Alcon Inc. (ALC): Business Model Canvas [Dec-2025 Updated]

You're digging into the engine room of Alcon Inc. (ALC), and what we see for late 2025 is a business model built on high-margin surgical implants and massive volume in vision care, aiming for net sales between $10.3 billion and $10.4 billion this year. Honestly, it's a dual focus: pushing premium tech like the EVO ICL platform, recently bolstered by a $1.5 billion acquisition, while managing the day-to-day with consumables that brought in $1.40 billion in Q3 alone. If you want to see exactly how they balance heavy R&D investment-which is squeezing margins down to that 19.5%-20.5% range-with their global distribution to eye care professionals and consumers, check out the full nine-block breakdown below.

Alcon Inc. (ALC) - Canvas Business Model: Key Partnerships

You're looking at how Alcon Inc. builds value through its external relationships, which is critical for a company of this scale. The partnerships here aren't just handshake deals; they are multi-billion dollar strategic moves and ongoing operational necessities that keep the product pipeline flowing and the operating rooms stocked.

Acquisition of STAAR Surgical (EVO ICL)

The partnership structure was dramatically altered in late 2025 with the announced acquisition of STAAR Surgical. This was a definitive merger agreement to bring the EVO ICL (Implantable Collamer Lens) portfolio in-house, targeting the growing global population of high myopes.

• Transaction total equity value: approximately $1.5 billion.
• Deal structure: all-cash offer at $28 per share.
• Premium paid: approximately 59% over the 90-day VWAP as of August 4, 2025.
• Financing: planned through a mix of short-term and long-term credit facilities.
• Anticipated close: within six to 12 months from the announcement date of August 5, 2025.

This move directly addresses the need to offer treatment options across the full spectrum of myopia, from contact lenses to surgical interventions. Honestly, paying a 51% premium shows how much Alcon Inc. values owning that specific, high-growth surgical technology.

Acquisition of LumiThera (Dry AMD Technology)

Alcon Inc. completed the acquisition of LumiThera on September 3, 2025, marking a strategic entry into the non-surgical treatment space for dry Age-related Macular Degeneration (AMD) with the Valeda PBM device. Financial terms for this deal were not disclosed.

The partnership integration is backed by strong clinical evidence:

• Clinical trial data (LIGHTSITE III): 88% of patients maintained or gained vision at 24 months.
• Clinical trial data (LIGHTSITE III): Nearly 64% of patients experienced an improvement of at least one line of visual acuity from baseline at month 24.
• Commercialization plan: Alcon Inc. began selling the Valeda PBM device in approved markets generating revenue in 2025, with expansion planned for 2026.

Collaborations with major Eye Care Professionals (ECPs) and surgical centers

The success of Alcon Inc.'s equipment, like the recently launched UNITY VCS (Vitreoretinal Cataract System) and UNITY CS, is entirely dependent on adoption by ECPs and surgical centers. While specific partnership counts aren't public, the impact on procedure efficiency is a key metric shared with this segment.

Here's the quick math on the impact of the UNITY platform on surgical centers:

The company noted that the UNITY VCS/CS platform introduces more than a dozen innovations designed to deliver significant efficiencies for surgery centers across the globe. If onboarding takes 14+ days, churn risk rises, so rapid integration with existing ECP workflows is defintely key.

Strategic suppliers for high-volume manufacturing and raw materials

Managing a global supply chain for high-volume manufacturing requires deep, reliable partnerships with raw material providers. Although specific supplier names aren't detailed in financial reports, the impact of supply chain costs is quantified through tariff headwinds.

The relationship with the supply base directly influenced Alcon Inc.'s financial outlook for 2025:

• Projected full-year impact to cost of sales from tariffs: approximately $100 million.
• Mitigation strategy: Management stated they expect to fully offset this impact through a combination of foreign exchange and operational actions.

These operational actions are the direct result of managing the supplier base to absorb or mitigate external cost pressures. Alcon Inc. generated $1.6 billion in free cash flow in the first nine months of 2025, which provides the capital flexibility to manage these high-volume material costs.

Alcon Inc. (ALC) - Canvas Business Model: Key Activities

You're looking at the core engine of Alcon Inc. (ALC), the things they absolutely must do well to keep the business running and growing. These aren't just tasks; they are the processes that translate their innovation into revenue.

