Jeff Johnson's questions to Alcon AG (ALC) leadership • Q1 2025
Question
Jeff Johnson from Robert W. Baird & Co. asked about the phasing of VBP tailwinds in China for the implantables business and whether the flat Q1 growth represented a trough. He also inquired about the pricing strategy for PanOptix Pro versus the original PanOptix.
Answer
CEO David Endicott attributed the flat implantables growth to the soft U.S. market and expects the VBP tailwind to last until mid-2026. CFO Tim Stonesifer added that the VBP comp normalizes in Q2. Regarding pricing, Mr. Endicott declined to share specifics but acknowledged the strategic flexibility offered by having two distinct premium products.