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B&L to buy stake in China’s largest ophthalmic company

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ROCHESTER, N.Y. — Bausch & Lomb will acquire a majority stake in China’s leading ophthalmic company, B&L said in a press release.

B&L will buy a 55% controlling interest in China’s Shandong Chia Tai Freda Pharmaceutical Group (CTF) for about $200 million, the company said. B&L has also agreed in principle to a future acquisition of an additional 15% interest in CTF held by two other entities for $54.5 million.

Shandong primarily develops, manufactures and markets medications used to treat ocular inflammation and infection, glaucoma and dry eye, according to B&L.

The acquisition is expected to close during the third quarter after formal approval from Sino Biopharmaceutical, which owns CTF.

“CTF will provide B&L access to a national network of pharmaceutical sales representatives and distributors, strong domestic regulatory affairs and product development, all of which we view as a springboard for further growth in this strategically important market,” said Ronald L. Zarella, B&L’s chief executive officer and chairman, in the release.