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Novartis AG

Drug Names(s): olopatadine nasal spray

Description: Olopatadine is an inhibitor of the release of histamine from the mast cell and a relatively selective histamine H1-antagonist that inhibits in vivo and in vitro type 1 immediate hypersensitivity reaction including inhibition of histamind induced effects on human conjunctival epithelial cells. Olopatadine is devoid of effects on alpha-adrenergic, dopamine, and muscarinic type 1 and 2 receptors.

Deal Structure: Patanase was originally developed by 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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