Economy

Bausch + Lomb to list in U.S. and Canada, discloses revenue jump

Published

3 years ago

January 13, 2022

Eye-care products maker Bausch + Lomb Corp on Thursday filed to go public in the United States and Canada through an initial public offering and disclosed a jump in sales for the first time.

The company said its revenue rose to $2.76 billion in the nine months ended Sept. 30 last year from $2.47 billion in the same period a year earlier, it said in a filing https://www.sec.gov/Archives/edgar/data/1860742/000119312522008667/d178785ds1.htm#rom178785_11.

It seeks to sell up to $100 million worth of shares, a placeholder amount used to calculate filing fees, and aims to use the amount to further expand its business.

The 169-year-old company that started as a small optical goods shop in New York in 1853 currently supplies branded and generic pharmaceuticals, contact lenses and lens care products to 150 million people in more than 90 countries.

It was first listed on the New York Stock Exchange in 1958, but was taken private in 2007 when it was acquired by Warburg Pincus.

In 2013, Canadian drugmaker and parent company Bausch Health Companies Inc, previously known as Valeant Pharmaceuticals, bought Bausch + Lomb from Warburg Pincus.

The parent company had in August 2020 announced its decision to spinoff its eye health business into a separate publicly traded entity, but said that it would retain a majority stake.

Morgan Stanley and Goldman Sachs are the lead underwriters. The company will list under the symbol ‘BLCO,’ according to a filing https://www.sec.gov/Archives/edgar/data/1860742/000119312522008667/d178785ds1.htm#rom178785_2.

(Reporting by Mehnaz Yasmin and Ananya Mariam Rajesh in Bengaluru; Editing by Arun Koyyur)

Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

Published

17 hours ago

September 13, 2024

Anne Joseph

TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

Statistics Canada reports wholesale sales higher in July

Published

1 day ago

September 13, 2024

Anne Joseph

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

Published

2 days ago

September 12, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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