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Article: Bausch & Lomb Completes Acquisition of Shandong Chia Tai Freda Pharmaceutical Group.
- Article from:
- Business Wire
- Article date:
- September 26, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ROCHESTER, N.Y. -- Bausch & Lomb (NYSE:BOL) has completed the previously announced acquisition of a controlling interest in Shandong Chia Tai Freda Pharmaceutical Group (CTF), the leading ophthalmic pharmaceutical company in China, from Sino Biopharmaceutical Ltd. (HKSE: 1177.HK) for $200 million in cash.
The acquisition will accelerate Bausch & Lomb's expansion into the rapidly growing ophthalmic pharmaceuticals market in China and provide Bausch & Lomb with a national pharmaceuticals sales and distribution network, strong domestic brands, a GMP-certified manufacturing facility, and expertise in regulatory affairs and product development.
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