Headlines Novartis CEO: Alcon Spinoff Could Be ‘Big Opportunity’ for Shareholders Published 6 years ago on January 25, 2017 By INVISION Staff Share Tweet Alcon’s sales fell 3 percent in 2016. The CEO of Novartis said the company continues to mull the possibility of spinning off its Alcon eyecare unit. Such a move would likely “create a big opportunity for our shareholders,” CEO Joe Jimenez said, according to MarketWatch. The company anticipates having a decision by the end of the year, the website reports. Joerg Reinhardt, chairman of Novartis, said in November 2016 that it was possible the pharmaceutical company would sell Alcon. A planned turnaround at Alcon hasn’t progressed as quickly as Novartis officials had hoped. Advertisement Bloomberg reports that a spinoff and an initial public offering are among the options being considered for Alcon. Jimenez told Bloomberg: “Now is the time for us to take a look at what’s in the best interests of Novartis shareholders for that unit. This is going to include all options, including retaining the business to exiting the business.” Alcon, whose U.S. headquarters are in Texas, makes items including contact care products, ophthalmic pharmaceuticals, dry eye products and ocular vitamins. Novartis took ownership of the company through several deals totaling $51 billion. According to Bloomberg, Alcon’s sales fell 3 percent in 2016 to just over $5.8 billion. Read more at MarketWatch and Bloomberg Advertisement Related Topics:AlconNovartis click to Comment(Comment) Up Next Paragon Vision Sciences Opens Training Center Don't Miss Warby Parker CEO: We’re Adding 25 Stores in 2017 SPONSORED VIDEO Explore New Crizal® Sapphire™ HR lenses on Leonardo Did you know there’s an online course on the new Crizal Sapphire HR lenses available now on Leonardo? With best-in-class learning content, including a wide range of ABO certified CE courses, Leonardo can take your practice’s optical knowledge to the next level. Visit leonardo.essilorluxottica.com today to learn about new Crizal Sapphire HR and take advantage of the 3-month free trial of this innovative online learning platform brought to you by EssilorLuxottica. You may like Promoted Headlines 5 REASONS WHY BIOACETATE S70® IS THE BETTER, GREENER ALTERNATIVE FOR EYEWEAR Explore New Crizal® Sapphire™ HR lenses on Leonardo Essilor Varilux Young Presbyope Testimonial Video Essilor Advertisement Latest Trending Videos Do You Or Don't You12 hours ago 58% of You Offer Health Insurance, the Remainder Don’t Buzz Session12 hours ago We Asked ECPs What Took Them a Surprisingly Long Time to Realize They Were Doing Wrong Benchmarks12 hours ago Check Out These Six Memorably Named Eyecare Businesses Best of the Best13 hours ago Want to Curate a Top-Level Eyewear Collection? Start with the Rep… Headlines19 hours ago Few Retailers Investing in Improving Experiences of Frontline Workers Headlines2 weeks ago Optical Industry Trade Shows and Conferences 2023 Headlines2 weeks ago Georgia Ophthalmologist to Pay $1.85M to Settle Fraud Claims Headlines2 weeks ago Founding Dean Named for Optometry School at High Point University in North Carolina Real Deal3 weeks ago Patients Are Upset About Unexpected Out-of-Pocket Costs. Who’s to Blame? Spexy2 weeks ago 3 Reasons to Purge Stagnant Inventory for the New Year Spexy2 weeks ago 3 Reasons to Purge Stagnant Inventory for the New Year Sponsored Content1 month ago Explore New Crizal® Sapphire™ HR lenses on Leonardo Sponsored Content2 months ago Varilux Young Presbyope Testimonial Video Sponsored Content3 months ago Explore New Crizal® Sapphire™ HR lenses on Leonardo Sponsored Content3 months ago NEW Crizal® Sapphire™ HR No-Glare Lenses Advertisement SubscribeBULLETINS Get the most important news and business ideas for eyecare professionals every weekday from INVISION. Advertisement Advertisement Most Popular Brand Portfolio1 week ago This Attractive Florida Practice Lets Its Brand Do the Marketing Headlines3 days ago Nelly’s Continuous Eye Rolls During Odd Performance in Australia Draw Concern Columns1 week ago What Does the New Google Mean for Your Eyecare Business? Headlines4 days ago Data Incidents Reported at 2 Eyecare Practices Style to Sell!2 days ago You Only Need 5 Minutes to Increase Your Capture Rate! Seriously. Headlines1 week ago Bausch + Lomb Acquires AcuFocus Ophthalmic Medical Device Company Products5 days ago Not So Basic: 9 Patterned Specs and Sun Styles for Something Special John Marvin1 week ago What’s Your Personal Growth Plan for 2023?