Novartis exploring divestiture of Alcon

Novartis CEO Joe Jimenez announced the plan to separate the Alcon business by creating a spin-off, yet he did not exclude directly selling the producer of contact lenses and surgical instruments for ophthalmology. Novartis acquired all the shares in Alcon in 2011 for approximately $51.6bn. The move was driven by high expectations which, however, have never been met. The division, indeed, has never delivered the expected results and Jimenez overhauled its management team last year, hoping to upturn the negative trend. (Source Novartis)