Saturday, December 5, 2015
Novartis Considers Selling Alcon
"Novartis ($NVS) is mulling a sale of its contact lens care business as the company faces sluggish growth for its Alcon unit and targets eye care innovation to swing its numbers northward," states a post from Fierce Medical Devices. "The proposed sale is still in early stages and Novartis might decide not to go through with a sale, people familiar with the matter told Bloomberg. But if the Swiss company does unload the business, which includes products to clean lenses, it could bring in $1.6 billion, Kepler Cheuvreux analyst Fabian Wenner told the news outlet. Some analysts set that number lower, though, with Safra Sarasin analysts saying the sale would fetch no more than $1 billion. A sale would come at a critical moment for Novartis, as it deals with slumping numbers for its contact care business and Alcon unit." Read more.