This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Alcon, a global medical device and pharmaceutical company specializing in eye care, conducts animal testing as part of its product development and regulatory compliance for ophthalmic devices and medications. The company's own Animal Welfare policy acknowledges the use of animals in Alcon studies or procedures. Publicly available lists from animal welfare organizations, such as a 2017 compilation of "Companies That Still Test on Animals," consistently name Alcon Laboratories.
Specific research activities have included performance tests on devices like the UNITY VCS to demonstrate safety and effectiveness to regulatory bodies. Historical records from the Animal Welfare Institute also document Alcon Laboratories' involvement in animal research. While Alcon states a commitment to high welfare standards, it continues to fund, commission, or require animal testing to bring its surgical equipment, contact lens solutions, and ophthalmic pharmaceuticals to market.
Research Sources
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.