Novartis initiates new USD 15 billion share buyback highlighting confidence in growth and pipeline
16 Dezembro 2021 - 3:00AM
Ad hoc announcement pursuant to Art. 53 LR
- Share buyback of up to USD 15bn planned to be executed by end
2023, highlighting confidence in top line growth and deep
pipeline
- Sales expected to grow 4%+ CAGR through 2026* and up to 20 new
assets with significant sales potential set to potentially be
approved by 2026, to fuel further growth through 2030 and
beyond
- Capital allocation strategy aims to combine investing in core
business and returning excess capital to shareholders
- Increase of CHF 10bn to the current share buyback authority to
be sought at forthcoming Annual General Meeting on March 4,
2022
Basel, December 16, 2021 — Novartis today
announced that it will initiate a share buyback of up to USD 15
billion to be executed by the end of 2023. The buyback is funded
through the proceeds from the recent sale of 53.3 million Roche
bearer shares.
The Novartis Board of Directors and Executive Committee are
confident in the company’s short, medium and long-term growth
profile based on strong in-market portfolio, a robust pipeline with
up to 20 assets with significant potential, and advanced technology
platforms. With strong operational performance, prospects for
earnings growth and the proceeds from the recent sale of the Roche
stake, Novartis retains the flexibility to return value to
shareholders through the planned USD 15bn share buyback, without
compromising the company’s capacity for value-creating bolt-on
M&A, whilst providing a strong, growing dividend and
reinvesting in the business.
The share buy-back will be executed on the 2nd trading line, is
expected to commence in the coming days and to conclude by the end
of 2023. An additional CHF 10bn buyback authority will be sought at
the forthcoming Annual General Meeting on March 4, 2022 to cover
the amount exceeding the CHF 8.8bn still available under the
existing shareholder authority granted in 2021. Further information
on the growing dividend and growth outlook will be provided at the
company’s full year 2021 results on February 2nd, 2022.
Disclaimer
This press release contains forward-looking statements within
the meaning of the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements can generally be
identified by words such as “potential,” “can,” “will,” “plan,”
“may,” “could,” “would,” “expect,” “anticipate,” “seek,” “look
forward,” “believe,” “committed,” “investigational,” “pipeline,”
“launch,” “aims,” or similar terms, or by express or implied
discussions regarding the potential impact of the share buyback
plan. You should not place undue reliance on these statements. Such
forward-looking statements are based on our current beliefs and
expectations regarding future events, and are subject to
significant known and unknown risks and uncertainties. Should one
or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those set forth in the forward-looking statements.
There can be no guarantee that any expected benefits from the share
buyback plan will be achieved in the expected timeframe, or at all.
In particular, our expectations regarding the share buyback plan
could be affected by, among other things, the uncertainties
inherent in research and development, including clinical trial
results and additional analysis of existing clinical data;
regulatory actions or delays or government regulation generally;
global trends toward health care cost containment, including
government, payor and general public pricing and reimbursement
pressures and requirements for increased pricing transparency; our
ability to obtain or maintain proprietary intellectual property
protection; the particular prescribing preferences of physicians
and patients; general political, economic and business conditions,
including the effects of and efforts to mitigate pandemic diseases
such as COVID-19; safety, quality, data integrity or manufacturing
issues; potential or actual data security and data privacy
breaches, or disruptions of our information technology systems, and
other risks and factors referred to in Novartis AG’s current Form
20-F on file with the US Securities and Exchange Commission.
Novartis is providing the information in this press release as of
this date and does not undertake any obligation to update any
forward-looking statements contained in this press release as a
result of new information, future events or otherwise.
* 2020 – 2026 CAGR calculated vs. 2020 base year.
About Novartis
Novartis is reimagining medicine to improve and extend people’s
lives. As a leading global medicines company, we use innovative
science and digital technologies to create transformative
treatments in areas of great medical need. In our quest to find new
medicines, we consistently rank among the world’s top companies
investing in research and development. Novartis products reach
nearly 800 million people globally and we are finding innovative
ways to expand access to our latest treatments. About 108,000
people of more than 140 nationalities work at Novartis around the
world. Find out more at https://www.novartis.com.
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Novartis Media RelationsE-mail:
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Richard JarvisNovartis
Strategy & Financial Comms+41 79 584 23 26
(mobile)richard.jarvis@novartis.com |
Julie MasowNovartis US
External Communications+1 862 579 8456Julie.masow@novartis.com |
Novartis Investor RelationsCentral investor
relations line: +41 61 324 7944E-mail:
investor.relations@novartis.com
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