has offered investors a $5 billion sweetener through a share buyback program, signaling a sharper focus on shareholder rewards as it moves away from the big takeovers of the past. The Basel-based company is carrying out a broad review of operations following the departure of veteran chairman and one-time CEO Daniel Vasella and some analysts had seen scope for an even bigger handout to the company's shareholders. Novartis said it would allocate capital to the share buyback over two years as well as to a strong and growing dividend and to "bolt-on" or relatively small acquisitions. "We are now entering our next growth phase and we're focusing at driving continued growth but also on delivering good shareholder returns," Jimenez told investors and analysts in a presentation in London on Friday.
via Health News Headlines - Yahoo! News http://news.yahoo.com/novartis-sweetens-investors-5-billion-share-buyback-145836539--finance.html
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