With the recen news about the economy, and the decline in shares in pharmaceutical companies, Novartis announced that it had recently purchased Alcon.

Alcon is well known as a major company specialized in solutions and services for eye care.

With this new business venture, pharmaceutical giant is expected to buy Alcon for at least $143 dollars per share.

This purchase by Novartis was not a result of recent deals but came after many years of negotiation between the two companies. Chairman of Novartis Daniel Vasella was happy about the company’s new acquisition.

He saw this as a way to increase the market value of the company while the economy was suffering a downturn.

Shares in Novartis are currently trading at $148 per share.

Tags: European Economy News //