Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €53.20, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 18x in the Medical Equipment industry in Italy. Total loss to shareholders of 37% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €84.18 per share. New Risk • May 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.7% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Announcement • May 02
Alcon Inc. Elects R. Scott Herren as New Independent Member of the Board Alcon Inc. at its Annual General Meeting of 2026 elected R. Scott Herren as new independent member of the Board. Upcoming Dividend • Apr 28
Upcoming dividend of CHF0.28 per share Eligible shareholders must have bought the stock before 05 May 2026. Payment date: 07 May 2026. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (2.3%). Board Change • Apr 14
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Independent Director Deborah DiSanzo Eldracher was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
Alcon Inc Launches Clareon Truplus Enhanced Design Monofocal And Toric IOLs Alcon Inc. announced the U.S. launch of Clareon TruPlus, its new enhanced design monofocal and toric intraocular lens (IOL), at the American Society of Cataract and Refractive Surgery (ASCRS) Annual Meeting in Washington, D.C. TruPlus expands Alcon’s Clareon portfolio, offering surgeons an enhanced design IOL, enabling increased depth of focus without compromising the high-quality distance vision they expect from a monofocal IOL. Based on bench data, TruPlus has a number of differentiating features over Clareon Monofocal and the leading competitor IOL. TruPlus demonstrates a 3.5 letter improvement in simulated visual acuity at -1.5 diopters (66 cm) compared to Clareon Monofocal. TruPlus offers higher distance image quality than TECNIS Eyhance across a range of pupil sizes and lighting conditions. TruPlus exceeds the ISO upper requirement for distance image quality. TruPlus demonstrates a lower glare and halo profile than TECNIS Eyhance. TruPlus leverages proprietary Opti-Balance Technology in the center of the lens to slightly extend the depth of focus. This innovative design boosts light energy for an increased depth of focus, while maintaining exceptional distance image quality and a wide refractive landing zone. With more than 175 million IOLs implanted globally, TruPlus joins Alcon’s portfolio of Clareon IOLs that includes the number one monofocal; Vivity, the extended depth of focus IOL; PanOptix Pro and PanOptix, the trifocal IOL. TruPlus will launch in additional markets later this year. At ASCRS, Alcon will also feature more than 60 scientific presentations and peer-to-peer educational symposia. Studies presented include First Clinical Experience with a Novel Phacoemulsification System, Anterior Chamber Stability of a Novel Phacoemulsification System Assessed by Intraoperative OCT and Surgical Microscope Video, Prospective Intraindividual Comparison of Functional Outcomes After Automated Customized Ray Tracing Guided vs. Wavefront Optimized LASIK, Perioperative Benefits of a Personalized LASIK Approach Using 3D Ray Tracing Technology: A Modified Delphi Study, High Tear Production Responder Rates Associated with the Novel TRPM8 Agonist Acoltremon: Phase 3 COMET2 and COMET3 Results, Tear Volume and Total Lipid Concentration Following Administration of Acoltremon 0.003%, Optical Bench Comparison of Two Enhanced Monofocal IOLs, and Direct Comparison of the Visual Disturbances Induced by Two Enhanced Monofocal IOLs. The Clareon Family of Lenses are artificial lenses implanted in the eye of adult patients following cataract surgery. The Clareon TruPlus IOLs are designed to allow for clear distance vision. The Clareon TruPlus Toric IOLs are designed to correct pre-existing corneal astigmatism, which is the inability of the eye to focus clearly at any distance because of different curvatures on the cornea, and provide distance vision. These IOLs are intended for placement in the capsular bag. Careful preoperative evaluation and sound clinical judgment should be used by the surgeon to decide the risk/benefit ratio before implanting any IOL in a patient with any of the conditions described in the Directions for Use that accompany each IOL. Prior to surgery, physicians should provide prospective patients with a copy of the Patient Information Brochure available from Alcon, informing them of possible risks and benefits associated with these IOLs. Reference the Directions for Use labelling for each IOL for a complete listing of indications, warnings and precautions. Declared Dividend • Apr 05
