Big M&As unlikely, says Novartis CEO
The CEO of Swiss pharma company, Novartis, has said that while the company is facing pressures from expired patents on key drugs, it is unlikely to conduct any big mergers or acquisitions in the near future. CEO Joe Jimenez said that Novartis may look to medium-sized acquisitions for growth, as well as relying on sales of its new products, such as multiple sclerosis drug Gilenya.
“Defending the dividend is a priority. We want to stick with a good dividend yield in the future. Then we want to conduct medium-sizes acquisitions to boost our growth. In the foreseeable future we’re most probably not going to do any mega takeovers.”
CEO Joe Jimenez told the German newspaper, SonntagsZeitung.
Novartis’ top-selling high blood pressure drug, Diovan, saw annual revenues of US $5.6 billion, before its loss of exclusivity in Europe and the US in 2011. However, Joe Jimnenez is confident that Novartis’ “sales should rise markedly in the second-half of 2013”.
Novartis AG (NVS) CEO Not Keen on a Mega-Merger (Bio Space)
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