Alcon Debuts as Independent, Publicly Traded Company
Alcon, the global leader in eye care dedicated to helping people see brilliantly, today announced its debut as an independent, publicly traded company and the completion of its separation from Novartis. The company’s shares begin trading today on the SIX Swiss Exchange and New York Stock Exchange (NYSE) under the symbol “ALC.”
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190408005854/en/
Alcon has one of the most complete portfolios in the ophthalmic device industry comprised of Surgical and Vision Care products. (Photo: Business Wire)
Alcon is the largest eye care device company in the world, with complementary businesses in Surgical and Vision Care. The company has a global presence in 74 countries and serves patients in more than 140, with fast-growing businesses in emerging markets. Alcon has the widest array of eye care offerings in the industry with products that can treat eye disorders at each stage of life.
“For more than 70 years, Alcon has been dedicated to helping people see brilliantly and now, as an independent company, we are pursuing even more opportunities to further that mission,” said David Endicott, Chief Executive Officer of Alcon. “We are poised to achieve sustainable growth and create long-term shareholder value as a standalone company. We have a long history of industry firsts and, as a nimble medical device company, we are sharply focused on providing innovative products that meet the needs of our customers, patients and consumers.”
Eye care is an approximately $23 billion a year market, growing at roughly 4 percent annually. Last year, Alcon had sales of $7.1 billion, including $4.0 billion in Surgical – up 7 percent from the prior year – and $3.1 billion in Vision Care – up 3 percent.
Under the terms of the separation, each Novartis shareholder or ADR (American Depositary Receipt) holder will receive one Alcon share for every five Novartis shares or ADRs they held as of the close of business on April 1, 2019, the record date for the distribution.
As an independent company, Alcon will have more focus and flexibility in pursuing its own growth strategy driven by rapid iterative innovation. The company will have a distinct investment identity with a more efficient capital structure that will allow it to expand markets, enter promising adjacencies and introduce new business models. These benefits, combined with Alcon’s industry-leading customer relationships, favorably position the company to achieve sustainable growth.
Alcon is headquartered in Geneva. The company has maintained a presence in Switzerland for more than 40 years and it is where the company was incorporated prior to the Novartis acquisition. Alcon’s facilities in Fort Worth, Texas, will remain a major operational center and innovation hub with a large base of employees.
Alcon will continue its substantial Corporate Giving efforts, which in 2018 included $62 million in monetary and product donations. Through its charitable organizations, the Alcon Foundation and Alcon Cares, Alcon partners with hundreds of charitable organizations to help increase access to eye care, providing sight-restoring surgeries, eye exams and other services to people in underserved communities around the world. Alcon also sponsors hands-on and virtual eye care provider training and skills-transfer to strengthen the level of care, and supports its communities through charitable donations and associate volunteerism.
Members of the company’s executive leadership team, Board of Directors and Alcon associates will celebrate the milestone by ringing the opening bell at the SIX and NYSE today, April 9.
Endicott continued: “Demand for eye care is growing significantly as our population ages and people spend more time in front of screens and mobile devices. As we mark this new chapter in the life of our company, all of us at Alcon are committed to addressing the growing consumer need for improved vision and eye health and to expanding access to quality eye care all around the world.”
The company launched a new global website that can be found at www.alcon.com.
This announcement contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 that can generally be identified by words such as “commitment,” “may,” “look forward,” “estimates,” “projected,” “will,” “potential,” “anticipate,” “intend,” “plan,” “seek,” “believe,” “expect,” “intention,” “should,” “maintaining” or similar expressions, or by express or implied discussions regarding the potential outcome, or financial or other impact on Alcon or any of its businesses of the separation and spin-off from Novartis; or regarding potential future sales or earnings of Alcon or any of its businesses or potential shareholder returns; or by discussions of strategy, plans, expectations or intentions. You should not place undue reliance on these statements.
Such forward-looking statements are based on the current beliefs and expectations of management regarding future events, and are subject to significant known and unknown risks and uncertainties. There can be no guarantee that Alcon will be able to realize any of the potential strategic benefits or opportunities as a result of the separation and spin-off. Nor can there be any guarantee that shareholders will achieve any particular level of shareholder returns. Nor can there be any guarantee that Alcon, or any of its businesses, will be commercially successful in the future, or achieve any particular credit rating or financial results. Nor can we guarantee the separation and spin-off will be successful.
In particular, our expectations could be affected by, among other things: uncertainties regarding the success of our separation and spin-off from Novartis, including our ability to establish the infrastructure needed to operate as a standalone company without significant management distraction or business disruption; and general political, economic and trade conditions, including uncertainties regarding the effects of ongoing instability in various parts of the world.
Some of these factors are discussed in more detail in Alcon’s filings with the United States Securities and Exchange Commission, including its Form 20-F, particularly under “Item 3. Key Information—3.D. Risk Factors”, “Item 4. Information on the Company” and “Item 5. Operating and Financial Review and Prospects”. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. The statements in this announcement are as of the date of its filing. We do not intend, and do not assume any obligation, to update any information or forward-looking statements set out in this announcement as a result of new information, future events or otherwise.
Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning more than seven decades, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 20,000 associates are enhancing the quality of life through innovative products, partnerships with eye care professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.
