UPDATE 1-Novartis warns of currency drag on 2015 earnings

April 23, 2015 5:54 AM

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ZURICH, April 23 (Reuters) - Swiss drugmaker Novartis on Thursday posted declining sales in the first quarter and cautioned that dollar strength may be a bigger-than-expected drag on full-year figures.

The Basel-based firm said the strong dollar -- its reporting currency -- would shave 10 percent off 2015 sales and 13 percent from core operating income if April exchange rates continue for the rest of the year.

Also read: Novartis says Q3 profit slipped 4 percent, hurt by Alcon

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