Novartis CEO Vas Narasimhan Says Company Has Firepower for Major M&A Deals

Novartis CEO Vas Narasimhan said the company will continue to pursue big M&A deals in the pharma sector, citing the need for new assets to offset generics competition. The company has acquired over 35 firms in the past year and recently bought US biotech Avidity Biosciences for $12 billion, giving it access to a promising pipeline of experimental drugs. Novartis has adequate firepower to pursue such deals, with approaching $20 billion in free cash flow per year.