Novartis has agreed to sell ophthalmology assets to Bausch + Lomb for an upfront payment of $1.75 billion, with potential milestone payments of up to $750 million. The total value of the deal could reach $2.5 billion. Novartis expects the deal to improve their focus more on higher-margin drugs. Under the terms of the deal,…
Bausch Health gets new chair
The chair of Bausch Health (NYSE:BHC), Joe Papa, has resigned. The company has named the billionaire hedge fund manager John Paulson to assume the role. In an announcement, Bausch Health noted that the decision for Papa to resign was “not due to any dispute or disagreement” with the company or board. In May, Bausch Health…
Bausch + Lomb makes its stock market debut
After Bausch Health (NYSE:BHC) spun out its eye care unit Bausch + Lomb Corp. (NYSE/TSX:BLCO), its stock dipped 4.3% to $16.04 while BLCO shares increased 8.11% to $20.00 from a starting price of $18.00 per share. The $18 price tag was short of Wall Street’s expectations. The initial public offering was one of the first…