With 100% Alcon Ownership, Novartis Forms New Eye Care Unit
This article was originally published in The Gray Sheet
Novartis will create a new eye care division – representing the fifth growth platform in its health care portfolio – after acquiring full ownership of ophthalmology specialist Alcon.
You may also be interested in...
For Novartis, acquiring the first 77% of Alcon might have been the easy part. Novartis said Aug. 26 that it had closed its deal to acquire 52% of Alcon from Nestle for $28.3 billion in cash, on top of the 25% it acquired from the same company in 2008
In a strong sign of Novartis' long-term commitment to ophthalmology, the firm announced Jan. 4 that it would exercise its option to purchase Nestlé's remaining 52% stake in eye-care group Alcon for $28.1 billion and separately pursue a buyout of the 23% of shares owned by independent stockholders
Diversified drug, diagnostics and ophthalmic device giant Novartis will acquire a 25% stake in eye care market leader Alcon as a first step toward potentially gaining majority ownership of the company by 2011, the firms announced April 7