RTTNews | Dec 16, 2021 10:38AM EST

10:38 Thursday, December 16, 2021 (RTTNews.com) - Novartis AG (NVS) shares are trading more than 5 percent on Thursday morning after the company announced a share buyback of up to $15 billion by end of 2023. The buyback will be funded through the proceeds from the recent sale of 53.3 million Roche bearer shares.

Currently, shares of the global medicines company are at $85.93, up 5.42 percent from the previous close of $81.52 on a volume of 1,802,073. For the 52-week period, the shares have traded in a range of $79.34-$98.52 on average volume of 2,293,442.

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