Bausch + Lomb was valued at $6.48 billion in the company’s U.S. market debut on May 6 as the eye-care company’s shares opened nearly 3 percent above an offer price that was well below the targeted range.

Alcon is officially a standalone company. The eye care specialist officially spun out from Swiss pharma giant Novartis. Alcon began trading on the SIX Swiss Exchange and New York Stock Exchange under the symbol “ALC.”

Novartis will officially spin its Alcon eye-care business off into a separately traded standalone business unit on April 9, 2019.

Novartis’ 2019 sales and profit guidance disappointed investors seeking more growth from the Swiss drugmaker.

Switzerland-based Novartis announced plans to spin off Alcon, its eye care division, into a separately traded standalone company.