Novartis announced plans to overhaul its Alcon division as the eye care unit's weak performance dented group core net profit by 5% in the fourth quarter of 2015. The restructuring at Alcon, along with other measures aimed at the streamlining of Novartis' operations, is expected to result in costs of USD 1.4 billion over the next five years. At the same time, the changes should generate annual savings of USD 1 billion from 2020 onwards.
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