The eye care products maker recently told investors it will cut an additional $100 million from expenses through next year to improve efficiency.
that it would cut an additional $100 million from expenses through next year to improve efficiency. The new cuts are on top of plans announced in 2019 to reduce costs by up to $225 million.
The company’s sales of $6.5 billion through Sept. 30 are up nearly 7% from the same nine-month period last year. It expects to end the year with sales of $8.5 billion to $8.7 billion. “Demand for our products was robust, and we saw particularly strong growth in our international markets,” CEO David J. Endicott said in an earnings announcement in November. “Looking forward, we will continue to focus on advancing our innovation engine, driving commercial execution and creating long-term shareholder value.”
In a later call with analysts, Endicott said the goal of the cost-cutting effort was “to drive speed and simplicity into the business. By allocating expenses more efficiently, we’ve created savings that were reinvested into new product development and launches.”Alcon makes a variety of surgical and vision care products, including consumer and prescription eye drops sold as Systane, Pataday, Simbrinza, Eysuvis and Inveltys.
The company was founded in Fort Worth in 1945 by pharmacists Robert Alexander and William Conner, who sold eye care products. It grew through a series of acquisitions under ownership by Nestle and Novartis before spinning off on its own in 2019.. Paul directs the work of an award-winning staff covering business news in the nation's fourth largest metro region. He's been The News' business editor since 2015.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The City of Spanish Fort hosts annual “Christmas in the Fort” EventsJoin the City of Spanish Fort for Christmas in the Fort. We will kick off this Christmas season at Spanish Fort Community Center (7361 Spanish Fort Blvd) with the annual Christmas Tree Lighting & Movie Night at 5pm on Sunday, December 4.
Read more »
Students Get Free Coats From Local Law Firm, Fort Worth ISDThe Fort Worth ISD Action Center along with Fort Worth Housing Solutions and a North Texas law group are teaming up to provide students with coats for the winter.
Read more »
No Black jurors selected for murder case against ex-Fort Worth officer Aaron DeanNo Black jurors were selected Friday for the murder trial of ex-Fort Worth police officer Aaron Dean, who shot and killed Atatiana Jefferson, a Black woman...
Read more »
Fort Worth Convention Center hosts Anime Frontier event, screening of ‘Shin Ultraman’Fort Worth Convention Center hosts Anime Frontier by Crunchyroll event Dec. 2-4
Read more »
Jury Selected in Murder Trial of Ex-Fort Worth Officer Charged With MurderA jury has been seated in the trial of Aaron Dean, the ex-Fort Worth police officer charged with the murder of Atatiana Jefferson.
Read more »
USA vs. the Netherlands World Cup watch parties in Dallas-Fort WorthThe US Men's National Team takes on the Netherlands in the Round of 16 on Saturday at 9 a.m. You can watch the game on FOX 4 at home, or there are plenty of watch parties around the area to attend.
Read more »