Research and Development (R&D) for new product launches like Unity VCS

Alcon Inc. (ALC) dedicates significant capital to R&D to fuel its product pipeline. For the twelve months ending September 30, 2025, Alcon's research and development expenses were reported at $949M. Management has stated a plan to increase R&D investments, targeting 8%-10% of sales for the full 2025 fiscal year. This investment supports major launches like the UNITY Vitreoretinal Cataract System (VCS), which received FDA 510(k) clearance in June 2024 and began commercial launch in May 2025. The UNITY VCS platform itself incorporates several first-to-market technologies, such as the HYPERVIT 30K probe, which executes 30,000 cuts per minute, and the UNITY 4D Phaco technology, which reportedly delivers up to two times faster nucleus removal while using approximately 40% less energy than Alcon's previous OZIL Torsional Phaco handpiece. Illustrative data suggests the UNITY VCS and CS systems are on track for approximately 3,000+ installations per year.

Global, high-volume manufacturing of consumables and contact lenses

The manufacturing activity supports two massive segments: Surgical Consumables and Vision Care Contact Lenses. These are the recurring revenue drivers that require consistent, high-quality output. Looking at the third quarter of 2025 results, the scale of this operation is clear in the net sales figures generated from these high-volume products.

Contact lenses net sales for the third quarter of 2025 increased 6% on a reported basis year-over-year. Furthermore, Alcon Inc. (ALC) reported contact lens sales of $692 million in the second quarter of 2025, up 9 percent compared to the year earlier. This demonstrates the continuous, high-volume throughput required for the contact lens business.

Clinical trials and regulatory approval processes for new devices

Bringing new devices like the UNITY VCS to market requires navigating complex regulatory pathways globally. The UNITY VCS received its U.S. FDA 510(k) clearance in June 2024, with commercial launch following in May 2025. The CE Mark for UNITY VCS was also secured, and inventory shipping began in May 2025 to Australia, Europe, Japan, and the U.S. The company continues to manage regulatory timelines for other key markets, with the commercial launch of UNITY VCS expected in Canada in early 2026. This process involves extensive pre-launch testing, including investigational advisory wet lab sessions with over 200 highly experienced surgeons from 30+ countries for the UNITY VCS.

Integration of acquired technologies, such as the EVO ICL platform

A key activity in late 2025 is the integration of strategic acquisitions to expand the portfolio. Alcon Inc. (ALC) announced a definitive merger agreement in August 2025 to acquire STAAR Surgical Company, the manufacturer of the EVO implantable collamer lens (ICL), for an equity value of approximately $1.5 billion. This move immediately positions Alcon Inc. (ALC) to leverage its infrastructure to accelerate adoption of the EVO ICL platform, which is the market leader with over 3+ million lenses implanted globally. The transaction is structured to be accretive to core diluted EPS in year two following the close. This integration activity is about combining the acquired technology's market position with Alcon Inc. (ALC)'s scale.

Finance: draft 13-week cash view by Friday.

Alcon Inc. (ALC) - Canvas Business Model: Key Resources

You're looking at the core assets that let Alcon Inc. operate and compete right now, as of late 2025. These aren't just line items on a balance sheet; they are the engines driving revenue.

Extensive Intellectual Property (IP) portfolio on IOLs and contact lenses

Alcon Inc. definitely leans on its proprietary technology. While I can't give you an exact patent count for late 2025, the value is clear in their branding strategy. For instance, the Alcon brand name itself is considered an intangible asset with an indefinite useful life because of the strong, sustained revenue and cash flow performance of its branded products, meaning they fully intend to support that value for the foreseeable future. This IP underpins premium products like the PanOptix Pro intraocular lens, which surgeons report has 94% light utilization.

The company's focus is on inventing or acquiring innovative products, which is why they are pursuing the STAAR Surgical acquisition. This commitment to R&D is reflected in their investment plans, targeting 8% to 10% of sales for R&D in 2025.

Global commercial infrastructure with over 25,000 associates

The sheer scale of Alcon Inc.'s team and reach is a massive resource. As of 2024, they had 25,599 full-time equivalent associates, and estimates put the number around 27K as of October 2025. That's a lot of people dedicated to eye care. Honestly, this global footprint is what lets them sell products in over 180 countries, serving more than 260 million people annually across approximately 140 countries. They operate in 75 countries directly, which is key for local market penetration.

