UPDATE 1-Alcon quarterly profit rises nearly 3 pct

* Alcon Q2 net profit $1.94 per share

* Organic sales rose 3.3 percent, excluding forex impact

* Full-year earnings outlook raised

LOS ANGELES, July 22 (Reuters) - Alcon Inc ACL.N, one of the world's leading makers of eye care products, said on Wednesday its quarterly profit rose nearly 3 percent as sales grew, excluding the impact of foreign exchange fluctuations.

The company, which is being acquired by Swiss drugmaker Novartis (NOVN.VX), also raised its earnings outlook for full-year 2009 and announced a research deal with AstraZeneca PLC (AZN.L).

Alcon posted a net profit of $582 million, or $1.94 per share, up from $567 million, or $1.88 per share, a year ago.

Analysts on average had expected a profit of $1.71 per share, according to Reuters Estimates.

Global sales fell 3.4 percent to $1.68 billion, including the impact of foreign currency fluctuations. Excluding foreign exchange impact, "organic" sales rose 3.3 percent, Alcon said.

The company, which earlier this month said it would discontinue development of an experimental glaucoma drug, raised its outlook for full-year net earnings per share to between $6.20 and $6.35 from $6.00 to $6.20. It projected adjusted EPS of $6.25 and $6.40 -- up from the previous estimate of $6.05 to $6.25.

"This increase reflects positive earnings performance in the first half of the year, which is expected to be partially mitigated by higher R&D (research and development) and SG&A (sales, general and administrative) expenses in the second half of the year," the company said in a statement.

Alcon also reaffirmed its previous forecast for organic sales growth in the mid-single digits this year.

The company said it has entered into a five-year collaboration to fund research and development of eye drugs in AstraZeneca's compound library.

The agreement gives Alcon rights to potential small molecule drugs to treat sight-threatening conditions such as glaucoma, wet and dry age-related macular degeneration and other retinal diseases, as well as ocular allergy, dry eye and other inflammatory eye conditions.

(Reporting by Deena Beasley; Editing by Richard Chang)