Adios To Alcon In April As Novartis Confirms Spin-Off Date
With the eye-care business set for its own stock exchange listings next month and the future of Sandoz the subject of much discussion, Novartis' plan to be a pure play pharma firm moves ever closer.
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With the $770m acquisition, Alcon will gain two commercial eye drop products for glaucoma and a Phase III candidate for dry eye.
Over two decades since it first invested in its rival from across Basel, Novartis is selling back more than 50 million shares to Roche and banking billions of dollars that will likely be used for bolt-on acquisitions.
The company agreed to pay $233.9m to the US Department of Justice and $112m to the Securities and Exchange Commission to settle foreign bribery charges tied to South Korea, Vietnam and Greece.