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Novartis Bets On Buybacks Due To Limited M&A Options

Unveils Another $15bn Share Repurchasing Program

 
• By Kevin Grogan

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.

Harry Kirsch
CFO Harry Kirsch • Source: Novartis

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.

Kicking off the reporting season with a strong second quarter of sales growth, Novartis said the buyback was scheduled to...

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