Dividend of CHF0.28 announced Shareholders will receive a dividend of CHF0.28. Ex-date: 5th May 2026 Payment date: 7th May 2026 Dividend yield will be 0.4%, which is lower than the industry average of 1.7%. Payout Ratios Payout ratio: 18%. Cash payout ratio: 11%. Announcement • Apr 03
Alcon Inc. announces Annual dividend, payable on May 07, 2026 Alcon Inc. announced Annual dividend of CHF 0.2800 per share payable on May 07, 2026, ex-date on May 05, 2026 and record date on May 06, 2026. Announcement • Mar 30
Sight Sciences Inc Secures Order on Post-Trial Motions That Preserves the Jury’s Verdict and Awards Monetary Damages Against Alcon Inc Sight Sciences, Inc. had announced that the U.S. District Court for the District of Delaware issued an order on post-trial motions in Sight Sciences’ patent infringement case against Alcon Inc., Alcon Vision, LLC, Alcon Research, LLC, and Ivantis, Inc. (collectively, Alcon) originally filed on September 16, 2021, that preserved the jury’s verdict of willful infringement. Sight Sciences asserted that Alcon’s sale of the Hydrus Microstent infringed three Sight Sciences patents. The Court’s order was entered on March 27, 2026. The order did not disturb the jury’s verdict that Alcon willfully infringed all three of Sight Sciences’ asserted patents and awarded monetary damages of $34 million, plus supplemental damages and interest, for past infringement, plus an ongoing royalty of 10% of Hydrus revenue through November 10, 2028, the date of expiration of Sight Sciences’ last asserted patent. A final judgment is expected to be entered by the Court in the coming months after supplemental damages and pre-judgment interest have been calculated. The Court’s final judgment is subject to appeal by Alcon. The patents at issue were U.S. Patent Nos. 8,287,482, 9,370,443, and 11,389,328. The past monetary damages are comprised of $5.5 million in lost profits and $28.5 million in royalty damages for Hydrus sales for the period commencing from its commercial launch through the jury verdict, plus pre-judgment and post-judgment interest and supplemental damages for Hydrus sales during the period between the jury’s verdict and the Court’s entry of the final judgment, in amounts to be determined after Alcon produces supplemental financial data. The final judgment, if upheld, would entitle Sight Sciences to ongoing royalties at a rate of 10% of revenue for each Hydrus sold for the period after entry of the final judgment through the expiration of the last asserted patent, which is set to expire on November 10, 2028. The final judgment is subject to appeal, and may be affected by ex parte reexamination proceedings filed by Alcon in front of the U.S. Patent and Trademark Office. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: US$1.99 (vs US$2.06 in FY 2024) Full year 2025 results: EPS: US$1.99 (down from US$2.06 in FY 2024). Revenue: US$10.4b (up 4.9% from FY 2024). Net income: US$980.0m (down 3.7% from FY 2024). Profit margin: 9.4% (in line with FY 2024). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Medical Equipment industry in Italy. Announcement • Feb 17
Alcon Launches Total30 Multifocal for Astigmatism, the Monthly Multifocal Toric Contact Lens with Water Gradient Technology Alcon announced the U.S. launch of TOTAL30®? Multifocal for Astigmatism, the world's only multifocal toric contact lens with Water Gradient Technology, helping patients stay in lenses comfortably,+ as their vision changes from standard correction to age-related presbyopia. These lenses provide excellent end-of-day comfort with wearers rating nearly 8/10, even on day 30, providing patients clear, seamless and stable vision at all distances, near through far. The lenses are now available across the U.S., enabling Eye Care Professionals (ECPs) to offer them to patients nationwide. As the contact lens patient population ages, the need for multifocal toric contact lenses continues to grow. However, the current multifocal toric segment remains underdeveloped, offering ECPs limited contact lens options to recommend. Presently, contact lens drop-out rate is four times higher in presbyopes versus wearers below age 40 due to comfort.4-6 Ast paradigm presbyopic patients also have fewer choices to stay in contact lenses. These factors contribute to the lower adoption rate of multifocal toric contact lenses -- just 7% of ast spherical presbyopes are prescribed contact lenses only. Total30 Multifocal for Ast Astigmatism contact lenses combine unique lens material and leading optical designs to provide astigmatopes with unmatched benefits at a comfortable price, including: Water Gradient Material: Featuring nearly 100% water at the surface,+ so nothing touches the eye but a gentle corrosion of moisture. PRECISION PROFILE®?: The leading optical design for presbyopia correction in the world. PRECISION BALANCE 