Novartis confirms 2015 guidance after Q1 profit beat

ZURICH, April 23 (Reuters) - Swiss drugmaker Novartis on Thursday maintained its 2015 guidance as it posted first-quarter core net income that beat expectations.

The group reported a 7 percent year-on-year fall in first-quarter net sales in continuing operations to $11.9 billion, while sales rose 3 percent at constant currencies. Total (Swiss: FP.SW - news) group net sales were $12.5 billion.

Novartis (Xetra: 904278 - news) generated net income in continuing operations of $3.2 billion, down 4 percent in dollar terms on the same period last year but up 8 percent at constant currencies. Total group net income was $3.1 billion.

Analysts in a Reuters poll had forecast total group net sales of $12.6 billion and group core net income of $2.9 billion.

"We are on track to deliver our full-year guidance," Chief Executive Joseph Jimenez said in a statement. (Reporting by Joshua Franklin; Editing by Michael Shields)