Alcon to go ahead with 100% spin-off from Novartis

Alcon

Alcon, a Novartis company, said it will today hold its first Capital Markets Day for investors and analysts in relation to the previously-announced intention of Novartis to execute a tax-neutral, 100% spinoff of the Alcon business.

If the transaction proceeds, shares in Alcon Inc. will be listed on the SIX Swiss Exchange (SIX) and the New York Stock Exchange (NYSE) under the ticker symbol “ALC”.

Chairman-designate, Mike Ball and CEO, David Endicott, will be joined by other senior management to discuss Alcon’s strengths and how the company is positioned to win in the large, attractive and growing eye care devices market, where it is already the global leader. They will present Alcon’s vision and strategy, near- and longer-term growth drivers, five-year financial goals and the benefits of Alcon as a standalone company.

Mike Ball, Chairman-designate of Alcon, said: “Alcon has been a leader in the ophthalmic industry for over 70 years and is dedicated to providing innovative products that enhance quality of life by helping people see better. More recently, Alcon has executed a turnaround plan that has reinvigorated its pipeline, strengthened its customer relationships, and increased investments in promotion, capital and systems while developing a nimble medical device culture. These actions have strengthened its foundation and positioned Alcon well to become a standalone company.”

David Endicott, CEO of Alcon, said: “As the leading eye care devices company in the world, with $6.8 billion in sales in 2017, we are uniquely positioned to succeed as a standalone organization. Our legacy of industry firsts and advancements, our leading positions in the markets we operate in and our substantial investment in innovation position us well for the future. We look forward to sharing our strategy, vision and financial goals with investors and analysts at our Capital Markets Day events.”

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