Swiss struggles with falling ticket prices and rising costs

Novartis continues to grow in the third quarter and raises its annual forecast

Swiss struggling

Swiss is struggling with falling ticket prices and rising costs. The airline reported a loss of CHF 142 million ($146 million) in the first half of 2022, compared to a profit of CHF 52 million in the same period last year.

The decline in profitability was due to a number of factors, including a decrease in ticket prices, an increase in fuel costs, and a rise in labor costs.

To address these challenges, Swiss is taking a number of steps, including reducing its capacity, cutting costs, and increasing its focus on premium passengers.

Novartis continues to grow

Novartis reported a 9% increase in sales to $12.8 billion in the third quarter of 2022, driven by strong demand for its new drugs. The company also raised its annual sales forecast to $52-53 billion, from $51-52 billion previously.

Novartis' growth was led by its pharmaceuticals business, which grew 10% to $9.5 billion. The company's oncology, neuroscience, and immunology businesses all performed well, with sales increasing by 15%, 12%, and 10%, respectively.

The company's generics business, Sandoz, also performed well, with sales increasing by 5% to $3.3 billion. Sandoz benefited from strong demand for its biosimilars, which are cheaper copies of biologic drugs such as Humira and Enbrel.