Novartis starts share buy-back, highlights product pipeline

Novartis starts share buy-back, highlights product pipeline
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ZURICH (Nov 24): Novartis is initiating a previously announced share buy-back worth up to US$2.5 billion, it said today as it highlighted its research and development pipeline in an investor presentation.

The Swiss drugmaker also increased its target for a technical operations productivity programme starting in 2021 to US$2 billion from US$1.5 billion and said it was committed to driving constant margin expansion.

Novartis said its product pipeline was set to fuel growth in the mid to long term.

"The total value of estimated sales of products launched from 2020 to 2026 puts Novartis as No 2 for pipeline replacement power in the global pharmaceutical industry," it said.

The share buy-back starts immediately and will last into the first half of 2021, it said.