---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-247434"
form_type: "8-K"
ticker: "BLCO"
cik: "0001860742"
company_name: "Bausch & Lomb Corp"
filed_at: "2023-09-29T23:59:59+00:00"
generated_at: "2026-06-10T07:06:07.201661+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Bausch + Lomb completes $2.5B acquisition of XIIDRA from Novartis, funded by $1.4B notes and $500M term loans

## Summary
- Acquired XIIDRA, libvatrep (Phase 2b), and AcuStream tech from Novartis for up to $2.5B ($1.75B upfront + $750M milestones).
- Funded with $1.4B of 8.375% senior secured notes due 2028 and $500M incremental term B loans.
- XIIDRA adds non-steroid dry eye treatment; combined with MIEBO, targets leading position in growing prescription DED market.
- Libvatrep Phase 2b study results expected H2 2023; AcuStream device aims at precise ophthalmic dosing.
- CEO Brent Saunders expects to 'quickly take a leading position in the growing prescription dry eye category.'

## SEC filing metadata
- accession: 0001193125-23-247434
- form_type: 8-K
- ticker: BLCO
- cik: 0001860742
- company_name: Bausch & Lomb Corp
- filed_at: 2023-09-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 9.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1860742/000119312523247434/0001193125-23-247434-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1860742/000119312523247434/d655401d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-247434
- JSON: https://secwatch.observer/filing/0001193125-23-247434.json
- Plain text: https://secwatch.observer/filing/0001193125-23-247434.txt

## Key facts
- M&A Transactions
  Bausch & Lomb Corp completed an acquisition involving Novartis Pharma AG, Novartis Finance Corporation (closed 2023-09-29).
  - Action: acquisition
  - Counterparty: Novartis Pharma AG, Novartis Finance Corporation
  - Closing: 2023-09-29
  source text: On September 29, 2023, the Company completed the Acquisition pursuant to the terms and conditions of the previously announced Stock and Asset Purchase Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1860742/000119312523247434/0001193125-23-247434-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.