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Actavis to Acquire Allergan PDF
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Companies
Tuesday, 18 November 2014

ActavisActavis plc and Allergan, Inc. announced yesterday that they have entered into a definitive agreement under which Actavis will acquire Allergan for a combination of U$129.22 in cash and 0.3683 Actavis shares for each share of Allergan common stock. Based on the closing price of Actavis shares on November 14, 2014, the transaction is valued at approximately U$66 billion, or U$219 per Allergan share. The combination will create one of the top 10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than U$23 billion anticipated in 2015. The transaction has been unanimously approved by the Boards of Directors of Actavis and Allergan, and is supported by the management teams of both companies. Actavis anticipates that the expected permanent financing structure, consisting of a combination of new equity and debt, will support an investment grade rating and provide long-term financing flexibility.

"Today's transaction provides Allergan stockholders with substantial and immediate value, as well as the opportunity to participate in the significant upside potential of the combined company," said David E. I. Pyott, Chairman and CEO of Allergan. "We are combining with a partner that is ideally suited to realize the full potential inherent in our franchise. Together with Actavis, we are poised to extend the Allergan growth story as part of a larger organization with a broad and balanced portfolio, a meaningful commitment to research and development, a strong pipeline and an unwavering focus on exceeding the expectations of patients and the medical specialists who treat them. I am thankful for the hard work and dedication of our employees, and I'm confident they will make many valuable contributions to the combined company. Looking to the immediate future, all of us at Allergan are excited to roll up our sleeves and work closely with the Actavis team to ensure a smooth transition."

Actavis plc is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. Actavis has global headquarters in Dublin, Ireland and U.S. administrative headquarters in Parsippany, New Jersey, USA. Actavis develops and manufactures generic, brand, branded generic, legacy brands and Over-the-Counter (OTC) pharmaceutical products and has commercial operations in approximately 60 countries.

 
Alcon Division of Novartis Reports Solid Growth PDF
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Companies
Thursday, 13 November 2014

Novartis delivered solid sales growth with strong margin expansion and net sales up 4% (+5% cc) in 2014 Q3, with operating margin increase across Q3.

Novartis' Alcon division net sales grew 4% (+5% cc) to USD 8.1 billion in the first nine months of 2014. Surgical franchise sales advanced 6% (+7% cc), driven by strong sales of equipment, led by the launch of Centurion, the continued growth of LenSx, and cataract and vitreoretinal disposables. Growth in Ophthalmic Pharmaceuticals (+2%, +4% cc) was driven by Systane, Ilevro, and fixed-dose combination products in glaucoma, offset by weak allergy and otic seasons in the US and Japan. Vision Care (+3%, +3% cc) benefitted from launches of innovative contact lenses, offset by declining contact lens care sales.

Alcon operating income increased 16% (+24% cc) to USD 1.2 billion, driven by operational performance as well as the ending of integration charges in 2013. Core operating income was 2.9 billion (+3%, +6% cc). Core operating income margin in constant currencies increased by 0.2 percentage points; currency had a negative impact of 0.6 percentage points, resulting in a net decrease of 0.4 percentage points to 35.9% of net sales.

On October 26, 2014, Novartis announced it has entered into a definitive agreement to divest its influenza vaccines business to CSL Limited (CSL), Australia for an agreed price of USD 275 million. This transaction is expected to be completed in the second half of 2015, subject to all necessary regulatory approvals. Until this transaction is completed, Novartis will continue to operate the influenza vaccines business and report its results under discontinuing operations. The influenza vaccines business will be reported together with the non-influenza vaccines business until such time as the non-influenza vaccines business is divested to GSK as part of the previously announced transaction.

 
Safilo Reports Increase in Total Sales for Q3 PDF
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Companies
Friday, 07 November 2014

In the third quarter, Safilo confirmed the increase in sales at constant exchange rates of 7.4% already recorded in the second quarter, taking the first nine-months' top line growth to 5.5%. Economic results were also in line with the business dynamics that characterized the first part of the year, with the gross profit margin for the first nine months at 62.3%, after a further progression registered by the same profit margin in the third quarter compared to the corresponding period of 2013.

However, in Asia, the third quarter ended for Safilo with revenues of Euro 32.8 million compared to Euro 34.1 million in the same period of 2013 (-3.7% at current exchange rates, -4.6% at constant exchange rates). In the first nine months of the year, the company's Asian business recorded revenues of Euro 125.2 million compared to Euro 130.4 million in the first nine months of 2013 (-4.0% at current exchange rates, -0.9% at constant exchange rates).

