Q4 2022 Results
Company overview
Financial review
2023 priorities
Appendix
Our capital allocation priorities are shareholder-focused, allowing
for flexibility in strategic investments and capital distribution
STRATEGY
Investing in the business
Investments in organic business
USD 9.1bn R&D 20221
USD 1.2bn capital investments 2022
Substantial
cash
generation
Value-creating bolt-ons
Returning to shareholders
USD 59bn distributed 2018-2022
Growing annual dividend in CHF
USD 7.5bn paid out in 2022
Proposed DPS: +3.2% CHF; +3.9% USD
No rebasing post planned Sandoz spin-off
Share buybacks
USD 30bn (approx.) 2018-2022
USD 15bn ongoing
USD 4.9bn to be executed²
Planned Sandoz spin-off is expected to have limited impact on our credit rating, providing continued flexibility for future capital allocations
1. Core R&D and cap-ex actuals 2022. 2. As of December 31, 2022.
9 Investor Relations | Q4 2022 Results
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