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Australia Clears Novartis Buy Of Alcon Without Key Eye-care Line

This article was originally published in PharmAsia News

Executive Summary

Australian authorities have given their permission for the merger of Switzerland's Novartis AG and Alcon Laboratories, based in the United States, but incorporated in Switzerland

Australian authorities have given their permission for the merger of Switzerland's Novartis AG and Alcon Laboratories, based in the United States, but incorporated in Switzerland.

The Australian Competition and Consumer Commission approved the deal after Novartis said it would sell Alcon's injectable miotic assets used in eye surgery to Bausch & Lomb in Australia. Australian regulators feared that otherwise Novartis would gain an Australian monopoly on those types of products. Novartis bought the 52 percent of Alcon owned by Nestle earlier this year, and now seeks to buy the remainder from shareholders. (Click here for more)

"ACCC Approves Novartis's Alcon Takeover" - Business Spectator (Australia) (7/29/10)

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