Bausch + Lomb Begins Trading under “BLCO” on NYSE and TSX
Fully Integrated Eye Health Business Sets Its Sights On Helping the World See Better To Live Better
VAUGHAN, ON, May 6, 2022 /PRNewswire/ — Bausch + Lomb Corporation (NYSE/TSX: BLCO) (“Bausch + Lomb”), a leading global eye health company dedicated to helping people see better to live better, today launched as A publicly traded company focused on protecting and enhancing the gift of sight for millions of people around the world when it began trading under the “BLCO” symbol on the New York Stock Exchange and Toronto Stock Exchange.1
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“Today marks a tremendous milestone for Bausch + Lomb and an important step forward on the path to an independent company focused on eye health,” said Joseph C. Papa, chairman and CEO, Bausch + Lomb. “Bausch + Lomb has long been associated with many of the most significant advances in eye health, and I am honored to work alongside our 12,000 global employees as we continue to focus on achieving our ongoing mission of helping people see better to live better all over the world.”
As a fully integrated eye health company, Bausch + Lomb offers a comprehensive portfolio of more than 400 products spanning contact lenses, lens and eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Since its founding in 1853, Bausch + Lomb has been dedicated to advancing eye health for people all over the world, and has pioneered hundreds of innovations, including SofLens®, the first mass-produced soft contact lens. Bausch + Lomb’s current portfolio includes market-leading products, such as Biotrue® and renu® multi-purpose solutions, Biotrue® ONEday daily disposable contact lenses, LUMIFY® redness reliever eye drops, PreserVision® AREDS 2 formula eye vitamin and mineral supplement and VYZULTA® (latanoprostene bunod ophthalmic solution), 0.024%.
Innovative Pipeline Expected to Drive Future Growth
“Over the course of our company’s nearly two century long history, Bausch + Lomb has always stood at the forefront of cutting-edge scientific and technological optical advancements, and today is no different. We are more focused than ever on developing and offering new treatments to meet unmet eye health needs,” continued Mr. Papa.
Bausch + Lomb currently has projects in various stages of pre-clinical and clinical development, including new over-the-counter eye care products, contact lenses, innovative software and prescription medications for myopia management, next-generation cataract and LASIK surgical equipment, premium intraocular lenses, investigational treatments for dry eye and preservative-free formulations of a range of eye drops.
Strong, Experienced Leaders Selected for Board of Directors and Executive Management Team
The Bausch + Lomb Board of Directors, which includes the following individuals, has a balance of strong business and health care experience:
- Joseph C. Papa, Chairman
- Thomas W. Ross, Sr., Lead Independent Director
- Nathalie Bernier
- Richard U. DeSchutter
- Sarah B. Kavanagh
- John A. Paulson
- Russel C. Robertson
- Andrew C. von Eschenbach, MD
The Bausch + Lomb executive management team includes:
- Joseph C. Papa, Chairman and CEO
- Christina Ackermann, Executive Vice President & General Counsel, and President, Ophthalmic Pharmaceuticals
- Dennis Asharin, Executive Vice President, Chief Global Manufacturing and Supply Chain Officer
- Sam Eldessouky, Chief Financial Officer
- Joseph (Joe) Gordon, President, Global Consumer, Surgical and Vision Care
- Yehia Hashad, MD, Executive Vice President of Research & Development and Chief Medical Officer
- Louis Yu, Ph.D., Executive Vice President, Chief Quality Officer
- Kelly Webber, Executive Vice President, Chief Human Resources Officer
More information, including biographies of the members of the Board of Directors and executive management team and information for investors, can be found on Bausch + Lomb’s updated corporate website, www.bausch.com.
Bausch + Lomb Views ESG as Doing Business Well By Doing Good
In addition to its commitment to innovation, Bausch + Lomb is dedicated to implementing sustainable business practices and to identifying opportunities to build and enhance our environmental, social and governance initiatives that support all stakeholders, including employees, consumers, eye care professionals and patients. These initiatives include the Bausch Foundation, which contributes financial and product donations to charitable health organizations, as well as the ONE by ONE Recycling program, the first and only contact lens recycling program in the United States, and the Biotrue® Eye Care Recycling program, the first and only eye care recycling program in the United States.
About Bausch + Lomb
Bausch + Lomb 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. For more information, visit www.bausch.com and connect with us on Twitter, LinkedIn, Facebook and Instagram.
This news release may contain forward-looking statements, within the meaning of applicable securities laws (collectively, “forward-looking statements”), including, but not limited to, statements respecting the appointment of certain management team members and the anticipated effective date of Such appointments and statements about the trading of Bausch + Lomb’s common shares. Forward-looking statements may generally be identified by the use of the words “anticipates,” “hopes,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions, and phrases or statements that certain actions, events or results may, could, should or will be achieved , received or taken, or will occur or result, and similar such expressions also identify forward-looking information. These forward-looking statements are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs, and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch + Lomb’s filings with the US Securities and Exchange Commission and the Canadian Securities Administrators, which risks and uncertainties are incorporated herein by reference. These risks and uncertainties also include, but are not limited to, the risks relating to the completion of Bausch + Lomb’s initial public offering, including due to unfavorable market or other conditions or factors; changes in the anticipated timing for closing the transaction; business disruption during the pendency of or following the transaction; diversion of management time on transaction-related issues; the ability to retain Bausch + Lomb management team members; risks related to the reaction of customers and other parties to such transaction; the impact of such transaction on relationships with customers, suppliers, employees and other business counterparties; the risk that the proposed distribution of Bausch + Lomb common shares to Bausch Health’s shareholders does not occur in the manner or on the timelines anticipated or at all; and other events that could adversely impact the completion of the transaction, including industry or economic conditions outside of Bausch + Lomb’s control. In particular, Bausch + Lomb can offer no assurance that any distribution will occur at all, or that any such transaction or transactions will occur on the timelines, in the manner or on the anticipated terms by Bausch + Lomb. They also include, but are not limited to, risks and uncertainties caused by or relating to the COVID-19 pandemic, including a possible resurgence of the virus and variant strains thereof and its impact on access to health care products and services, the availability and use of effective vaccines, the imposition of new social restrictions, disruptions in Bausch + Lomb’s supply chain and distribution channels or the ongoing macroeconomic and health care recovery from the pandemics of the COVID-19. In addition, certain material factors and assumptions have been applied in making these forward-looking statements, including the assumption that the risks and uncertainties outlined above will not cause actual results or events to differ materially from those described in these forward-looking statements.
Bausch + Lomb believes that the material factors and assumptions reflected in these forward-looking statements are reasonable in the circumstances, but 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 undertakes no obligations 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.
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1 The common shares have been approved for listing on the New York Stock Exchange (“NYSE”) and conditionally approved for listing on the Toronto Stock Exchange (“TSX”). The common shares begin trading on the NYSE and on an “if, as and when issued basis” on the TSX on May 6, 2022; and the IPO is expected to close on May 10, 2022, subject to custom closing conditions.