Novartis AG applies for clearance

The Commerce Commission has received an application from Novartis AG seeking clearance to acquire the majority shareholding in Alcon, Inc.

The Novartis Group is a large group of healthcare companies operating in many countries throughout the world. It supplies a range of both prescription and non-prescription medicines, vaccines, consumer healthcare products and animal health products. The Novartis Group includes two New Zealand divisions, CIBA Vision and Novartis Consumer Health.

Alcon, Inc. is a global medical company specialising in eye care. Alcon, Inc. operates in New Zealand through Alcon New Zealand Ltd, Alcon Pharmaceuticals Ltd and Alcon Laboratories Inc.

Amongst other things, both companies are involved in the supply of eye care products. In considering the application, the Commission’s role is to determine whether the acquisition has the effect of substantially lessening competition in a market.

A public version of the application will be available shortly on the Commission’s website www.comcom.govt.nz under Public Registers.