Novartis Lifts FY23 View As Q2 Results Top Market, Initiates $15 Bln Buyback; Stock Up

Shares of Novartis AG were gaining around 4 percent in the morning trading in Switzerland as well as in pre-market activity on the NYSE after the drug major raised its fiscal 2023 outlook on Tuesday after reporting higher second-quarter results. Core earnings and top line beat market estimates. Further, the company announced up to $15 billion share buyback to be completed by year-end 2025.

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