Novartis: Alcon spinoff expected in first half of 2019
(CercleFinance.com) - Alcon is expected to be spun off from Novartis in the first half of 2019, the Swiss drugmaker said on Tuesday.
The newly listed holding company for the eye care business will be based in the Canton of Fribourg, Switzerland, Novartis said in a statement.
Alcon also announced plans to locate its future global headquarters in the Canton of Geneva, following the spinoff's completion.
Alcon said it will begin moving to the new location in 2019. In the long run, Alcon could employ up to 700 people in Switzerland.
Earlier this year, Novartis announced its intention to spin off Alcon into a separately-traded standalone company that would be incorporated in Switzerland, with listings on the SIX Swiss Exchange and the New York Stock Exchange.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The newly listed holding company for the eye care business will be based in the Canton of Fribourg, Switzerland, Novartis said in a statement.
Alcon also announced plans to locate its future global headquarters in the Canton of Geneva, following the spinoff's completion.
Alcon said it will begin moving to the new location in 2019. In the long run, Alcon could employ up to 700 people in Switzerland.
Earlier this year, Novartis announced its intention to spin off Alcon into a separately-traded standalone company that would be incorporated in Switzerland, with listings on the SIX Swiss Exchange and the New York Stock Exchange.
Copyright (c) 2018 CercleFinance.com. All rights reserved.