By Ben Glickman

Bausch + Lomb said Thursday it had acquired the Blink eye drop product line from Johnson & Johnson's Vision segment for $106.5 million, to be paid with cash on hand.

The deal follows another recent acquisition by the Canadian eye-care company to expand its portfolio. The Wall Street Journal reported that Bausch + Lomb is planning to buy Xiidra, a dry-eye drug, from Novartis for $1.75 billion, with potential add-on payments of up to $750 million.

Bausch + Lomb Chief Executive Brett Saunders, known for pursuing mergers and acquisitions, returned to the company in March after previously leading it from 2010 to 2013.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

July 06, 2023 07:38 ET (11:38 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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