B+L to Acquire Eye-Surgery Drug Miochol(R)-E
| September 6, 2010 12:33 AM |
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ROCHESTER, N.Y.—Bausch + Lomb announced Friday it has acquired some of the assets and intellectual property for Miochol(R)-—an injectable miotic pharmaceutical used during eye surgeries to constrict the pupi—from affiliates of Novartis (NYSE: NVS). Terms of the acquisition were not disclosed.
Under their agreement, Novartis will provide technical assistance during the transfer of Miochol(R)-E manufacturing.
The purchase was completed for the U.S., Canada, Australia and Korea along with other markets outside the European Economic Area. B+L said it plans to complete the acquisition of the remaining assets and intellectual property after the necessary regulatory clearance.
Brent Saunders, B+L's chief executive officer, said the acquisition "adds further diversity to our extensive ophthalmic pharmaceuticals portfolio."