Novartis, a Swiss multinational pharmaceutical company, conducted a spin-off of Alcon, its eye care devices business, through a dividend-in-kind distribution to holders of Novartis shares and ADRs, with each holder receiving 1 Alcon share for every 5 Novartis shares or ADRs held on April 8, 2019, at the close of business. "This is an incredibly exciting day for both Novartis and Alcon. Alcon has demonstrated consistent growth, and is coming to market from a position of strength. We wish them the very best for the future. At Novartis, we continue to reimagine ourselves as a leading medicines company powered by breakthrough medicines, data science and advanced therapy platforms. We are well positioned for the future and I am excited for our associates, our investors, and most importantly for patients," Vas Narasimhan, Novartis CEO.