Novartis Starts a Share Buyback of up to $10 Billion and Raises the Earnings Outlook

Strong performances of recently launched medications demonstrate the replacement power of the portfolio, according to the company. Novartis (i) has initiated a share buyback of up to $10 billion and raised its profit forecast for the full year. This follows sustained demand for key drugs that spurred revenue and profit growth in the second quarter. Portfolio strength and patent expiration outlook The Swiss pharmaceutical company is preparing for the patent expiration – and the arrival of generic competitors – for its heart medication...