Alcon dragged down the Swiss drugmaker's results for a second quarter in a row as it struggled with generic competition, lagging sales of surgical equipment and a lack of innovation, Jimenez said. A revamp program will be announced in January.

"Fundamentally, it's a good business but it's suffering from some intense competition as well as we have not been as innovative on Alcon as we should be," he said in an interview. "The plan that we are going to unveil in January for returning to growth will play heavily on the innovation front."

(Reporting by John Miller; Editing by Michael Shields)