Alcon and novartis merger

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Novartis says the two firms already have complementary portfolios of eye-disease drugs, and full ownership of Alcon will allow it to establish a fifth growth platform as part of its healthcare portfolio. On completion of the merger Alcon will become the second largest division within Novartis. Buehler will head the new Alcon division within Novartis if the deal receives final ratification. The firm projects a regulatory filing date for candidate AIN as a treatment for noninfectious uveitis.

Its late clinic-stage and registrational pharmaceutical pipeline includes anti-infectives and treatments for glaucoma and dry eye. Log in to leave a comment.

Sign in. Forgot your password? Get help. Privacy Policy. Password recovery. N advised the Novartis side. Shares in Nestle ended 1 percent higher at Novartis said it currently had no plans for another major acquisition, but did not exclude making smaller buys. Novartis said it would finance the purchase of the first stake in Alcon from its cash reserves and external short-term financing.

It would finance the possible purchase of the second stake from cash and further borrowing. PA before For related news and company statements click on NOVN. Business News Updated. By Sam Cage 5 Min Read. Novartis highlights big pharma diversity drive. Nestle eyes big takeovers in health food push.

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Upon completion of the merger, Alcon will become the second largest division within Novartis. The company expects the merger to: increase commercial capability to accelerate sales growth and support for its customers; expand ability to develop innovative eye-care products that reach the market faster and provide greater patient and market access to advanced technologies; enhance product development and branding opportunities in contact lenses and solutions; and provide cost efficiencies that can be reinvested in research and other growth opportunities.

The merger will be effected under Swiss merger law. Completion is conditional, among other things, on two-thirds approval by the shareholders of both Novartis and Alcon voting at their respective meetings, and the registration and listing of Novartis shares on the Swiss Exchange and New York Stock Exchange. Acupuncture could become an alternative to patching for treating amblyopia in some older children, according to a report in the December Archives of Ophthalmology.

About one-third to one-half of the cases of amblyopia are caused by anisometropia. Correcting these refractive errors with glasses or contact lenses has been shown to be effective in children age 3 to 7 years, but among older children age 7 to 12, only 30 percent respond to visual correction alone.

Patching increases this response rate to two-thirds, but some patients may not comply and those who do may experience emotional problems or reverse amblyopia, the authors note. Jianhao Zhao, MD, of Joint Shantou International Eye Center of Shantou University and Chinese University of Hong Kong, Shantou, China, and colleagues compared acupuncture—which has also been used to treat dry eye and myopia—to patching in a randomized controlled trial involving 88 children.

Of these children, 43 were randomly assigned to the acupuncture group and received five treatments per week targeting five acupoints, or needle insertion sites.

The remaining 45 children had their good eye patched for two hours a day and were instructed to do at least one hour of near-vision activities with the lazy eye, such as reading or typing. After 15 weeks, visual acuity improved by about 1. An improvement of two lines or more occurred in 28 Lazy eye was considered resolved in Both treatments were well-tolerated; children had no problems complying with either therapy, and no serious adverse effects were found in either group.

Targeting vision-related acupoints may change the activity of the visual cortex, the part of the brain that receives data from the eyes. It may also increase blood flow to the eye and surrounding structures as well as stimulate the generation of compounds that support the growth of retinal nerves, they note.

Differences exist among acupuncturists, and there are divergent manipulation modes, stimulation parameters, treatment styles and subjective sensations evoked by acupuncture stimulation. Because of the good results obtained in our study, the acupoints that we used could be considered for use in clinical practice.

The report appeared in the Dec. These cells could make a significant contribution to assessing the intensity of light and supporting vision even in people with advanced retinal degeneration, the researchers say. For the greater part of years, it was thought that the ability to convert light into electrical signals in the mammalian retina was restricted to rods and cones. This view changed dramatically when Dr. The board also received a separate fairness opinion rendered by Lazard in connection with the transaction.

After considering these items and other appropriate information and factors, the Alcon board approved the merger proposal. Upon completion of the merger, Alcon will become the second largest division within Novartis. The merger of the two organizations is expected to yield a number of benefits to the company and its customers, including:.

The combined company also will be even better positioned to capture growth and market share in all geographic markets, especially in emerging markets where there is high growth potential. This will allow for an expanded commitment to research and development activities in eye care with the goal of increasing new product discovery and development productivity to generate differentiated products to sustain and accelerate growth.

This will mean more new products for eye care professionals and their patients and increased opportunities for market penetration in key market segments. After the merger, the company will be able to capitalize on commercial opportunities to develop and brand contact lenses collaboratively with contact lens solutions in order to capture new patients and increase the number of patients that use contact lenses to correct their vision.

We strongly believe this agreement is in the best interest of Alcon and its shareholders and we are delighted to recommend this negotiated transaction to the Alcon board of directors. The merger will be effected under Swiss merger law. Completion is conditional, among other things, on two-thirds approval by the shareholders of both Novartis and Alcon voting at their respective meetings, and the registration and listing of Novartis shares on the SIX Swiss Exchange and American Depository Shares on the New York Stock Exchange to be issued as merger consideration.

The merger is expected to be completed during the first half of

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The exact exchange ratio and cash contingent value amount will be calculated based upon formulas set forth in the merger agreement. The board also received a separate fairness opinion rendered by Lazard in connection with the transaction.

After considering these items and other appropriate information and factors, the Alcon board approved the merger proposal. Upon completion of the merger, Alcon will become the second largest division within Novartis. The merger of the two organizations is expected to yield a number of benefits to the company and its customers, including:.

The combined company also will be even better positioned to capture growth and market share in all geographic markets, especially in emerging markets where there is high growth potential. This will allow for an expanded commitment to research and development activities in eye care with the goal of increasing new product discovery and development productivity to generate differentiated products to sustain and accelerate growth.

This will mean more new products for eye care professionals and their patients and increased opportunities for market penetration in key market segments. After the merger, the company will be able to capitalize on commercial opportunities to develop and brand contact lenses collaboratively with contact lens solutions in order to capture new patients and increase the number of patients that use contact lenses to correct their vision. We strongly believe this agreement is in the best interest of Alcon and its shareholders and we are delighted to recommend this negotiated transaction to the Alcon board of directors.

The merger will be effected under Swiss merger law. Completion is conditional, among other things, on two-thirds approval by the shareholders of both Novartis and Alcon voting at their respective meetings, and the registration and listing of Novartis shares on the SIX Swiss Exchange and American Depository Shares on the New York Stock Exchange to be issued as merger consideration.

We qualify all of our forward-looking statements by these cautionary statements. Except to the extent required under the federal securities laws and the rules and regulations promulgated by the Securities and Exchange Commission, we undertake no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information or future events or circumstances or otherwise. Advanced search. Forgot password?

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