Bausch & Lomb to expand in China

In a bid to expand in Asia, eye care company Bausch & Lomb said it has agreed to acquire a 55% stake in Shandong Chia Tai Freda Pharmaceutical Group, China's leading eye drug company, for US$200m in cash, Reuters reported. The stakes will be acquired from from Sino Biopharmaceutical Ltd. Bausch & Lomb has also agreed in principle to acquire an additional 15% stake in Shandong Chia Tai for US$54.5m.