In a company announcement, Bausch Health (BH) said it intends to spin off its eye health business into an independent, publicly traded entity to unlock value and increase its strategic focus.
The new entity would be a fully integrated, pure eye-health company built on the Bausch + Lomb brand, while the remaining BH business would become a diversified pharmaceutical company with leading positions in gastroenterology, aesthetics/dermatology, neurology and international pharmaceuticals, said Bausch Health’s CEO Joseph Papa.
"We are committed to taking action to unlock what we see as unrecognised value in Bausch Health shares, and we believe that separating our business into two highly focused, stand-alone companies is the way to accomplish that goal."
The timing of the anticipated spinoff is linked to fulfilling certain conditions and approvals, including the reorganisation of the reporting segments, said BH, and should start in the first quarter of 2021.
