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Novartis announces that it will spin-off its ophthalmology division, Alcon, into a separately-traded standalone company in order to focus on its legacy pharmaceuticals business.
Alcon was a subsidiary of Novartis until April 2019, when it was spun out into a separate publicly traded company. [3] [4] Alcon itself has a number of subsidiaries, including Aerie Pharmaceuticals , focused on therapies for glaucoma and other diseases of the eye, and WaveLight, which develops and manufactures laser eye surgery technologies.
Alcon: At the time Novartis bought Alcon, they had annual sales of $6.5 billion and a net income of $2 billion. In April 2019, Novartis completed the spin-off of Alcon as a separate commercial entity. Sandoz: As of 2013, Sandoz has been recognized as the world's second-largest generic drug company.
The total cost to Novartis for the 77% stake in Alcon was $38.7 billion ($168 per share). In the deal's first phase, Novartis acquired a 25% stake in Alcon from Nestlé for $10.4 billion in July 2008.
Sandoz Group AG is a Swiss company that focuses on generic pharmaceuticals and biosimilars. [4] Prior to October 2023, it was part of a division of Novartis that was established in 2003, when Novartis united all of its generics businesses under the name Sandoz. Before this, the company existed as an independent pharmaceutical manufacturer until ...
Jim Cramer says leading drugmakers are innovating more than ever before and many of their stocks are worth owning.
Search for Tomorrow is an American television soap opera.It began its run on CBS on September 3, 1951, and concluded on NBC, 35 years later, on December 26, 1986.. Set in the fictional town of Henderson in an unspecified state, the show focuses primarily on the character of Joanne "Jo" Gardner, portrayed by Mary Stuart for the entire run of the series.
Novartis' eye care unit Alcon is withdrawing a surgical stent for glaucoma patients after clinical data showed it may damage the eye, but the Swiss drugmaker said the move would not affect plans ...