Novartis AG Weighs Sale of Its Alcon Eye Care Biz

Published: Nov 14, 2016

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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