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Bausch Health Plans To Spin Off Eye Health Business

(RTTNews) - Bausch Health Companies Inc. (BHC, BHC.TO) announced Thursday it intends to spin off its eye health business into an independent publicly traded entity from the remainder of Bausch Health.

In pre-market activity, Bausch Health shares gained 20 percent to trade at $23.32.

The spinoff will establish two separate companies, such as a fully integrated, pure play eye-health company built on the iconic Bausch + Lomb brand, as well as a diversified pharmaceutical company.

The new Bausch + Lomb - NewCo will consist of Bausch Health's global vision care, surgical, consumer and ophthalmic Rx businesses. It would have had 2019 revenue of approximately $3.7 billion.

Further, BHC will comprise a diversified portfolio of durable brands across the Salix, International Rx, Solta, neurology and medical dermatology businesses. It would have had 2019 revenue of approximately $4.9 billion.
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