Novartis, the multinational pharmaceutical company based in Switzerland, is expecting record profits for 2009. In the final quarter of the year, the company estimates it will sell 90 to 120 million doses of Mexican flu vaccine. This will earn it 400 million euros.

Reporting its third quarter sales figures, Novartis said the precise profits for the fourth quarter would depend on the state of the United States dollar.

The company's performance stands in stark contrast to the sombre picture painted at the beginning of the year. Novartis, like many other pharmaceutical companies, expected to perform badly in 2009. However, they have all seen their earnings boosted by sales of a vaccine for the A(H1N1) virus. That said, they continue to suffer from increasing competition from the makers of generic drugs.

Photo of Novartis flu supplies by bpende (flickr)