8|4®?: Delivering the on-eye stability astigmats need for consistent, stable vision. CELLIGENT™? Technology: The biomimetic contact lens surface that helps resist bacteria and lipid deposits, providing patients with an inherently+ clean lens.11-14+ UV Blocking and Blue-Violet Light Filtering: TOTAL30 is the only monthly replacement contact lens family providing Ultraviolet blocking# and Blue-Violet Light filtration. In clinical assessments, patients wearing TOTAL30Multifocal for Astigmatism reported clear 20/20 vision, offering seamless vision at all distances for early, moderate and advanced presbyopia.1 Most notably, ECPs also rated ease of fit 9/10 and the broad range of diopters accommodates nearly 90% of astigmatopes.10,15 Additionally, the PRECISION PROFILE and PRECISION BALANCE 8 |4 innovations made meaningful contributions to the reported 97% success rate for first-lens fit. Board Change • Feb 13
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Independent Director Deborah DiSanzo Eldracher was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 03
Alcon Debuts PRECISION7 in Canada, A One-Week Replacement Contact Lens to Start and End Every Week Fresh Alcon announced the Canadian launch of PRECISION7 sphere and toric, the only one-week replacement contact lens with the revolutionary ACTIV-FLO System that provides 16 hours of outstanding comfort and precise vision, even on day 7.1 The lenses will be commercially available in Canada in February. While nearly nine out of ten Eye Care Professionals (ECPs) believe daily disposable lenses are better overall for their patients, more than half of new patients are still being fit in reusable lenses due to cost consideration. Most optometrists agree that a one-week contact lens replacement schedule would be more intuitive for patients, as compared to a two-week replacement schedule. PRECISION7 offers a breakthrough in comfort performance and an easy to remember replacement schedule when daily disposables are not an option. The innovation of the ACTIV-FLO System in PRECISION7 is a unique combination of a water-loving moisturizing agent embedded in the lens matrix and a proprietary replenishing agent that is continually released to moisturize the surface for 7 days. With PRECISION7, patients can pick their preferred day of the week to replace their contact lenses to start and end every week fresh. The launch of PRECISION7 marks the newest addition to the Alcon Water Innovations portfolio of contact lenses. PRECISION7 sphere and toric will be available in Canada beginning February 2, 2026. See product instructions for complete wear, care, and safety information. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: US$0.48 (vs US$0.53 in 3Q 2024) Third quarter 2025 results: EPS: US$0.48 (down from US$0.53 in 3Q 2024). Revenue: US$2.61b (up 6.5% from 3Q 2024). Net income: US$237.0m (down 9.9% from 3Q 2024). Profit margin: 9.1% (down from 11% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Italy. Announcement • Sep 16
Alcon Announces New Time and Motion Study Results Supporting Superior Efficiency for Cataract and Vitreoretinal Surgery with UNITY VCS Alcon announced results from time and motion studies demonstrating superior efficiency with UNITY®? Vitreoretinal Cataract System (VCS) for vitreoretinal and cataract surgery compared to CONSTELLATION®? Vision Systemand CENTURION®? Vision System with ACTIVE SENTRY®?. The studies were presented during the 25thEuretina Congress (Paris; 4-7 September), The Retina Society's 58th Annual Scientific Meeting (Chicago; 10-13 September) and the 43rdCongress of the European Society of Cataract and Refractive Surgeons (ESCRS; Copenhagen; 12-15 September). Vitreoretinal and catar act ORs are facing multiple challenges. Globally, the number of age-related macular degeneration (AMD) and diabetic retinopathy patients will increase 46.9% and 55% by 2040 and 2045, respectively. Additionally, between 1990 and 2021, the global prevalence of cataracts increased by nearly 138% from 42.3 million to 100.5 million.8 These patient populations are also contending with a 12% decline in othalmologists worldwide, leaving fewer Eye Care Professionals to keep up with the growing demand.9 Surgical technologies that can help fill these gaps by supporting workflow efficiencies are critical, and Alcon's latest clinical studies demonstrate commitment to generating these solutions. The first study--a prospective, observational, controlled, multi-site time and motion study (total n=179 surgical cases--used objective, videography-based measurements to directly compare UNITY VCS (n=92) against the CONSTELLATION Vision System (n=87) in vitreoretinal surgery. Investigators assessed the duration of console