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Novartis AG (NVS) CEO Says Can Spend $4-6 Billion A Year On Buys To Strengthen Core Pharma


12/9/2013 8:32:09 AM

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Swiss drugmaker Novartis can spend $4-6 billion per year on acquisitions to strengthen its core pharma, eyecare and generics businesses or its three smaller units, its chief executive officer said in an interview on Sunday. "Novartis' cashflow is big enough each year for us to increase the dividend for shareholders and at the same time do bolt-on buys. We can spend $4-6 billion a year on these," CEO Joe Jimenez told Swiss newspaper Schweiz am Sonntag. He said Novartis could spend $2-4 billion per acquisition on targets that would strengthen one of its three big units.

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