Shares in Alcon (NYSE:ALC) are steady today after the ophthalmic device maker, freshly spun out from Novartis (NYSE:NVS), posted first quarter 2019 earnings that beat sales expectations on Wall street. The Geneva-based company posted sales of $1.8 billion for the three months ended March 31, just in line with its sales during the same quarter of […]
Novartis completes spinout of Alcon eye biz
Novartis (NYSE:NVS) closed the spinout of its Alcon vision care business, setting the stage for its shares to begin trading today in Switzerland and New York. The spinout, announced last June, saw each Novartis shareholder receive a single ALC share for every five NVS shares as of the close of business April 1, Novartis said last […]
ReShape taps Allergan vet Bandy for CEO | Personnel Moves, April 3 2019
ReShape Lifesciences (NSDQ:RSLS) said last week that it named Allergan (NYSE: AGN) veteran Barton Bandy to replace Dan Gladney in the corner office, effective April 1. Gladney, who announced his retirement in January, is staying on as chairman. Bandy spent a decade at Inamed until its $3.2 billion purchase by Allergan in 2005. “I am […]
Novartis plans Alcon spinout for early April
Novartis (NYSE:NVS) said today that it’s planning to list the shares of its Alcon vision care business April 9 in Switzerland and New York. Terms for the spinout, announced last June, call for each Novartis shareholder to receive a single ALC share for every five NVS shares at the close of business April 8. The […]
Novartis’ Alcon picks up PowerVision for $285m
Novartis (NYSE:NVS) subsidiary Alcon said today that it acquired intraocular lens developer PowerVision for $285 million. PowerVision is developing fluid-based intraocular lens implants that use the eye’s natural accommodating response to transport fluid in the implanted lens, Fort Worth, Texas-based Alcon said. The fluid-based lens creates a continuously variable monofocal lens using the natural contractions of the eye’s […]
Novartis unit Alcon picks up Tear Film Innovations
Novartis (NYSE:NVS) subsidiary Alcon said it acquired Tear Film Innovations for an undisclosed amount. San Diego-based TFI makes the iLux system, which is designed to treat blocked meibomian glands in eyelids. The company had raised a total of $18 million in two rounds in as many years, split evenly between the two. iLux won 510(k) clearance from the FDA […]
Google’s Verily spikes glucose-sensing lens project with Novartis’ Alcon
Google (NSDQ:GOOG) life sciences company Verily said late last week that it is putting its joint project with Novartis (NYSE:NVS) unit Alcon to develop a glucose-sensing contact lens on hold due to difficulties in obtaining reliable tear glucose readings. The project, which began in 2014, aimed to develop a contact lens that could measure glucose levels for individuals living […]
FDA updates warning on Alcon’s CyPass glaucoma stents
The FDA today released an update to a warning on Novartis (NYSE:NVS) subsidiary Alcon’s CyPass glaucoma stents, saying that clinicians should still refrain from using the stents and should monitor patients who’ve received them for endothelial cell density loss. In August, Alcon voluntarily pulled the stents from the global market based on an analysis of five-year post-surgery […]
The 20 largest medical device companies in the world
The medical device industry saw even more consolidation over the past year, as evidenced by Medical Design & Outsourcing‘s newest Big 100 list. It used to be that a company had to have at least $100 million in annual revenue to make it on the list. This time around, No. 100 on the list is […]
Alcon withdraws all CyPass micro-stents, says it will not affect spin-off
Novartis (NYSE:NVS)’s Alcon said this week it is voluntarily withdrawing its CyPass micro-stents from the global market, but that the withdrawal will not affect its planned spin-out. The decision to pull the devices comes off the analysis of five-year post-surgery data from the Compass-XT study of the device, which showed that patients treated with the stent had […]
Novartis to spin out Alcon ophthalmic subsidiary
Novartis (NYSE:NVS) said today that it’s planning to spin its Alcon ophthalmology subsidiary into a publicly traded company after years of speculation that it wanted to sell the ill-starred division. The Swiss pharma giant said it intends to hold on to Alcon’s $4.6 billion ophthalmic pharmaceuticals business under the Novartis Innovative Medicines umbrella, continuing a […]
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