Allergan Will Acquire Lens Care Business From Pilkington Acquisition Expands Lens Care Business in Japan.IRVINE, Calif.--(BUSINESS WIRE)--Nov. 28, 1995--Allergan Inc. (NYSE NYSE See: New York Stock Exchange :AGN AGN Again (Amateur Radio) AGN Active Galactic Nucleus AGN Acute Glomerulonephritis AGN Accountants Global Network AGN Air Gabon (ICAO code) ) Tuesday announced that it has entered into an agreement to acquire the worldwide contact lens contact lens, thin plastic lens worn between the eye and eyelid that may be used instead of eyeglasses. Actors, models, and others wear them for appearance, and athletes use them for safety and convenience. care business of Pilkington Barnes Hind. Terms of the agreement were not disclosed. Closing of the purchase is subject to certain regulatory clearances in Japan. "This is a strategic geographic acquisition that provides critical mass to our contact lens care business in Japan," said Allergan President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. William C. Shepherd. "Since 70 percent of the revenues of the business acquired are in Japan, it will approximately double our lens care business in this market." Included in the acquisition is Consept(R) F Cleaning and Disinfecting System. Consept(R) F is a cold chemical (peroxide) disinfection disinfection, n the process of destroying pathogenic organisms or rendering them inert. disinfection, full oral cavity, n a procedure used to reduce active periodontal disease, usually completed within a certain short time frame. product for soft contact lenses. It is the only approved non-heat disinfection system for soft contact lenses in the Japanese market. "The soft lens care market in Japan is rapidly emerging," added Shepherd. "The soft lens disinfection market in Japan has the potential to grow significantly by the year 2000." Today there are approximately 9 million contact lens wearers in Japan but less than 40 percent wear soft contact lenses. The trend in the Japanese market continues to be a shift from Rigid Gas Permeable (RGP RGP Rigid Gas Permeable (contact lens material) RGP Redemption Grace Period (domain name registrar management) RGP Rice Genome Project RGP Raster Graphics Processor RGP Rapport Général sur la Pauvreté ) contact lenses to soft contact lenses. Additionally, the trend in soft lens care in the Japanese market continues to be moving from heat disinfection to cold chemical (peroxide) systems. In August of this year, Allergan increased its current holding to 100 percent in Santen-Allergan, a joint venture company established in 1974 to manufacture, import and sell contact lens care products in the Japanese market. Allergan, Inc., a global health care company headquartered in Irvine, California, develops, manufactures, and markets specialty therapeutic products for eye and skin care and neuromuscular neuromuscular /neu·ro·mus·cu·lar/ (-mus´ku-ler) pertaining to nerves and muscles, or to the relationship between them. neu·ro·mus·cu·lar adj. 1. disorders. A technology-driven company, Allergan is working to be the partner of choice for ever better specialty health care. CONTACT: Allergan Inc. Jeff D'Eliscu, 714/752-4636 work 714/675-9475, home |
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