Brent Saunders

Brent Saunders (1969 or 1970) is an American biopharma executive and entrepreneur. He is CEO and chairman of eye health company Bausch + Lomb. He is also known for his merger and acquisition activity, having helped oversee the merger between pharmaceutical companies 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]

Brent Saunders
BornFebruary 6, 1970
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]

Early life and education

Saunders was born in 1969 or 1970 to Charles and Sheila Sounders, an urologist and social worker.[1][6] He grew up in the South Whitehall area of Pennsylvania, with a twin brother Wayne and sister Reed.[1] He graduated from Parkland High School in 1988.[1] He attended the University of Pittsburgh and served as president of the Student Government Board.[1] He graduated in 1992 with a bachelor's degree in economics and East Asian studies.[1] In 1996, he received an M.B.A. degree and a J.D. degree from Temple University.[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 pharmaceutical company Schering-Plough.[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, while still president of consumer health care, Saunders was selected to lead the integration team of Schering-Plough's merger with Merck.[7]

In 2010, Saunders was appointed CEO of eye care company Bausch + Lomb.[8]

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.[9] In October, Saunders joined pharmaceutical company Forest Laboratories as CEO.[10]

In May 2014, Saunders was named CEO of pharmaceutical company Actavis, after that company acquired Forest Laboratories.[11] In November, Saunders negotiated Actavis' merger with fellow pharmaceutical company Allergan, which closed at $70.5 billion.[1] The new combined company took the Allergan name.[12]

In February 2015, Saunders appeared on the cover of Forbes, 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.[13] In June, pharmaceutical company Abbvie bought Allergan for $63 billion.[14]

In June 2020, Saunders joined the board of BridgeBio Pharma, a company that had an IPO in 2019.[15] In September, Saunders’ special-purpose acquisition company Vesper Healthcare Acquisition publicly launched, raising $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 when he acquired 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.[16] In June 2022, Saunders was named to the board of medical aesthetics company Hugel America, an arm of South Korea-based Hugel Inc.[4]

In March 2023, Saunders returned to Bausch + Lomb as CEO and chairman.[17] In June, Saunders signed his first deal as CEO, agreeing to purchase dry eye drug Xiidra from Novartis for $1.75B.[18]

References

  1. "Brent Saunders, Parkland grad, is the Lehigh Valley's $150 billion dealmaker". The Morning Call. October 19, 2015. Retrieved July 11, 2022.
  2. "Brent Saunders rides $400M wave to the top of the SPAC boom". Endpoints News. September 30, 2020. Retrieved July 11, 2022.
  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. "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. "This Giant Drug Firm Won't Invent Medicines. Investors Are Cheering". Forbes. March 21, 2011. Retrieved July 11, 2022.
  7. "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. "Drugmaker Valeant to buy Bausch & Lomb for $8.7 billion". Reuters. March 21, 2011. Retrieved July 11, 2022.
  10. "Forest Labs names ex-Bausch & Lomb head Brent Saunders as CEO". Reuters. September 10, 2013. Retrieved July 11, 2022.
  11. "Forest Labs' Saunders to Head Actavis When Deal Closes". Wall Street Journal. May 14, 2014. Retrieved July 11, 2022.
  12. "Allergan CEO Saunders puts on chairman's cap as Actavis architect Bisaro exits". Fierce Pharma. October 27, 2016. Retrieved July 11, 2022.
  13. "Allergan CEO Saunders gets to keep chairmanship after failed investor campaign". Fierce Pharma. May 1, 2019. Retrieved July 11, 2022.
  14. "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.
  15. "Saunders finds life after Allergan on board at newly IPO'ed BridgeBio". Fierce Pharma. June 24, 2020. Retrieved July 11, 2022.
  16. "Beauty Health Names Andrew Stanleick CEO". Los Angeles Business Journal. January 21, 2022. Retrieved July 11, 2022.
  17. "Brent Saunders to return as Bausch + Lomb CEO". February 15, 2023 via www.reuters.com.
  18. Hopkins, Jared S. (June 30, 2023). "Bausch + Lomb's CEO Inks First Big Deal Since Return" via www.wsj.com.
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