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Drug Names(s): fluorometholone acetate ophthalmic suspension 0.1%
Description: Flarex (fluorometholone acetate ophthalmic suspension) is a corticosteroidprepared as a sterile topical ophthalmic suspension.
Novartis and Alcon
In January 2010, Novartis and Nestl initiated completion of the 2008 agreement, whereby Novartis is exercising its call option to acquire Nestl's remaining 52% Alcon stake for USD 28.1 billion, or USD 180 per share. In combination with the 25% stake initially purchased in April 2008, this acquisition gives Novartis 77% ownership of Alcon. To attain a 100% ownership of Alcon, Novartis proposed to acquire the remaining 23% held by minority shareholders, at a fixed exchange ratio of 2.80 Novartis shares for each remaining Alcon share. In August 2010, Novartis announced that it completed its purchase of Alcon stock from Nestle resulting in 77% ownership of Alcon.
In December 2010, Novartis announced that it entered into a definitive agreement to merge Alcon into Novartis for a combination of cash and Novartis shares. In April 2011, Novartis announced that it completed the merger of Alcon into Novartis.
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