Novartis Expects to Meet Revenue Target, Jimenez Tells Aargauer

Novartis AG (NOVN) expects to meet its goal of increasing revenue at least 10 percent in 2011 and improving its profitability, assuming constant exchange rates, Chief Executive Officer Joe Jimenez told Aargauer Zeitung.

The company is interested in further acquisitions, Jimenez said in an interview published today by the Aarau, Switzerland- based newspaper. Novartis’s priority is to reduce its debt after buying a stake in Alcon Inc., Jimenez was quoted as saying. The drugmaker should be able to do that “quickly” via its strong cash flow, the CEO added, according to Aargauer Zeitung.

To contact the reporter on this story: Klaus Wille in Zurich at kwille@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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