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Novartis (NVS) Stock Down on Profit Warning

NEW YORK (TheStreet) -- Shares of Novartis (NVS) are declining 1.10% to $81.14 in pre-market trading after the Swiss drugmaker warned that full-year profit could fall as it boosts investment in its new heart-failure treatment amid generic competition for its bestseller cancer treatment Gleevec.

The decision to bolster the company's investment in Entresto by another $200 million this year could cause core operating income to decline by a percentage in the low single digits at constant exchange rates, according to a company statement.

The investment will be put toward hiring sales representatives to educate physicians about new treatment guidelines that...