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Alcon, Inc.
Type Public (NYSE: ACL)
Founded Flag of the United States.svg Fort Worth, Texas (1945)
Headquarters Flag of Switzerland.svg Hünenberg, Switzerland
Flag of the United States.svg Fort Worth, Texas, USA
Key people Kevin Buehler President and CEO
Industry Ophthalmology
Products Ophthalmic pharmaceuticals
Surgical equipment
Contact care products
Dry Eye Products
Ocular Vitamins
Revenue $6.3 billion USD (2008)
Employees 15,000 (2009)
Website http://www.alcon.com/

Alcon, (NYSEACL) incorporated and with corporate headquarters, in Hünenberg, Switzerland, is a global medical company specializing in eye care products. Alcon's U.S. headquarters is located in Fort Worth, Texas. Alcon has been purchased by Novartis from Nestle and there have been confirmed information indicating high likelihood that Alcon will soon also be merged with the new parent company. [1]

History

Alcon was founded in 1945([citation needed]in Fort Worth, Texas, USA. The company started as a small pharmacy in Fort Worth and was named for its founders, pharmacists Robert Alexander and William Conner. Conner and Alexander focused on sterile ophthalmic products, which no other company specialized in at the time[citation needed]and built their business by researching eye care products that would reduce contamination and increase safety.

Nestlé of Switzerland purchased Alcon in 1977. This was during a time of rapid growth for Nestlé and was their first venture into the pharmaceutical industry. Alcon expanded its manufacturing capability with new plants in South America and Europe and drastically increased its investment in research. In the 80s and 90s, Alcon continued to grow and became the largest and most profitable ophthalmic company in the world[citation needed]. The Alcon product line has expanded from pharmaceuticals to the surgical arena. The Acrysof intraocular lens is the most commonly used implant in cataract surgery worldwide[citation needed]. Today, Alcon has operations in 75 countries and their products are sold in over 180 countries. Alcon employs nearly 15,000 employees worldwide.[citation needed]

Nestlé conducted an initial public offering of 25% of its stake in Alcon in 2002. The stock is traded under the ticker symbol ACL. Nestlé remains the majority shareholder.

In 2008, Novartis purchased approximately 25% of Nestlé's stake in Alcon, with an option to buy Nestle's remaining shares beginning in 2010.[2]

Novartis bought 52% stake from Nestle for $28.1 Billion. This deal brings the total ownership of Novartis to 77%.

Beginning January 2010 Novartis formally announced it will be completing the exercise options for finishing purchasing the rest of Alcon and then promptly continue to exercise merger and takeover of Alcon[3]

References

External links

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