The U.S. Federal Trade Commission said Wednesday that Transitions Optical Inc., the leading maker of photochromic eyeglass lenses that darken in sunlight, has agreed to cease certain business practices that the agency alleged were anticompetitive.

The FTC alleged that Transitions, a PPG Industries Inc. (PPG) joint venture with Essilor International SA (ESLOY, EI.FR), used its monopoly power to strong-arm key distributors into exclusive agreements and unfairly box out competitors.

The FTC said Transitions' practices have led consumers to pay higher prices for the lenses.

The agency said photochromic lenses account for about 20% of all corrective eyeglass lenses purchased by U.S. consumers, with sales totaling about $630 million at the wholesale level. It said Transitions holds an 85% share of that market.

The FTC said the company agreed to stop all exclusive dealing practices that pose a threat to competition.

Transitions Optical said in a written statement that it believed its practices "are, and have been lawful, fair, pro-competition and pro-consumer. But we also take seriously the FTC's goal of fostering greater competition in the eyewear marketplace."

The company said the terms of the FTC settlement "go above and beyond what we believe is required under the law."

-By Brent Kendall, Dow Jones Newswires; 202-862-9222; brent.kendall@dowjones.com
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