Novartis to spin off Alcon, will buy back US$5 billion in shares

Novartis to spin off Alcon, will buy back US$5 billion in shares


Novartis unveiled its long-expected plan to spin off all of its Alcon eye care devices business and launch a share buyback of up to US$5 billion as the company sharpens its focus on prescription drugs, it said on Friday. FILE PHOTO: Swiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017.



from Biotech News