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China Approves Novartis-Alcon Merger with Conditions -- Update

publication date: Aug 17, 2010
China’s Ministry of Commerce approved the merger between Swiss biopharma Novartis and eye-products company Alcon, though it did require CIBA VISION, a division of Novartis, to terminate its Sales and Distribution Agreement with HaiChang, one of the largest contact lens sellers in China, within the next 12 months. The MoC said Novartis-Alcon together enjoy a 55% stake in the affected markets worldwide and a 60% share in China. More details...

Stock Symbols: (NYSE: NVS) (NYSE: ALC)

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