Eyecare company Allergan is to spin off its ophthalmic surgical and contact lens businesses to form an independent, public company, in order to focus on the more profitable specialty pharmaceutical business. The new company, which will be called Advanced Medical Optics (AMO), plans a New York listing.
"Over the last two years, it has become increasingly apparent that the pharmaceutical and medical device businesses are fundamentally different, and are diverging, in terms of market growth rates, gross...
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