Novartis Raises Revenue, Savings Forecasts for Alcon Unit
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Novartis AG, Europe’s second-biggest drugmaker by sales, raised its sales target and cost savings forecast for Alcon, the eye-care company it finished acquiring this year.
Alcon aims to expand sales by a high-single to low-double-digit percentage, Basel, Switzerland-based Novartis said in a statement today. The maker of contact lenses and equipment for eye surgery previously forecast growth in the mid- to high-single digits. Novartis expects savings in the unit of $350 million a year by 2013, it said, compared with previously forecast savings of $300 million.