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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. On April 9, 2019, Alcon completed a 100% spin-off from Novartis. The new standalone company is worth up to 28 billion Swiss francs.
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.
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.
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.
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 ...
ZURICH/LONDON (Reuters) -Novartis plans to spin off its underperforming generics unit Sandoz to sharpen its focus on its patented prescription medicines, the Swiss group said on Thursday ...
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Nestlé agreed to sell its controlling stake in Alcon to Novartis on 4 January 2010. The sale was to form part of a broader US$39.3 billion offer by Novartis for full acquisition of the world's largest eye-care company. On 1 March 2010, Nestlé concluded the purchase of Kraft Foods's North American frozen pizza business for US$3.7 billion.