Novartis on goal to hit mid-30s margins by 2022

Novartis is on track to achieve profit margins in the mid-30s, plans to spend about 5% of market cap per year on M&A and business development and licensing, and will complete a $5 billion share buyback program by the end of 2019, CEO Vas Narasimhan and CFO Harry Kirsch told reporters and investors this week.