EU OKs Novartis-Alcon Deal Following Sale Of Assets

Law360, New York (August 10, 2010, 11:24 AM EDT) -- The European Commission has approved Novartis AG's bid to take over a majority stake in Alcon Laboratories Inc. based on Novartis' promise to sell off several ophthalmological drugs and consumer eye care products in the region, making the U.S. the last major jurisdiction that has yet to sign off on the deal.

The European Union antitrust watchdog cleared Novartis' proposed deal for Alcon on Monday after the pharmaceutical giant offered in mid-July to sell several of its products in Europe to appease competition concerns.

The commission...
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