Novartis completes purchase of Alcon stock
BASEL, Switzerland Novartis on Thursday announced that it has completed its purchase of Alcon stock from Nestle, resulting in 77% ownership of Alcon. This has been achieved by completing the acquisition of the remaining 52% of Alcon shares owned by Nestle for a total of $28.3 billion.
Alcon strategically complements Novartis’ business portfolio, the Swiss company stated, adding a platform in eye care to its pharmaceutical, generics, vaccines and diagnostics, and consumer health divisions. Alcon realized 2009 annual sales of $6.5 billion, operating income of $2.3 billion and net income of $2 billion.
The eye care sector offers further growth opportunities underpinned by the increasing unmet needs of emerging markets and an aging population. The Alcon and Novartis eye care portfolios address a broad range of these unmet needs, Novartis noted. The companies have complementary pharmaceutical portfolios for diseases in the front and back areas of the eye, as well as strong global brands in lens care.
“We are delighted to become majority owners of Alcon,” stated Joseph Jimenez, Novartis CEO. “Together, both companies can achieve their strategic priorities to deliver against patient needs through innovative and differentiated products.”
With the achievement of the 77% majority ownership, Novartis and Alcon will be able to pursue opportunities with Lucentis, the company noted, utilizing the companies’ complementary field forces around the potential launch of Lucentis for Diabetic Macular Edema. Other opportunities include optimization of lens care manufacturing and research collaborations.
LiceGuard makes appearance in ‘The Switch’
NEEDHAM, Mass. ARR Health Technologies scored a product placement for its LiceGuard products in the movie “The Switch,” starring Jennifer Aniston and Jason Bateman, which debuted Friday.
“The Switch” grossed $8.1 million at the box office over the weekend.
In the movie, Jason Bateman’s character is shown choosing LiceGuard SAFE lice egg remover shampoo to treat his child. There are several scenes where the product’s distinctive yellow cap can be seen, the company stated in a press released issued Tuesday.
“We are very pleased that the RobiComb and our SAFE lice remover shampoo were used in the movie ‘The Switch,'” stated Mark Stearns, VP business development for ARR Health Technologies. “It was important to the actors to show parents using a nontoxic lice treatment, and we are glad that LiceGuard was chosen from all the available options.”
Perrigo gets FDA approval to manufacture milk-based infant formulas
ALLEGAN, Mich. The Food and Drug Administration has given Perrigo the go-ahead to manufacture milk-based infant formulas through its partner, Saint-Claire, Quebec-based Kerry Proteins and Nutritionals, Perrigo said Wednesday.
The company received FDA clearance to market milk-based, ready-to-use and concentrate infant formulas with ARA and DHA in 8-oz. and 13-oz. bottles, and milk-based organic infant formula in 8-oz. bottles.
“We are excited to receive FDA clearance on these new liquid concentrate and ready-to-use products, and to expand our portfolio of nonpowder infant formula products,” Perrigo chairman and CEO Joseph Papa stated. “This is the first launch of new products since acquiring our infant nutrition business, and we look forward to further new product introductions.”