Novartis ag-chem profits slump
SWISS life sciences giant Novartis has blamed a slump in crop prices for a 33% decline to SF737 million in full-year profits for its agrochemicals arm.
Economic crises in Russia, the Ukraine and Brazil worsened the effect.
The Novartis agrochemical arm business is about to be combined with its AstraZeneca counterpart and spun off to create a new company called Syngenta.
At the group level, the company reported an 11% rise in annual profits to SF6.6bn (2.5bn).
- Novartis hopes for growth after ag spin-off, FWi, 17 February, 2000
- Financial Times 18/02/2000 page 26
- The Guardian 18/02/2000 page 26
- The Daily Telegraph 18/02/2000 page 35