By Simon Ferdinand Eibach and Bartosz Dabrowski
(Reuters) -Shares in Alcon fell as much as 11.6% on Wednesday after the Swiss-American eye care group cut its 2025 sales outlook late on Tuesday flagging the impact of U.S. tariffs.
The company now forecasts a full-year gross tariff impact of around $100 million from $80 million previously. It said it expects to offset that through operational changes and foreign exchange movements.
The company also lowered its projected net sales range to $10.3 to $10.4 billion from $10.4 to $10.5 billion forecasted in May.
The U.S. tariff rate of 39% on goods from Switzerland is higher than it is with nearly any other Western trading partner.
Alcon posted a 4% rise in its second-quarter sales to $2.58 billion, missing analysts’ average forecast of $2.63 billion, according to LSEG data.
Revenues at its surgical implantables business fell 2% to $456 million during the period. It said demand for its surgical products was relatively weak due to competitive pressures and soft market conditions.
“Eye specialists are holding back on equipment investments due to market uncertainty and the knowledge that Alcon is launching new devices,” Vontobel analyst Sibylle Bischofberger said.
Alcon has launched several products in the U.S. this year, including Tryptyr, a neuromodulator eye drop for dry eye disease, and PanOptix Pro, a next-generation intraocular lens for cataract surgery.
Alcon reported an operating margin of 9.6% in the second quarter, below last year’s 12.8%.
(Reporting by Simon Ferdinand Eibach and Bartosz Dabrowski in Gdansk; Editing by Matt Scuffham)
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