Valeant Pharmaceuticals, the Canandian company that owns Bausch + Lomb, will not put that business up for sale.
That's what activist investor and board member Bill Ackman told CNBC this week. He describes B + L a core asset, and he told the network, " We're only considering selling non-core assets."
Bausch + Lomb employs more than 800 people in the Rochester area.
Before Ackman joined Valeant's board recently, he had broached the possibility of selling the B + L eyecare business, saying that it was valuable, and Valeant could possibly sell a piece of it to pay down debt.
According to CNBC Ackman also said progress is being made in the search to replace Valeant CEO Michael Pearson, who was forced to step down after the stock fell sharply in March in the wake of disappointing results as well as mistakes in presenting the numbers.
