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Novartis Sees The Light And Plumps For Alcon Spin-Off

 
• By Kevin Grogan

Having acquired Alcon for an eye-watering $52bn seven years ago, the Swiss major has decided that spinning off the eyecare business which has finally returned to growth (but is worth about half what Novartis paid in 2011) makes the most sense as it becomes a company even more focused on pharma.

Spinning top
SPIN-OFF PLANS SET OUT FOR ALCOM • Source: shutterstock.com

Hot on the heels of divesting its stake in the GlaxoSmithKline PLC consumer joint venture, Novartis AG is to spin off its eye care unit Alcon Inc.. CEO Vas Narasimhan said the deal will help Novartis focus on becoming "a leading medicines company."

The Swiss company completed a strategic review that examined all options for Alcon ranging from retention, sale or spin-off and has now plumped for the latter. The board intends to...

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