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Novartis mulls Alcon options, reports earnings
January 26, 2017 12:53 AM UTC
In its 4Q16 earnings report, Novartis AG (NYSE:NVS; SIX:NOVN) said it is mulling an IPO or spin-out of its Alcon Inc. surgical and vision care division. Sales in the division were $5.8 billion, off 2% in 2016 compared to 2015 at constant currency rates.
In January 2016, CEO Joe Jimenez told investors he expected Alcon to finish the year with mid-single digit sales growth. Alcon was the only one of Novartis' three business divisions that reported declining sales in 2015 compared with 2014 (see BioCentury, May 23, 2016)...
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