• The Johnson & Johnson of eye care.
• The Stryker for ophthalmology.

• Surgical Instruments and Implants: Devices and consumables used in cataract, vitreoretinal, and glaucoma surgeries, including advanced intraocular lenses (IOLs) and phacoemulsification systems.
• Contact Lenses: A broad portfolio of daily disposable, reusable, and cosmetic contact lenses designed for vision correction and comfort.
• Ocular Health Products: Over-the-counter products such as artificial tears for dry eye relief and solutions for cleaning and disinfecting contact lenses.

Alcon (ALC) Major Customers

Alcon (ALC) primarily operates on a Business-to-Business (B2B) model, selling its surgical and vision care products to a wide range of healthcare providers, institutions, and distributors rather than directly to individuals. Due to the fragmented nature of its customer base across the global healthcare ecosystem, Alcon does not typically disclose specific major customer companies by name in its financial filings, as no single customer or small group of customers accounts for a material portion of its net sales.

However, based on Alcon's stated distribution channels and the structure of the healthcare and optical supply chain, its major customers are broadly categorized as:

1. Healthcare Distributors: These companies act as critical intermediaries, purchasing Alcon's products in bulk and distributing them to hospitals, clinics, and pharmacies.
   • McKesson Corporation (MCK)
   • Cardinal Health, Inc. (CAH)
   • AmerisourceBergen Corporation (ABC)
2. Hospitals and Ambulatory Surgery Centers (ASCs): These institutions directly purchase Alcon's surgical equipment, implants, and consumables for ophthalmic procedures. While sales are to individual facilities, many are part of larger health systems.
   • HCA Healthcare, Inc. (HCA) (operates numerous hospitals and surgery centers that would be customers)
3. Optical Retailers, Chains, and Pharmacies with Optical Services: These businesses purchase Alcon's vision care products, such as contact lenses, lens care solutions, and over-the-counter dry eye products, for resale to individuals.
   • EssilorLuxottica (ESLX.PA) (global leader with brands like LensCrafters, Pearle Vision)
   • Walmart Inc. (WMT) (operates vision centers within its stores)
   • Costco Wholesale Corporation (COST) (operates optical departments)
   • CVS Health Corporation (CVS) (pharmacies selling eye care products)
   • Walgreens Boots Alliance, Inc. (WBA) (pharmacies selling eye care products)

It is important to note that while these public companies represent the types of significant B2B customers and channels through which Alcon's products reach end-users, Alcon's public disclosures do not name them as "major customers" in the sense of comprising a significant percentage of Alcon's total revenue individually.

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David J. Endicott Chief Executive Officer

David J. Endicott is the Chief Executive Officer of Alcon, a role he assumed in July 2018, after joining the company in July 2016 as Chief Operating Officer. He led Alcon's spin-out and return to the public markets. Before joining Alcon, Mr. Endicott served as President of Hospira Infusion Systems, a Pfizer company. During his tenure at Hospira, he was responsible for leading its medical device business through a turnaround, carve-out, and eventual sale. Prior to Hospira, he spent over 25 years at Allergan, Inc., serving as an officer and executive committee member in various leadership roles across Europe, Asia, Latin America, and the US, where he accelerated international growth and built new markets. Mr. Endicott has also served on the Boards of Zeltiq (NASDAQ: ZLTQ) and Orexigen (NASDAQ: OREX).

Tim Stonesifer Chief Financial Officer

Tim Stonesifer has served as Senior Vice President and Chief Financial Officer of Alcon since April 2019, joining the company in conjunction with its separation from Novartis. Prior to Alcon, he was Executive Vice President and Chief Financial Officer at Hewlett Packard Enterprise (HPE) from 2015 through 2018, where he executed two spin-merge transactions valued at over $20 billion and completed 11 acquisitions. Before HPE, he was Senior Vice President and Chief Financial Officer, Enterprise Group at HP Co. since 2014. He also served as Chief Financial Officer of General Motors' International Operations from 2011 to 2014. His previous roles include Chief Financial Officer of Alegco Scotsman from 2010 to 2011, Chief Financial Officer of Sabic Innovative Plastics (formerly GE Plastics) from 2007 to 2010, and various finance positions during his 18 years at General Electric.

Ian Bell Senior Vice President, Chief Operating Officer

Ian Bell is the Senior Vice President, Chief Operating Officer, a role he assumed in September 2024. Before this, he served as President, Global Business & Innovation since 2021, overseeing new product development across Surgical, Vision Care, and Digital Health Solutions. From 2019 to 2021, he was President-International, and he initially joined Alcon in 2016 as President of EMEA.

Franck Leveiller Senior Vice President, Global Research and Development, and Chief Scientific Officer

Franck Leveiller serves as Senior Vice President, Global Research and Development (R&D), and Chief Scientific Officer for Alcon. He joined Alcon in June 2011 as VP and Head of R&D Vision Care, and in June 2015, he took on the role of Head, R&D Surgical Franchise. Prior to Alcon, Mr. Leveiller was the Global Head of R&D at Ciba Vision and held positions at Novartis Pharmaceuticals, AstraZeneca, Aventis, and Rhône-Poulenc Rorer.

Rajkumar Narayanan Senior Vice President, President, International

Rajkumar Narayanan is the Senior Vice President, President, International, overseeing markets including Europe, Russia, Middle East, Africa, Asia Pacific, China, Japan, and the Caribbean. He has led Alcon's International business since 2021. From 2019 until his current appointment, he was Senior Vice President, Operational Strategy and Chief Transformation Officer. Mr. Narayanan joined Alcon in 2017 as President of the Asia Pacific region, following over 20 years at Allergan, Inc., where he held increasing leadership and finance responsibilities across various regions.

