Bausch + Lomb climbs up in trading debut after below-range $630-million IPO

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Bausch + Lomb climbs up in trading debut after below-range $630-million IPO
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Shares of the contact lens and eye\u002Dcare company climbed as much as 7.9%

With the spinoff, Joseph Papa has moved from chief executive officer of Bausch Health to CEO and chairman of Bausch + Lomb. Thomas Appio has been appointed to replace him as the top executive at Bausch Health, according to a statement. Papa will remain chairman of Bausch Health.

Bausch + Lomb, which began as an optical goods shop in 1853, was bought by Bausch Health — then known as Valeant Pharmaceuticals International Inc. — for US$8.7 billion in 2013 from an investors group that included Warburg Pincus.Article content

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