The Canadian pharmaceutical company Valeant, agreed to acquire the laboratory specialized in ophthalmology Bausch & Lomb, owned by the Warburg Pincus fund.
The Canadian pharmaceutical company Valeant, which sold its assets in Argentina in 2008, agreed to acquire the laboratory specialized in ophthalmology Bausch & Lomb, owned by the Warburg Pincus fund.
In order to carry out this transaction, Valeant will pay out $8.7 billion—$4.2 billion of which will be allocated to settle a debt that the acquired company has incurred. See press release.
Bausch + Lomb will retain its name and become a division of Valeant.
At the same time, Valeant’s ophthalmology unit will be integrated into the division of Bausch + Lomb. Thus, an eye health care platform with profits of approximately $3.5 billion will be created.
“Valeant is after companies with solid cash flow in areas of rapid growth,” said its CEO Mike Pearson in a conference call with investors held this month.
Bausch + Lomb is a leading global health care company that operates in three segments: Pharmaceutical (including prescription brands, generics, and OTC), Vision Care (solutions and contact lenses), and Surgical (intraocular lenses and surgical equipment).
Its most outstanding brands are Besivance, Lotemax, Ocuvite, and PreserVision. In Vision Care, the most important brands are Biotrue ONEday, PureVision, Renu, and Boston.
Renato De Giorgi is the general manager of Bausch + Lomb in Argentina. The company’s main office is on Juan B. Justo Avenue, Villa Crespo neighborhood, but it is moving to Vicente López district this month.
Bausch + Lomb distinguishes for having a lens manufacturing plant in Vicente López district, Argentina.
Two years ago, it revolutionized the market in Argentina after acquiring Waycon, which used to be part of the local company Pförtner. See article.