FOR RELEASE 9/20/2010, Monday
ROCHESTER, N.Y. — Bausch + Lomb, the global eye health company, has announced that it has concluded its worldwide acquisition of the assets and intellectual property for Miochol®-E from Affiliates of Novartis AG.
“Closure of this acquisition is a terrific gain for Bausch + Lomb pharmaceuticals. Miochol®-E not only continues to diversify our ophthalmic portfolio, it allows patients to continue to benefit from this well-known product,” said Dan Wechsler, president, global pharmaceuticals, Bausch + Lomb.
Miochol®-E is an injectable miotic pharmaceutical used during certain eye surgeries to constrict the pupil. Miotics are most commonly used in cataract surgery to stabilize the iris and fluids inside the eye when small tears occur in the capsule of the lens. In most markets worldwide there are only two injectable miotics products available, of which Miochol®-E is one.
Under the agreement, Bausch + Lomb will be provided technical assistance by Novartis to assist in the transfer of Miochol®-E manufacturing.
The companies have not disclosed more detailed purchase terms.
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About Bausch + Lomb
Bausch + Lomb is dedicated to bringing visionary ideas to eye health. Its core businesses include contact lenses and lens care products, ophthalmic surgical devices and instruments, and ophthalmic pharmaceuticals. The Bausch + Lomb name is one of the best-known and most respected healthcare brands in the world. Founded in 1853, the company is headquartered in Rochester, N.Y., and employs more than 10,000 people worldwide. Its products are available in more than 100 countries. More information is available at www.bausch.com.
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