BASEL, Switzerland — Novartis on Wednesday announced that its merger agreement with Alcon has been settled to the tune of $12.9 billion. The new $8.7 billion Alcon eye care division, which includes CIBA Vision and selected ophthalmic medicines, will be led by current Alcon president and CEO Kevin Buehler.
Shares of Novartis were up 7.6% to more than $60 in early morning trading.
"The full merger is the logical conclusion of our initial strategic investment in Alcon,” stated Daniel Vasella, Novartis chairman.
