GENEVA - Swiss pharmaceutical company Novartis AG says it has completed its purchase of Nestle SA's 77 per cent stake in eye care firm Alcon Inc. at a total cost of US$38.7 billion.
Novartis says it bought the 52 per cent still owned by Nestle for $28.3 billion.
The Basel-based company had already acquired 25 per cent of Alcon for $10.4 billion in 2008.
Novartis reiterated Thursday its plans to buy the remaining 23 per cent held by minority shareholders before merging with Alcon.
Some Alcon minority shareholders oppose the move, claiming they are being offered less per share than Novartis paid to Nestle.
Novartis shares were flat at 52.05 Swiss francs ($50.67) on the Zurich exchange.
