Novartis raises outlook after strong quarter

At the same time, the Swiss pharmaceutical company also announces a USD 15bn buyback program and that the board of directors has approved a spin-off of subsidiary Sandoz.

By Naomi Kresge / Bloomberg

Novartis AG raised its profit outlook and announced plans to buy back as much as USD 15bn in shares as it prepares to spin off its Sandoz generics unit.

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