Are the stars lin­ing up for a ma­jor M&A deal at No­var­tis?

Two big things are go­ing on right now at No­var­tis that have the in­vestor crowd on high alert.

First, CEO Vas Narasimhan has sig­naled he’s now ready to sell or spin off the big gener­ics arm, San­doz. In Big Phar­ma land, any­thing that drags on per­for­mance — like con­sumer arms with ag­ing ther­a­peu­tics — is be­ing hived off as or­ga­ni­za­tions ze­ro in on in­no­va­tion as the fu­ture.

Sec­ond, they just sold that big block of Roche shares for $21 bil­lion. And what do they plan to do with all that mon­ey?

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