Novartis: Alcon spin-off taking shape
(CercleFinance.com) - The planned separation of Novartis' eye care unit Alcon is still expected to be completed in the first half of 2019, the Swiss drugmaker said on Tuesday.
With Alcon holding its first capital markets day for investors and analysts in New York today, ahead of the spin-off, Novartis has said that board of directors' final endorsement should be given soon, with shareholder approval expected at the group's AGM on 28 February 2019.
Alcon intends to make steady improvements in its core operating margin to industry benchmark levels, from high teens today to low-to-mid 20s by 2023, the Basel-based company said.
Alcon also expects to pay a regular cash dividend from 2020, Novartis said.
Alcon shares will be listed on the SIX Swiss Exchange (SIX) and the New York Stock Exchange (NYSE).
Copyright (c) 2018 CercleFinance.com. All rights reserved.
With Alcon holding its first capital markets day for investors and analysts in New York today, ahead of the spin-off, Novartis has said that board of directors' final endorsement should be given soon, with shareholder approval expected at the group's AGM on 28 February 2019.
Alcon intends to make steady improvements in its core operating margin to industry benchmark levels, from high teens today to low-to-mid 20s by 2023, the Basel-based company said.
Alcon also expects to pay a regular cash dividend from 2020, Novartis said.
Alcon shares will be listed on the SIX Swiss Exchange (SIX) and the New York Stock Exchange (NYSE).
Copyright (c) 2018 CercleFinance.com. All rights reserved.