Pfizer sells surgical ophalmics business for $450M
Advanced Medical Optics says it has entered into a definitive agreement to acquire drug major Pfizer's surgical ophthalmology business for $450 million in cash.
AMO, a global leader in ophthalmic surgical devices and eye care products, will acquire the Healon line of viscoelastic products used in ocular surgery, CeeOn and Tecnis intraocular lenses used in cataract surgery and the Baerveldt glaucoma shunt. These assets generated annual sales of approximately $150 million in 2003. AMO will also acquire manufacturing and R&D facilities in Groningen, the Netherlands, Uppsala, Sweden and Bangalore, India.
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