I believe that biogenerics are the strongest engine for growth going forward. 8 Phase III studies are underway for some of the biggest blockbusters in medicine including Humira, Enbrel and Rituxan. These products will drive long term growth and will face less competition than typical drugs. Competitors like Teva have dropped there program for Rituxan. Biogenerics are positioning Sandoz to become the largest generics company in the world.
NVS has too many moving parts to look for one major catalyst. Your better going to small biotechs if that is what you are looking for. NVS is more like a well diversified Health care mutual fund.