Life Science News

Bausch + Lomb Corporation (NYSETSX: BLCO) ("Bausch + Lomb") and Bausch Health Companies Inc. (NYSETSX: BHC) ("Bausch Health") today announced the closing of the initial public offering ("IPO") of Bausch + Lomb. A wholly owned subsidiary of Bausch Health (the "Selling Shareholder") sold 35,000,000 common shares at a public offering price of $18.00 per share for aggregate gross proceeds of $630 million before deducting underwriting commissions and estimated offering expenses. The Selling Shareholder has granted the underwriters a 30-day option to purchase up to an additional 5,250,000 common shares of Bausch + Lomb to cover over-allotments, if any, at the initial public offering price, less discounts and commissions.

The common shares began trading on the New York Stock Exchange ("NYSE") and the Toronto Stock Exchange ("TSX") on May 6, 2022 , in each case under the ticker symbol "BLCO." Bausch Health, together with its subsidiaries, now holds approximately 90.0% of the common shares of Bausch + Lomb (before giving effect to the over-allotment option).

In connection with the IPO, Bausch Health entered into its previously announced Second Amendment (the "Second Amendment") in respect of its existing credit agreement (the "Existing Credit Agreement"). The Second Amendment provides for a new term facility with an aggregate principal amount of $2,500 million (the "2027 Term Loan B Facility") maturing on February 15, 2027 and a new revolving credit facility of $975 million (the "2027 Revolving Credit Facility") that will mature at the earlier of February 15, 2027 and the date that is 91 calendar days prior to the scheduled maturity of indebtedness for borrowed money of Bausch Health and Bausch Health Americas, Inc. ("BHA"), a wholly owned subsidiary of Bausch Health, in an aggregate principal amount in excess of $1,000 million .

In addition, Bausch + Lomb entered into a Credit and Guaranty Agreement (the "Bausch + Lomb Credit Agreement"). The Bausch + Lomb Credit Agreement provides for a five-year term loan facility in an initial principal amount of $2,500 million . The Bausch + Lomb Credit Agreement also provides for a five-year revolving credit facility in the amount of $500 million .

The net proceeds from the IPO, together with the proceeds from Bausch Health's term loans under the 2027 Term Loan B Facility, funds received from Bausch + Lomb from its borrowings under its new term loan facility as repayment of an intercompany note and cash on hand, were used to (i) repay Bausch Health's existing term loans and (ii) fund the previously announced conditional redemption of all of Bausch Health's 6.125% Notes due 2025 at a redemption price of 101.021% of the principal amount thereof. The funds from the redemption were irrevocably deposited with the Bank of New York Mellon, as trustee (the "Trustee") under the indenture governing the 6.125% Notes due 2025 (the "6.125% Notes Indenture"), and the 6.125% Notes Indenture was discharged.

Also today, Bausch Health notified the Trustee and holders of its outstanding 9.000% Senior Notes due 2025 that the conditions to its previously announced conditional redemption of such notes would not be satisfied, and the conditional redemption was cancelled.

About Bausch + Lomb
Bausch + Lomb, a leading global eye health business of Bausch Health Companies, Inc., is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from the moment of birth through every phase of life. Its comprehensive portfolio of more than 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and commercial footprint with more than 12,000 employees and a presence in nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario with corporate offices in Bridgewater, New Jersey .

About Bausch Health
Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global diversified pharmaceutical company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals and eye health, through our 90% ownership of Bausch + Lomb Corporation. With our leading durable brands, we are delivering on our commitments as we build an innovative company dedicated to advancing global health.

Forward-looking Statements
This news release may contain forward-looking statements about the Bausch + Lomb and Bausch Health, which may generally be identified by the use of the words "anticipates," "hopes," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "subject to" and variations or similar expressions, including statements about Bausch + Lomb's ability to comply with the financial and other covenants contained in the Bausch + Lomb Credit Agreement and Bausch Health's ability to comply with the financial and other covenants contained in the Second Amendment to the Existing Credit Agreement. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition, actual results are subject to other risks and uncertainties that relate more broadly to Bausch Health's and Bausch + Lomb's overall business, including those more fully described in Bausch + Lomb's and Bausch Health's respective filings with the U.S. Securities and Exchange Commission and the Canadian securities administrators, which factors are incorporated herein by reference.

Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health and Bausch + Lomb undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

Investor Contact:

Media Contact:

Christina Cheng

Lainie Keller

(908) 927-1198

Arthur Shannon

(514) 856-3855

(877) 281-6642 (toll free)

Cision View original content to download multimedia:

SOURCE Bausch Health Companies Inc.; Bausch + Lomb Corporation

News Provided by PR Newswire via QuoteMedia


Abbott to Release EleCare® Amino Acid-based Formulas to Help Meet Critical Patient Need

  • Abbott to release limited quantities of EleCare ® branded specialty formulas
  • Product will be released immediately free of charge to children in need
  • Parents and caregivers in urgent need should contact their healthcare professionals or Abbott at +1-800-881-0876 for additional information
  • Abbott plans to restart production at the Sturgis facility on June 4 and will prioritize EleCare production, with initial EleCare product release to consumers beginning on or about June 20

Abbott (NYSE: ABT) today announced that the U.S. District Court for the Western District of Michigan has amended the recent consent decree allowing Abbott to release limited quantities of its EleCare ® specialty amino acid-based formulas that were previously on hold following the Feb. 17 recall of some powder infant formulas from its Sturgis, Mich. facility. The consent decree was amended at the request of Abbott and the U.S. Food and Drug Administration (FDA) to enable the company to get EleCare to children in urgent medical need. These EleCare product batches were on hold pursuant to an agreement with the FDA.

