Valeant to buy Bausch & Lomb for $8.7 billion

Valeant Pharmaceuticals International said on Monday that it has agreed to buy Bausch & Lomb Holdings Inc from Warburg Pincus LLC for $8.7 billion in cash,a deal expected to transform Valeant into a global leader in eye care.

Toronto | Published:May 28, 2013 3:55 am

Valeant Pharmaceuticals International said on Monday that it has agreed to buy Bausch & Lomb Holdings Inc from Warburg Pincus LLC for $8.7 billion in cash,a deal expected to transform Valeant into a global leader in eye care.

The purchase is seen strengthening Valeant’s capabilities in ophthalmic pharmaceuticals,contact lenses and lens care products,along with adding ophthalmic surgical devices and instruments to its portfolio of offerings.

“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,” Valeant chief executive Michael Pearson said. “With this,Valeant will be a worldwide leader in both dermatology and eye health.”

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