Brent Saunders

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Brent Saunders
BornFebruary 6, 1970[ citation needed ]
Alma materBachelor's, University of Pittsburgh [1]
MBA, Temple University [1]
JD, Temple University [1]
Occupation(s)Chairman and CEO of Bausch + Lomb
Founder of Vesper Healthcare Acquisition [2]
Chairman of The Beauty Health Company [3]
Chairman of Hugel America [4]
Known forBiopharma executive, entrepreneur [5]

Brent Saunders (1969or1970) is an American biopharma executive and entrepreneur who is the chairman and CEO of the health company Bausch & Lomb. He helped lead various mergers and acquisitions, including the mergers between Merck and Schering-Plough, the acquisition of Bausch + Lomb by Valeant Pharmaceuticals, and the $63 billion acquisition of Allergan by Abbvie. [6] [7] He is the founder of special-purpose acquisition company (SPAC) Vesper Healthcare Acquisition. [2] Saunders is also executive chairman of medical aesthetics companies The Beauty Health Company and Hugel America. [3] [4]

Contents

Early life and education

Saunders was born in 1969or1970 to Charles and Sheila Saunders, a urologist and social worker. [1] [6] He grew up in the Lehigh Valley region of eastern Pennsylvania, with a twin brother Wayne and sister Reed, [1] and graduated from Parkland High School in South Whitehall Township, Pennsylvania in 1988. [1]

He attended the University of Pittsburgh, where he was president of the student government board, [1] and graduated in 1992 with a bachelor's degree in economics and East Asian studies. [1] In 1996, he received MBA and J.D. degrees from Temple University in Philadelphia. [1]

Career

In 1996, while attending law school, Saunders started working part time at Jefferson Health as a compliance officer. [1]

In 2000, Saunders joined PricewaterhouseCoopers as a healthcare compliance manager, and became partner and head of the firm's compliance business advisory services group. [1] In October 2003, Saunders was hired as senior vice president of global compliance and business practices at Schering-Plough, a pharmaceutical company. [1] In mid-2007, he became president of consumer health care at Schering-Plough, with responsibility for a business unit of products including Coppertone, Dr. Scholl's, and Claritin. [1] In 2009, Saunders led the integration team of Schering-Plough's merger with Merck. [7]

In 2010, Saunders was appointed chief executive officer Bausch & Lomb, an eye health company. [8] In 2010 he was appointed to the Federal Reserve advisory board. [9] In 2013, as CEO of Bausch + Lomb, he oversaw its acquisition by Valeant Pharmaceuticals, now known as Bausch Health, for $8.7 billion. [7] He joined Valeant in an advisory role to assist with the transition. [10] In October, Saunders joined pharmaceutical company Forest Laboratories as CEO. [11]

In May 2014, Saunders was named chief executive officer of Actavis, a pharmaceutical company, after the company acquired Forest Laboratories. [12] In November, Saunders negotiated Actavis' merger with Allergan, a pharmaceutical company, for a reported $70.5 billion. [1] The new combined company took the Allergan name. [13]

In February 2015, Saunders appeared on the cover of Forbes magazine, where he was named as "Wall Street's Drug Dealer". [6] In May 2019, Saunders survived a proposal brought by hedge fund Appaloosa Management to split Allergan's chairman and CEO roles. [14] In June, pharmaceutical company Abbvie acquired Allergan for $63 billion. [15]

In June 2020, Saunders joined the board of BridgeBio Pharma, a company founded with an IPO in 2019. [16] In September, Saunders’ special-purpose acquisition company Vesper Healthcare Acquisition publicly launched, and raised $400 million. [2] Filings indicated that Saunders owned 20% of the company after the SPAC sale. [2] In December, Saunders made his first deal with Vesper, acquiring HydraFacial, a beauty treatment company, for $1.1 billion. [7]

In May 2021, Vesper's HydraFacial deal closed, and the new company was renamed The Beauty Health Company, with Saunders taking the role of executive chairman. [3] He also served as interim CEO until February 2022. [17]

In June 2022, Saunders was named to the board of medical aesthetics company Hugel America, an affiliate of South Korea-based Hugel Inc. [4]

In March 2023, Saunders returned to Bausch + Lomb as CEO and chairman. [18] In June, Saunders signed his first deal as CEO, purchasing dry eye drug Xiidra from Novartis for $1.75 billion. [19]

Related Research Articles

<span class="mw-page-title-main">Bausch & Lomb</span> American-Canadian eye health company

Bausch & Lomb is an American-Canadian eye health products company based in Vaughan, Ontario, Canada. It is one of the world's largest suppliers of contact lenses, lens care products, pharmaceuticals, intraocular lenses, and other eye surgery products. The company was founded in Rochester, New York, in 1853 by optician John Bausch and cabinet maker turned financial backer Henry Lomb. Until its sale in 2013, Bausch + Lomb was one of the oldest continually operating companies in the United States.

FUJIFILM Diosynth Biotechnologies, abbreviated FDB and also referred to simply as Diosynth, is a biopharmaceutical contract manufacturing organization that develops manufacturing processes and manufactures active ingredients and provides fill and finish services for pharmaceutical companies. FUJIFILM Diosynth Biotechnologies is the world's second largest contract manufacturer of biopharmaceuticals, with manufacturing facilities in Morrisville, North Carolina and College Station, Texas in the United States, Teesside, United Kingdom and Hillerød, Denmark in Europe, and recently added sites in Thousand Oaks, California and Watertown, Massachusetts. FUJIFILM Diosynth Biotechnologies operates a highly automated multipurpose manufacturing facility in College Station, Texas under the federal government's Center for Innovation in Advanced Development and Manufacturing (CIADM) program, which is the largest scale-out cell culture manufacturing facility in the United States.

