Aerie Pharmaceuticals
2022
Outcome
Expanded Alcon's ocular pharmaceutical footprint into prescription glaucoma therapies, leveraging its global eye doctor relationships.
Alcon
Acquisitions
Alcon Acquisitions
3
Major Deals Covered
What are Alcon's biggest acquisitions?
This page covers 3 major deals from 2020 to 2022, each with its price where disclosed and the reason behind it.
- Major deals covered
- 3
- First deal
- 2020
- Most recent
- 2022
| Company | Year | Price | Purpose |
|---|---|---|---|
| Aerie Pharmaceuticals | 2022 | Undisclosed | Acquired commercial-stage ophthalmic pharmaceutical company to add proprietary prescription eye drops for glaucoma (Rocklatan and Rhopressa). |
| Ivantis, Inc. | 2022 | Undisclosed | Acquired developer of the Hydrus Microstent for minimally invasive glaucoma surgery (MIGS) to treat open-angle glaucoma during cataract surgery. |
| STAAR Surgical (Strategic Collaboration & Lens Assets) | 2020 | Undisclosed | Acquired specialized refractive lens manufacturing intellectual property to enhance implantable collamer lens options. |
- What companies has Alcon bought?
- Major acquisitions by Alcon documented here include Aerie Pharmaceuticals (2022), Ivantis, Inc. (2022) and STAAR Surgical (Strategic Collaboration & Lens Assets) (2020).
- What is Alcon's most recent acquisition?
- The most recent Alcon acquisition documented here is Aerie Pharmaceuticals, in 2022.
Ivantis, Inc.
2022
Outcome
Gave Alcon premier standing in the fast-growing MIGS market, combining cataract surgery with glaucoma pressure relief.
STAAR Surgical (Strategic Collaboration & Lens Assets)
2020
Outcome
Expanded Alcon's refractive portfolio, providing vision correction options for high-myopia patients unsuitable for LASIK surgery.
Alcon's Growth & Acquisition Strategy
Alcon's forward growth strategy centers on three secular expansion vectors: premium intraocular lens (ATIOL) penetration, expanding water-gradient contact lenses into toric and multifocal prescriptions, and expanding dry eye pharmaceutical treatments. In cataract surgery, only about 15% of patients currently receive advanced technology intraocular lenses that correct presbyopia and astigmatism; Alcon is expanding surgeon education to increase ATIOL penetration, which delivers significantly higher revenue per surgery. In vision care, Alcon is expanding its TOTAL30 monthly contact lens portfolio to address astigmatic wearers. In ocular health, Alcon acquired Aerie Pharmaceuticals, entering prescription glaucoma and retinal disease therapies to complement its market-leading Systane dry eye drops.
How Alcon Makes Money
Alcon generates revenue through a classic medical device "razor-and-blade" model across its Surgical and Vision Care businesses. In Surgical, Alcon sells capital equipment consoles (such as Centurion phacoemulsification systems and LuxOR surgical microscopes) to ophthalmic surgery centers and hospitals. Once a console is installed, surgeons must purchase high-margin, single-use proprietary consumables (tubing packs, specialized surgical knives, viscoelastic fluids) and intraocular lenses (such as Clareon and PanOptix trifocal IOLs) for every individual patient procedure performed, generating recurring high-margin cash flow. In Vision Care, Alcon generates recurring consumer revenue through daily disposable contact lenses and over-the-counter dry eye drops (Systane) purchased regularly by millions of consumers worldwide.
Alcon Acquisitions FAQ
Why did Alcon acquire Aerie Pharmaceuticals?
Alcon acquired Aerie in 2022 for $770 million to enter the commercial prescription glaucoma market with Rocklatan and Rhopressa eye drops, leveraging its existing ophthalmologist relationships.
What is the Hydrus Microstent acquired from Ivantis?
Acquired for $475 million in 2022, the Hydrus Microstent is a tiny flexible nitinol scaffold inserted into Schlemm's canal during cataract surgery to lower intraocular pressure in open-angle glaucoma patients.
How did Alcon acquire CIBA Vision?
CIBA Vision was the contact lens subsidiary of Novartis. When Novartis acquired full ownership of Alcon in 2011, it integrated CIBA Vision directly into Alcon, creating the Vision Care division.
What is Alcon's forward M&A strategy?
Alcon targets bolt-on acquisitions in fast-growing sectors like minimally invasive glaucoma surgery, retinal therapies, and diagnostic surgical lasers where it can distribute new products through its global sales channels.
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