Novartis (NVS) is tracking the Trump administration's proposed reciprocal tariff policy "very carefully" and will respond accordingly once the policy is implemented next month, Reuters reported Monday, citing Novartis Chief Executive Vas Narasimhan.

"The real key is to see what are the policies that are actually implemented versus what's being said in the rhetoric," Narasimhan reportedly said. "And then we're just going to have to respond appropriately."

The Swiss pharmaceutical giant didn't immediately respond to MT Newswires' request for comment.

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