Novartis AG (NVS) CEO Not Keen on a Mega-Merger
10/8/2012 6:50:33 AM
Novartis is keen to maintain its dividend and is looking to boost growth via mid-sized acquisitions, though big deals are unlikely, the Swiss drugmaker's chief executive said in a newspaper interview on Sunday. Like many of its rivals, Novartis is struggling to grow in the face of patent expiries on key drugs, particularly Diovan for high blood pressure. It is relying on new products, like multiple sclerosis pill Gilenya, to fill the gap. In 2010, Novartis made headlines when it wrapped up its buyout of the remainder of U.S. eyecare group Alcon for $12.9 billion. The Basel-based firm in May agreed to buy Fougera Pharmaceuticals, a maker of generic dermatology products, for $1.53 billion in cash.
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