China Orders Divestitures before Novartis-Alcon Merger

Before approving the merger between Swiss biopharma Novartis and eye-products company Alcon, China’s Ministry of Commerce has ordered two major divestitures, which the Ministry maintains are necessary to preserve competition in China’s eyecare sector. The MoC said Novartis-Alcon together enjoy a 55% stake in the affected markets worldwide and a 60% share in China. More details... Stock Symbols: (NYSE: NVS) (NYSE: ALC)