GENEVA (AP) — Swiss pharmaceuticals company Novartis says net income jumped 12 percent in the first quarter, pointing to explosive growth in its heart-failure drug Entresto as its rollout continues, and powerful double-digit percentage growth for psoriasis drug Cosentyx.

TRENTON, N.J. (AP) — U.S. regulators approved a new psoriasis drug from Johnson & Johnson Thursday, giving people with the itchy and painful condition another treatment option.

Johnson & Johnson said that in one patient study, about seven in 10 patients getting the drug, Tremfya, had clear or nearly clear skin after 24 weeks of treatment. That compares with about four in 10 patients receiving rival AbbVie's Humira, which treats several immune disorders and is the world's top selling drug.

FRANKFURT, Germany (AP) — Swiss drug company Novartis saw net profit slip in the third quarter as the loss of a key drug to generic use in the United States outweighed strong sales of its psoriasis drug Cosentyx and MS treatment Gilenya.

Core net income fell 2 percent to $2.94 billion from $2.99 billion in the previous-year quarter. The loss of Gleevec, used to treat chronic myeloid leukemia, to generic use hurt sales revenue.