UPDATE: Novartis Posts Rise In Q1 Profit

Novartis AG

reported a gain in its first-quarter net profit. Novartis posted its quarterly net profit of $2.94 billion, versus analysts' estimates of $3.05 billion. Its sales climbed 1% to $14.02 billion, missing estimates of $14.22 billion. Novartis shares fell 1.31% to $85.43 in pre-market trading.