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Novartis Now Majority Shareholder of Alcon

Novartis AG and Nestlé S.A. have completed the purchase and sale of approximately 156 million shares of Alcon, Inc. for $28.3 billion in cash. The transaction was consummated pursuant to an agreement between Nestlé and Novartis that was executed on April 6, 2008. With the completion of this transaction, Novartis is now Alcon's majority shareholder and controls approximately 77 percent of Alcon's outstanding shares.

Effective immediately, the five Nestlé-designated members of the Alcon board of directors have tendered their resignations, and the Aug. 16, 2010 election of the five Novartis-designated directors is deemed effective. The Novartis-designated directors elected by Alcon shareholders include Dr. Enrico Vanni until 2011; Mr. Norman Walker until 2011; Dr. Paul Choffat until 2012; Dr. Urs Baerlocher until 2013; Dr. Jacques Seydoux until 2013.

"I would like to thank Nestlé for their outstanding contributions and support of Alcon for more than 30 years, which has been an important part of making Alcon the global leader in ophthalmology," said Kevin Buehler, Alcon's president and chief executive officer. "We now welcome Novartis as our new majority owner and look forward to working with them to further enhance Alcon's business model, provide opportunities for future growth and deliver benefits to customers and patients around the world."

The transaction announced by Nestlé and Novartis does not affect the remaining 23 percent of Alcon's shares that trade publicly on the New York Stock Exchange. On January 4, 2010, Novartis proposed a merger of the two companies under Swiss merger law at a fixed exchange rate of 2.8 Novartis shares for each Alcon share. The Independent Director Committee (IDC) of Alcon's board of directors rejected this proposal on January 20, 2010 based on inadequate value.

In mid-August, China's Ministry of Commerce approved Novartis AG's acquisition of Alcon Inc., but barred Novartis from selling one of its premerger ophthalmological anti-infection products in China for five years to meet requirements of China's antimonopoly law. Novartis will also have to halt a sales partnership with a Taiwanese contact lens maker.

The European Commission and The Competition Bureau in Canada had also reached similar agreements, requiring Novartis to divest a number of businesses across product areas including ophthalmological antiinfective, anti-inflammatory/anti-infective combinations, anti-allergics, decongestants, antiseptics, mydriatics and cycloplegics, diagnostic agents, non steroidal anti-inflammatories, injectable miotics, antiglaucoma products, artificial tears, and multipurpose solutions.

New Lens Receives UV Seal from AOA

1-Day Acuvue Tru- Eye silicone hydrogel daily disposable contact lenses (Vistakon) received the Seal of Acceptance for Ultraviolet Absorbing Contact Lenses from the American Optometric Association's (AOA) Commission on Ophthalmic Standards. Vistakon reports that 1-Day Acuvue TruEye is the fifth contact lens in the Acuvue family of products to receive the Seal of Acceptance.

In awarding the Seal of Acceptance, AOA's Commission on Ophthalmic Standards, which provides independent evaluation of ophthalmic related products, determined that 1-Day Acuvue TruEye meets AOA specifications for ultraviolet absorbing contact lenses. These specifications are in accordance with published standards of the American National Standards Institute (ANSI) and International Standards Organization (ISO).

"For those who need vision correction, a significant measure of UV protection can be achieved with a combination of UV-absorbing sunglasses, a widebrimmed hat, and UV-blocking contact lenses," says Karl M. Citek, OD, PhD, chair of the Commission on Ophthalmic Standards.

Study Shows Need for Pediatric Compliance

The journal Pediatrics, in association with the Food and Drug Administration (FDA), recently reported the results of a two-year study titled, "Emergency Department Visits for Medical Device-Associated Adverse Events Among Children." Of all the visits, about 23 percent were associated with contact lens wear. The data indicate that the most frequently reported injury diagnoses resulting from contact lenses were abrasions and ulcers of the cornea and conjunctivitis (i.e., pink eye).

A statement from the American Academy of Optometry Section on Cornea, Contact Lenses and Refractive Technologies says that while these injuries were generally considered superficial and did not require hospitalization, many could have been prevented.

The statement went on to say, "The most common risk factors for contact lens complications in this study were alteration of the prescribed wearing or replacement schedules and noncompliance with recommended contact lens wear and care regimens."

The Section recommends that parents contact the emergency number of their child's optometrist to ensure proper diagnosis and management of contact lens complications and that practitioners review contact lens replacement, lens care, and hygiene at every visit.

Lagado Appoints New VP

Menicon Co. Ltd. has tapped an industry veteran as its vice president of manufacturing for Lagado Corporation, a wholly owned subsidiary of Menicon America Inc.

Mark Allen, who will report to Jonathan Jacobson, Menicon America president, joins Menicon with more than 25 years' experience in the GMP manufacturing sector, including in the contact lens and ophthalmic viscoelastics industry. Allen will oversee manufacturing operations of Lagado Corporation and will be based in Denver. He will work closely with Bill Hoffman, research scientist for Lagado, in bringing new contact lens materials to market for custom lens manufacturers.

"I am thrilled to be joining the Menicon team," Allen said. "The recent acquisition of Lagado marks the latest milestone in Menicon America's strategy to aggressively pursue the U.S. market. I look forward to continuing Lagado's established history of high-quality and innovative products, and I will bring a new emphasis for providing strong technical support for our customers."

B+L Voluntary Recall of Eye Vitamin in U.S.

Bausch + Lomb is conducting a voluntary recall of its PreserVision Eye Vitamin AREDS 2 Formula with Omega 3 soft gels, only available within the United States.

B+L chose to initiate this recall based on a small number of reports predominantly within a specific age group, age 70 and older, who reported difficulty swallowing or a choking sensation when taking the soft gel.

The voluntary recall is limited only to the United States; it does not affect locations in Europe, the Middle East, or Asia- Pacific regions. Lot numbers include: 0923BK103, 0924BK103, 0924BK103A, 0925BK103A, 0926BK103A, 0927BK103A, 0928BK103A, 0929BK103A, and 0930BK103A. The PreserVision Eye Vitamin AREDS 2 Formula with Omega 3 is the only supplement affected in the recall; all other PreserVision and Ocuvite supplements, soft gels, and tablets remain on the market.

To clarify, the company states that the formulation of PreserVision Eye Vitamin AREDS 2 Formula with Omega 3 is safe. While many people can comfortably swallow the supplement, B+L believes the design of the soft gel requires further consideration.

B+L expects to release an AREDS 2 formulation in a smaller soft gel which will be dosed twice per day, two pills per dose. This immediate redesign is expected to be available later this year.

The company has directly contacted U.S. retailers who have been shipped this product to initiate the recall and informed them of the steps they should take to return the product. Even if consumers are comfortable swallowing the soft gel, the company is urging them to return the product to B+L. Consumers who have this product in their home should call the customer service center for instructions on returning and reimbursement at (800) 553-5340.