The emergence and growing adoption of pharmaceutical eye drops for conditions historically managed by devices, particularly presbyopia-correcting drops. Historically, presbyopia (age-related farsightedness) has been primarily corrected through multifocal contact lenses (a key Alcon product line) or presbyopia-correcting intraocular lenses (IOLs) during cataract surgery. With the FDA approval of pilocarpine HCl ophthalmic solution (e.g., VUITY from AbbVie/Allergan) in late 2021, and other companies developing similar products, a new class of non-invasive, daily pharmaceutical treatments has emerged. This represents a clear threat to Alcon's established market in device-based presbyopia correction, as these drops offer an alternative that could potentially reduce demand for their multifocal contact lenses and certain IOLs.

Surgical

• The global ophthalmic equipment market was valued at US$19.65 billion in 2025 and is projected to reach US$26.14 billion by 2030, growing at a CAGR of 5.9%.
• The global market for ophthalmic devices, diagnostics, and surgical equipment was valued at USD 32.5 billion in 2023 and is expected to reach USD 44 billion by 2028, with a CAGR of 6.30%.
• The global ophthalmic implants market is projected to grow at a CAGR of 7.48%, reaching $8.14 billion by 2030.

Vision Care

• The global Vision Care Market size was valued at USD 146.58 billion in 2025 and is expected to reach USD 246.89 billion by 2033, growing at a CAGR of 6.75% from 2026 to 2033.
• The global contact lenses market size was valued at USD 15.6 billion in 2025 and is projected to reach USD 27.8 billion by the end of 2035, rising at a CAGR of 6% during the forecast period (2026-2035).
• In 2023, the global contact lenses market was valued at USD 10.45 billion and is projected to grow from USD 11.08 billion in 2024 to USD 18.30 billion by 2032, exhibiting a CAGR of 6.5%.
• North America specifically held a 34.45% market share in the contact lenses market in 2023, generating a revenue of USD 3.60 billion.

Alcon (ALC) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Product Innovation and New Product Launches: Alcon continues to invest significantly in research and development to introduce new and enhanced products across its surgical and vision care portfolios. Upcoming and recently launched innovations, such as Precision7 contact lenses, Systane Pro artificial tears, the Unity VCS surgical platform, PanOptix Pro, and TRYPTYR (a first-in-class prescription eye drop for dry eye disease), are anticipated to fuel revenue expansion. The company's pipeline includes numerous products in ophthalmic devices, further underscoring its commitment to bringing cutting-edge solutions to market.
2. Expansion into International and Emerging Markets: Alcon is strategically expanding its presence in high-growth international and emerging markets. These regions, particularly China and India, are identified as significant drivers for growth, especially for implantable lenses and advanced technology intraocular lenses (ATIOLs). The company is actively rolling out new products and aiming to increase market penetration in these areas, leveraging rising demand for advanced eye care.
3. Strategic Acquisitions: Alcon utilizes strategic acquisitions to broaden its product portfolio and extend its market reach. Notable acquisitions include Aurion Biotech in 2024, which bolstered its position in regenerative medicine and corneal cell therapy, and the acquisition of STAAR Surgical (EVO ICL). The STAAR Surgical acquisition is particularly significant as it targets the rapidly expanding myopia correction market and is expected to contribute double-digit revenue growth in this segment, offering cross-selling synergies with Alcon's existing customer base.
4. Growth of Advanced Technology Intraocular Lenses (ATIOLs) and Contact Lenses: Continued strong performance and growth in advanced technology intraocular lenses, particularly in international markets, is a key driver. Additionally, the Vision Care segment benefits from product innovation and consistent price increases in its contact lens portfolio, which has been a consistent contributor to sales growth.
5. Price Increases: Alcon has demonstrated its ability to implement price increases across certain product categories, notably in contact lenses and surgical consumables, contributing to revenue growth.

Share Repurchases

• In February 2025, Alcon's Board of Directors authorized a share repurchase program of up to $750 million, scheduled to be executed over three years. This program aims to offset the dilutive effect of shares vesting under Alcon's equity-based incentive plans.
• During the second quarter of 2025, Alcon returned $287 million to shareholders, which included $121 million through share repurchases.
• The share buyback program, effective from April 1, 2025, to March 31, 2028, specifically targets registered shares listed on the SIX Swiss Exchange, excluding those listed on the NYSE.

Share Issuance

• Alcon reported $0 million in net total equity issued or repurchased for the quarter ending March 31, 2025, and for the twelve months ending March 31, 2025.
• Annual net total equity issued or repurchased was $0 billion for 2024, 2023, and 2022.

Outbound Investments

• In August 2025, Alcon announced an agreement to acquire STAAR Surgical Company in an all-cash transaction valued at approximately $1.5 billion. This acquisition is intended to expand Alcon's presence in the myopia correction market and is projected to be immediately growth accretive and contribute positively to core diluted EPS by the second year.
• During the first three months of 2025, net cash flows used in investing activities amounted to $578 million, primarily driven by the acquisition of a majority interest in Aurion Biotech, Inc. and the acquisition of Cylite Pty Ltd.
• Alcon also announced its intention to acquire LumiThera, Inc., a company focused on a photobiomodulation (PBM) device for treating early and intermediate dry age-related macular degeneration (AMD).

Capital Expenditures

• Alcon's capital expenditures averaged $686.6 million for the fiscal years ending December 2020 to 2024.
• Capital expenditures reached a peak of $1.121 billion in December 2022 and a five-year low of $473 million in December 2024.
• For the first half of 2025, capital expenditures totaled $208 million, primarily allocated to new contact lens manufacturing capacity. In Q1 2025 alone, capital expenditures were $106 million for similar purposes.