J&J to buy Abbott's eye care business for about $4.33 billion


Johnson & Johnson said it would buy Abbott Laboratories' eye care business for��about $4.33 billion��in cash.

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Abbott Medical Optics reported sales of $1.1 billion for 2015, J&J said on Friday.

The Wall Street Journal earlier reported that Abbott was in talks to sell the business to J&J.

The acquisition will include ophthalmic products in three business units: cataract surgery, laser refractive surgery and consumer eye health, J&J said.

Abbott bought Advanced Medical Optics for nearly $1.4 billion in 2009. (http://reut.rs/2d3TVPf)

(Reporting by Akankshita Mukhopadhyay and Ankur Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty and Don Sebastian)