Bausch Health sells off Amoun for $740M; Achilles de­buts on Nas­daq with $175.5M IPO

Look­ing to pay down debt ahead of the big Bausch + Lomb spin­off, Bausch Health CEO Joseph Pa­pa has struck a deal to sell one of its units in Egypt for $740 mil­lion.

Abu Dhabi-based hold­ing com­pa­ny ADB is hand­ing over the cash for Amoun Phar­ma­ceu­ti­cal, which makes and mar­kets brand­ed gener­ics and an­i­mal health prod­ucts, will be the new own­er.

“The sale of Amoun marks sig­nif­i­cant progress in our ef­forts to re­duce over­all Bausch Health debt as we con­tin­ue to pur­sue all op­por­tu­ni­ties to dri­ve val­ue for our share­hold­ers, in­clud­ing prepar­ing for the spin­off of Bausch + Lomb,” said Joseph Pa­pa, chair­man and CEO, Bausch Health.

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