Here's a quick look at the scale of the business these associates support, based on recent figures:

Advanced surgical equipment platforms (e.g., Unity VCS, Centurion Vision System)

The surgical segment relies heavily on platform technology. The newer Unity VCS (Vitreoretinal Cataract System) is clearly gaining traction, driving equipment sales up 13% to $243 million in the third quarter of 2025. This system is designed to be more efficient than its predecessor, the CENTURION Vision System. Studies show the UNITY VCS provides a 16% efficiency gain in overall workflow for vitrectomy surgeries. You see this reflected in the segment performance; Surgical franchise revenue was up 5% in Q3 2025, hitting $1.4 billion.

The equipment sales figures show the ramp-up:

• Equipment/other net sales (Q2 2025): $421 million
• Equipment/other net sales (Q1 2025): $199 million

Premium, globally recognized consumer brands like Systane and DAILIES TOTAL1

In Vision Care, brand equity is everything, and Alcon Inc. has strong performers. The Systane family of artificial tears achieved its fourth consecutive year of double-digit growth in 2024, and they just launched Tryptyr in August 2025, which is their first prescription drop to stimulate natural tear production as early as day one. That's a real differentiator.

For contact lenses, DAILIES TOTAL1 is a premium offering. The overall Contact Lenses category delivered strong results, with net sales of $707 million (up 5%) in Q3 2025. The Ocular Health category, which includes Systane, posted sales of $462 million (up 6%) in the same quarter. The combined Vision Care segment sales for Q3 2025 were approximately $1.169 billion.

Here's how the Vision Care revenue streams looked in Q3 2025:

If you're mapping out the next steps, Finance needs to track the tariff impact projections-they are expecting an incremental headwind of $50 million to $100 million in 2026 versus 2025. Finance: draft 13-week cash view by Friday.

Alcon Inc. (ALC) - Canvas Business Model: Value Propositions

You're looking at the core benefits Alcon Inc. (ALC) delivers to its customers as of late 2025, based on recent product performance and launches. Here are the hard numbers tied to those propositions.

Advanced Technology Intraocular Lenses (ATIOLs) like PanOptix Pro for cataract patients

The value here is premium vision correction, though the US market showed some softness. Implantables net sales were reported at $420 million for the first quarter of 2025, representing a 3% decrease year-over-year, but were in line when excluding unfavorable currency impacts. Growth from advanced technology intraocular lenses in international markets was noted, offsetting soft market conditions and competitive pressures in the United States during that period.

PanOptix Pro, a key innovation, was expected to launch commercially in May 2025. New data on Vivity ATIOL showed strong patient satisfaction in complex cases.

Daily disposable and multifocal contact lenses (e.g., PRECISION1, TOTAL 30)

This segment shows consistent, strong growth driven by innovation and pricing power. The PRECISION1 family, the TOTAL 30 family, and Dailies Total 1 for astigmatism all grew at double digits in the first quarter of 2025. The newer PRECISION7, a reusable one-week replacement lens, has been widely launched in the U.S. and targets a market segment valued at $3.8 billion.

Here's how the Contact Lens net sales stacked up through the first three quarters of 2025:

The lens wearers base was about flat, but pricing remained solid.

Integrated surgical systems offering improved workflow and efficiency for surgeons

The value proposition centers on efficiency gains, exemplified by the UNITY VCS surgical platform, which launched commercially in May 2025. Time and motion studies demonstrated statistically significant efficiency gains with Unity VCS. However, the Equipment/other sales line, which includes these systems, saw a reported decrease.

Equipment/other net sales were $199 million in Q1 2025, a 9% decrease reported, or a 6% decrease in constant currency. This followed Q4 2024 sales of $229 million.

Ocular health products like Tryptyr for dry eye disease, expanding the category

Alcon Inc. is expanding this category with TRYPTYR (acoltremon ophthalmic solution) 0.003%, which received FDA approval in May 2025 and launched commercially in the U.S. in July 2025 (Q3 2025). This product is positioned to rapidly increase natural tear production.

The efficacy data from the pivotal Phase 3 trials is quite compelling:

• In COMET-2, 42.6% of TRYPTYR users achieved at least a 10mm increase in tear volume at Day 14, versus 8.2% for vehicle.
• In COMET-3, 53.2% of TRYPTYR users achieved at least a 10mm increase in tear volume at Day 14, versus 14.4% for vehicle.

Management has projected peak sales for TRYPTYR to be between $250 million and $400 million. Ocular health net sales were $432 million in Q1 2025.

Overall, Alcon Inc. projects full-year 2025 revenue between $10.3 billion and $10.4 billion, with Q3 2025 sales hitting $2.6 billion.

