Taking a hard look at the asset package
On Monday, the FTC accepted for public comment a proposed consent order involving a consummated merger in the eye care industry. According to the complaint, Valeant Pharmaceuticals’ 2015 acquisition of Paragon Holdings reduced competition for polymer discs (aka buttons) used to make three types of rigid gas permeable (hard) contact lenses. Under the proposed order, Valeant, the parent of Bausch + Lomb, must divest the entire hard contact lens...