic competition for the Diovan blood-pressure medicine failed to materialize in the U.S. Earnings will fall by a low-single-digit percentage this year, while sales will rise by similar amount, both excluding currency swings, the Basel, Switzerland-based company said in a statement today. Novartis previously forecast a mid-single-digit percentage decline in profit this year and had predicted sales would be in line with those of 2012.
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