Canada Clears Novartis-Alcon Deal With Divestitures

Law360, New York (August 9, 2010, 4:36 PM EDT) -- Canada's competition watchdog signed off on Novartis AG's acquisition of a majority stake in Alcon Laboratories Inc. on Monday after Novartis agreed to sell off some of its eye care assets, including rights to a lens cleaner and an anti-allergy drug.

The Canadian Competition Bureau said it reached a consent agreement that requires Novartis to sell off assets and related licenses to sell three products in Canada, citing concerns that the combination would substantially lessen competition for the supply of multi-purpose contact lens solutions, injectable miotics...
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