Valeant to buy Bausch + Lomb for $8.7B

ROCHESTER, N.Y. — Canadian drugmaker Valeant Pharmaceuticals says it will buy eye-health company Bausch + Lomb for $8.7 billion in cash in a massive expansion of its ophthalmology business.
Valeant says the deal will help it capitalize on increasing demand for contact lenses and other products because of aging populations, growing demand in emerging markets and increasing rates of diabetes.
Investment firm Warburg Pincus, which leads an investment group that owns Bausch + Lomb, will receive $4.5 billion in cash. The remaining $4.2 billion will be used to repay Bausch + Lomb's debt.
Rochester, N.Y.-based Bausch + Lomb Holdings Inc. makes contact lenses, eye drugs and ophthalmic surgical devices.
Bausch + Lomb will keep its name and become a division of Valeant Pharmaceuticals International Inc., based in Laval, Quebec.

Prominent hotel developer and Missouri philanthropist John Q. Hammons has died. He was 94. His company says Hammons passed away Sunday at the Springfield nursing home where he'd lived after stepping away from the company he led well into.

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Anika Devi received her Bachelor’s degree in Media, Culture and Communication from New York University in 2012. She began freelancing for Business Solutions BD in 2010 and joined the team as a staff writer three years later. She currently serves as the assistant editor.
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