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The optical giant Bausch and Lomb have announced the completion of ophthalmology product specialists Ista Pharmaceuticals in a move estimated to be over £300m. In what is seen as a very complimentary takeover considering the market place standing of both businesses and their specialist fields, the purchase will see Bausch and Lomb add a number of products to its already increasing portfolio.
Ista Pharmaceuticals, according to its website is, "the fastest growing U.S. branded ophthalmic pharmaceutical company, having recently become the fourth largest in the U.S. market. Including therapy options for inflammation, ocular pain, glaucoma, allergy, and dry eye." The company was valued at £321m during the takeover process.
The next step will see both optics companies fusing their current strategies and working relationships in order to ensure that their connections with suppliers and consumers is not affected in any way.
As part of the purchase, Bausch and Lomb will now add prescription products from the Ista range to their portfolio including, Bromday, Vitrase and Istalol amongst others. A number of other Ista based innovations will also follow suit.