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Novartis Announces Intention to Spin Off Alcon

Novartis has announced that they intend to seek shareholder approval to spin off 100% of Alcon’s eye care device business into a standalone, separately traded company.

The new company would be incorporated in Switzerland, with major operations remaining in Fort Worth. Alcon’s ophthalmology pharmaceuticals portfolio would remain with Novartis.

Alcon CEO Mike Ball would become Chairman-designate; COO, and David Endicott would be promoted to Alcon CEO, both appointments effective July 1, 2018.

Joerg Reinhardt, Chairman of Novartis, said: “Our strategic review examined all options for Alcon ranging from retention, sale, IPO to spinoff. The review concluded that a spinoff would be in the best interests of Novartis shareholders and the Board of Directors intends to seek shareholder approval for a spinoff at the 2019 AGM. This transaction would allow our shareholders to benefit from potential future successes of a more focused Novartis and a standalone Alcon, which would become a publicly traded global medtech leader based here in Switzerland.”

Novartis also announced that it will initiate a share buyback of up to USD 5 billion to be executed by the end of 2019.

First 3D Printed Human Corneas

A low cost technique of creating human corneas could be used to ensure an unlimited supply of transplants.

Ten million people worldwide require surgery to replace damaged or scarred corneas, but there remains a significant shortage of available transplants.

A paper published in Experimental Eye Research reports a method of creating “bio-ink”, a mixture of human corneal stroma cells (stem cells) from donor corneas, alginate and collagen.

Using a bio-printer (a 3D printer designed to create biomedical parts that imitate natural characteristics) researchers at Newcastle University extruded this corneal cell bio-ink into concentric circles to form the shape of a human cornea. The printing process is approximately 10 minutes, and the corneal cells then grow within this printed structure.

“Our unique gel keeps the stem cells alive whilst producing a material which is stiff enough to hold its shape but soft enough to be squeezed out the nozzle of a 3D printer,” says Che Connon, Professor of Tissue Engineering and co-author on the study. “Now we have a ready to use bio-ink containing stem cells allowing users to start printing tissues without having to worry about growing the cells separately.”

By measuring the dimensions of the patient’s eye and using that data in the printing process, the new cornea can match the exact size and shape needed for each patient.

Photo: Study co-authors Dr. Steve Swioklo and Prof Che Connon

More information: https://www.ncl.ac.uk/press/articles/latest/2018/05/first3dprintingofcorneas/

 

CNIB Welcomes New Federal Accessibility Legislation

CNIB applauds the Government of Canada for tabling historic accessibility legislation aimed at breaking down barriers for Canadians with disabilities. Bill C-81, known as the Accessible Canada Act​, will ensure more than 500,000 Canadians living with sight loss can fully participate and have equal opportunity within federally regulated jurisdictions. The federal government has committed $290 million over five years to implement this legislation.

CNIB especially supports the Act’s focus on increasing employment opportunities for persons with disabilities. Specifically, the federal government has committed to hiring at least 5,000 new employees with disabilities over the next five years, and to introduce a federal internship program. Additionally, Public Service and Procurement Canada will ensure all goods and services procured by the Government of Canada are accessible and will create an accessible procurement resource centre.

Diane Bergeron, CNIB’s vice president of engagement and international affairs, has been legally blind since age 10. She says this legislation is a great leap forward.

“Canada’s disability community has been waiting a long time for this,” said Bergeron. “I’m thrilled this legislation promotes and builds proactive compliance activities rather than forcing people with disabilities to bring forward barriers and discrimination.”

“Also, by establishing accessibility bodies where persons with disabilities are the in majority, there will be more of a focus on standards, regulations and practices being accessible at their creation,” she added.

With less than 12 months until Parliament is dissolved ahead of the next federal election, CNIB will be meeting with as many parliamentarians and senators to educate and ensure timely passage of this Bill.

“The last thing we want is for all of this hard work to go into this legislation, and for it to die on the Order Paper,” said Bergeron.

Click HERE to read the full press release.

Made in Italy: Leather-Wrapped Special Edition Sunglasses

The Nomad (RNB9001/S) from rag & bone is a unisex, round metal aviator featuring handmade, matte acetate rims hand-wrapped in supple Italian leather. The vintage-inspired triple bridge and iconic dagger-shaped temples are composed in metal. High-quality, offered in matte black with green, dark ruthenium military green with red lenses, gold/black with gold mirror lenses, and black/beige with gray lenses.

Distributed by Safilo: www.safilo.com

Luxottica Acquires Barberini

Luxottica Group announces the acquisition of Barberini S.p.A., the world’s leading optical glass sun lens manufacturer. This transaction is valued at approximately Euro 140 million.

Founded by Pietro Barberini in 1963, Barberini is a key manufacturer of high quality optical glass lenses for the most prestigious eyewear brands around the world, with exclusive and sophisticated technical features.

With annual net sales of approximately Euro 85 million, Barberini controls its entire manufacturing chain, from raw material to finished lenses, with cutting-edge industrial sites in Abruzzo (Italy), a plant in Germany for glass melting, and advanced technologies for the production of polarizing films for sun lenses.

The transaction is subject to customary closing conditions and is expected to be finalized by the third quarter 2018.

Click HERE for the full press release.

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