Novartis Announces Spin-Off of Alcon Eye Care Business on April 9, 2019

 Novartis Announces Spin-Off of Alcon Eye Care Business on April 9, 2019

Novartis Announces Spin-Off of Alcon Eye Care Business on April 9, 2019

Shots:

  • Novartis plans spin-off of its eye care business with an expected 100% spin-off on Apr 9, 2019 and has secured debt financing of $3.5B through banks
  • Novartis stockholder to receive Alcon share for every 5 Novartis shares/ADRs prior to the closing of trade on Apr 8, 2019 and will be listed on SIX and the NYSE under the ticker ALC
  • In 2011, Novartis acquired Alcon stake from Nestle for $39B to expand its ophthalmology portfolio. Novartis initially acquired only 25% of Alcon’s share for $11B and later acquired remaining shares for $28B

Click here to read full press release/ article | Ref: Exscientia | Image: Endpoints News

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Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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