Updated to include new details of Novartis’ M&A strategy. Novartis (NYSE:NVS) CEO Joe Jimenez’s consideration of the sale of the Alcon subsidiary has investors worried that the influx of cash – Alcon’s surgical devices and contact lens business could fetch as much as $35 billion – will result in another misguided acquisition. The Swiss drugmaker […]
Alcon
LivaNova snags former J&J exec Huston as CFO | Personnel Moves, May 24, 2017
LivaNova (NSDQ:LIVN) said last week that it picked up former Johnson & Johnson medical device group chief financial officer Thad Huston as its new CFO, effective May 20. Huston will replace former CFO Vivid Sehgal, who coordinated with Huston during the transition. Huston spent more than 25 years with Johnson & Johnson, and held various positions, […]
Glaukos slides on report of increased competition from Alcon
Glaukos (NYSE:GKOS) shares are off some 7% today on a report that increased competition from the Alcon unit of Novartis (NYSE:NVS). The once-high-flying stock could lose 30% of its value this year as Glaukos loses its monopoly on the ocular stent, according to a report today in Barron’s. The San Clemente, Calif.-based company’s iStent, which won FDA […]
Report: Novartis eyes sale for Alcon lens business
Novartis (NYSE:NVS) said yesterday that it is considering selling its Alcon eye care business and will buy back up to $5 billion worth of shares over the next 12 months, in an effort to reorganize after a tough year. The company’s profits dropped -11% to $936 million in the 3 months ended Dec. 31, while sales […]
FDA approves Alcon’s AcrySof IQ ReStor intraocular lens
Novartis‘ (NYSE:NVS) eye care business, Alcon, said today that it won FDA approval for its AcrySof IQ ReStor multifocal toric intraocular lens. The lens treats presbyopia and pre-existing corneal astigmatism in adult patients undergoing cataract surgery. The AcrySof IQ ReStor intraocular lens is already commercially available in the E.U., Australia, Canada, parts of Central and […]
Novartis mulls sale for underperforming Alcon eye division
Novartis (NYSE:NVS) is considering a possible divesture of its struggling Alcon eyecare business, according to chairman Joerg Reinhardt. Alcon was purchased from Swiss food maker Nestle for $52 billion in 2010 as the company sought to build a European healthcare juggernaut under former leader Dan Vasella. But after Vasella’s departure in 2013, the company has […]
Researchers develop glucose-sensing contact lens
Researchers have developed a glucose-sensing contact lens as a noninvasive alternative to traditional glucose monitoring with blood tests. Glucose is a good target for optical sensing using surface-enhanced Raman spectroscopy, according to the study published in Advanced Materials. Researchers used multiple layers of gold nanowire stacked on top of a gold film to make the […]
Alcon wins FDA nod for CyPass Micro-Stent
Novartis (NYSE:NVS)’s Alcon unit won FDA clearance for its CyPass Micro-stent designed to reduce intraocular pressure in patients suffering from glaucoma, according to an FDA release posted today. The device consists of the small CyPass micro-stent which is pre-loaded into the CyPass applier stent delivery tool. The shunt is implanted to control eye pressure by creating […]
Novartis pharma head Epstein steps away, most recent in string of top-level turnovers | Personnel Moves, May 27, 2015
Novartis pharma head Epstein steps away, most recent loss in string of top-level turnovers Novartis (NYSE:NVS) is facing an upheaval in its top management, seeing 7 departures over the last 5 months as shares fell 25% since last July. Last week, Novartis pharmaceuticals head David Epstein quit as his division was split up. Earlier in the month, U.S. […]
Retina Implant drums up $28m
Retina Implant said this week that it raised $28.2 million (€26 million) in private equity funding for its Alpha IMS device, which is designed to treat blind patients with retinitis pigmentosa. The round including contributions from new and existing backers, the Reutlingen, Germany-based company said. The proceeds are earmarked for new clinical centers and winning reimbursement in […]
Novartis taps Hospira-sale engineer exec Ball to revive slumping Alcon
Novartis (NYSE:NVS) is looking to revitalize its slumping Alcon eye care division by picking up medical vet Michael Ball, who recently organized Hospira’s $15 billion sale to Pfizer (NYSE:PFE). Ball will replace previous Alcon chief Jeff George, the company announced today. Novartis CEO Joe Jimenez is reportedly putting Ball in control of reviving Alcon. Alcon […]