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Novartis AG (NVS) Weighs Sale of Its Alcon (ACL) Eye Care Biz



11/14/2016 7:26:03 AM

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Drugmaker Novartis is considering to sell its struggling Alcon eye care division, its chairman said in an interview with Swiss weekly SonntagsZeitung.

Novartis has blamed a failure to innovate and inconsistent customer service for the problems at Alcon, a business the company gradually bought from food maker Nestle in deals totaling $51 billion.

Alcon will take longer to turn around than expected, Chief Executive Joe Jimenez said in October, forecasting unit sales to be flat to slightly down in the current quarter.

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