"Novartis will acquire the remaining stake from the minority stakeholders of the company by the end of this calendar year," Novartis India Managing Director Ranjit Shahani told reporters on the sidelines of a CII summit here.
With the acquisition of the entire stake in Alcon, Novartis aims to expand and consolidate its eye care segment globally, Shahani said, without divulging details.
The company is also planning to enter into consumer health care and generics.
"The deal will also help Novartis strengthen innovation and R&D efforts in the eye-care segment," he said, adding that the world market for eye care products is growing.
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