Novartis buys into eye care specialist
Swiss pharmaceutical giant Novartis has finalised the purchase of a 25 per cent stake of eye care company Alcon for $10.4 billion (SFr10.64 billion) in cash from Nestlé.
The drugmaker said in a statement on Tuesday that the price was $200 million less than previously announced, due to a dividend payment.
The purchase is the first step in Novartis' agreement to acquire a majority stake in American firm Alcon from Swiss food multinational Nestlé. The deal was announced in April.
Novartis has the right to buy - and Nestlé the right to sell – a further 52 per cent stake in Alcon, for a price of not more than $28 billion. The pharmaceutical company is already active in the eye care business with its Ciba Vision unit.
Fort Worth-based Alcon employs 14,500 people in 75 countries. After the Novartis buyout, it will remain an independent company.
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at firstname.lastname@example.org.