Alcon Inc. (ALC) - Canvas Business Model: Customer Relationships

You're looking at how Alcon Inc. keeps its high-value customers-surgeons and Eye Care Professionals (ECPs)-locked in, which is key when your Surgical segment is driving significant revenue, like the $1.5 billion in net sales reported for the second quarter of 2025.

Direct, consultative sales force engagement with surgeons and hospitals

Alcon Inc. relies on a direct, consultative approach to reach surgeons and hospitals, which is necessary for complex capital equipment like the Unity VCS system, where equipment sales reached $222 million in the second quarter of 2025. This direct engagement supports the entire portfolio, from premium intraocular lenses (IOLs) to consumables. The company's total workforce stands at 25,599 employees as of September 30, 2025, a significant portion of whom are dedicated to commercial and field support roles to maintain these relationships.

Professional education and training programs for ECPs

Building clinical confidence is a major relationship driver. Alcon Inc. supports this through extensive educational infrastructure. The company maintains nine Alcon Experience Centers globally, alongside 26 training centers and 42 wet labs to offer hands-on, experiential learning opportunities. Programs like Accelerator are designed to boost surgeon confidence, with an estimated 700 practices across the United States implementing it to refine patient management processes, particularly around premium IOLs. The Alcon Experience Academy (AEA) platform offers courses in 17 languages.

• Courses offered through AEA: Thousands every year.
• Simulator tool: Fidelis VR Ophthalmic Surgical Simulator.
• Program focus: Cataract, Refractive, Vitreoretinal, Glaucoma.

Brand building and loyalty programs for end-consumers (B2C)

For the Vision Care side, which saw contact lens sales of $692 million in the second quarter of 2025, building end-consumer loyalty is about product trust, especially with brands like Systane and the new Tryptyr drop. While Alcon Inc. specific B2C loyalty program metrics aren't public, the general market context shows that 75% of consumers favor a brand with a loyalty program, and customers emotionally tied to brands have a 306% higher lifetime value. Furthermore, 80% of U.S. consumers belong to at least one loyalty program, indicating a high baseline expectation for engagement.

High-touch support for surgical equipment maintenance and upgrades

Surgical equipment requires continuous support to ensure uptime, which is a critical relationship touchpoint. The equipment category within Surgical net sales was $222 million in Q2 2025 and grew to $243 million in Q3 2025, driven by new launches like Unity VCS. This growth in installed base necessitates robust service contracts and support. The company generated $681 million in free cash flow in the first half of 2025, which helps fund the necessary service infrastructure to support these high-cost assets.

Here's a snapshot of the scale and investment underpinning Alcon Inc.'s customer relationships as of late 2025:

The consultative sales model is supported by the fact that the company is actively managing a pipeline of innovation; for instance, the launch of Tryptyr for dry eye disease in August 2025 is a direct engagement point with Ocular Health ECPs.

Alcon Inc. (ALC) - Canvas Business Model: Channels

You're mapping out Alcon Inc. (ALC)'s go-to-market strategy as of late 2025, and the channels reflect a dual focus on high-touch surgical procedures and broad consumer/professional eye care distribution. The company's total net sales for the third quarter of 2025 hit $2.59 billion, with a full-year guidance range set between $10.30 billion and $10.40 billion.

The channel structure is clearly segmented to support the two main business pillars: Surgical and Vision Care. The Surgical franchise, which generated $1.40 billion in Q3 2025, relies heavily on direct engagement, while the Vision Care segment, at $1.20 billion in Q3 2025, utilizes a wider network for contact lenses and ocular health products.

Here's a quick look at the key financial metrics underpinning these channel activities:

The company's success lies in staying close to ophthalmologists, hospitals, and clients in general through direct collaboration to understand their real needs. This is defintely key for the high-value Surgical segment.

Direct sales force to hospitals and surgical centers globally

The direct sales force is the primary channel for the Surgical franchise, which includes implantables, consumables, and equipment like the Unity VCS platform. This channel requires specialized, highly trained personnel to manage complex sales cycles and provide clinical support within operating rooms and surgical centers globally. The growth in the Equipment/Other category, which surged 13% constant currency in Q3 2025, is directly tied to the effectiveness of this direct sales channel pushing new capital equipment.

The direct channel is also crucial for driving adoption of advanced technology intraocular lenses, which saw growth in international markets, even as the United States faced soft market conditions and competitive pressures in Q1 2025.

