Novartis spinning off alcon

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Each holder received one Alcon share for every five Novartis shares or ADRs held on April 8, , at the close of business. Shares in Alcon, Inc. Novartis announced its plans to spin off the eye care devices business in March Execution of the spin-off allows Novartis to fully focus its capital allocation and management attention on medicines and gives the pharma major a financial profile closer to its pharmaceutical industry peers, including higher group margins.

Novartis plans to improve core margins for its innovative medicines into the mids by Alcon has demonstrated consistent growth and is coming to market from a position of strength. We wish them the very best for the future. At Novartis, we continue to reimagine ourselves as a leading medicines company powered by breakthrough medicines, data science, and advanced therapy platforms.

We are well positioned for the future and I am excited for our associates, our investors, and most importantly for patients," said Vas Narasimhan, CEO of Novartis, in a company press release. We have a long history of industry firsts and, as a nimble medical device company, we are sharply focused on providing innovative products that meet the needs of our customers, patients and consumers. Novartis shareholders will receive one Alcon share for every five Novartis shares they held as of April 1, , under the terms of the agreement.

Alcon headquarters are in Geneva , with a major operational center and innovation hub remaining in Fort Worth, Texas. At Novartis, we continue to reimagine ourselves as a leading medicines company powered by breakthrough medicines, data science and advanced therapy platforms.

We are well positioned for the future, and I am excited for our associates, our investors and most importantly for patients. As an independent company, Alcon will have the ability to pursue its own growth strategy and a more efficient capital structure allowing it to expand markets, the Alcon release said.

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Alcon says its facilities in Fort Worth, Texas will remain a major operational center and innovation hub with a large base of employees.

Novartis had acquired Alcon in , with the business at that time including surgical and vision-care products and ophthalmic pharmaceuticals. The ophthalmology pharmaceuticals business will continue to be part of Novartis. In October , the company announced that certain over-the-counter and diagnostic ophthalmic products would be moved from the Innovative Medicines Division to the Alcon Division, effective January 1, Pharmaceuticals remain the core competency of Novartis.

The company says it expects 10 potential blockbuster launches in the next two years and an additional 20 potential blockbusters on the horizon. Of these potential blockbuster launches, four are planned in , including brolucizumab, which is part of the ophthalmology pharmaceuticals business retained by Novartis.

In announcing the completion of the spin-off, Novartis reiterated its intention to continue paying a strong and growing annual dividend up from the CHF 2. Source: Novartis and Alcon.

Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. By Patricia Van Arnum. We continue to advise companies to conduct industry focused target screening, valuations, and due diligence, supplement the financial focused team with industry experts who can investigate in the right areas, and provide realistic estimates to the deal before striking the purchase. A private equity firm looking to acquire a line of business from a large consumer products company tapped Clarkston to In this commercial due diligence case study, we explore a recent project with a leading logistics services provider looking to We recently partnered with a leading consumer products manufacturer focused on household products on a complex acquisition integration.

Successful acquisition Skip to content Clarkston Consulting. View All Industries. More Insights More Case Studies More Webinars Sebastian Valencia. So, the question remains, was the Alcon acquisition a good deal for Novartis investors? Co-authors and contributions by Stephen Moulton and Evan Shirley. Subscribe to Clarkston's Insights.

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