Novartis launches new USD 11 billion share buyback
Advertisement
Zurich: Novartis has formally launched its new share buyback programme where it could spend up to 10 billion Swiss francs ($10.90 billion) repurchasing its shares over the next three years.
The Swiss company said it will buy a maximum of 10 percent of its own stock over the period from its last Annual General Meeting, which took place on March 7, up to the AGM in 2026. Capital reductions of the registered shares repurchased under the scheme will be proposed at future AGMs, Novartis said.
Shareholders approved rolling over the remaining authorisation of 6.5 billion francs for buybacks at their AGM last week. The amount was topped up to 10 billion francs in total.
Novartis has just completed the repurchase of 213 million of its shares in the period between March 2020 and March 10 2023.
This amounted to 8.9 percent of its shares, which have either been cancelled or will be proposed for cancellation at AGMs.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.