+ 41 589 112 110 (Geneva)
+ 1 817 615 2789 (Fort Worth)
+ 41 589 112 111 (Geneva)
+ 1 817 551 8057 (Fort Worth)
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Nordson EFD Introduces the Contact versus Jet Dispensing White Paper25.4.2019 12:16:00 CEST | Pressemelding
Nordson EFD , a Nordson company (NASDAQ: NDSN), the world’s leading precision fluid dispensing systems manufacturer, is pleased to introduce its Contact vs. Jet Dispensing white paper. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190425005027/en/ As products continue to get smaller and smaller, Nordson EFD has developed new solutions to address this growing need to apply precise, repeatable micro-deposits of assembly fluids in production processes worldwide. “We understand the challenges manufacturers face when their process requires bonding tiny substrates and components together,” said Peter Langer, Business Unit Director of Valves at Nordson EFD. “The deposit tolerance requirements are considerable. And there are a number of variables to consider in order to choose the right dispensing method.” This white paper helps manufacturers understand the difference between two of the most common dispensing methods. Contact dispe
Hologic Launches Trident® HD Specimen Radiography System in United States, Canada and Europe25.4.2019 12:15:00 CEST | Pressemelding
Hologic, Inc. (Nasdaq: HOLX) today announced global commercial availability of the Trident® HD specimen radiography system, a next-generation solution that delivers enhanced image quality, improved workflow and instant sample verification during breast-conserving surgeries and stereotactic breast biopsies.1 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190425005180/en/ Trident® HD Specimen Radiography System (Photo: Business Wire) The Trident products are the only specimen radiographs on the market to use amorphous selenium direct capture imaging – the same detector technology used in Hologic’s 3Dimensions™ mammography system – to generate crisp, clear, high-resolution images. The new Trident HD system, which recently received FDA clearance in the US and a CE Mark in Europe, also features a bigger detector that allows for complete imaging of larger breast surgical specimens, along with a wide range of surgical and biopsy sa
Velodyne Lidar, Nikon Announce Manufacturing Agreement for Mass Production of Velodyne Lidar Sensors25.4.2019 12:00:00 CEST | Pressemelding
Velodyne Lidar, Inc. today announced an agreement with Nikon Corporation, under which Sendai Nikon Corporation, a Nikon subsidiary, will manufacture lidar sensors for Velodyne with plans to start mass production in the second half of 2019. The partnership cements Velodyne’s manufacturing plan and expands its lead in the global lidar sensor market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190425005236/en/ Velodyne provides the smartest, most powerful lidar solutions for vehicle autonomy and driver assistance. (Photo: Business Wire) “Mass production of our high-performance lidar sensors is key to advancing Velodyne’s immediate plans to expand sales in North America, Europe, and Asia,” said Marta Hall, President and CBDO, Velodyne Lidar. “With this partnership, Velodyne affirms its leadership role in designing, producing, and selling lidar for worldwide implementation. For years, Velodyne has been perfecting lidar technol
Gilead Announces Topline Data From Phase 3 STELLAR-3 Study of Selonsertib in Bridging Fibrosis (F3) Due to Nonalcoholic Steatohepatitis (NASH)25.4.2019 12:00:00 CEST | Pressemelding
Gilead Sciences, Inc. (Nasdaq: GILD) today announced that STELLAR-3, a Phase 3, randomized, double-blind, placebo-controlled study evaluating the safety and efficacy of selonsertib, an investigational, once daily, oral inhibitor of apoptosis signal-regulating kinase 1 (ASK1), for patients with bridging fibrosis (F3) due to nonalcoholic steatohepatitis (NASH), did not meet the pre-specified week 48 primary endpoint of a ≥ 1-stage histologic improvement in fibrosis without worsening of NASH. In the study of 802 enrolled and dosed patients, 9.3 percent of patients treated with selonsertib 18 mg (p=0.42 versus placebo) and 12.1 percent of patients treated with selonsertib 6 mg (p=0.93) achieved a ≥ 1-stage improvement in fibrosis according to the NASH Clinical Research Network (CRN) classification without worsening of NASH after 48 weeks of treatment, versus 13.2 percent with placebo. Selonsertib was generally well tolerated and safety results were consistent with prior studies. “While we
Forter Readies Merchants with Launch of PSD2-Compliant Solution25.4.2019 11:25:00 CEST | Pressemelding
Forter, the leading e-commerce fraud prevention company, today launches its PSD2-compliant merchant offering, Forter PSD2 Solution for Merchants . The comprehensive, payment processor-agnostic solution enables merchants to dynamically route customers to the path of least friction required, prevent all types of fraud and violations of business policies, and optimise the customer’s payment experience – all while meeting full PSD2 compliance. As of 14 September 2019, the revised Payment Services Directive (PSD2) introduces the requirement for merchants to authenticate online transactions within the European Economic Area using Strong Customer Authentication (SCA). Under SCA, merchants have to introduce additional friction into the purchasing process for customers, which will lead to increased drop-off rates, reduce overall conversion rates, and provide a poor customer experience. These changes could ultimately hurt revenue, so merchants must mitigate these challenges and minimise the impa
The Smarter E Europe – Explore Sector Coupling for Yourself at Europe’s Largest Platform for the Energy Industry25.4.2019 09:53:00 CEST | Pressemelding
The innovation hub The smarter E Europe, encompassing the exhibitions Intersolar Europe, ees Europe, Power2Drive Europe and EM-Power, was launched in 2018 and has seen impressive growth ever since. It will be held for the second time from May 15–17, 2019 at Messe München and will now cover 10 exhibition halls, making it Europe’s largest energy industry event. This growth is due in large part to the upward trend in renewable energies. Since 2010, the proportion of energy generated worldwide from renewable sources has risen from 20 to 25 percent. By 2030, we’re looking at a jump to around 60 percent. In Germany, an average of 45 percent of all electricity generated already came from renewables in the first quarter of 2019. This dynamism is stimulating innovation and shaping the modern energy industry. The buzzword of the hour is sector coupling – a unification of the previously independent electricity, heating and transportation sectors. For instance, a photovoltaic (PV) installation in