Features Partner Sites Information LinkXpress
Sign In
Demo Company

Valeant Pharmaceuticals to Buy Bausch & Lomb

By BiotechDaily International staff writers
Posted on 06 Jun 2013
Print article
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

Print article



view channel
Image: Glioblastoma multiforme (GBM) (Photo courtesy of the University of California, San Diego School of Medicine).

How Blocking TROY Signaling Slows Brain Cancer Growth

Cancer researchers have found how the low molecular weight drug propentofylline (PPF) slows the growth of the aggressive brain tumor glioblastoma multiforme (GBM). This form of brain cancer is the most... Read more


view channel

Molecular Light Shed on “Dark” Cellular Receptors

Scientists have created a new research tool to help find homes for orphan cell-surface receptors, toward better understanding of cell signaling, developing new therapeutics, and determining causes of drug side-effects. The approach may be broadly useful for discovering interactions of orphan receptors with endogenous, naturally... Read more

Lab Technologies

view channel
Image: The new ambr 15 fermentation micro-bioreactor system was designed to enhance microbial strain screening applications (Photo courtesy of Sartorius Stedim Biotech).

New Bioreactor System Streamlines Strain Screening and Culture

Biotechnology laboratories working with bacterial cultures will benefit from a new automated micro bioreactor system that was designed to enhance microbial strain screening processes. The Sartorius... Read more
Copyright © 2000-2015 Globetech Media. All rights reserved.