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Novartis Finance Chief Rules Out Large M&A

Two Thirds Of Mega-Mergers ‘Fail’

 
• By Kevin Grogan

While the correction of the biotech markets downwards increases the chances of bolt-on deals, even with the reduced prices, interesting assets are not so easy to come by, so says Novartis CFO Harry Kirsch.

Harry Kirsch
Harry Kirsch • Source: Novartis

Anyone hoping to see Novartis AG enter into any major M&A activity will be disappointed, according to chief financial officer Harry Kirsch who reiterated that bolt-on acquisitions are the priority.

Speaking to journalists as the Swiss major unveiled a decent set of financials for the second quarter which saw sales dip by 1% to $12.78bn due to currency impacts, Kirsch...

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