Novartis pays £8bn for rest of US’ Alcon

first_imgNovartis’ move completes the final stage of a lengthy process to get full control of the eyecare group, known for its contact lens solutions, and the dominant player in the multibillion-dollar market of intraocular lenses, small lenses implanted in the eye to correct problems focusing.Alcon is also number one in cataracts – an area that is set to benefit from ageing populations.Novartis also said it was restarting a SwFr10bn (£6.59bn) share buyback programme, suspended in April 2008, to minimise dilution to Novartis shareholders.Novartis’ decision to restart its share buyback is part of a growing trend among European drug firms to return cash to investors. Novartis pays £8bn for rest of US’ Alcon KCS-content Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Wednesday 15 December 2010 7:45 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBetterBe20 Stunning Female AthletesBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmFinancialAdvisorHeroesSean Hannity New Girlfriend Might Look Familiar To YouFinancialAdvisorHeroesArticles StoneLittle Boy Brings $2 Painting To Antiques Road Show, Not Realizing Its WorthArticles StoneAdventure CrunchHere Are the Most Famous Pro Wrestlers From the Past TodayAdventure Crunch Tags: NULL whatsapp NOVARTIS has wrapped up its long-awaited buyout of the remainder of US-listed Alcon for $12.9bn (£8.25bn), after sweetening its original offer with cash.The Swiss drugmaker is hoping the deal with its rival, worth some $52bn in total, will help it diversify and protect it against patent loss on big selling medicines such as blood pressure drug Diovan.Novartis has been trying to clinch 100 per cent ownership in Alcon since the start of the year, but its original all-paper offer of 2.8 Novartis shares for each Alcon share met stiff resistance from Alcon’s directors, who repeatedly dismissed it as “grossly inadequate”. Show Comments ▼ whatsapplast_img read more