Novartis launches $5 billion share buyback, mulls Alcon spin-off

By John Miller BASEL, Switzerland (Reuters) - Swiss drugmaker Novartis said on Wednesday it will buy back up to $5 billion (3.98 billion pounds) worth of shares over the next 12 months and may spin off the Alcon eye care business as it navigates a tough year before an expected return to growth in 2018. The shares rose, as analysts said the debt-financed buyback and the prospect of action being taken over Alcon's chronic underperformance made up for the message that 2017 would be another year of