Novartis profits soar to €11.9m

PRE-TAX profits at an Irish subsidiary of pharmaceutical giant Novartis last year increased by 41% to €11.9m.

Accounts just returned to the Companies Office show that revenues at the Cork-based Novartis Ringaskiddy Ltd (NRL) dropped marginally from €113 million to €112m to the end of December last.

The figures show that the manufacturing company — which employs 428 people — saw its pre-tax profits increase by €3.5m from €8.4m to €11.9m.