Valeant Pharmaceuticals (BHC 1.04%) grows through acquisition, mostly through smaller accretive deals. But management had its elephant guns loaded and after missing out on generic drugmaker Actavis bagged its big game via an $8.7 billion buyout of eye-care heavyweight Bausch & Lomb.

In this video, health-care analyst David Williamson discusses why Valeant investors should be excited about adding Bausch & Lomb instead of Actavis and whether more transformative acquisitions are on the way.

Follow David on Twitter: @MotleyDavid.