Novartis buys remainder of Alcon for 12.9 billion dollars

15th December 2010, Comments 0 comments

Swiss pharma giant Novartis said Wednesday it had acquired the outstanding shares it did not already own in Alcon, the world's biggest eye-care company, for 12.9 billion dollars.

Novartis said shareholders in the US firm would get 2.8 Novartis shares and 168 dollars in cash under an accord, giving it full control.

It said the deal means Novartis was now the world leader in the eye-care sector, a key market as the world population ages.

In 2008, Novartis reached a deal to buy Nestle's 77 percent stake in Alcon, committing then to make an offer for the outstanding shares once that accord was completed.

© 2010 AFP

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