After IPO, Bausch + Lomb turns to an industry favorite to run the company

Bausch + Lomb Corp.’s decision to bring back Brent Saunders as CEO hints at the company’s broader ambitions in the global eye-care market.

Bausch + Lomb’s BLCO stock was up about 9% in trading on Thursday after the company announced that Saunders will return to the company, officially taking over as CEO and chair on March 6. He previously ran what was then called Bausch & Lomb from 2010 to 2013, and he’ll continue to serve as chair of Beauty Health Co. SKIN , which markets the HydraFacial system.

The company was acquired by Valeant Pharmaceuticals Inc. for $4.5 billion in 2013. At that time, Valeant had a unique approach to growth: It acquired lots of companies and then cut spending on research and development to 3% of total revenue — at a time when the industry average was about 20%, according to Phrma, a lobbying group.

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