If Novartis has put on 50% or 15B, how is Microsoft doing better by putting on 22% or 11B? Now, I'm not fully convinced that companies on that scale are really

If Novartis has put on 50% or 15B, how is Microsoft doing better by putting on 22% or 11B? Now, I'm not fully convinced that companies on that scale are really delivering the best market value to either shareholders or wider society compared to their functions being split across a network of smaller organisations that can stand or fall on their own merits, but still... other large companies exist and have done better.