Novartis lays out future plans

At its investor meeting on Wednesday, Novartis AG (NYSE:NVS; SIX:NOVN) provided an update on its long-term strategy. By 2015, the pharma expects its specialty and cancer portfolio to account for 75% of pharmaceutical sales, up from over 65% currently. Novartis noted it will sustain its investment in R&D "at the high end of the industry" over the next five years but did not provide a figure on how much it intends to spend. In 2009, the pharma invested about $7.5 billion on R&D, or about 17% of its net sales. Novartis also said it plans to strengthen its commercial presence in emerging markets and develop significant business in China, Russia, Brazil and India. ...