 
Danish FLEYE Eyewear Wins Design Award for Carbon Collection PDF
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Companies
Wednesday, 05 November 2014

FLYEYE Good Design Award 2014Danish eyewear company FLEYE has won the most prestigious design award in Japan, the Good Design Award 2014, for its latest carbon eyewear collection. The frames consist of 24 paper-thin layers of carbon fibre.

Carbon fibre material is light as air yet very strong. It is used in Formula 1 racing cars, aircraft, luxury yachts - and now in the new FLEYE eyewear. Although the material is lightweight and strong it cannot easily be adjusted. In order to ensure a world-class comfort and perfect fit, flexible Japanese beta-titanium is used for temples and for the thin wire that loops across the nose bridge of the FLEYE carbon collection. The wire holds nose pads and can be adjusted to fit any. Colourful temples and wire serve as an eye-catching and sophisticated contrast to the dark carbon fibre.

 
Marcolin To Double In-House Made In Italy Production and Signs JV for China PDF
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Companies
Tuesday, 04 November 2014

MarcolinEyewear company Marcolin has announced the acquisition of a new 3.500m2 manufacturing facility in Longarone (Fortogna area), in the heart of the eyewear district. This move is in line with its mid-long term strategy of creating value leveraging on the opportunities offered by the development of high-end products, consistent with Marcolin's historical DNA. Company's employment will strongly benefit of this operation as well.

The new site, starting operations from mid-2015, will double Marcolin's in-house Made in Italy production: this is the answer to structural good sales' performance and, on top, to the opening of new directly managed markets mixed with new highly recognized brands in the portfolio.

The company has recently signed license agreements with fashion and luxury brands like Ermenegildo Zegna, Zegna Couture and Emilio Pucci, all of which (in addition to Tom Ford, Montblanc, Balenciaga, Roberto Cavalli, Dsquared2 and Diesel) have a policy of developing and manufacturing their products in Italy, and whose superior creativity and quality are perfectly expressed by the local artisan tradition.

Marcolin's CEO Giovanni Zoppas said: "To us, Made in Italy is a vital strategic asset and finalizing this investment in Longarone, the area where Marcolin’s history began, is one more reason to feel proud of it."

Furthermore, Marcolin and Ginko Group, a longstanding operator in the Chinese eyewear market, recently announced the incorporation of a joint venture (JV) for the Chinese market. Purpose of the deal is to improve the partners' presence in Mainland China and to expand and strengthen the development of direct distribution of Marcolin products in the region. GINLIN Optical Shanghai Ltd Co., the name of the new joint venture, is a Shanghai-based company owned on a 50/50 basis by Marcolin and the Ginko Group.

Marcolin's CEO Giovanni Zoppas said: "I'm very proud and excited to enter into this joint venture. Ginko Group and Marcolin have a very complementary background and attitude: the two of us are longstanding in the industry and reliable partners for their respective clients. That's why I'm sure this joint venture will deliver extra-value to the Chinese eyewear market."

Ginko Group's President Kuo Chou Tsai declared: "Starting business in China since year 1992, Ginko Group has been conducting quality commodity, good service and innovation as the target of enterprises. It's our honour to cooperate with Marcolin, a worldwide leading eyewear company, to provide suitable pattern and reasonable price commodity for our Chinese customers. We believe this joint venture will be a win-win cooperation and create successful benefit to both sides."

 
Luxottica Announces Decreased Retail Performance in Australia and New Zealand PDF
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Companies
Friday, 31 October 2014

Luxottica has announced solid growth in net sales and profitability in the third quarter of 2014 and record free cash flow. Luxottica's adjusted net sales are up by 6.8% (+ 5.5% on a reported basis) and its wholesale division's net sales are up by 9.3%, at constant and current exchange rates. The retail division's comparable store sales are up by 4.4% with LensCrafters comparable store sales up by 2.5%, accelerating versus the second quarter. However, Luxottica's optical specialty chains in Australia and New Zealand reported a slightly decreased performance in comparable store sales, as a consequence of a more competitive and promotional environment. Sunglass Hut, the company's sun specialty chain, continued to contribute significantly, reporting a 7.4% increase in comparable store sales in the third quarter of 2014 on a global basis, after growing by 8.3% in the first half of the year. Contributions came from all geographic areas in which Sunglass Hut is located, including Australia and New Zealand.

Overall adjusted operating income for the company is up by 16.1% while adjusted net income increased by 17.5%, to Euro 173 million.

 
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