Novartis on Alcon: All Options are Open

Monday, November 14 2016 | 00 h 00 min | News

Reuters reported yesterday, that Swiss parent of Alcon, drugmaker Novartis is considering the sale of its eye care unit Alcon.  The source is an interview with the Swiss weekly SonntagsZeitung.

Novartis Chief Executive Joe Jimenez said that the turnaround at Alcon will take longer than expected, citing October unit sales to be flat to declining.

Chairman Joerg Reihhard indicated the division has not developed as expected, “In the long run, the questions arises as to whether we are the best owner for Alcon.”

Infoclip.ca has reported that Novartis was considering selling Alcon’s contact lens care business December 2, 2015 and that Alcon had replaced their CEO and restructured after poor earnings report in January 2016.

Source: http://www.reuters.com/article/us-novartis-divestiture-alcon-idUSKBN1380EZ