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Alcon Beats Expectations Since its Split from Novartis

The company brought in sales of $1.8 billion topping analysts’ expectations of $1.77 billion.

Alcon seems to be holding its own in earnings since it split from Novartis. The eye-care company brought in about $1.8 billion in sales surpassing Wall Street Expectations of $1.77 billion.

However, Alcon noted net sales were flat on a reported basis as compared to the same quarter of the previous year.

“The spin-off of Alcon marks a new chapter in our mission to enable more patients to see brilliantly. David Endicott, Alcon’s CEO, said in a release. “Solid first quarter results give us confidence in our ability to perform as an independent company and to continue to execute on our key growth drivers. Our Surgical business performed well in the quarter, with growth across all three categories.”

Novartis first revealed plans of spinning out Alcon as a public company in June of 2018. The spinoff was completed early last month. It should be noted Alcon wasn’t sitting idly by waiting for the separation to occur.

The company was busy on the M&A scene announcing it would acquire Tear Film Innovations for an undisclosed sum and intraocular lens implant-maker PowerVision for $285 million.

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