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Alcon Deal Puts Novartis in a Bind
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Novartis bought form Nestle SA a 25% stake in Alcon for $11 billion with an option to buy Nestles's remaining 52% holding in 2010 and combine its eye care operations with Alcon's. But there is uncertainty about how this will work out and at what price Nestle will sell as share price of Alcon has dropped. This leaves Novartis in a bind when it comes to other acquisitions as it has to raise and set aside capital to complete the Alcon acquisition. Novartis raised $5.5 billion in debt in February 2009, and $2.2 billion in a bond sale in June, and will raise more capital.
Acquisitions and acquisition strategies of pharmaceutical companies.
02/09/2006
As growth slows pharmaceutical companies look to acquisitions for growth and new drugs.
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