set-up, intraoperative time and tear-down time of 25-gauge (Ga) vitrectomy surgeries. Study results demonstrated UNITY VCS provides a 16% efficiency gain in overall workflow. UNITY VCS provides statistically significant efficiencies in console set-up (33%) and tear-down (38%). The second study presented--an observational, pre-post, multi-site time and Motion analysis evaluated console setup and full procedure turnover for cataract surgeries (total n=303 patients) using UNITY VCS with either the Intelligent Sentry handpiece or the ACTIVE SENTRY handpiece (n=142), compared to the CENTURIONVision System with ACTIVE SENTry handpiece (n=161). The results of the study demonstrate that UNITY VCS reduces cataract surgery turnover time by 6%. In addition, reductions in total energy into the eye (35%) and ultrasound time (8%), were observed. Board Change • Sep 10
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Independent Director Deborah DiSanzo Eldracher was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 08
Alcon Launches Innovations and Highlights New Study Findings At ESCRS 2025 Alcon will present compelling scientific data at the 43rdCongress of the European Society of Cataract and Refractive Surgeons (ESCRS) in Copenhagen, Denmark from 12-15 September. During the meeting, Alcon will showcase groundbreaking cataract, refractive and glaucoma technologies at booth C2.033. More than 40 studies will also be presented at the meeting, demonstrating the benefits of Alcon technologies. In addition, Alcon will host a number of symposia and activities, which are detailed at MyAlcon.com. Voyager DSLT simplifies selective laser trabeculoplasty (SLT) by streamlining practice workflows and is designed to deliver an exceptional experience for patients, helping accelerate the adoption of laser as a first-line therapy.18-22 Intelligent Service Solutions (ISS)--launches globally, transforming Alcon Services, designed to maximize customer productivity by enabling remote diagnostics and software updates. The new ISS customer portal provides a comprehensive dashboard view of Alcon devices--housing warranty information, contract details and a device connectivity overview. New results being presented at ESCRS add to its robust body of evidence of more than 10 clinical studies in 700+ patients demonstrating positive outcomes and/or patient satisfaction following Vivity IOL implantations in special populations, including: Dr. Antonio Cartabellotta will present spectacle independence and dys photopsia data in cataract patients with early-to-intermediate dry AMD. e-Poster On demand. Dr. Erika Bonacci will present findings from bilateral implantation in cataract patients with mild corneal irregularities such as keratoconus. Dr. Daniel Schartmuller will showcase results of EDOF IOL implantation in patients with mild irregular astigmatism. New data will be presented on UNITY VCS as well as studies highlighting the benefits of operating at more physiologic IOP, including reduced breakthrough pain medication use. Dr. Vance Thompson will present early single-arm data from UNITY VCS demonstrating accurate IOP control, with validation and verification supported by video analysis. e-Poster Ondemand. Dr. Hisaharu Suzuki will showcase anterior chamber stability during cataract surgery using UNITY VCS compared to CENTURION with Active Sentry. Dr. Matthew Rauen will showcase data on patient comfort and intraoperative medications when operating at more physiologic Iop during cataract surgery with CENTURION with Active SentRY. In refractive, Alcon will present wavelight plus head-to-head data, revealing better outcomes versus more commonly used technologies: Dr. John Kanellopoulos will highlight results supporting superior visual outcomes with ray-tracing-guided LASIK using Alcon's wavelight plus, compared to lenticule extraction (SMILE Pro, Zeiss) for myopia correction. Announcement • Sep 04
Alcon Inc. (SWX:ALC) acquired LumiThera, Inc. Alcon Inc. (SWX:ALC) announced its intention to acquire LumiThera, Inc. on July 7, 2025. The transaction includes LumiThera's Photobiomodulation Device for the Treatment of Early and Intermediate Dry Age-Related Macular Degeneration, but does not include the acquisition of AdaptDx and Nova/Diopsys diagnostic devices, which will be separated and spun-off to LumiThera’s shareholders prior to Alcon’s acquisition.
The transaction is subject to customary closing conditions and approval of offer by LumiThera's shareholders. The expected completion of the transaction is in the third quarter of 2025. Faiz Ahmad, A. Caroline M.Frizzo, Moshe Spinowitz, Resa Schlossberg, Timothy Nelson, Ryne Posey, Maya Florence of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Alcon Inc. (SWX:ALC).
