Australia Clears Novartis' Alcon Buy With Conditions

Law360, New York (July 29, 2010, 3:21 PM EDT) -- Australia's competition regulator said Thursday that it would not oppose Novartis AG's acquisition of a majority stake in Alcon Laboratories Inc., after Novartis agreed to sell off some of Alcon's eye care assets.

Novartis made a court enforceable commitment to sell off Alcon's injectable miotic assets to Bausch & Lomb Inc., the Australian Competition and Consumer Commission said.

The other parts of Alcon's eye care business — contact lens solutions, artificial tears, anti-glaucoma preparations and conjuctivitis treatment — will not have to be divested, the ACCC...
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