Bausch Confirms Infections in Europe
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Bausch & Lomb Inc., under pressure since authorities said its contact lens care products might be linked to a spate of serious eye infections in Asia and the United States, said a handful of cases of the infection had also been confirmed in Europe.
But the company, whose shares fell 6.3% to hit an almost three-year low, denied analysts’ suggestions that a large debt buyback announced Wednesday could leave it strapped for cash.
Harris Nesbitt analyst Joanne Wuensch said the European cases raised new questions about the already beleaguered company. “They just can’t get ahead of it,” Wuensch said.
Shares of Rochester, N.Y.-based Bausch fell $2.78 to $41.19.
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