Report: Valeant shopping sale of surgical eye biz

Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX) is looking to sell its Bausch & Lomb division’s surgical product assets to Carl Zeiss Meditec (ETR:AFX), according to a Bloomberg report.

The surgical eye assets could be worth approximately $2 billion, according to the report, with a possible agreement still weeks away.

No final decisions have been made, and other interested parties could be looking to pick up the assets as well, according to Bloomberg. Representatives from both Carl Zeiss Meditec and Valeant have declined to comment on the possible acquisition.

Valeant is considering divestitures as it seeks to reduce its $28.9 billion in debt, looking to stabilize its position after 2 years of disappointing sales and government probes into its pricing, according to the report.

In early May, Valeant saw shares rise more than 25% after it met earnings expectations on Wall Street, but missed on revenue with its 1st quarter results.

The Canada-based company posted profits of $628 million, or $1.79 per share, on sales of $2.11 billion for the 3 months ended March 31, for bottom-line growth of 267% on sales loss of -11% compared with the same period last year.

The post Report: Valeant shopping sale of surgical eye biz appeared first on MassDevice.

from MassDevice http://ift.tt/2s0Qumy