AFTER SENATOR’S 2013 INTERVENTION WITH BAUSCH HEALTH – FORMERLY VALEANT PHARMACEUTICALS – KEPT JOBS & LENS PRODUCTION IN ROCHESTER, AGAIN SCHUMER ADVOCATES FOR REGION; FOLLOWING RECENT NEWS OF BAUSCH SPLITTING INTO TWO COMPANIES, SCHUMER, IN PHONE CALL TO CEO JOSEPH PAPA, SECURES CONFIRMATION BAUSCH HEALTH WILL MAINTAIN ROCHESTER PLANT, POSSIBLY EVEN ADD JOBS
Schumer Also Urged that New B+L Spinoff Headquarters Be Moved Back to Rochester; Last Week, Bausch Health Announced Spin Off Of Its Faster-Growing Eyecare Business From Its Core Pharmaceutical Business; Company Hopes Split Will Give Eyecare Business Room For Growth
Schumer, Following Call To Bausch Health CEO, Says He Has Received Assurance That New Spinoff Will Benefit Rochester Plant & Could Bring More Jobs to Rochester
Schumer: B+L’s Flagship Eyecare Manufacturing and R&D Campus in Rochester Is Vital to New Spinoff Company and Should Be Home to New Headquarters
Following years of support for Bausch Health, formerly known as Valeant Pharmaceuticals, and after personally intervening in 2013 to save roughly 1,000 Rochester-Area jobs, U.S. Senator Charles E. Schumer called Bausch Health CEO Joseph Papa over the weekend to secure assurances that the announcement of a spin-off of Bausch & Lomb Eyecare into a separate company would not mean job cuts to the Rochester-based Bausch & Lomb Eyecare manufacturing plant in the midst of the COVID-19 pandemic. On the call, the senator was able to confirm that not only were the chances of cuts to the 1,100-strong workforce minimal, but that it is a strong possibility that the plant will need to add jobs as the it now launches its new contact lens line. Secondly, Schumer urged Papa to move the headquarters of the new Bausch + Lomb eyecare spinoff company back to Rochester, New York.
“You don’t need these new contact lenses to see what is plain as day: Rochester’s Bausch + Lomb plant has been extremely profitable, both for the company and the entire regional economy,” said Senator Schumer. “Through the amazing collaboration between the world-class workforce here in the Finger-Lakes and the innovation of the company’s eyecare branch, millions of people across the country, and even around the world, have been able to enjoy Bausch + Lomb’s high quality contact lenses.”
Schumer added, “I spoke directly with Bausch Health CEO Joseph Papa, and we both agreed that with such a great history, it is only natural that even through company changes, Bausch Health maintains the Rochester plant and the jobs that have made Bausch & Lomb such a success. I also urged Bausch Health to move the headquarters of the new spin-off company back to Rochester, NY. Preserving jobs, especially in the aftermath of the COVID-19 crisis is a top priority of mine, and I will keep a close eye on the spin-off process and continue to support Bausch Health and their Rochester plant so the Finger-Lakes region can serve as the contacts innovation center of the country for a long time to come.”
Schumer’s pitch to Papa of possibly re-locating the new Bausch + Lomb Eyecare spinoff company’s headquarters is part of his long-standing effort to bring the company back to Rochester. Although the original Bausch + Lomb company was headquartered in Rochester beginning in 1853, after the merger with Valeant Pharmaceuticals, the company’s headquarters moved to New Jersey with the rest of Valeant. The senator explained that the spin-off would be a great opportunity for Bausch & Lomb to return home to Rochester.
Bausch Health is planning to split into two companies, separating its faster-growing eyecare business from its core pharmaceutical business. The new spin-off eyecare business is hoping to be established in 12-18 months and will be publically-traded, allowing for the business, famous for its innovative, comfortable contact lenses and solution, to grow at a rapid pace.
Schumer has a long history of support for Bausch Health, formerly known as Valeant Pharmaceuticals, specifically its Rochester-based eyecare manufacturing plant. The senator was able to secure roughly 1,000 jobs, as previously mentioned, in the 2013 acquisition of Bausch + Lomb by Valeant, by convincing the company to bring production of their “ULTRA” contact lenses to Rochester rather than Ireland as planned. Since then, the company has added over 200 additional good-paying jobs to the plant and contributed greatly to the development of the Finger-Lakes economy.
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