Bausch Health Companies Inc. is an American-Canadian multinational specialty pharmaceutical company based in Laval, Quebec, Canada. It develops, manufactures and markets pharmaceutical products and branded generic drugs, primarily for skin diseases, gastrointestinal disorders, eye health and neurology. Bausch Health owns Bausch & Lomb, a supplier of eye health products. Bausch Health's business model is primarily focused on acquiring small pharmaceutical companies and then sharply increasing the prices of the drugs these companies sell.

<span class="mw-page-title-main">Perrigo</span> Irish tax-registered pharmaceutical

Perrigo Company plc is an American Irish-registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales. In 2013, Perrigo completed the sixth-largest US corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes. Perrigo maintains its corporate headquarters in Grand Rapids, Michigan, within Michigan State University's Grand Rapids Innovation Park.

Forest Laboratories was a company in the pharmaceutical industry incorporated in Delaware, with its principal office in New York City. It was known for licensing European pharmaceuticals for sale in the United States. On July 1, 2014, the company was acquired by Actavis.

<span class="mw-page-title-main">Allergan, Inc.</span> Former American conglomerate

Allergan, Inc. was an American global pharmaceutical company focused on eye care, neurosciences, medical dermatology, medical aesthetics, breast enhancement, obesity intervention and urologics. Allergan, Inc. was formed in 1948, incorporated in 1950 and became a public company in 1970. It ceased operation in 2015 when it was acquired by Irish-based Actavis plc, who then renamed the group as Allergan plc.

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<span class="mw-page-title-main">Actavis</span> Global pharmaceutical company

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Fred Hassan, is a Pakistan-born American business executive who works for Warburg Pincus and was CEO of three global pharmaceutical companies.

<span class="mw-page-title-main">Medicis Pharmaceutical</span> Medical cosmetics company

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Bepotastine is a 2nd generation antihistamine. It was approved in Japan for use in the treatment of allergic rhinitis and urticaria/pruritus in July 2000, and January 2002, respectively. It is marketed in the United States as an eye drop under the brand name Bepreve, by ISTA Pharmaceuticals, a subsidiary of Bausch + Lomb.

<span class="mw-page-title-main">J. Michael Pearson</span>

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David Edmund Ian Pyott CBE was the CEO of Allergan, a pharmaceutical company from 1998 to 2015, when Allergan was acquired by Actavis. In 2014 he was one of the 25 highest-paid CEOs in the United States.

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References

  1. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 "Brent Saunders, Parkland grad, is the Lehigh Valley's $150 billion dealmaker". The Morning Call. October 19, 2015. Retrieved July 11, 2022.
  2. 1 2 3 4 "Brent Saunders rides $400M wave to the top of the SPAC boom". Endpoints News. September 30, 2020. Retrieved July 11, 2022.
  3. 1 2 3 "HydraFacial merges with Vesper Healthcare to form new, publicly traded company based in Long Beach". Long Beach Business Journal. May 7, 2021. Retrieved July 11, 2022.
  4. 1 2 3 "Ex-Allergan CEO Joins Parent of Botox Rival". Orange County Business Journal. June 21, 2022. Retrieved July 11, 2022.
  5. ↑ "Allergan: Pharma's Biggest Dealmaker Is On The Hunt Again". Forbes. July 27, 2015. Retrieved July 11, 2022.
  6. 1 2 3 "This Giant Drug Firm Won't Invent Medicines. Investors Are Cheering". Forbes. March 21, 2011. Retrieved July 11, 2022.
  7. 1 2 3 4 "Back to beauty: Former Allergan chief Saunders scoops up aesthetics company in $1.1B deal". Fierce Pharma. December 9, 2020. Retrieved July 11, 2022.
  8. ↑ "Brent Saunders, Bausch & Lomb CEO: The Eyes Have It". Chief Executive. March 21, 2011. Retrieved July 11, 2022.
  9. ↑ "Bausch & Lomb Brent Saunders Named to New York's Federal Reserve Regional Advisory Board".
  10. ↑ "Drugmaker Valeant to buy Bausch & Lomb for $8.7 billion". Reuters. March 21, 2011. Retrieved July 11, 2022.
  11. ↑ "Forest Labs names ex-Bausch & Lomb head Brent Saunders as CEO". Reuters. September 10, 2013. Retrieved July 11, 2022.
  12. ↑ "Forest Labs' Saunders to Head Actavis When Deal Closes". Wall Street Journal. May 14, 2014. Retrieved July 11, 2022.
  13. ↑ "Allergan CEO Saunders puts on chairman's cap as Actavis architect Bisaro exits". Fierce Pharma. October 27, 2016. Retrieved July 11, 2022.
  14. ↑ "Allergan CEO Saunders gets to keep chairmanship after failed investor campaign". Fierce Pharma. May 1, 2019. Retrieved July 11, 2022.
  15. ↑ "AbbVie, nearing the end of Humira's historic run, scoops up a struggling Allergan for $63B". Fierce Pharma. June 25, 2019. Retrieved July 11, 2022.
  16. ↑ "Saunders finds life after Allergan on board at newly IPO'ed BridgeBio". Fierce Pharma. June 24, 2020. Retrieved July 11, 2022.
  17. ↑ "Beauty Health Names Andrew Stanleick CEO". Los Angeles Business Journal. January 21, 2022. Retrieved July 11, 2022.
  18. ↑ "Brent Saunders to return as Bausch + Lomb CEO". February 15, 2023 – via www.reuters.com.
  19. ↑ Hopkins, Jared S. (June 30, 2023). "Bausch + Lomb's CEO Inks First Big Deal Since Return". Wall Street Journal– via www.wsj.com.
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