Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Business News, In Brief

Executive Summary

Alcon puts its best foot forward pending Novartis acquisition: As activity escalates in the build-up to Novartis' controversial acquisition of Alcon, likely to close in late 2010, Alcon executives sought to present a top-shape image of their company in an earnings call on July 27. Companies usually emphasize strengths in their investor calls, but Alcon's stood out for its executives' use of superlatives in a quarter in which other pharmas tended to be tempered, due to U.S. health care reforms and EU austerity measures. The positioning makes strategic sense, given that an Independent Directors Committee is fighting Novartis over the merger terms on behalf of Alcon's minority shareholders, who include employees (1"The Pink Sheet," Jan. 25, 2010). "I believe no other company in eye care is better positioned than Alcon," stated CEO Kevin Buehler. The firm "delivered organic sales growth of 11.3 percent and total growth of 12.5 percent to $1.9 billion in the quarter," and net income rose 15 percent to $670 million. "We benefit by the fact that we have got this very diversified product line across three different business segments," Buehler noted. As soon as the results came out, the IDC issued a statement: "We encourage Novartis to recognize the company and its employees for their efforts," stated Thomas Plaskett, the IDC chairman

You may also be interested in...



Celgene Makes Aggressive Push Into Solid Tumors With $2.9 Billion Abraxis Acquisition

The pricey acquisition lands Celgene rights to the chemotherapeutic Abraxane and a proprietary nanoparticle formulation technology.

Alcon Shareholders Reject "Inadequate" Novartis Offer

When Novartis announced on Jan. 4 its intention to not only exercise its option to purchase Nestle's remaining 52 percent stake in eye-care group Alcon, but also to buy out the remaining, minority-held 23 percent, CEO and Chairman Daniel Vasella claimed this second step would "create clarity for all stakeholders

Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

Topics

UsernamePublicRestriction

Register

PS052469

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel