Novartis Korea sales rise, profits drop

Novartis Korea, a Korean unit of Novartis Group, said yesterday it posted 478.7 billion won in revenue last year, up 9.86 percent a year earlier, but the company’s operating profit dipped more than 24 percent year-on-year to 27.9 billion won.

Its net profit of 19.3 billion won was more than a 33 percent drop from 2010.

Under the distribution agreement of its products, the company paid 4.7...