Valeant Pharmaceuticals, which owns a Rochester company with a long history in this area, will be adopting some of that heritage.
The Canadian pharmaceutical company that owns Bausch + Lomb will change its name to Bausch Health Companies effective in July.
"Becoming Bausch Health Companies is a major step forward in our transformation," said Joseph Papa, chairman and CEO, Valeant. "The Bausch name embodies the rich history of innovation, fortitude and dedication to patient health dating back to when J.J. Bausch opened his first optical goods shop more than 165 years ago. These qualities form the foundation of who we are today as we continue to build an innovative company striving to improve the health of patients globally."
Papa says that Bausch Health Companies more accurately represents the full scope of the Company today – “a leader in the development and manufacture of a wide range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology."
As part of the name change, the Company will roll out a new corporate brand identity in July 2018, which will include new imagery and web site, and will trade under a new symbol, BHC. Until that time, the Company will continue to trade on the New York Stock Exchange and Toronto Stock Exchange under its present symbol, VRX.
Also on Tuesday, Valeant reported better-than-expected first quarter earnings and its shares rose about 9%.