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Novartis Plumps For Share Buybacks Before Bolt-On M&A

$15bn Allocated For Scheme

 
• By Kevin Grogan

The Basel-headquartered giant has decided to spend a major chunk of its $20.7bn windfall from the sale of its stake in Roche on a stock repurchasing program up to the end of 2023, disappointing some observers who wanted to see big licensing deals or acquisitions.

100 dollars
Novartis cash reserves in excellent health • Source: Alamy

Observers who were hoping to see Novartis AG splash some of its big pile of cash on M&A activity may have to wait a while after the drugs major launched a new share buyback worth up to $15bn.

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