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B&L completes acquisition of Chinese firm

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ROCHESTER, N.Y. – Bausch & Lomb has completed its acquisition of Chinese pharmaceutical company Shandong Chia Tai Freda, B&L announced in a press release.

The Chinese company primarily develops, manufactures and markets medications used to treat ocular inflammation and infections, glaucoma and dry eye, the release said. In 2004, the company posted sales of $62 million.

B&L agreed to purchase the company for $200 million in cash from its current owner, Sino Biopharmaceutical. The acquisition will be “essentially neutral” to 2005 earnings per share for B&L, the release said.