Alcon completes $550 million Neurotech acquisition to enter MacTel treatment

Alcon ($ALC) has acquired Neurotech for $550 million, with additional payments dependent on commercial milestones. The transaction adds ENCELTO, a cell-based ocular therapy for adults with macular telangiectasia type 2. The product received its first FDA approval in March 2025; the new development is Alcon’s completed acquisition, not a fresh regulatory decision. The size of the contingent payments was not disclosed.

The purchase expands Alcon’s retinal-treatment business and brings a product targeting a US population of approximately 25,000 diagnosed patients. That population estimate is not a forecast of treatment uptake or sales. Alcon expects the acquisition to make a modest positive contribution to 2027 net-sales growth while slightly diluting core earnings per share, with earnings accretion anticipated thereafter. Commercial execution and the pace of adoption will determine whether those expectations are achieved.

Sources:

• Alcon — Business Wire acquisition announcement
• Issuer release — timestamped reproduction