Novartis has formally launched its new share repurchase programme, which could cost up to 10 billion Swiss francs ($10.90 billion) over the next three years. The Swiss company stated that it will purchase a maximum of 10% of its own stock between its most recent Annual General Meeting, held on March 7, and the AGM in 2026. Novartis stated that capital reductions of registered shares repurchased under the scheme will be proposed at future AGMs.
At their AGM last week, shareholders approved rolling over the remaining 6.5 billion francs for buybacks. The total amount was increased to 10 billion francs. Novartis recently completed the repurchase of 213 million shares between March 2020 and March 10, 2023. This amounted to 8.9 percent of the company's shares, which were either cancelled or will be proposed for cancellation at AGMs. Novartis AG is a Swiss multinational pharmaceutical corporation based in Basel, Switzerland and Cambridge, Massachusetts, United States (global research).
Consistently ranked in the global top five, Novartis is one of the largest pharmaceutical companies in the world and was the fourth largest by revenue in 2022. 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% of its shares, which have either been cancelled or will be proposed for cancellation at AGMs. Novartis has just completed the repurchase of 213 million of its shares in the period between March 2020 and March 10 2023.
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