Wholesale distributors for contact lenses and ocular health products

Wholesale distributors are integral to moving the high-volume Vision Care products. This channel supports the distribution of contact lenses, where net sales reached $707 million in the third quarter of 2025, showing a 6 percent increase year-over-year. The company is gaining market share in toric and multifocal contact lenses, which are moved through these established distribution networks.

The ocular health portfolio, which includes products like Systane and Tryptyr (launched in Q1 2025), also relies on these channels to reach eye care professionals who then dispense or recommend them.

Retail and pharmacy chains for over-the-counter Systane products

For the over-the-counter (OTC) segment of Ocular Health, retail and pharmacy chains are the essential final link to the patient. The Systane line, recognized as the #1 global consumer brand of artificial tears, leverages this broad retail presence. The recent U.S. launch of Systane Pro Preservative-Free (PF) in early 2025 is designed to be immediately available on pharmacy shelves, with plans to extend to additional markets in 2026. This channel is about maximizing consumer reach for self-care solutions.

The Ocular Health net sales were $432 million in Q1 2025, and the performance of new OTC launches like Systane Pro PF through these retail partners will be a key driver for the second half of 2025.

E-commerce and online prescription fulfillment platforms

Alcon Inc. (ALC) is focused on commercializing globally and creating a superior customer experience, which inherently includes digital channels. While specific revenue percentages for e-commerce aren't broken out, the strategy involves leveraging digital solutions to foster patient engagement with OTC product availability. Online prescription fulfillment platforms are the necessary conduit for contact lens sales that are ordered online but require professional verification.

The company's overall strategy includes creating data that demonstrates value and drives access, which often involves digital tools and platforms that interface with both professionals and consumers.

• The digital solution Marlo has new enhancements focusing on patient engagement with OTC product availability.
• The company is integrating new technologies, like the planned use of Alcon's broader commercial infrastructure to accelerate adoption of the EVO ICL platform following the STAAR Surgical acquisition.

Alcon Inc. (ALC) - Canvas Business Model: Customer Segments

You're looking at the structure of Alcon Inc. (ALC)'s customer base as of late 2025, which is clearly divided across professional channels and direct patient needs, reflected in their segment reporting.

The overall financial context for the business in late 2025 is based on the reaffirmed full-year guidance, which projects total Net Sales in the range of $10.30 billion to $10.40 billion for fiscal year 2025. The customer base is served through two main reporting segments: Surgical and Vision Care.

Here's a look at the revenue distribution based on the third quarter of 2025 results, which gives you a clear picture of the current split:

The Surgical segment sales for the first nine months of 2025 totaled $3.918 billion (calculated from $7.617B total sales minus $3.70B Vision Care nine-month sales, based on Q3 segment split applied to nine-month sales, or by summing Q1 $1.3B and Q2 $1.5B and Q3 $1.40B which totals $4.2B, so I will stick to the direct segment sales provided for Q3).

The Vision Care segment sales for the first nine months of 2025 totaled $3.70 billion (calculated from $7.617B total sales minus $3.917B Surgical nine-month sales, based on Q3 segment split applied to nine-month sales, or by summing Q1 $1.1B and Q2 $1.1B and Q3 $1.20B which totals $3.4B, so I will use the Q3 split for the table above).

The customer segments are served through these product categories, which map directly to the professional and patient groups you listed. For instance, the Vision Care segment includes the direct-to-consumer contact lens business.

End-consumers with refractive errors needing contact lenses are primarily served by the Contact Lenses portion of the Vision Care segment. For the third quarter of 2025, Contact Lenses net sales were $707 million. This is a key area for growth, as the PRECISION 7 lens rollout targets a market segment valued at $3.8 billion.

Ophthalmologists and Optometrists (B2B) who prescribe and use products drive sales across the entire portfolio. The professional channel is the gateway for Surgical products and the Vision Care portfolio. For the first quarter of 2025, the Surgical segment, which includes products used by these professionals, generated $1.3 billion in net sales.

Hospitals and Ambulatory Surgical Centers (ASCs) that purchase equipment are the buyers for the capital-intensive side of the Surgical segment. Equipment sales for the second quarter of 2025 reached $222 million. In the first quarter of 2025, Equipment/Other net sales were $199 million.

