Novartis Chairman Says Alcon Worth $20 Billion to $30 Billion: Finanz und Wirtschaft
07/02/2018
The chairman of Swiss Novartis expects Alcon to be valued at between $20 billion and $30 billion when the ophthalmic devices unit is spun off to shareholders next year, he said in an interview with Finanz und Wirtschaft, according to a Reuters report.
“Just how much it’s ultimately going to be will be determined when we know how debt and other things will be quantified,” Joerg Reinhardt told the Swiss financial newspaper.
Novartis announced on Friday it is spinning off the eye care surgical equipment and contact lens unit, with $7 billion in annual revenue. The business no longer fits the drugmaker’s strategy of focusing on prescription medicines, Novartis concluded.