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GENEVA—Alcon (SIX/NYSE:ALC), a global leader in eyecare, reported Tuesday that its second-quarter worldwide sales, which were impacted by COVID-19, fell 36 percent (34 percent at constant currency) to $1.2 billion, but noted that it achieved “sequential monthly improvements since April, driven by the global recovery” around the coronavirus pandemic. Alcon also noted that it has recorded “continued progress on strategic initiatives and [its] innovation roadmap” during the first half of 2020. The results for the quarter and half year ended June 30 also showed overall worldwide sales totaling $3.0 billion, a drop of 17 percent (15 percent on a constant currency basis) compared with the first half of 2019, “with the COVID-19 related decline in the second quarter offsetting a strong start to the year,” the announcement noted.

“We are encouraged by the sequential monthly improvement in sales, which confirmed our recovery expectations,” chief executive officer David Endicott said in the announcement. “Despite the significant level of uncertainty due to COVID-19, we continue to stay on track with our major initiatives.”

Sales were negatively impacted by COVID-19 across all categories, partially offset by the growth of PanOptix and the launch of Pataday, Alcon said. Key countries began to recover in the latter part of the quarter as restrictions were eased, the company added.

In its vision care segment, which includes contact lenses and ocular health, net sales in Q2 totaled $596 million, a decline of 27 percent (25 percent on a constant currency basis). The decline in sales was primarily driven by lower demand and widespread office closures, partially offset by incremental revenues from the launch of Pataday, a new over-the-counter solution for ocular allergies, Alcon said.

Net sales in the vision care segment for the first half of 2020 decreased 10 percent (8 percent at constant currency) compared with the first half of 2019.

Endicott added, “We are laser focused on executing our strategic priorities: accelerating innovation, transforming new Alcon and expanding our world class manufacturing capabilities. These investments will sustain Alcon's market leadership, fuel growth and expand our ability to serve more doctors, patients and customers in a post-pandemic world.”

On the bottom line, Alcon said its second quarter 2020 operating loss was $466 million, which includes charges of $258 million from the amortization of certain intangible assets, $62 million of separation costs, $41 million of impairment charges and $13 million of transformation program costs. Excluding these and other adjustments, the Q2 core operating loss was $79 million.

The second-quarter core operating margin of negative 6.6 percent decreased from last year's core margin of 16.6 percent, which the company attributed to lower sales, unabsorbed manufacturing overhead costs, increased provisions for expected COVID-19 related credit losses and increased inventory provisions, partially offset by a significant reduction in discretionary spending.

The operating loss for the first half of the year was $494 million, Alcon said. The company also successfully raised $750 million from senior notes to further strengthen liquidity.