Valeant Keeps Door Open For Consumer Products Acquisitions
This article was originally published in The Tan Sheet
The specialty pharmaceutical firm’s consumer products portfolio has grown with the closing of its ophthalmology firm Bausch & Lomb acquisition. Valeant is not ruling out more acquisitions in the consumer products space, CEO J. Michael Pearson says.
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The fast-growing, Canadian specialty pharma will shed more than 2,700 jobs as it absorbs Bausch & Lomb, as part of an endeavor to save $800 million. CEO Mike Pearson’s note to employees describes a new organizational philosophy, with restructured management and business units.
Bausch + Lomb retains its name and becomes a division of Valeant in the $8.7 billion acquisition expected to close in the 2013 third quarter.
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