Novartis' New Kind of Pharma Deal
Executive Summary
Novartis' two-step, $39 billion agreement to take a majority share of eye-group Alcon represents a very new kind of pharma deal: with pharma re-defined to include consumer care and surgery; and, for the first few years at least, with the buyer remaining an arm's length investor.
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Alcon Shareholders Reject Novartis Offer As Inadequate
When Novartis announced on Jan. 4 its intention to not only exercise its option to purchase Nestle's remaining 52% stake in eye-care group Alcon, but also to buy out the remaining, minority-held 23%, CEO and Chairman Daniel Vasella claimed this second step would "create clarity for all stakeholders.
Alcon Shareholders Reject "Inadequate" Novartis Offer
When Novartis announced on Jan. 4 its intention to not only exercise its option to purchase Nestle's remaining 52 percent stake in eye-care group Alcon, but also to buy out the remaining, minority-held 23 percent, CEO and Chairman Daniel Vasella claimed this second step would "create clarity for all stakeholders
Alcon Shareholders Reject Novartis Offer As Inadequate
When Novartis announced on Jan. 4 its intention to not only exercise its option to purchase Nestle's remaining 52% stake in eye-care group Alcon, but also to buy out the remaining, minority-held 23%, CEO and Chairman Daniel Vasella claimed this second step would "create clarity for all stakeholders.