Bausch Health Rises From Valeant's Simmering Ashes
Valeant will change its name to Bausch Health beginning in July and get a new ticker symbol, BHC, as the new management team looks to leave the company's checkered past behind.
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Olema launched this year’s 75th US biopharma IPO. Also, investments in regenerative medicines reached a new high, Qiming closed a $1.2bn China-focused VC fund, D3 Bio led recent venture deals with a $200m round, and Bausch sold $2bn worth of notes to pay down near-term debts.
“The spin-off will establish two separate companies, a fully integrated, pure play, eye health company built on the iconic Bausch Health brand and a long history of innovation, and an international diversified pharmaceutical company with leading physicians in gastroenterology, dermatology, aesthetics, neurology and an international pharma business,” says CEO Joseph Papa.
The company formerly known as Valeant, put together by a series of mergers, is ready to spin out the legacy Bausch + Lomb eyecare business that it used in its rebranding.