Novartis spinning off alcon

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Narasimhan opted to shed the business to shareholders after a strategy review. The buyback will be partially financed out of proceeds from the sale of its joint venture stake to GSK, Narasimhan said. Narasimhan has called the payments a mistake, and the furor cost Novartis's top lawyer his job. Skip Navigation. Investing Club. Key Points. Chief Executive Vas Narasimhan is refocusing the Swiss group on prescription drugs.

Krystal Hur. We're initiating a position in a U. Jeff Marks Jim Cramer. Ganesh Rao. VIDEO Earlier in , Novartis announced a licensing agreement with Spark Therapeutics ONCE covering development, registration and commercialization rights to voretigene neparvovec, outside the United States. The buyback is conducted to use the proceeds of the divestment of the consumer health joint venture stake to GlaxoSmithKline GSK, after making the payment for the AveXis acquisition.

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