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The stock is traded under the ticker symbol ALC. In July 2008, Novartis purchased approximately 25% of Nestlé's stake in Alcon, with an option to buy Nestlé's remaining shares beginning in 2010. [11] Novartis bought 52% stake from Nestlé for $28.1 Billion. This deal brought the total ownership of Alcon by Novartis to 77%.
On 9 April 2019, Novartis announced that it had completed the spin-off of Alcon as a separate commercial entity. Alcon was listed on the SIX exchange in Switzerland and NYSE exchange in the U.S. [73] Novartis announced during late 2019 a five-year artificial intelligence "alliance" with Microsoft.
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.
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.
On October 19, 2011, Abbott Laboratories announced its plan to separate into two publicly traded companies, spinning off its research-based pharmaceutical manufacturer division. [7] This spin-off company, named AbbVie, was formed on April 10, 2012. [8] The separation was fully effective January 1, 2013, and AbbVie was officially listed on the New York Stock Exchange (ABBV) on January 2, 2013 ...
Novartis (NVS) intends to spin off its Alcon eye care division. The CHMP gives positive opinion recommending marketing approval to several drugs. Pharma Stock Roundup: NVS to Divest Eye Care Unit ...
Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Green Oaks, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products.
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.