Swiss daily Tagesanzeiger has reported today that Novartis group could pursue significant targets such as US-based Incyte Corporation and Alexion Pharmaceuticals. The author has quoted a statement by CEO Vas Narasimhan.
It is clear that Novartis does not lack capital to perform significant takeovers–it yesterday sold its 36.5% shares in the JV Consumer Health to GSK, earning $13bn. Additionally, it is likely to soon divest its 6% share in Roche, worth $14bn, many people familiar with the matter say.
Incyte has a capitalization of approximately $19bn, while Alexion’s capitalization is $24bn with a 55 P/E ratio. Novartis’ shares have risen today 1.8% (Zürich), taking its capitalization to $179bn.