Novartis AG

Novartis, based in Basel, is one of the world's largest pharmaceutical companies, focused on innovative prescription medicines in areas such as cancer, cardiovascular and immunology after spinning off its generics arm Sandoz. A deep pipeline and strong patent-protected drugs give it dependable, high-margin cash flow. Novartis has raised its dividend every year for three decades, a rare record backed by resilient healthcare profits, and adds large buybacks. A dependable, steadily growing payout from a defensive pharma giant gives it one of the highest DiviScores in the index.