A series of potential asset deals could put $50 billion cash in the hands of Novartis CEO Joe Jimenez. While he has said he is looking for manageable deals, the company's pharma portfolio has gaping holes in it, and some analysts are getting anxious the Swiss pharma might squander its opportunity as it did when it bought Alcon, one of the operations Jimenez might unload.
A sale of the the eye care business Alcon could be bring in $25 billion to $35 billion. Novartis paid $60 billion for it 6 years ago.
Another $10 billion might come from Novartis selling its stake in its consumer health JV with GlaxoSmithKline. It has only until next March to decide whether to exercise an option for that 36.5% chunk, Reuters pointed out.
Finally, Novartis has a stake in Swiss peer Roche—which Jimenez’ predecessor bought—that is worth an estimated $14 billion. The company has said it might sell that to do deals.
Jimenez has said he is on the hunt for smaller acquisitions, but as a leader in cancer medicine with no immuno-oncology drug on the market, some investors have worried Novartis might take a run at Bristol-Myers Squibb or AstraZeneca. BMS’ Opdivo is one of the leaders in the immuno-oncology market, and AstraZeneca just this month won FDA approval for its checkpoint inhibitor Imfinzi in bladder cancer. (...)
Ver:
BMS...son rumores.
AstraZeneca en el punto de mira de Novartis / Y volver, volver...volver
Extra, Extra, Extra...: Novartis va, de nuevo, por AstraZéneca?
Of course, merger talk is a staple of the industry and most of it ends up being wishful thinking for investors hoping for a big payday.
While Novartis has not wavered from its insistence that small bolt-ons, up to $5 billion, are what the company is looking for, Reuters pointed out its sales have fallen the last nine quarters at Novartis, Alcon is a big drag on the company and some of its newer drugs have been slow starters. This all puts pressure on the CEO to do something that will impress investors. (Más)
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