Novartis says buys controlling stake in Alcon

BASEL: Swiss pharmaceutical group Novartis on Monday said it had bought a controlling stake in the world's largest eye care firm Alcon from Nestle for 28.1 billion dollars (19.7 billion euros).

The purchase of the additional 52 percent stake in Alcon follows a deal reached in 2008 between Novartis and food giant Nestle.

The deal saw Novartis buy about a quarter of Alcon for 10.4 billion dollars, with an option to purchase Nestle's additional 52 percent majority stake from January 2010.