Bausch and Lomb acquires drug for eye surgery

Bausch and Lomb has announced the acquisition of Miochol-E, a drug used by ophthalmic surgeons in cataract procedures.

The company is purchasing the intellectual property and all assets related to the drug from Novartis, with the transaction having already been completed in a number of territories.

Miochol-E has been available for almost two decades and is an injectable drug which functions by constricting the pupil.

If the European Commission grants approval to the transaction as expected, Bausch and Lomb will gain control of one of only two injectable miotic products on the market.

Brent Saunders, chief executive officer at Bausch and Lomb, said: "Miochol-E adds further diversity to our extensive ophthalmic pharmaceuticals portfolio. We're glad patients will continue to benefit from this broadly-known product."

Last week, Bausch and Lomb expanded its offering of products for ophthalmic surgeons with the launch of new surgical forceps, which are designed to allow vitreoretinal procedures to be completed with greater ease and comfort.