Features | Partner Sites | Information | LinkXpress
Sign In
GLOBETECH PUBLISHING
GLOBETECH PUBLISHING
PZ HTL SA

Valeant Pharmaceuticals to Buy Bausch & Lomb

By BiotechDaily International staff writers
Posted on 06 Jun 2013
Valeant Pharmaceuticals International (Laval, Canada) has agreed to buy Bausch + Lomb (Rochester, NY, USA) from Warburg Pincus (New York, NY, USA) for USD 8.7 billion.

Bausch + Lomb is a leading global eye health company that operates in three segments: pharmaceutical (including prescription brands, generics, and over-the-counter (OTC) products; vision care (contact lenses and solutions); and surgical (intraocular lenses and surgical equipment). Bausch + Lomb has a broad portfolio of eye health products, including well-known prescription and OTC brands such as Besivance, Lotemax, Ocuvite and PreserVision; vision care brands Biotrue ONEday, PureVision, renu and Boston; and the surgical brands enVista, Storz, Stellaris, and VICTUS.

The Bausch + Lomb acquisition is Valeant's biggest acquisition to date, and will place it roughly among the 15 largest global pharmaceutical companies, strengthening Valeant's offerings in ophthalmic pharmaceuticals, contact lenses and lens care products, along with adding ophthalmic surgical devices and instruments to its portfolio. Valeant plans to keep all three of Bausch & Lomb's market segments, belying market speculation that the company would seek to sell the surgical instruments arm.

The purchase price includes USD 4.5 billion in cash to the current owners, including private-equity firm Warburg Pincus, and another USD 4.2 billion in cash to pay Bausch + Lomb’s current debt burden. For Warburg Pincus the sale represents a threefold return on its 2007 investment. Warburg Pincus and other owners have already cashed out a USD 772 million dividend from Bausch & Lomb, funded by a debt raise earlier in 2013.

“We are excited to announce the acquisition of Bausch + Lomb, which will transform Valeant into a global leader in eye health,” said Michael Pearson, chairman and CEO of Valeant. “Bausch + Lomb's world-renowned brand, comprehensive portfolio of leading eye care products, and promising late stage pipeline are an ideal strategic fit for our current ophthalmology business and we are strongly committed to continuing to build a sustainable eye health business.”

“Valeant's acquisition of our company is a testament to the tremendous value our talented employees have created over the past several years,” said Brent Saunders, CEO of Bausch + Lomb. “Our companies have a shared commitment to providing innovative and high quality products and exceptional service to customers. I am confident that under their stewardship, the Bausch + Lomb brand will continue to stand for excellence and innovation in eye health.”

Related Links:
Valeant Pharmaceuticals International
Bausch + Lomb
Warburg Pincus



comments powered by Disqus

Channels

Genomics/Proteomics

view channel

Researchers Discover New Data on Protein Kinase A

By employing X-rays and neutron beams, a team of researchers have gleaned new information about protein kinase A (PKA), an omnipresent master control protein that helps regulate basic cellular functions such as energy consumption and interactions with neurotransmitters, hormones, and drugs. The scientists who conducted... Read more

Drug Discovery

view channel

Molecule in Green Tea Used as Carrier for Anticancer Proteins

A molecule that is a key ingredient in green tea can be employed as a carrier for anticancer proteins, forming a stable and effective therapeutic nanocomplex. This new discovery could help to construct better drug-delivery systems. Some cancer treatments depend on medication comprising the therapeutic drug and a carrier... Read more
 
Copyright © 2000-2014 Globetech Media. All rights reserved.