Alcon Inc. (SWX:ALC) completed the acquisition of LumiThera, Inc. on September 3, 2025. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: US$0.35 (vs US$0.45 in 2Q 2024) Second quarter 2025 results: EPS: US$0.35 (down from US$0.45 in 2Q 2024). Revenue: US$2.60b (up 4.0% from 2Q 2024). Net income: US$176.0m (down 21% from 2Q 2024). Profit margin: 6.8% (down from 8.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Medical Equipment industry in Italy. Announcement • Aug 19
Alcon Underscores Benefits of Its IOLs and Cataract Surgical Equipment At APACRS Alcon announced a strong presence at the 37th Asia-Pacific Association of Cataract and Refractive Surgeons (APACRS) Annual Meeting. APACRS will be held at Mahatma Mandir Convention and Exhibition Centre (MMCEC) in Ahmedabad, India from August 21-23, 2025. The company will showcase four symposia, lead 10 medical affairs scientific exchange presentations, and offer a hands-on experience zone at booth #A1). These comprehensive activities combined with new data underscore Alcon's commitment to generating meaningful scientific evidence on the safety and efficacy of its innovations. Key data being presented at this year's event: Alcon's Vivity®? is an extensively studied Extended Depth of Focus (EDOF) intraocular lens (IOL) in special populations with different co-morbidities, supported by over 10 clinical studies involving more than 700 patients. Among these is a prospective study titled, 'To Evaluate The Visual Outcomes and Patient satisfaction After Bilateral Vivity®? IOL Implantation in Patients with Mild Ir regular Astigmatism.' Conducted by Dr. Ashvin Agarwal, analyses reinforce patient satisfaction outcomes with Vivity in this specific cohort. (Friday, 22 August 2025, 15:20pm-15:25pm, at FFP3-15, Seminar Hall 2, MMCEC). Board Change • Aug 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. Independent Chairman Mike Ball was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. Independent Director Rocky Bono was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 08
Alcon's Latest Breakthrough Surgical Technology, Unity VCS, Receives Health Canada Approval Alcon announced that UNITY®? Vitreoretinal Cataract System (VCS) has received Health Canada approval. This innovation is the first to be introduced from Alcon's highly anticipated Unity portfolio. Unity VCS is Alcon's most advanced vitreoretinal and cataract surgical innovations combined together in one integrated platform. Unity VCS is designed to deliver enhanced workflow efficiencies over Alcon's current systems, CONSTELLATION®? Vision System for vitreoretinal and combined procedures, and CENTURION®? Vision System with ACTIVE SENTRY®? for cataract surgery. Unity VCS leverages a novel phacoemulsification modality to deliver up to two times faster nucleus removal with 40% less energy into the eye, and a first-of-its-kind phaco handpiece that estimates temperature at the incision site3. In vitreoretinal advancements, the new technology offers cutting speeds of up to 30,000 cuts per minute, the world's fastest vitrectomy probe#,2,3. The platform offers surgical stability and efficiency with a unique proprietary fluidics system. Alcon has tested Unity VCS during investigational advisory wet lab sessions with more than 200 highly experienced surgeons from 30+ countries. Commercial launch of Unity VCS is expected in early 2026. Unity VCS is the latest innovation from the Alcon Vision Suite--a portfolio of innovative products designed to help Eye Care Professionals increase clinic and OR efficiency, and deliver exceptional patient experiences. The Alcon Vision Suite will continue to grow with cutting-edge Unity products that are expected to be introduced over the coming years, adding to market-leading legacy products, which will continue to be available and serviceable. Unity VCS will be supported by Alcon's training, product maintenance, and Services teams. Announcement • Jul 07
Alcon Inc. (SWX:ALC) announced its intention to acquire LumiThera, Inc. Alcon Inc. (SWX:ALC) announced its intention to acquire LumiThera, Inc. on July 7, 2025. The transaction includes LumiThera's Photobiomodulation Device for the Treatment of Early and Intermediate Dry Age-Related Macular Degeneration, but does not include the acquisition of AdaptDx and Nova/Diopsys diagnostic devices, which will be separated and spun-off to LumiThera’s shareholders prior to Alcon’s acquisition.
