(Tiper Stock Exchange) – Novartis announces the intention to buy back up to $15 billion in stockby 2025, thanks to balance sheet results that showed strong sales.
The pharmaceutical company, which is preparing to spin off the generic products unit Sandozthrough a 100% spin-off that will take place in the fourth quarter of this year, has revised upwards the targets for the current year: theoperational profit, excluding some items, is expected to increase by double digits. Novartis also expects strong sales growth.
In the second quarter, the company’s net income rose to $2.32 billion from $1.70 billion a year earlier. Sales increased to $13.6 billion from $12.7 billion. Operating income came in at $2.92 billion from $2.23 billion, while core earnings per share increased to $1.83 from $1.56.