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Novartis AG (NVS) Has $10 Billion to Spend on M&As, Just Not on Onyx Pharmaceuticals, Inc. (ONXX)


8/13/2013 10:47:33 PM

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Novartis AG (NOVN) Chairman Joerg Reinhardt said a $10 billion purchase is possible as the drugmaker reviews its business, including units focused on animal health and vaccines.

“We will also start next week to look at our portfolio based on strategic perspectives going forward,” Reinhardt said in an interview at the company’s Basel, Switzerland, headquarters today. Bolt-on deals are attractive, and “I don’t think a $10 billion acquisition is out of reach.”

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