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May 13, 2019May 13, 2019

New Look Vision Announces Hearing Care Initiatives

New Look Vision Group Inc. announced that it has entered into agreements to launch hearing care initiatives on a pilot project basis in certain of its retail optical locations in Quebec, Ontario, British Columbia and Nova Scotia. In Quebec, beginning in May 2019, services offered will include hearing screening and full professional auditory services provided by the audiologists of Polyclinique de l’oreille, and complete hearing aid services provided by Le Groupe Forget, audioprosthetists, both managed by Les services de Location Hearing Care of America (“SLHCA”) . Avenir Hearing will provide the services outside of Quebec, starting in June 2019.

Antoine Amiel, President and Chief Executive Officer of New Look Vision stated “Hearing care has been a long-time endeavour of New Look Vision’s based on successful precedents, particularly in Europe. The patient demographics and journey is strikingly similar to eye care. It is a natural extension of the services we can deliver in our existing stores. Our chosen partners share our values and outlook. Everyone at New Look Vision is very much looking forward to working and learning with them”.

Steve Forget, President and Chief Executive Officer of SLHCA inc. said that “This agreement will allow Groupe Forget, Audioprosthetists and Polyclinique de l’oreille to have new points of contact with potential patients and excellent visibility.”

Dr. Denis LeBlanc, President of Avenir Hearing added “Avenir Hearing, with our purpose to restore the hope, health and happiness of all those affected by hearing loss, is very happy to have partnered with a like minded company such as New Look Vision. We look forward to our first wave of clinics and the positive impact we will have on people’s lives.”

Click HERE for the full press release.

May 13, 2019May 13, 2019

EssilorLuxottica and Delfin Sign Settlement Agreement to Solve Governance Issues

EssilorLuxottica announced that EssilorLuxottica and Deflin S.à.r.l. agreed upon a settlement agreement to overcome the governance issues and set the basis for a renewed start of profound collaboration between Essilor and Luxottica. The agreement settles any existing dispute among the parties.

The Board of Directors of EssilorLuxottica unanimously supported and approved this agreement aimed at immediately making the Group’s structure more efficient and effective from an operational standpoint.

The equal-powers governance, set forth in the Combination Agreement and the Board Rules, is remaining in place until the date of the shareholders’ general meeting to be called in 2021 to approve the financial statements for the year ended December 31, 2020.

According to the agreement, Leonardo Del Vecchio and Hubert Sagnières empowered Francesco Milleri (Deputy Chairman – CEO of Luxottica Group) and Laurent Vacherot (CEO of Essilor International) with the responsibility to develop and implement the EssilorLuxottica strategy and integration process, accelerating the simplification of the new Group by integrating the two operating companies within the next 12 to 24 months. The Board also confirmed the search for a new CEO.

As a result of this agreement, all existing claims will be waived and legal proceedings will be terminated, including the request for arbitration filed by Delfin before the International Court of Arbitration of the International Chamber of Commerce on March 27, 2019.

In light of this agreement, Valoptec decided that it will withdraw the proposal submitted on April 18, 2019 for the appointment, at the Shareholders’ Meeting convened for May 16, 2019, of one additional Director of EssilorLuxottica and will vote against the proposals submitted by certain institutional investors for the appointment of two additional Directors.

As previously stated, the Board recommends that the shareholders vote against all the remaining proposed additional resolutions which, if approved, would result in a clear breach of the Combination Agreement and in a potential disruption for the activities of the Board.

Click HERE for the full press release.

May 13, 2019May 10, 2019

Novartis Canada Celebrates Annual Community Partnership Day Across Quebec

In celebration of the company’s 23^rd annual Community Partnership Day, close to 400 Novartis Canada associates joined their colleagues around the world to give back to their communities. Overall, Novartis associates across 6 continents and 53 countries are supporting local non-profit organizations, representing more than 100,000 hours of combined community service.

“Community Partnership Day is a great opportunity for us to give back”, said Christian Macher, newly appointed President of Novartis Pharmaceuticals Canada Inc. “I am very proud to kick off one of my first days as President supporting the communities where we live and work. Together with all Novartis associates, I feel privileged to volunteer for these invaluable organizations and to participate in this inspiring day.”

Kathleen Greenfield, Coordinator of Community Relations for Volunteer West Island (VWI) helps Novartis organize the day for Dorval-based associates through the VWI Corporate Volunteer Program. “Novartis employees often return on their own to volunteer with the groups they first get to know through Community Partnership Day. They also encourage their friends and even their children,” she said. “The groups eagerly welcome back the teams from Novartis and are very appreciative of their help.”

