Bausch + Lomb acquisition of Xiidra a positive, says Barclays

Barclays views Bausch + Lomb’s (BLCO) proposed acquisition of Novartis’ (NVS) Xiidra as a positive, saying it will strengthen the company’s push into the dry eye market and drive accretion for the overall business. The analyst says the pending acquisition and the recent approval of Miebo are “potentially compelling growth drivers.” With that said, the firm still sees the pending spin and share divestiture by parent company Bausch Health (BHC) as a potential risk to Bausch + Lomb shares. It keeps an Equal Weight rating on Bausch + Lomb with an $18 price target.