Alcon’s intraocular lens (IOL) and contact lens products have delivered in the company’s latest financial results, as it reported nearly $5 billion (AU$7.4 b) in sales for the first half of 2024.
The Swiss-based multinational – best known for manufacturing intraocular lenses, surgical equipment, contact lenses and eye drops – reported its financial results for the three- and six-month periods ending 30 June 2024.
Sales for the first half of 2024 were $4.9 billion (AU$7.2 b), an increase of 4% on a reported basis and 7% on a constant currency basis, compared to the first half of 2023.
For the second quarter (Q2) of 2024, revenue reached $2.5 billion (AU$3.7 b), up 3% on a reported basis and 6% on a constant currency basis compared to Q2 2023.
“We are pleased with our solid second-quarter results, which were driven by robust demand for our innovative products, our balanced geographic footprint and strong execution by our team. These factors contributed to another quarter of sales and earnings growth and robust cash generation,” said Alcon CEO Mr David Endicott.
“As we look to the second half of the year, our focus will be on preparing for product launches that will position us well for our next phase of growth in 2025 and beyond.”
Breaking down the figures, net sales for Alcon’s surgical business in the first six months of 2024 were $2.8 billion (AU$4.1 b). This includes its IOL portfolio with premium products such as Vivity and PanOptix, as well as refractive laser systems and surgery consumables. The figure represents 3% on the first half of 2023, and 6% on a constant currency basis.
For Q2 2024, surgical net sales were $1.4 billion (AU$2.1 b), growing at a similar rate to the first half results.
Within the surgical business, consumables were the strongest earner in Q2 with $736 million (AU$1.1 b), an increase of 3%, driven by cataract and vitreoretinal consumables, particularly in international markets, and price increases.
But implantables, including IOLs and the Hydrus Microstent for glaucoma, was the strongest performer growth-wise, rising 6% to $464 million (AU$683 m).
“Growth was led by advanced technology intraocular lenses in international markets,” Alcon stated.
Equipment/other net sales were $223 million, (AU$328 m) a decrease of 3%.
Contact lens contribution
Meanwhile, growth in Alcon’s vision care business, which include contact lenses and ocular health, was spearheaded by its contact lens products.
For the first half of 2024, vision care net sales rose 6% to $2.2 billion (AU$3.2 m) on a reported basis and 8% on a constant currency basis.
For Q2 2024, this number was $1.1 billion (AU$1.6 b). This is 4% above Q2 2023 on a reported basis and 6% on a constant currency basis.
“Contact lenses net sales were $636 million (AU$936 m), an increase of 7%, driven by product innovation, including our toric and multifocal modalities, and price increases,” the company noted.
“Growth was partially offset by unfavourable currency impacts of 2%. Contact lenses net sales increased 9% constant currency.”
Ocular health net sales were $423 million (AU$622 m), a decrease of 1%. Excluding unfavourable currency impacts of 3%, Alcon said ocular health net sales increased 2% in constant currency.
“This constant currency growth was primarily driven by the portfolio of eye drops, including continued strength from the Systane family of artificial tears,” the company said.
More information can be found here.
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