Foreign exchange gives Alcon sales black eye
This article was originally published in The Tan Sheet
Foreign exchange fluctuations hit fourth-quarter sales of Switzerland-based Alcon's eye products hard - knocking what would have been 7.1 percent growth down to a 1.9 percent increase to $1.5 billion. Consumer eye care sales account for $196.2 million - a 2.9 percent increase. The category grew on the strength of contact lens disinfectants, such as Opti-Free RepleniSH, which grew 7.6 percent. Sales of artificial tears also increased 2.3 percent despite negative currency fluctuations, thanks in part to the U.S. launch of eye lubricant Systane Ultra in July, according to the firm's Feb. 11 fourth-quarter earnings statement
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