The Federal Trade Commission announced that it...

The Federal Trade Commission announced that it is moving to block Schering-Plough Corp.’s acquisition of the contact lens assets of the Cooper Cos. The agency directed its staff to seek a court order blocking the $150-million takeover, charging that the move would significantly reduce competition in the manufacture and sale of soft contact lenses. Schering-Plough, based in Madison, N.J., produces lenses through its Wesley-Jessen Inc. subsidiary in Chicago. Cooper, with headquarters in Palo Alto, Calif., makes and sells lenses through its Menlo Park subsidiary, CooperVision.