New Novartis chief Joe Jimenez (right) is looking at beefing up some business segments with acquisitions, but has nothing in mind as big as its $39.3 billion plan to buy the rest of eye-care company Alcon.
“We may go for smaller, bolt-on acquisitions to help build scale in vaccines, generics and consumer health, but we will not go for one of the same size and scale as Alcon for the foreseeable future,” Jimenez said at the Novartis annual meeting, according to Reuters. Jimenez, who succeeded Dan Vasella as Novartis CEO this month, didn’t comment on the plan for buying the shares it doesn’t already own in Alcon.
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