Novartis has eyes for Alcon

Share this article:
Novartis shelled out $10.4 billion to Nestle for a 25% stake in eye care company Alcon.

The drugmaker holds exclusive rights to acquire Nestle's remaining 52% share in the company under an option commencing January 1, 2010, and running through July 31, 2011.

The acquisition would broaden Novartis' consumer ophthalmic franchise, a useful hedge at a difficult time for pharma. Fort Worth, TX-based Alcon's products include: the Opti-Free contact lens care franchise, along with Systane lubricant drops and I-Caps eye vitamin drops; surgical products including AcrySof lenses; eye allergy drop Patanol and ear infection treatment Ciprodex. Novartis ophthalmic products include its CIBA Vision contact lens line and, outside of the US, wet AMD treatment Lucentis.
 
As part of the deal, Novartis chairman and CEO Daniel Vasella joins Alcon's board of directors, along with Nestle EVP/CFO James Singh.
Share this article:

Email Newsletters

More in News

House bill would speed approval once EU OKs same product

House bill would speed approval once EU OKs ...

The Speeding Access to Already Approved Pharmaceuticals Act of 2014 would require FDA to expedite the review of pharmaceuticals that are already approved by the European Union

Rep access continues to shrink

Rep access continues to shrink

Sales reps are experiencing even more limited physician access, according to a report by Chicago consultancy ZS Associates.

Allergan touts reorg, plans to lay off 13% of workforce

Allergan touts reorg, plans to lay off 13% ...

Allergan's second-quarter earnings, and a new round of cuts, are now part of the Botox maker's record as it seeks to remain independent.