MADISON, NJ-Valeant Pharmaceuticals International Inc., which is acquiring Bausch & Lomb, reports it will be relocating the contact lens maker's headquarters from Rochester, NY to central New Jersey.
The relocation of the Bausch & Lomb headquarters was announced on Monday while Laval, Quebec-based Valeant said it would reduce its workforce by 10% to 15% once it completes the merger. Valeant announced it was acquiring Bausch & Lomb in May for $8.7 billion. The downsizing program will result in the elimination of between 1,850 and 2,775 positions. Valeant says it expects to obtain regulatory approvals for the acquisition by August of this year.
It is unclear at what property in the Garden State the Bausch & Lomb headquarters will be located. Valeant spokesman Laurite Little says the new headquarters would likely be near Bridgewater, where Valeant has its US headquarters, or in Madison, where Bausch & Lomb's pharmaceutical division is based, according to The Record.
A Reuters News report states that Valeant's Little also says that its Medicis Pharmaceuticals operations will be relocated from Scottsdale, AZ to New Jersey as well. See story in The Record.
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