BAUSCH & LOMB TO ACQUIRE CHINESE COMPANY

Bausch & Lomb, the global eye health company, has entered into a definitive agreement to acquire a 55-percent controlling interest in the Shandong Chia Tai Freda Pharmaceutical Group (CTF), the leading ophthalmic pharmaceutical company in China, from Sino Biopharmaceutical Ltd. (HKSE:1177.HK). The purchase price of $200 million in cash represents the equivalent of 18.6-times 2004 net earnings. The acquisition will accelerate Bausch & Lomb's expansion into the rapidly growing ophthalmic pharmaceuticals market in China.

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