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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