Novartis is a Swiss-based pharmaceutical company formed by the merger of Basel-based Sandoz and Ciba-Geigy. It is strong in oncology, diabetes, multiple sclerosis, and asthma. Under its Harvard educated MD CEO Vaz Narasimhan, the company has reshaped its portfolio over the last few years, spinning off its lower margin Alcon eyecare and Sandoz generic drugs businesses to shareholders in 2020 and 2023 respectively. Novartis sold its stake in cross town rival Hoffman la Roche in 2024 and used the $15 billion proceeds to fund a share buyback.