With Timetable In Hand And Icahn On Board, Bausch Health Looks To ‘Expedite Spin-Off’
Executives say Bausch + Lomb spin-out preparations will be completed by the end of Q3. When asked, they elaborated on Carl Icahn’s acquisition of 27.8m shares, for a 7.8% stake, and expansion of the firm’s board by two seats for Icahn’s representatives.
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Biotrue Hydration Boost contains glyercrin, available in the US as an ophthalmic remedy under an FDA OTC monograph. Launch is latest addition to Baush + Lomb consumer portfolio as Bausch Health prepares to make it a standalone firm.
Bausch Health CEO Joseph Papa will move over to head separate Bausch + Lomb pure-play eye health business and is preparing a team for either a spin-off or initial public offering of the unit in the third quarter, the executive said during a first quarter earning call 4 May. Papa said a sale of the division, which includes consumer health eye drops and dietary supplements, is also possible.
FDA ODSP details “data, research results, and other information” it needs on NAC that could sway proposing a rulemaking to allow its continued use in supplements. One detail missing is what the agency’s asking for are NDI notifications for NAC.