fbpx

Valeant buys Bausch + Lomb

The Quebec pharmaceutical Valeant has acquired Bausch + Lomb, the global leader in eye health, for $8.7 billion.

 

Half of the payment will go directly to the investor group led by Warburg Pincus, which bought B + L in 2007 for $4.5 billion, while the other half will be used to repay B + L’s outstanding debt. To finance the acquisition, Valeant will issue $2 billion in new equity and borrow the rest.

 

Valeant will integrate its ophthalmology businesses into the new division, which will retain the name Bausch + Lomb. The pharmaceutical company expects to achieve $800 million in cost savings by 2014. B + L distributes such products as Vision Care, ONEday, PureVision, along with the Besivance, Lotemax, and Ocuvite treatments.

 

There have been rumours for months that Bausch + Lomb was being sold, but when it came time to discuss potential buyers, names like Abbott Laboratories, Johnson & Johnson, and Sanofi, even Merck & Co and Pfizer, were frontrunners, as ClipInfo.ca reported on January 8, 2013. More recently, in February, Warburg Pincus was considering the initial public offering route to unload B + L, saying it was disappointed in the bids it had received.

 

Source: http://ir.valeant.com/investor-relations/news-releases/news-release-details/2013/Valeant-Pharmaceuticals-International-Inc-To-Acquire-Bausch–Lomb-For-87-Billion/default.aspx

Featured Posts

EssilorLuxottica Diesel

EssilorLuxottica and Diesel Announce a 10-Year licensing Agreement

EssilorLuxottica and Diesel announced that they have signed an exclusive license agreement for the design, manufacture, and worldwide distribution of Diesel eyewear.

Learn More

OSI Summit East 2024: A Resounding Success in Halifax

The OSI Summit East had Halifax’s Marriot Harbourfront Hotel echoing with innovation and collaboration.

Read more
Marchon Longchamp

Marchon and Longchamp Announce Renewal of Exclusive Global Eyewear Licensing Agreement

Marchon Eyewear and Longchamp, the French luxury brand, announced the multi-year renewal of their global eyewear licensing agreement.

Read more
Etnia Barcelona Gorgonia

Etnia Barcelona Launches Underwater Campaign for Its Spring-Summer Collection

Etnia Barcelona presents its new Underwater campaign, transporting us to a surreal and hypnotic universe that evokes the mystery of the deep sea.

Read more
Specsavers logo

Specsavers Champions Next Generation of Optometrists in Canada with ASCO Sponsorship

Specsavers has announced their sponsorship of the Association of Schools and Colleges of Optometry (ASCO).

Read more
EssilorLuxottica Diesel

EssilorLuxottica and Diesel Announce a 10-Year licensing Agreement

EssilorLuxottica and Diesel announced that they have signed an exclusive license agreement for the design, manufacture, and worldwide distribution of Diesel eyewear.

Learn More

OSI Summit East 2024: A Resounding Success in Halifax

The OSI Summit East had Halifax’s Marriot Harbourfront Hotel echoing with innovation and collaboration.

Read More
Marchon Longchamp

Marchon and Longchamp Announce Renewal of Exclusive Global Eyewear Licensing Agreement

Marchon Eyewear and Longchamp, the French luxury brand, announced the multi-year renewal of their global eyewear licensing agreement.

Read More
Etnia Barcelona Gorgonia

Etnia Barcelona Launches Underwater Campaign for Its Spring-Summer Collection

Etnia Barcelona presents its new Underwater campaign, transporting us to a surreal and hypnotic universe that evokes the mystery of the deep sea.

Read More
Specsavers logo

Specsavers Champions Next Generation of Optometrists in Canada with ASCO Sponsorship

Specsavers has announced their sponsorship of the Association of Schools and Colleges of Optometry (ASCO).

Read More
EssilorLuxottica Diesel

EssilorLuxottica and Diesel Announce a 10-Year licensing Agreement

EssilorLuxottica and Diesel announced that they have signed an exclusive license agreement for the design, manufacture, and worldwide distribution of Diesel eyewear.

Learn More

OSI Summit East 2024: A Resounding Success in Halifax

The OSI Summit East had Halifax’s Marriot Harbourfront Hotel echoing with innovation and collaboration.

Read more
Marchon Longchamp

Marchon and Longchamp Announce Renewal of Exclusive Global Eyewear Licensing Agreement

Marchon Eyewear and Longchamp, the French luxury brand, announced the multi-year renewal of their global eyewear licensing agreement.

Read more
Etnia Barcelona Gorgonia

Etnia Barcelona Launches Underwater Campaign for Its Spring-Summer Collection

Etnia Barcelona presents its new Underwater campaign, transporting us to a surreal and hypnotic universe that evokes the mystery of the deep sea.

Read more
Specsavers logo

Specsavers Champions Next Generation of Optometrists in Canada with ASCO Sponsorship

Specsavers has announced their sponsorship of the Association of Schools and Colleges of Optometry (ASCO).

Read more
EssilorLuxottica Diesel

EssilorLuxottica and Diesel Announce a 10-Year licensing Agreement

EssilorLuxottica and Diesel announced that they have signed an exclusive license agreement for the design, manufacture, and worldwide distribution of Diesel eyewear.

Learn More

OSI Summit East 2024: A Resounding Success in Halifax

The OSI Summit East had Halifax’s Marriot Harbourfront Hotel echoing with innovation and collaboration.

Read more
Marchon Longchamp

Marchon and Longchamp Announce Renewal of Exclusive Global Eyewear Licensing Agreement

Marchon Eyewear and Longchamp, the French luxury brand, announced the multi-year renewal of their global eyewear licensing agreement.

Read more
Etnia Barcelona Gorgonia

Etnia Barcelona Launches Underwater Campaign for Its Spring-Summer Collection

Etnia Barcelona presents its new Underwater campaign, transporting us to a surreal and hypnotic universe that evokes the mystery of the deep sea.

Read more
Specsavers logo

Specsavers Champions Next Generation of Optometrists in Canada with ASCO Sponsorship

Specsavers has announced their sponsorship of the Association of Schools and Colleges of Optometry (ASCO).

Read more