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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)

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评论24

  • RS142
    ·2021-12-17
    Good to buy
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    • jas68
      cool. thanks
      2021-12-17
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  • JaiVenky
    ·2021-12-17
    Noise
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  • BKT
    ·2021-12-17
    Good. Like pls thanks
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    • BKT
      thanks
      2021-12-18
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    • BKT
      good.thanks.
      2021-12-17
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    • JeremyKok
      hi. please like and comment back. thank you.
      2021-12-17
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  • lewisleeks
    ·2021-12-16
    Nice[Smile] 
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  • Indu
    ·2021-12-16
    Yes
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  • peterhtseow
    ·2021-12-16
    Good signal from management - watch the levels that they buyback!
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    • peterhtseow
      Yours too!
      2022-01-06
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    • peterhtseow
      [Like]
      2022-01-06
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    • RudolfKennedy
      Good news. Hold its stock patiently.
      2021-12-24
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    查看更多 2 条评论
  • Gold75
    ·2021-12-16
    Good move. Pls like Tq
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    • JeremyKok
      hi. please like and comment back. thank you.
      2021-12-17
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    • Foxie
      Done
      2021-12-16
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  • 圆圆蔡
    ·2021-12-16
    Good
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  • LimLS
    ·2021-12-16
    They feel their shares are undervalued. That's why they are buying back. I do agreed though. If they cant make better use of their cash, it's better to give back as dividend or do shares buyback. Disclaimer : I'm vested
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    • BettyT
      Totally agree
      2021-12-16
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    • Tchwee56
      LiKe please
      2021-12-16
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    • Maxsoh49
      Really? The PE ratio is not low
      2021-12-16
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    查看更多 1 条评论
  • Tatsuya
    ·2021-12-16
    ...
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  • 351b6f96
    ·2021-12-16
    Good
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  • andrewtingg
    ·2021-12-16
    Like
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  • Sew
    ·2021-12-16
    O
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    • 1a5e40bb
      k
      2021-12-16
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  • YSF1953
    ·2021-12-16
    Like
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  • CYK1955
    ·2021-12-16
    Ok
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  • YongZongHan
    ·2021-12-16
    Like
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    收起
  • 525d868
    ·2021-12-16
    Ok
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  • lansam
    ·2021-12-16
    Oops 
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  • Fiona888
    ·2021-12-16
    Yes
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    • CYK1955
      Ok
      2021-12-16
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    • Fiona888
      ok
      2021-12-16
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  • kevinlaisq
    ·2021-12-16
    Pls like
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    收起
    • JeremyKok
      hi. please like and comment back. thank you.
      2021-12-17
      回复
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    • YongZongHan
      Ok
      2021-12-16
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    • ILFTS
      Liked please
      2021-12-16
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