Anyone expecting sizeable M&A activity from Novartis AG any time soon is going to be disappointed as the Swiss major has instead decided to dip into its considerable cash pile to launch another share buyback program worth up to $15bn.
Novartis Bets On Buybacks Due To Limited M&A Options
Unveils Another $15bn Share Repurchasing Program
Chief financial officer Harry Kirsch has told reporters that decent bolt-on acquisition opportunities are rare and in their absence, buybacks represent a sensible use of capital.
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