Bengaluru — Canadian drugmaker Bausch Health said on Thursday that it will spin off its eye care unit, Bausch + Lomb, into a separate, publicly listed company, seven years after acquiring it for nearly $9bn.Bausch Health, previously known as Valeant Pharmaceuticals, has sought to get past a flurry of investigations into its accounting and pricing practices under its previous management.
Since its purchase in 2013, Bausch + Lomb has been a stable source of revenue for the company, especially after the accounting issues led to a steep fall in the share price of the one-time Wall Street darling, compounded by concerns over Bausch’s large debt pile.
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