Novartis sees profit margin hike as it revamps drug portfolio

Zurich

NOVARTIS AG said on Thursday it expects to increase its profit margin this year as it restructures its drug portfolio and cuts costs, as well as generate cash for a higher dividend and smaller, strategic acquisitions.

"While we continue to improve productivity and generate leverage, our capital allocation priorities remain the same: investing in the existing business, growing the annual dividend, bolt-on acquisitions, and share buybacks," the Basel-based drugmaker said in a statement.