Valeant Acquires Bausch + Lomb for $8.7B

Valeant Pharmaceuticals, based in Quebec, Canada, has acquired ophthalmic products company Bausch + Lomb for $8.7 billion, according to a CNN Money report.

Warburg Pincus, private equity firm, received $4.5 billion in the acquisition deal. The other $4.2 billion of Valeant's payment was used to cover Bausch + Lomb's outstanding debt.

Valeant's acquisition is a step in the company's efforts to expand in the ophthalmology market.

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