Novartis to buy the majority of shares in leading eye care company - Alcon


For 65 years Alcon has provided the eye care industry with a vast array of resources; including surgical equipment, treatments for various diseases and so on. The company made over £4 billion in 2008 alone, selling worldwide in 75 different countries. However, Switzerland eye care company Novartis are steps away from completing their purchase of the majority stake in Alcon from the food group Nestlé.

This all began back in April of 2008 when both Novartis and Nestlé agreed to transact Nestlé’s 77% stake in Alcon to Novartis. Today, 4th January 2010, brings the conclusion of this 2008 agreement as Novartis begin to take control over the further 52% that they didn’t obtain back in 2008. It is hoped that by mid-2010 this deal is to be completed.

So what does this mean for the eye care industry? Both Alcon and Novartis cover different sectors of the eye care industry whilst offering competitive areas too, therefore together it is hoped that people needing eye treatments worldwide will benefit profusely from the merging of the two. Together the two companies will cover 70% of vision care worldwide, hopefully complementing, expanding and improving the eye care industry. For example, until now Novartis has been delving into research and actions in improving contact lenses, which is something Alcon hasn’t been active in. Whereas Alcon has been incredibly active in offering over-the-counter treatments, e.g. dry eye drops, to their patients.

Thus, in a time when people appear to be forgetting to look after their eyes, and unconcerned about their lack of eye examinations, perhaps the mergence of these two leading eye care companies will improve the eye care system and offer better treatment to anyone with vision problems.

4th January 2010

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