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Bausch + Lomb has concluded its acquisition of a portion of the assets and intellectual property for Miochol(R)-E from affiliates of Novartis AG. The business intends to complete the acquisition of the remaining assets and intellectual property upon the necessary regulatory clearance.
Bausch + Lomb has concluded its acquisition of a portion of the assets and intellectual property for Miochol-E from affiliates of Novartis AG. The business intends to complete the acquisition of the remaining assets and intellectual property upon the necessary regulatory clearance. It intends to complete full purchase of the Miochol-E assets and intellectual property existing within the EEA upon approval from the European Commission.
Miochol-E adds further diversity to our extensive ophthalmic pharmaceuticals portfolio. We're glad patients will continue to benefit from this broadly known product, said Brent L. Saunders, chief executive officer, Bausch + Lomb.
Miochol-E is an injectable miotic pharmaceutical used during certain eye surgeries to constrict the pupil. Miotics are most commonly used in cataract surgery to stabilize the iris fluids inside the eye when small tears occur in the capsule of the lens. In most markets worldwide there are only two injectable miotics products available, of which Miochol-E is one.
Miochol-E has been widely used by ophthalmic surgeons for nearly 20 years. Adding this trusted product to Bausch + Lomb's quality eye health product line is a perfect fit for B+L and its patients, says Dr David Ritterband, clinical associate professor of ophthalmology, The New York Eye and Ear Infirmary and New York Medical College.
Under the agreement, Bausch + Lomb will be provided technical assistance by Novartis to assist in the transfer of Miochol-E manufacturing. The companies have not disclosed more detailed purchase terms.