Novartis and Alcon - Billion-dollar deals

Who: Novartis
With: Alcon
What: $39B buyout

Scoop: Diversification was the name of the game as Novartis pledged $39 billion for the eye care company Alcon. Novartis bought a 25 percent stake in Alcon and could purchase another 52 percent in 2010. CEO Daniel Vasella said the purchase was a good fit and that the eye care market is growing as the population ages. Additionally, he observed, there's a lack of pricing pressure on eye products. While insurers and the government are twisting drugmakers' arms for discounts, consumers usually pay out of pocket for the kind of eye-care products Alcon sells.

Novartis and Alcon - Billion-dollar deals

Suggested Articles

Eli Lilly is combining the oncology team at Lilly Research Laboratories with Loxo Oncology and putting a trio of Loxo execs at the helm.

The failure of SAGE-217 to beat placebo wiped more than 50% off Sage’s share price as investors digested the implications of the data.

The data tee Aurinia up to file for FDA approval next year and go on to address a major unmet medical need.