Novartis jumped over 3% in premarket trading as it launched new shares buyback of up to $15 bln

Tiger Newspress2021-12-16

Novartis jumped over 3% in premarket trading as it launched new shares buyback of up to $15 bln.Novartis AG is launching a new share buyback worth up to $15 billion to be executed by the end of 2023, it said on Thursday, adding it was confident in its top-line growth and deep pipeline.

The buyback is funded through the $20.7 billion the Swiss drugmaker raised by selling its nearly one-third voting stake in Roche back to its cross-town rival last month, Novartis said, adding its capital allocation strategy aimed to combine investing in core business and returning excess capital to shareholders.

Novartis said it had the flexibility to return value to shareholders "without compromising the company's capacity for value-creating bolt-on M&A, whilst providing a strong, growing dividend and reinvesting in the business".

The Swiss company confirmed it expected sales to grow by 4% or more through 2026.

The share buyback, to be executed on a second trading line, is expected to start within days.

Novartis will ask shareholders to approve an additional 10 billion Swiss franc ($10.81 billion) buyback authority at the annual general meeting on March 4 to cover the amount exceeding the 8.8 billion francs still available under the existing shareholder authority granted in 2021, the company said.

($1 = 0.9252 Swiss francs)

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

  • RS142
    2021-12-17
    RS142
    Good to buy
  • JaiVenky
    2021-12-17
    JaiVenky
    Noise
  • BKT
    2021-12-17
    BKT
    Good. Like pls thanks
    • BKT
      thanks
    • BKT
      good.thanks.
    • JeremyKok
      hi. please like and comment back. thank you.
  • lewisleeks
    2021-12-16
    lewisleeks
    Nice[Smile] 
  • Indu
    2021-12-16
    Indu
    Yes
  • peterhtseow
    2021-12-16
    peterhtseow
    Good signal from management - watch the levels that they buyback!
    • peterhtseow
      Yours too!
    • peterhtseow
      [Like]
    • RudolfKennedy
      Good news. Hold its stock patiently.
    • huuou
      I want it to buy back as large as possible.
    • uuunited
      Repurchase can support the stock price rise. For investors, repurchase means that the management thinks the company's share price is too low.
发表看法
24