In September 2018, Novartis announced that it agreed to sell selected portions of its Sandoz U.S. The last year was a transformative year for Novartis, as it restructured its business to focus on becoming a core drug-focused company, powered by data and digital technologies. The spin-off will be completed through the distribution of a dividend-in-kind of new Alcon shares to Novartis’ shareholders and ADR (American Depositary Receipt) holders. The spin-off is expected to be completed in the second quarter of 2019. Last month, Novartis’ shareholders approved the proposed 100% spin-off of the Alcon eye-care division. The acquisition will advance Alcon's commitment toward driving growth and innovation in advanced technology intraocular lenses (AT-IOLS) for cataract surgery patients. ![]() ![]() PowerVision develops fluid-based accommodating intraocular lenses for cataract surgery patients. Per the terms, Alcon paid $285 million to PowerVision at closing, with additional payments based on specified regulatory and commercial milestones starting 2023. Novartis NVS announced that its eye-care unit, Alcon acquired privately-held, U.S.-based medical device development company, PowerVision, Inc.
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