Bausch & Lomb

Ophthalmology firm to acquire Chinese ophthalmic pharmaceuticals company

Published in Pharma Investments, Ventures and Law Weekly, August 7th, 2005

Bausch & Lomb (BOL), the global eye health company, has entered into a definitive agreement to acquire a 55-percent controlling interest in the Shandong Chia Tai Freda Pharmaceutical Group (CTF), an ophthalmic pharmaceutical company in China, from Sino Biopharmaceutical, Ltd.

The purchase price of $200 million in cash represents the equivalent of 18.6-times 2004 net earnings. The acquisition will accelerate Bausch & Lomb's expansion into the rapidly growing ophthalmic pharmaceuticals market in China.

In addition, Bausch & Lomb has agreed in principle to a future acquisition of an additional 15% interest in CTF held by two other entities, for $54.5...

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Source: Pharma Investments, Ventures and Law Weekly (2005-08-07)

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