All products have been tested and meet all product release requirements. In addition, Abbott has concluded additional, enhanced testing to provide assurance the product is safe to distribute. Abbott plans to restart production at the Sturgis facility on June 4 and will prioritize EleCare production, with initial EleCare product release to consumers beginning on or about June 20 .

Keep reading... Show less

Knight Therapeutics Enters into Exclusive License and Supply Agreements with Rigel Pharmaceuticals to Commercialize Fostamatinib in Latin America

Knight Therapeutics Inc. (TSX: GUD), a pan-American (ex-USA) specialty pharmaceutical company, today announced that it has entered into exclusive license and supply agreements with Rigel Pharmaceuticals granting Knight the rights to commercialize fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, in Latin America.

Fostamatinib is commercially available in the United States under the brand name TAVALISSE ® (fostamatinib disodium hexahydrate) and in Europe under the brand name TAVLESSE ® for the treatment of chronic immune thrombocytopenia (ITP). Fostamatinib is also currently being studied in a Phase 3 clinical trial for the treatment of warm autoimmune hemolytic anemia (wAIHA) 1 and in two Phase 3 clinical trials for the treatment of hospitalized patients with COVID-19. 2,3

Keep reading... Show less
Applied UV Inc

Applied UV Reports 1st Quarter 2022 Results

Improving Air Purification Market Trends

Applied UV, Inc. (NasdaqCM: AUVI) ("Applied UV" or the "Company"), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, announced its financial results for the first quarter 2022.

The Company is also providing key operational metrics on results of operations for the three-month period ended March 31, 2022.

Keep reading... Show less
ALR Technologies

ALR Technologies Announces Reincorporation Merger

ALR Technologies Inc. ("ALRT USA") (OTCQB: ALRT), the diabetes management company, today announces that further to its release on June 1, 2021, ALRT USA has entered into an Agreement and Plan of Merger and Reorganization (the "Reincorporation Merger Agreement") with ALR Technologies SG Pte. Ltd., a Singapore company limited by shares ("ALRT Singapore"), and its wholly-owned subsidiary, ALRT Delaware, Inc., a Delaware corporation ("ALRT Delaware"), relating to a proposed merger transaction (the "Reincorporation Merger") for the purpose of changing the jurisdiction of incorporation of ALRT USA from Nevada to Singapore.

The Reincorporation Merger will consist of a one-for-one share exchange, where at closing of the transaction, ALRT Delaware will merge with and into ALRT USA, and ALRT USA will be the surviving entity and a wholly-owned subsidiary of ALRT Singapore. ALR Delaware will then cease to exist. At closing, the stockholders of ALRT USA will exchange their shares of common stock, and any options or warrants to purchase shares of common stock which they might hold, on a one-for-one basis, for ordinary shares ("ALRT Singapore Ordinary Shares") and options or warrants to subscribe for ALRT Singapore Ordinary Shares, as applicable. The shareholders of ALRT USA prior to the transaction will have the same number of shares and same proportionate ownership of ALRT Singapore as held in ALRT USA. The parties to the Reincorporation Merger expect that the ALRT Singapore Ordinary Shares will trade on the OTCQB subsequent to the close of the transaction.

Keep reading... Show less

Medtronic to announce financial results for its fourth quarter and full fiscal year 2022

Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced that it will report financial results for its fourth quarter and full fiscal year 2022 on Thursday, May 26, 2022 . A news release will be issued at approximately 5:45 a.m. Central Daylight Time (CDT) and will be available at . The news release will include summary financial information for the company's fourth quarter and full fiscal year 2022, which ended on Friday, April 29, 2022 .

Medtronic will host a video webcast at 7:00 a.m. CDT on Thursday , May 26, 2022, to discuss financial results for its fourth quarter and full fiscal year 2022. The webcast can be accessed at .

Keep reading... Show less

New Late-Breaking Data Highlight Abbott Structural Heart Transcatheter Valve Therapies

  • Data presented at EuroPCR 2022 reinforce the impact of Abbott's minimally invasive heart devices on patient outcomes and quality of life
  • Findings demonstrate TriClip™ transcatheter edge-to-edge (TEER) repair is effective at reducing tricuspid regurgitation across a broad range of anatomies
  • One-year outcomes for Navitor™ transcatheter aortic valve implantation (TAVI) system show the safety and effectiveness of this therapy and durable performance of the sealing cuff in minimizing paravalvular leak for patients with severe aortic stenosis

Abbott (NYSE: ABT) today announced two late-breaking data presentations highlighting both TriClip™, a first-of-its kind minimally invasive tricuspid heart valve repair device, and Navitor™, the company's latest-generation transcatheter aortic valve implantation (TAVI) system. The company also showcased new data for MitraClip™ and Amplatzer™ Amulet™, two key components of the company's industry-leading structural heart portfolio.

All data were presented at EuroPCR, the annual meeting of the European Association of Percutaneous Cardiovascular Interventions, held in Paris from May 17-20, 2022 .

Keep reading... Show less

Latest Press Releases

Related News