`
`Bausch & Lomb to Buy ISTA Pharmaceuticals for $500 Million The New York Times
`
`Bausch & Lomb to Buy ISTA
`Pharmaceuticals for $500 Million
`
`By Peter Lattman March 26, 2012 6:33 pm
`
`Bausch & Lomb, the eye care company, agreed on Monday to acquire the
`eye drug maker ISTA Pharmaceuticals for about $500 million.
`
`Under the terms of the deal, Bausch & Lomb, which is owned by the
`private equity firm Warburg Pincus, will pay $9.10 a share for ISTA, 10 percent
`above its closing price on Monday.
`
`ISTA, which is based in Irvine, Calif., manufactures several eye drugs
`including Bromday, a medicine that treats inflammation after cataract surgery,
`and Bepreve, a drug that treats itching associated with conjunctivitis. The
`company generated about $160 million in revenue in 2011.
`
`The deal appears to make sense for Bausch & Lomb, because the
`Rochesterbased company already manufactures nearly all of ISTA’s current
`United States products.
`
`“ISTA is an excellent strategic fit with Bausch & Lomb’s rapidly growing
`pharmaceutical business, and this combination represents an important step
`in Bausch & Lomb’s commitment to becoming the best global eye health
`company,” said Brent Saunders, the chief executive of Bausch & Lomb, in a
`statement.
`
`http://dealbook.nytimes.com/2012/03/26/bauschlombtobuyistapharmaceuticalsfor500million/?_r=0
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`SENJU EXHIBIT 2208
`LUPIN v SENJU
`IPR2015-01105
`
`PAGE 1 OF 2
`
`
`
`10/27/2015
`
`Bausch & Lomb to Buy ISTA Pharmaceuticals for $500 Million The New York Times
`
`Bausch & Lomb’s deal tops a hostile bid for ISTA by Valeant
`Pharmaceuticals late last year. Valeant, a Canadian durg maker, pulled its
`$360 takeover bid for ISTA in February after it failed to reach a deal with the
`company.
`
`Goldman Sachs and the law firm Cleary Gottlieb Steen & Hamilton advise
`Bausch & Lomb on the transaction. ISTA was represented by the investment
`bank Greenhill & Company and the law firms Stradling Yocca Carlson & Rauth
`and WilmerHale.
`
`Warburg Pincus acquired Bausch & Lomb in a $3.67 billion takeover in
`September 2007.
`
`© 2015 The New York Times Company
`
`http://dealbook.nytimes.com/2012/03/26/bauschlombtobuyistapharmaceuticalsfor500million/?_r=0
`
`2/2
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`PAGE 2 OF 2
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