Novartis to spinoff Alcon
In the event that all approvals are secured, the planned spinoff is expected to be completed in the first half of 2019.
Colin Kerr
Published: Tuesday, July 3, 2018
Novartis has announced its intention to spinoff Alcon into a separately-traded standalone company.
Joerg Reinhardt, Chairman of Novartis, said: “Our strategic review examined all options for Alcon ranging from retention, sale, IPO to spinoff. The review concluded that a spinoff would be in the best interests of Novartis shareholders and the Board of Directors intends to seek shareholder approval for a spinoff at the 2019 AGM. This transaction would allow our shareholders to benefit from potential future successes of a more focused Novartis and a standalone Alcon, which would become a publicly traded global medtech leader based here in Switzerland.”
The successful completion of the planned spinoff is subject to general market conditions, regulatory approvals, final Board of Directors endorsement and shareholder approval. In the event that all approvals are secured, the planned spinoff is expected to be completed in the first half of 2019.
In addition to being incorporated in Switzerland, the intention would be to list shares of Alcon on the SIX Swiss Exchange and the New York Stock Exchange, said a Novartis spokesman.
Tags: novartis
Latest Articles
Towards a Unified IOL Classification
The new IOL functional classification needs a strong and unified effort from surgeons, societies, and industry.
The 5 Ws of Post-Presbyopic IOL Enhancement
Fine-tuning refractive outcomes to meet patient expectations.
AI Shows Promise for Meibography Grading
Study demonstrates accuracy in detecting abnormalities and subtle changes in meibomian glands.
Are There Differences Between Male and Female Eyes?
TOGA Session panel underlined the need for more studies on gender differences.
Simulating Laser Vision Correction Outcomes
Individualised planning models could reduce ectasia risk and improve outcomes.
Need to Know: Aberrations, Aberrometry, and Aberropia
Understanding the nomenclature and techniques.
When Is It Time to Remove a Phakic IOL?
Close monitoring of endothelial cell loss in phakic IOL patients and timely explantation may avoid surgical complications.
Delivering Uncompromising Cataract Care
Expert panel considers tips and tricks for cataracts and compromised corneas.
Organising for Success
Professional and personal goals drive practice ownership and operational choices.