Novartis launches new share buyback of up to $15 bln

ZURICH: Novartis AG said on Thursday it was launching a new share buyback of up to $15 billion to be executed by the end of 2023, adding it was confident in its top line growth and deep pipeline.

The Swiss pharma company confirmed it expected sales to grow by 4% or more through 2026. Its capital allocation strategy aims to combine investing in core business and returning excess capital to shareholders, it said in a statement.