Bausch Health soars on news of plan to spin off its eye health business

6 August 2020

Shares of Canada-based Bausch Health Companies (TSX: BHC) roared ahead 27% pre-market today after the company announced its intension to spin off leading eye health business into an independent publicly traded entity. The stock was still up 9.2% at $21.24 by mid-morning.

The business, known as Bausch & Lomb, accounted for nearly half of the company's $8.6 billion in revenue last year. The spinoff will establish two separate companies that include:

A fully integrated, pure play eye-health company built on the iconic Bausch + Lomb brand and long history of innovation; and
A diversified pharmaceutical company with leading positions in gastroenterology, aesthetics/dermatology, neurology and international pharmaceuticals.

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