ALLERGAN ACQUIRES PRODUCT LINE, MANUFACTURING FACILITY OF ENTRAVISION INC.
ALLERGAN ACQUIRES PRODUCT LINE, MANUFACTURING FACILITY OF ENTRAVISION INC. IRVINE, Calif., March 2 /PRNewswire/ -- Allergan Inc. (NYSE: AGN) today announced it acquired substantially all the assets of Entravision Inc., of North Carolina, a manufacturer of ophthalmic surgery products. The agreement expands Allergan's product line of surgical adjuncts to include AMO ENDOSOL EXTRA(R) solution, an advanced irrigating solution used during eye surgery. The addition of Entravision's facility also increases Allergan's manufacturing capabilities for ancillary disposable products used in cataract surgery. Terms of the agreement were not announced. "The acquisition of Entravision allows us to offer a greater range of products to the ophthalmic surgeon," commented Robert C. Bishop, Ph.D., president of Allergan's Therapeutics Group. "It also helps improve our profit margins in the disposables segment of our business." Allergan's newest balanced salt solution, AMO ENDOSOL EXTRA solution, will give the ophthalmic surgeon another option when choosing an irrigating solution. AMO ENDOSOL EXTRA provides critical components necessary for the function of endothelial cells, resulting in improved cell function during and after ophthalmic surgery. Balanced salt solutions represent approximately a $38 million market worldwide. Entravision has manufactured a majority of Allergan's disposable accessories for phacoemulsification -- the least invasive procedure used to extract cataracts during cataract surgery -- for three years. Phacoemulsification is a fast-growing segment of the cataract surgery field. Entravision was founded in 1983 by Walter and Gloria Newton, its current owners. The company has been a leading producer and distributor of equipment, disposable accessories and solutions used in ophthalmic surgery. "We consider AMO ENDOSOL EXTRA solution, which was researched and developed at Entravision, to be an excellent product," said Newton. "We are pleased that it is now a part of Allergan's global product line." Allergan Inc., headquartered in Irvine, is a global provider of specialty therapeutic products, and is now expanding beyond skin care and its leadership position in eye care. -0- 3/2/92 /CONTACT: Shel Holtz (media), 714-752-4387 or 818-366-5296 (home), or Jeff D'Eliscu (investors), 714-752-4636 or 714-675-9475 (home), both of Allergan Inc./ (AGN) CO: Allergan Inc.; Entravision Inc. ST: California IN: HEA SU: TNM
EH-JL -- LA045 -- 4251 03/02/92 20:26 EST
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|Date:||Mar 2, 1992|
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