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Valeant agrees to sell Paragon to settle U.S. antitrust charges
November 7, 2016 / 9:27 PM / 10 months ago

Valeant agrees to sell Paragon to settle U.S. antitrust charges

WASHINGTON, Nov 7 (Reuters) - Valeant Pharmaceuticals, which owns Bausch & Lomb, has agreed to sell Paragon Holdings to settle allegations that its acquisition of the company was illegal under antitrust law, the Federal Trade Commission said on Monday.

The FTC said that Bausch & Lomb and Paragon together made more than 70 percent of three kinds of polymer discs used to make gas-permeable contact lenses. The sale will undo Valeant’s May 2015 purchase of Paragon.

Editing by Leslie Adler

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