Ophthalmics

Chiron as consolidator

Chiron as consolidator

Ophthalmics

Ophthalmics

Chiron Corp.'s $95 million move to combine its Chiron Vision business with the ophthalmic surgical division of Iolab aims to create a deep product line capable of providing a disease management approach to the sector.

CHIR last week said it would acquire the Iolab division from Johnson & Johnson for $95 million, creating the second largest ophthalmic surgery company after Alcon.

Iolab has been for sale since last year, and Ciba bought the pharmaceutical portion of the business last August. CHIR, in which Ciba holds a minority position, said it anticipates collaborating with Ciba Vision.

CHIR will pay slightly less than 1x