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...Analyst estimates for Sandoz’s potential market capitalisation range from $18bn to $25bn, which would be slightly smaller than eyecare business Alcon, which Novartis spun off in 2019 and listed at a valuation...
...In 2019, the group spun off its Alcon eye-care unit. Narasimhan said on Thursday that it was “better to separate them [Sandoz and Novartis] in a clean and efficient way”....
...Alcon’s managers, however, have complained of neglect and a lack of investment in innovation. True, Alcon inherits $3.5bn in debt, which will curb capital spending initially....
...Verily’s endeavour with Novartis’ Alcon to create a contact lens that measures glucose levels for diabetics, for instance, was paused after it could not achieve consistent measurements....
...He suggested that Novartis would first complete the Alcon spin off, due to take place in the first half of this year, “and then after that we’ll turn our attention to Sandoz”....
...Alcon was acquired from Nestlé for $50bn in a deal completed in 2010....
...Back in 2010, the company decided to buy eyecare group Alcon. Markets could not see the point. Novartis has a new chief executive, Vasant Narasimhan. He will spin off most of Alcon next year....
...Operationally, we drove solid growth across all financial metrics, strong performance across our key growth brands, and continued Alcon's strong recovery....
...taking the helm in February, Vas Narasimhan has moved quickly to reshape the company, selling its 36.5 per cent stake in a consumer joint venture with GlaxoSmithKline and announcing plans to spin off its Alcon...
...Novartis acquired Alcon from Nestlé for $50bn in a deal completed in 2010....
...Novartis has already announced plans to spin off and list its under-performing Alcon eyecare business, which could be worth more than $25bn, but has delayed any move until 2019....
...Joe Jimenez, chief executive, promised an “update” on Alcon’s future by the end of the year....
...Still, Alcon is the problem that sticks out....
...Novartis is in the process of reviewing what to do with Alcon, the troublesome eyecare business it bought for $51bn in 2010....
...Full-year net sales at Alcon were down 2 per cent at constant currencies, to $5.8bn....
...Just look at Novartis’s own acquisition of Alcon; the eyewear unit has never really justified its $52bn price tag, and Novartis is considering a separate listing for the division....
...(The company says it is “reviewing strategic options for the Alcon division to maximise shareholder value”.)...
...Meanwhile, Novartis chairman Joerg Reinhardt told a Swiss paper at the weekend that the company could look to sell its struggling Alcon eye care division, which it acquired through a series of deals worth...
...Chief executive Joe Jimenez said: As expected, our results reflect additional investments behind our new launches and Alcon....
...The company announced a restructuring of its struggling Alcon eyecare business in January....
...Total pharmaceuticals revenues were down 3 per cent at $7.7bn; Alcon was 7 per cent lower at $1.4bn, and the Sandoz generic drugs unit was flat at $2.4bn....
...The problems at Alcon and the slow launch of Entresto . . . mean the company is fully exposed to the Gleevec [Glivec] patent expiry.”...
...He is likely to trumpet progress towards cutting costs and restructuring Alcon when the group announces first-quarter results on Thursday....
...In 2014, the group established the Alcon eyecare businesses as one of its main divisions following a restructuring, but it has suffered from lacklustre sales in emerging markets....
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