BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  C2C Services & Suppliers™
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

GlaxoSmithKline (GSK), Merck & Co., Inc. (MRK), Sanofi (France) (SAN.PA) Contacted About Possible $10-Billion Buy of Bausch & Lomb: Sources


12/12/2012 8:07:52 AM

Warburg Pincus LLC hired Goldman Sachs Group Inc. (GS) to explore the sale of its Bausch & Lomb Inc. eye-care company, said two people with knowledge of the matter. Warburg may seek at least $10 billion for the business, said one of the people, who asked not to be named because the process is confidential. The asset may only fetch as much as $8 billion, said another person familiar with the deliberations. Bausch & Lomb makes products from contact lenses and solutions to equipment used in eye surgery. Warburg Pincus bought the Rochester, New York-based company for $3.7 billion in September 2007 after the eye-products maker was marred by accounting errors, lawsuits and the recall of one of its contact lens solutions. Goldman this month contacted health-care companies such as Sanofi (SAN), GlaxoSmithKline Plc (GSK) and Merck & Co., one person said. Other companies, such as Abbott (ABT) Laboratories, also will be contacted, according to that person. Warburg Pincus had talked to financial advisers about taking Bausch & Lomb public, the person said. The New York-based private-equity firm chose Goldman Sachs to run a limited sales process, and if a buyer can’t be found Warburg Pincus may pursue an IPO, according to the person. Before Bausch & Lomb was taken private, Advanced Medical Optics Inc., now owned by Abbott Park, Illinois-based Abbott, tried to buy the company in July 2007 with a $4.3 billion bid. Bausch & Lomb’s chairman Fred Hassan, who is also a managing director at Warburg Pincus, has a history as a dealmaker in the health-care industry. He engineered the $37 billion takeover in March 2000 of Monsanto Co. by Pharmacia & Upjohn, he sold Pharmacia to New York-based Pfizer Inc. for $58 billion in 2003, and led Schering-Plough Corp. when it was sold to Whitehouse Station, New Jersey-based Merck for $41 billion in 2009.

Read at Bloomberg
Read at Reuters
Read at New York Times
Read at Wall Street Journal


   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->