Valeant to focus on integration in 2013 after Bausch & Lomb deal - CEO

Mon May 27, 2013 10:49am EDT
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May 27 (Reuters) - Canadian drugmaker Valeant
Pharmaceuticals International Inc will focus in 2013 on
integrating its new acquisitions, most notably Bausch & Lomb,
Chief Executive Michael Pearson said on Monday.
    Valeant, which will buy the eye care company for $8.7
billion in cash, will also look for small acquisitions that fit
its dermatology and opthalmology businesses, Pearson said in an
interview with Reuters.
    Buying Bausch & Lomb raises Valeant's debt to trailing
EBITDA ratio to 4.6 times, but the acquired company's cash flow
and earnings should bring that ratio under four times by the
second half of 2014, Pearson said.