Bausch owner sees end of disposals

Valeant Pharmaceuticals chief executive Joe Papa says the drugmaker, which also owns Waterford’s Bausch + Lomb, has slimmed down enough for now and will focus on generating cash from its remaining businesses as it pays down a mountain of debt.

“We’ve accomplished what we felt needed to be accomplished, certainly in the near term,” said Mr Papa. “Our focus is going to be on the execution of the business.”

Since taking over in May last year, Mr Papa has sold or agreed to sell a cancer product, a skincare unit, and a number of other assets to help beat its goal of paying off $5bn (€4.23bn) of debt.