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Bausch + Lomb completes acquisition of Ista Pharmaceuticals
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Bausch + Lomb’s all-cash acquisition of Ista Pharmaceuticals for approximately $500 million has been finalized, according to a press release from Bausch + Lomb.
The deal is expected to add more than $150 million to Bausch + Lomb’s annual sales while expanding the company’s pipeline and product portfolio, the release said.
“Together, we are building a high-performance company that can deliver even more benefits for the patients and customers we serve," Brent Saunders, president and chief executive officer of Bausch + Lomb, said in the release. “ISTA’s business complements our own very well, and we are excited about the opportunities this transaction creates.”
No immediate changes to either company’s products are planned, according to the Bausch + Lomb website, but an integration team will study whether future changes may be necessary. The website also notes that Bausch + Lomb is committed to maintaining a presence in Orange County, Calif., where Ista is headquartered, but will maintain its global pharmaceutical headquarters in Madison, N.J.
Bausch + Lomb will update customers, suppliers and other partners throughout the integration process to make the merger as seamless as possible, the release said.