Novartis voices confidence in growth prospects and business strategy

Novartis has issued a report outlining its strategy for growth over the coming years and the initiatives it has taken to ensure long-term success.

The company recently agreed to sell off its blood transfusion diagnostics unit to Grifols as it seeks to focus its attention on high-growth areas, with its recent investments in pharmaceutical research and development starting to bear fruit.

Its dermatology, heart failure, respiratory and cell therapy segments are expected to be highly successful, complementing the growth of its oncology unit, while its integration of Alcon is now complete and delivering on its potential.

The company has underlined its confidence in its long-term prospects by announcing the launch of a $5 billion (3.09 billion pounds) share buyback scheme, which will be executed over the next two years.

Joseph Jimenez, chief executive officer of Novartis, said: "We are now further sharpening the execution of our strategy to strengthen shareholder value through science-based innovation in high-growth segments of healthcare where we have the global scale, competitive advantage and the right capabilities to win."

During the third quarter of 2013, the company generated $14.3 billion in sales – up by four percent year on year.