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Novartis' Alcon Acquires PowerVision

Alcon, the global leader in eye care and a division of Novartis, announced today that it has acquired PowerVision, Inc., a privately-held, US-based medical device development company focused on creating fluid-based intraocular lens implants.

As per the terms of the agreement, Alcon paid US$285 million to PowerVision at
closing with additional payments based on specified regulatory and commercial
milestones starting in 2023. Alcon is maintaining its 2023 financial outlook
provided at the Capital Markets Days in the fourth quarter of 2018.

Commercial availability of PowerVision's IOL technology will be determined
following significant additional development and clinical trials of the
intraocular lens.

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