J&J Vision to Pay $55M in Settlement Over Contact Lens Pricing

Johnson & Johnson Vision Care Inc. has agreed to a $55 million settlement related to contact lens pricing.

The agreement means the parties will forgo a trial in U.S. District Court for the Middle District of Florida, Reuters reports. The settlement awaits court approval.

J&J has not admitted to liability or wrongdoing.

In the antitrust case — a private class-action suit — the plaintiffs “alleged major eye care companies and a distributor agreed to restrain competition for certain disposable contact lenses,” according to Reuters.

J&J Vision was the last of the defendants to reach a settlement. Alcon Vision LLC, Bausch & Lomb Inc., CooperVision Inc. and ABB Con-Cise Optical Group LLC previously reached deals in the case.

Read more at the Reuters.