Catalyst Oncology

Novartis AG (Novartis) reported marginal decline in total revenues in 2Q 09, in-line with our estimates. EBITDA level performance was in-line with our expectation, while EBIT level performance marginally exceeded our expectations in 2Q 09. Although we maintain our positive growth outlook for the cardiovascular and oncology portfolio of products, and the company’s Research and Development (R&D) pipeline, we are likely to further revise downwards our estimates for Diovan and Glivec, going forw

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Novartis AG (NYSE:NVS) – Revenues in-line with our expectations in 2Q 09.