Valeant Pharmaceuticals International plans to change its name to Bausch Health Companies, effective July 2018.

The new name is taken from its subsidiary, Bausch + Lomb, an eye-care company, which Valeant acquired in 2013. The company’s entities that have separate established brands will continue to operate under the corporate umbrella using their existing names.

“Now is the right time in our turnaround to unite our company’s core businesses, subsidiaries and brands under the Bausch Health name,” said Joseph C. Papa, chairman and CEO, Valeant, in a May 8, 2018 company statement. “We believe Bausch Health Companies more accurately represents the full scope of the company today—a leader in the development and manufacture of a wide range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology.”

As part of the name change, the company will roll out a new corporate brand identity in July 2018, which will include new imagery and website, and it will trade under a new symbol, BHC. Until that time, the company will continue to trade on the New York Stock Exchange and Toronto Stock Exchange under its present symbol, VRX. Notice of the name change has been submitted to both the New York Stock Exchange and the Toronto Stock Exchange, and the effectiveness of the name change is subject to the satisfaction of customary conditions of such exchanges.

Source: Valeant Pharmaceuticals