HEALTH

Novartis completes purchase of Alcon stock

BY Michael Johnsen

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.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?
HEALTH

Bazi International unveils energy shot

BY Michael Johnsen

DENVER Bazi International, formerly known as XELR8 Holdings, on Tuesday announced the official launch of its Bazi energy shot.

“Unlike other energy shots that overload the body with excessive caffeine, sugar, B vitamins, taurine and other artificial stimulants, Bazi combines nature’s finest ingredients for increased energy and better performance,” stated Kevin Sherman, the company’s president and CEO.

Bazi features a fruit-based formula that support long term health, increased energy and immunity support. The blend of superfruits includes jujube, blueberry, pomegranate, goji, mangosteen, raspberry, acai and seabuckthorn.

Bazi sells single shots at a suggested retail price of $2.99, and in packs of six and 12, at $17.99 and $28.99, respectively.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?
HEALTH

Perrigo gets FDA approval to manufacture milk-based infant formulas

BY Alaric DeArment

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.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?