The transaction is subject to customary closing conditions and approval of offer by LumiThera's shareholders. The expected completion of the transaction is in the third quarter of 2025. Faiz Ahmad, A. Caroline M.Frizzo, Moshe Spinowitz, Resa Schlossberg, Timothy Nelson, Ryne Posey, Maya Florence of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Alcon Inc. (SWX:ALC). Announcement • Jun 20
Alcon Introduces Clareon PanOptix Pro in Canada, Delivering Low Light Scatter of Any Trifocal IOL Alcon announced the approval of Clareon®? PanOptix®? Pro intraocular lens (IOL) for cataract patients in Canada. PanOptix Pro leverages proprietary ENLIGHTEN®? NXT Optical technology which delivers the lowest light scatter and highest reported light utilization of any trifocal IOL.1-3,5-9,+, PanOptix Pro provides an unprecedented 94% light utilization, compared to a theoretical maximum utilization of 96% for diffractive optics.1-4,4, These enhancements also provide more uninterrupted light distribution from distance to near, and a 16% increase in optical image contrast between distance and intermediate.1,++,++ PanOptix Pro builds on the clinically-proven low visual disturbance profile, high spectacle independence and exceptionally high patient satisfaction of PanOptix.10-13,SS,SSSS,SSSS,SS SS,SSSS,SSSS. PanOptix Pro will be available in Canada from Alcon in the single-use Clareon AutonoMe®? preloaded delivery system and as well as with the Clareon Monarch®? IV delivery system in early 2026.22 PanOptix Pro offers a +2.17 diopter intermediate and a +3.25 diopter near add power. Like all Alcon IOLs, PanOptix Pro will be availability with blue light and ultraviolet filtering.22 For surgeons interested in more information on PanOptix Pro, please speak to a local Alcon representative. The Clareon PanOptix Pro Trifocal IOL is a type of multifocal IOL used to focus images clearly onto the back of eye (retina) to allow clear vision after the cataract removal. In addition, the center of the Clareon PanOptix ProTrifocal IOL allows for better near (reading) vision and intermediate (computer work) vision versus what a monofocal lens would provide. Please consult the directions for Use regarding indications, precautions, precautions and warnings which is available at ifu.alcon.com. Announcement • May 29
Alcon Announces FDA Approval of TRYPTYR (acoltremon Ophthalmic Solution) 0.003% for the Treatment of the Signs and Symptoms of Dry Eye Disease Alcon announced the U.S. Food and Drug Administration (FDA) has approved TRYPTYR®? (acoltremon ophthalmic solution) 0.003%, formerly known as AR-15512, for the treatment of signs and symptoms of Dry Eye Disease (DED). TRYPTYR is a first-in-class TRPM8 receptor agonist (neuromodulator) that stimulates corneal sensory nerves to rapidly increase natural tear production. DED is a complex, multifactorial condition driven by a deficiency in natural tears, whether due to decreased tear production or increased tear evaporation.5-7 Many commonly used DED treatment options have limitations, including slow onset, patient dissatisfaction and poor adherence.8-14 Among surveyed dry eye patients, only 13% felt their dry eye was well managed. This approval is supported by two Phase 3 clinical trials evaluating more than 930 patients (randomized 1:1 to TRYPTYR or vehicle) with a history of DED.1-2 In COMET-2 and COMET-3, up to four times more TRYPTYR patients experienced at least a 10mm increase in natural tear production at Day 14, compared to vehicle, 42.6% versus 8.2% of patients in COMET-2 and 53.2% versus 14.4% in COMET-3 (both p TRYPTYR (acoltremon o eye solution) 0.003% is indicated for the treatment of the signs and symptoms of dry eye disease (DED). Lenses may be reinserted 15 minutes following administration of TRYPTYR. In clinical trials, the most common adverse reaction was instillation site pain (50%). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: US$0.71 (vs US$0.50 in 1Q 2024) First quarter 2025 results: EPS: US$0.71 (up from US$0.50 in 1Q 2024). Revenue: US$2.47b (flat on 1Q 2024). Net income: US$350.0m (up 41% from 1Q 2024). Profit margin: 14% (up from 10% in 1Q 2024). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Medical Equipment industry in Europe. Announcement • May 14
Alcon Inc. Revises Earnings Guidance for the Year 2025 Alcon Inc. revised earnings guidance for the year 2025. For the year, the company expects net sales to be $10.4 billion to $10.5 billion against previous forecast of $10.2 billion to $10.4 billion; Core diluted EPS to be $3.00 to $3.15 against previous forecast of $3.15 to $3.25. Board Change • May 13
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. Independent Director Rocky Bono was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
