The key operations of Ciba Vision will move by next October from its head office from Atlanta, Georgia, to Alcon's U.S. office in Fort Worth, Texas, following their recent merger into a new Alcon Vision Care unit controlled by Novartis. Ciba will continue to operate in the Atlanta region in the areas of R&D, IT and other activities. Noting that his company had taken over some of Ciba Vision's sales reps in the U.S., an executive of CooperVision told analysts that could be disruptive in the short term. He speculated that the merger may end up shifting the group's focus from vision correction to pharmaceutical solutions. Novartis has budgeted R&D spending of $4 billion on eye care over the next five years.
Related articles
ArticleKey Essilor directions switched to Italian management
According to a report by the French business newspaper Les Échos on June 9, Francesco Milleri , CEO of EssilorLuxottica since the last general assembly of shareholders, has been appointed as Essilor International ’s CEO as well, taking over responsibilities assumed since April last year ...
- Article
Essilux-GV transaction gets final green light from Turkey
All regulatory lights are now green for EssilorLuxottica and GrandVision as Rekabet Kurumu , the Turkish regulator, gave its blessing to the transaction between both parties, through which the Franco-Italian company would purchase 76.72 percent of HAL ’s interest in the Dutch-based retail group. The Turkish regulator’s ...
- News briefs
Mister Spex reportedly eyeing IPO
According to the German business magazine WirtschaftsWoche , Mister Spex is planning an Initial Public Offering (IPO) to trade on the Prime Standard stock exchange in Frankfurt early next month. The optical retailer has reportedly hired the financial services of Berenberg , Jefferies and Barclays for ...
