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Bill Ackman: Valeant is ‘not selling Bausch & Lomb’

Under-fire drug giant Valeant Pharmaceuticals International won't put Bausch & Lomb on the block, investor Bill Ackman told CNBC.

"It's a core asset," Ackman said. "We're only considering selling non-core assets."

On Wednesday, the activist investor and long-time Valeant stakeholder told an investor call that he expected to make back his losses on the drug company, which has had a disastrous six months, including accounting misstatements and concerns over its ties to specialty pharmacy...