Tuesday, January 18, 2022

Bausch + Lomb is listed in the U.S. and Canada, revealing revenue growth

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() – Eye care maker Bausch + Lomb Corp. filed an application to go public through a primary public offering in the U.S. and Canada on Thursday, announcing a jump in sales for the first time.

The company said its revenue for the nine months ended Sept. 30 last year was $ 2.76 billion, up from $ 2.47 billion in the same period last year.

It seeks to sell shares of up to $ 100 million, which will be used to calculate filing fees, and aims to use that money to further expand its business.

Founded in 1853 as a small optical products store in New York, the 169-year-old company now supplies branded and generic medicines, contact lenses and lens care products to more than 150 million people in more than 90 countries.

It was first listed on the New York Stock Exchange in 1958, but was privatized in 2007 when it was acquired by Warburg Pincus.

In 2013, Canadian drug manufacturer and parent company Bausch Health Companies Inc., formerly known as Valeant Pharmaceuticals, acquired Bausch + Lomb from Warburg Pincus.

The parent company announced its decision in August 2020 to turn its eye health business into a separate open facility, but it said it would retain a majority stake.

Morgan Stanley and Goldman Sachs are the leading underwriters. According to the application submitted here, the company will be registered under the sign “BLCO”.

Interviews by Mehnaz Yasmin and Ananya Mariam Rajesh in Bengaluru; Edited by Arun Koyyur

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