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Alcon Medical Device Company Intelligence Report
Espicom Business Intelligence Ltd, Nov 2009, Pages: 25
Incorporated in 1947, Alcon is headquartered in Hunenberg, Switzerland, and is majority owned by Nestle SA. Interestingly, however, rival Novartis acquired a block of just under 25% of Alcon's issued share capital in April 2008.
Alcon develops, manufactures and markets eye care products in over 180 countries. These include ophthalmic surgical equipment and devices designed for cataract, vitreoretinal and refractive surgery; pharmaceutical products for the treatment of glaucoma, eye infections, inflammation and allergies; and consumer vision care products which include artificial tears, contact lens care solutions and ocular nutrition. This report focuses on the company's surgical products business.
Alcon's main competitors in the ophthalmic surgical market include Abbott Medical Optics (AMO, formerly Advanced Medical Optics) and Bausch & Lomb. In the contact lens care product market, Alcon's principal competitors are CIBA Vision (a Novartis company), Allergan, Johnson & Johnson's Vistakon, AMO, Bausch & Lomb and, in Japan, Rohto Pharmaceutical Company. Other competitors include Merck & Co, Lumenis, Cooper Companies, Carl Zeiss Meditec and Santen Pharmaceutical Company.
By mid-2009, Alcon had amassed a 95% stake in Germany-based WaveLight AG, a developer, manufacturer and marketer of refractive laser and diagnostic systems, including the ALLEGRETTO laser system for refractive eye surgery. The purchase will help Alcon to better support cataract and refractive customers.
Alcon's global sales grew by 12.4% to US$6,293.7 million in the year ended 31st December 2008. Of this increase, 2.9% was attributable to favourable exchange rates. The acquisition of WaveLight contributed 1.2 percentage points of sales growth in 2008. US surgical sales benefited from increased sales of AcrySof monofocal intra-ocular lenses (or IOLs) and advanced technology IOLs, including AcrySof ReSTOR and AcrySof Toric IOLs, as well as higher sales of other cataract, vitreoretinal and refractive products.
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