Bausch & Lomb snares Chinese drug maker

Bausch & Lomb is buying a majority stake in the Chinese drug company Shandong Chia Tai Freda Pharmaceutical Group for $200 million in cash. Shandong Chia's 1,300 workers make eye drugs, including treatments for glaucoma and dry eye. The company reported earnings of $10.8 million last year on $62 million in sales and has been growing rapidly.

- read this report from the AP for more

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