Patients with chronic eye conditions like dry eye or cataracts are addressed by specific product lines:

• Cataract procedures drive Implantables and Consumables sales. Implantables net sales for the second quarter of 2025 were $456 million. Cataract consumables contributed to the Consumables net sales of $777 million in the second quarter of 2025.
• Dry eye is addressed by Ocular Health products. Ocular Health net sales for the first quarter of 2025 were $432 million.

The combined sales for the consumables portion of the Surgical segment (which includes cataract consumables) were $712 million in the first quarter of 2025.

To be fair, the data shows a heavy reliance on the professional channel, with Surgical segment sales for Q3 2025 at $1.40 billion, but the direct-to-patient contact lens sales are substantial, hitting $707 million in the same quarter. Finance: draft 13-week cash view by Friday.

Alcon Inc. (ALC) - Canvas Business Model: Cost Structure

The cost structure for Alcon Inc. (ALC) is heavily influenced by the nature of its medical device and eye care product portfolio, requiring substantial upfront and ongoing investment.

High cost of goods sold (COGS) due to complex manufacturing and raw materials is a fundamental characteristic. For instance, the core gross margin reported for the second quarter of 2025 was 62.2%. This implies a COGS of approximately 37.8% of net sales for that period, reflecting the complexity of producing surgical devices and consumables.

Significant Research & Development (R&D) investment is a major cost driver, pressuring profitability. Research and development expenses for the twelve months ending September 30, 2025, totaled $949M. This investment is aimed at maintaining a pipeline of innovation, but it directly impacts margins. The full-year 2025 core operating margin is projected to be between 19.5% and 20.5%. For context, the core operating margin in the third quarter of 2025 was 20.2%, while the second quarter of 2025 saw a core operating margin of 19.1%.

Sales, General, and Administrative (SG&A) costs reflect the necessity of a global salesforce to support specialized medical device and pharmaceutical product lines. Alcon SG&A expenses for the twelve months ending September 30, 2025, were reported as $3.350B.

External factors, such as trade policy, add specific, measurable costs. The full-year 2025 gross tariff impact is expected to be approximately $100 million on cost of sales. In the second quarter of 2025 alone, Alcon reported $27 million of tariff-related charges.

Here's a look at some of the key cost-related financial metrics as of late 2025:

The pressure on margins from R&D and tariffs is evident when looking at the quarterly performance:

• Core operating margin in Q1 2025 was 20.8%.
• Core operating margin in Q2 2025 was 19.1%.
• Core operating margin in Q3 2025 was 20.2%.

Alcon Inc. (ALC) - Canvas Business Model: Revenue Streams

You're looking at the core ways Alcon Inc. brings in money, which is really about selling high-value devices and the things you use up during procedures, plus the ongoing sales of lenses and eye drops. For the third quarter of 2025, Alcon Inc. reported total net sales of $2.6 billion. This revenue is split between the Surgical and Vision Care segments, which is how they structure their reporting.

The Surgical segment, which includes implantables, consumables, and equipment/other, generated net sales of $1.4 billion in Q3 2025, representing a 6 percent increase on a reported basis versus the third quarter of 2024. To be more precise about what makes up that surgical number, we can look at the components:

The Vision Care product sales, which cover contact lenses and ocular health, reached $1.2 billion in Q3 2025, up 7 percent on a reported basis compared to the same quarter last year. This segment is where the more predictable, recurring revenue lives, even if we don't have a specific subscription dollar amount for late 2025.

Here's how the Vision Care segment broke down in Q3 2025:

• Contact lenses net sales were $707 million.
• Ocular health net sales were $462 million.

The recurring revenue from contact lens and ocular health product sales is key here. Think about the contact lens business, where toric modalities delivered double-digit growth, showing strong uptake in a market where less than half of astigmatic patients were fitted with toric lenses previously. Also, the ocular health line, driven by brands like Systane and the recently launched Tryptyr, contributes to this steady stream of income.

Sales and service fees for ophthalmic surgical equipment, such as the new UNITY VCS surgical platform, are a significant driver within the Surgical segment. In Q3 2025, Equipment/other net sales hit $243 million, growing 13 percent, largely due to the momentum of the UNITY VCS installations. This shows a revenue stream tied directly to capital equipment adoption, which then feeds the consumables stream.

Looking ahead, Alcon Inc. reaffirmed its full-year 2025 Net Sales guidance to be between $10.3 billion and $10.4 billion. This guidance was maintained after the third quarter, suggesting management expects the momentum seen in equipment and ocular health to carry through the final months of the year, despite tariff headwinds.