Valeant Agrees to Sell Paragon to Settle U.S. Antitrust Charges
Valeant Pharmaceuticals, which owns eye care products maker Bausch & Lomb, has agreed to sell Paragon Holdings to settle allegations that its acquisition of the smaller company was illegal under antitrust law, the Federal Trade Commission said on Monday. The FTC said that Bausch & Lomb and Paragon together made more than 70 percent of three kinds of polymer discs used to make gas-permeable contact lenses. The sale will undo Valeant's May 2015 purchase of Paragon.