“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. 

Sales of the Bristol PD-1 inhibitor dropped 9% year-over-year but the company says approvals in first-line NSCLC are off to a good start. Q2 saw growth for Eliquis and Revlimid despite pandemic impact.

Galenica struggled to keep up with OTC market growth in Switzerland as the COVID-19 outbreak severely hampered its sales in the opening six months of the year.