Features | Partner Sites | Information | LinkXpress
Sign In
JIB
GLOBETECH PUBLISHING
GLOBETECH PUBLISHING

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
Image: To adhere to catheters and start urinary tract infections, bacteria extend microscopic fibers with sticky proteins at their ends. Researchers have developed a vaccine that blocks the EbpA protein, visible as a white bulge above, and stops infections in mice (Photo courtesy of Dr. John Heuser, Washington University School of Medicine).

Blocking Binding of Bacteria to Fibrinogen Prevents Biofilm Formation and Catheter-Associated Bladder Infection in Mice

A team of molecular microbiologists has identified and targeted a critical step in biofilm formation and developed a vaccine that prevents catheter-associated urinary tract infections in mice.... Read more

Drug Discovery

view channel
Image: S-649266 has more robust antibacterial activity than established antibiotics against multidrug-resistant bacteria (Photo courtesy of Shionogi).

Novel Antibiotic Shows Potential for Broad Range of Infections

The emergence of bacterial resistance to known antibacterial agents is becoming a major challenge in treating the infection caused by multi drug resistant (MDR) bacteria. In order to treat bacterial... Read more
 
Copyright © 2000-2014 Globetech Media. All rights reserved.