Consumer Health Brands Will Be Included In Bausch's Spin-Out Of Bausch Part Of Company
“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.
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Bausch + Lomb’s Alaway Preservative-Free antihistamine eye drops launch in US, The Bausch Health Companies division planned as spin-out also recently gained South Korean approval for its Lumify OTC redness reliever drops and has submissions under review in other countries.
Sales of its segment leaders Ocuvite and PreserVision vision health supplements, Lumify OTC eye drops and other consumer lines were down a reported 13% to $321m in the second quarter.
CEO Joseph Papa says firm isn’t valued equal to sum of its parts. "If some of the parts don't seem to make sense or don't seem to be capturing the full value of a business,” Bausch “will look at all the alternatives for looking at things like spin-offs of parts of the business,” he says.