Speculation Novartis could sell its ailing eye care unit

14 November 2016

Swiss pharma giant Novartis’ (NOCN: VX) chairman Joerg Reinhardt said at the weekend that the firm’s eye care business Alcon's woes have intensified soul-searching over the unit's future.

"All options are open in the future," Chairman Joerg Reinhardt said in an interview in Swiss weekly SonntagsZeitung, adding: “In the long run, the question arises as to whether we are the best owner for Alcon."

Novartis' former chief executive, Daniel Vasella, oversaw the $52 billion takeover of Alcon from Swiss packaged food giant Nestle, which was completed in 2010 as part of his empire-building. Alcon’s net sales were $1.4 billion (-2%, -3% cc) in the third quarter of this year.

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