Novartis could make double-digit billion buys, Alcon update at 2017-end (translated)
12 JUL 2017
Novartis [VTX:NOVN], the Switzerland-based pharma giant, could make acquisitions valued in the double digit billions, Finanz und Wirtschaft reported.
In a lengthy interview, Novartis Chairman Joerg Reinhardt told the Swiss bi-weekly the focus is on smaller buys but he would approve deals in the tens of billions if they made sense. Reinhardt said he would consider a buy in the low tens of billions as a bolt-on buy.
Asked what he is planning for the Alcon contact lens care company, Reinhardt said he is examining all options including keeping the unit, and would provide an update on the situation at the end of the year.
Regarding Novartis' shareholding in Roche [VTX:ROG], Reinhardt said he meets Roche Chairman Christoph Franz from time to time but has not had a formal discussion about selling the package up to now.
Asked if he is interested in AstraZeneca [LON:AZN] as has been speculated, Reinhardt said there were always rumours floating and that one should not always believe what one reads in the press.