Features | Partner Sites | Information | LinkXpress
Sign In
GLOBETECH PUBLISHING
JIB
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: Alternative splicing produces two protein isoforms (Photo courtesy of Wikimedia Commons).

Key Regulator of Cancer-Inducing Alternative Splicing Identified

Cancer researchers have identified the splicing factor RBM4 (RNA-binding protein 4) as a key determinant in processes that prevent tumor development and spread. RBM4 is known to be crucial to gene splicing... Read more

Drug Discovery

view channel

Ibuprofen May Restore Immune Function in Older Individuals

New research suggests that macrophages from the lungs of old mice respond differently to infections than those of young mice, and ibuprofen given to the mice reversed these changes. New research using lab mice suggests that the solution to more youthful immune function might already be a common over-the-counter pain reliever.... Read more

Therapeutics

view channel
Image: Hair follicle (blue) being attacked by T cells (green) (Photo courtesy of Christiano Lab/Columbia University Medical Center).

Hair Restoration Method Clones Patients’ Cells to Grow New Hair Follicles

Researchers have developed of a new hair restoration approach that uses a patient’s cells to grow new hair follicles. In addition, the [US] Food and Drugs Administration (FDA) recently approved a new drug... Read more

Lab Technologies

view channel
Image: Leica Microsystems launches the inverted research microscope platform Leica DMi8 (Photo courtesy of Leica Microsystems).

New Inverted Microscope Designed to Readily Adapt to Changing Research Demands

A new inverted microscope for biotech and other life science laboratories was designed to readily accommodate modifications and upgrades to allow it to keep current with changing research demands and interests.... Read more
 
Copyright © 2000-2014 Globetech Media. All rights reserved.