(13wWHAM) Rochester, N.Y. - Bausch and Lomb could be sold to a new owner in one of the biggest health care deals of the year.

The Wall Street Journal reported Friday that Canadian-based Valeant Pharmaceuticals is working on a $9 billion deal to buy the company.

The deal could mean a big gain for Bausch & Lomb's current owner, Warburg Pincus, which paid $4.5 billion for the company in 2007.

The paper reported it's not a done deal yet, but it could be by next week.