ARTICLE | Deals
Narasimhan: Novartis prefers smaller deals amid search for high-value assets
‘No change’ to strategy of seeking bolt-ons worth $5B or less, suggesting Cytokinetics takeout is unlikely
February 1, 2024 12:18 AM UTC
Suggesting a rumored takeout of Cytokinetics is unlikely, Novartis CEO Vasant Narasimhan said the pharma will continue to consider acquisitions priced below $5 billion and smaller licensing agreements as its “core approach” to deal-making.
On a quarterly earnings call Wednesday, Narasimhan said Novartis AG (SIX:NOVN; NYSE:NVS) anticipates “no change to our overall approach of smaller-than-$5 billion bolt-on acquisitions, with the vast majority of those deals being sub-$1 billion deals.”...