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Novartis plans to spin off its Alcon eye care business to shareholders and buy back up to $5 billion in stock as Chief Executive Vas Narasimhan refocuses the Swiss group on prescription drugs ...
On July 8, 2010, Alcon's independent director committee (IDC) had set up a $50 million litigation trust to ensure company's minority shareholders get the best deal from bidder Novartis AG. [15] On April 9, 2019, Alcon completed a 100% spin-off from Novartis. [4] [16] [17] The new standalone company is worth up to 28 billion Swiss francs. [18]
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. It is ranked sixth on the list of largest biomedical companies by revenue. In 2023, the company's seat in Forbes Global 2000 was 74, [2] and rank 89 on the 2024 list. [3] The company's primary product is Humira (adalimumab) ($14 billion in 2023 revenues ...
Alcon: At the time Novartis bought Alcon, they had annual sales of $6.5 billion and a net income of $2 billion. [128] In April 2019, Novartis completed the spin-off of Alcon as a separate commercial entity. [73] Sandoz: As of 2013, Sandoz has been recognized as the world's second-largest generic drug company.
The debut made Sandoz the largest new entrant to the Swiss stock exchange since 2019, when another Novartis spin-off, eyecare company Alcon, was valued at about 28 billion francs.
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As part of his strategy, Narasimhan has divested the joint consumer healthcare venture to GSK, [24] the spin-off of Alcon, [25] and the exit of a stake in Roche [26] [20] as well as pushed for the acquisition of Advanced Accelerator Applications, Endocyte, AveXis, and The Medicines Company. [27] [28] [29]
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