Novartis Investor Presentation
New Novartis: Our strategy
Our focus
Core Therapeutic Areas
Technology platforms
Priority geographies
> Capital allocation/structure
Our priorities
Conclusion
Abbreviations
Remain disciplined and shareholder focused
in our capital allocation priorities
Investing in the business
Investments in organic business
USD 9bn R&D 20211
4. Capital allocation / structure
Returning to shareholders
USD 53bn distributed (85% of FCF) 2017-2021
Growing annual dividend in CHF
USD 7.5bn paid out in 2022; DPS increase of
+3.3% CHF; +4.1% USD
USD 1.4bn capital investments 2021
Substantial
cash
generation
Value-creating bolt-ons
Share buybacks
USD 30bn (approx.) 2017-2021
USD 15bn ongoing,
USD 8.2bn to be executed²
Sandoz separation is expected to have limited impact on our credit rating, providing continued flexibility for future capital allocations
1. Core R&D actuals 2021
2. As of August 31 2022
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Novartis Investor Presentation | September 22, 2022
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