In the Montreal area, associates volunteered in a number of ways including cleaning, cooking and food prep, gardening, and yard work with 11 organizations across the city, including:

Animatch
Héritage Laurentien
Le Nichoir
Omega Community Resources
Salvation Army
Tyndale St-Georges Community Centre
Welcome Hall Mission
West Island Cancer Wellness Centre

Sandoz associates in Boucherville will be working on projects with several organizations in the South Shore area of Montreal throughout the year including l’École secondaire de Mortagne and la Source Bleue de Boucherville.

Click HERE for the full press release.

May 10, 2019

Essilor’s Inclusive Business 2.5 NVG Celebrates Equipping Over 10 million People in India with Affordable Eye Care

Essilor announced that since 2013, its inclusive business, 2.5 New Vision Generation (2.5 NVG), has equipped more than 10 million people from underserved populations in India with glasses and, through its Eye Mitra program, provided over 200 million people with sustainable access to vision care. This announcement confirms 2.5 NVG’s significant impact towards the company’s ambition to eradicate poor vision by 2050.

Eye Mitra (friend of the eyes), 2.5 NVG’s flagship inclusive business program and the world’s largest rural optical network, is one of the leading contributors to this milestone. To honor their accomplishment, Essilor hosted more than 1,000 Eye Mitras from across India at its 6th annual Eye Mitra Convention in Jaipur on 8 May.

Uncorrected poor vision affects 2.5 billion people around the world and has an estimated economic and social impact of $272 billion per year*. To address this issue, Eye Mitra was launched in 2013. Through training, skills building and livelihood promotion, the program empowers unemployed and underemployed young people to set up micro enterprises in their rural communities. Trained to conduct basic vision screening and dispense affordable eyeglasses, Eye Mitras create access to vision care where it was not available before. The success of Eye Mitra in India has also led to its expansion and adaptation across the world in markets such as Bangladesh, Kenya and Indonesia – today we have nearly 12,000 primary vision care providers globally.

The annual convention is an important moment for Eye Mitras from across India to come together to celebrate their achievements, share their learnings and stories to help motivate and inspire others to develop and grow. The theme of this year’s convention looked to the future, showcasing the innovation and digitization that will help equip millions more living in rural areas with the vision correction they need.

Essilor aims to create 25,000 primary vision care providers around the world by 2020.

Click HERE for the full press release.

May 10, 2019May 10, 2019

Novartis to Acquire Xiidra

Novartis announced that it has entered into an agreement with Takeda Pharmaceutical Company Limited to acquire the assets associated with Xiidra^®(lifitegrast ophthalmic solution) 5% worldwide. Xiidra is the first and only prescription treatment approved to treat both signs and symptoms of dry eye by inhibiting inflammation caused by the disease. The transaction would bolster the Novartis front-of-the-eye portfolio and ophthalmic leadership. Closing of the transaction is expected in second half of 2019, subject to customary closing conditions including regulatory approvals. On closing, Novartis plans a smooth transition of operations and integration of Xiidra into its pharmaceuticals portfolio.

Xiidra, with its anti-inflammatory mechanism of action, is the first dry eye treatment approved to treat both the signs of eye damage and the physical symptoms experienced by patients. Additional benefits of Xiidra, exhibited in phase III studies, include a timely onset of action and well-tolerated safety profile.

“Xiidra, with its unique dual benefits, is an example of the type of innovative advances we invest in for the benefit of patients,” said Paul Hudson, CEO Novartis Pharmaceuticals. “We look forward to leveraging our well-established commercial infrastructure to bring this medicine to more patients.”

In addition to powering Novartis’ ability to serve more patients suffering from eye disease, the additional commercial experience established with Xiidra is expected to better position the company for front-of-the-eye pipeline products currently in development.

Deal terms include a USD 3.4 billion upfront payment with potential milestone payments of up to USD 1.9 billion. As part of the agreement, Novartis will be taking on approximately 400 employees associated with the product.

Click HERE for the full press release.

New Look Vision Announces Hearing Care Initiatives

EssilorLuxottica and Delfin Sign Settlement Agreement to Solve Governance Issues

Novartis Canada Celebrates Annual Community Partnership Day Across Quebec

Essilor’s Inclusive Business 2.5 NVG Celebrates Equipping Over 10 million People in India with Affordable Eye Care

Novartis to Acquire Xiidra

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