Exhibit 5.1

Osler, Hoskin & Harcourt s.e.n.c.r.l./s.r.l. 1000, rue De La Gauchetière Ouest bureau 2100 Montréal (Québec) Canada  H3B 4W5 514.904.8100  téléphone 514.904.8101  télécopieur

Montréal

Toronto

Calgary

Ottawa

Vancouver

New York

Bausch + Lomb Corporation

520 Applewood Crescent
Vaughan, Ontario
L4K 4B4

Dear Sirs/Mesdames:

Re: Bausch + Lomb Corporation – Registration Statement on Form S-8

We have acted as Canadian counsel to Bausch + Lomb Corporation (the “Corporation”), a corporation governed by the Canada Business Corporations Act, in connection with the registration of up to 28,000,000 common shares of the Corporation (“Common Shares”) that are authorized for issuance under the Corporation’s 2022 Omnibus Incentive Plan (the “Omnibus Plan”) pursuant to a Registration Statement on Form S-8 (the “Registration Statement”) filed on May 5, 2022 with the Securities and Exchange Commission under the Securities Act of 1933, as amended, relating to the registration of the Common Shares.

We have examined the Registration Statement, the Omnibus Plan and all such corporate and public records, statutes and regulations and have made such investigations and have reviewed such other documents as we have deemed relevant and necessary and have considered such questions of law as we have considered relevant and necessary in order to give the opinion hereinafter set forth. As to various questions of fact material to such opinions which were not independently established, we have relied upon a certificate of an officer of the Corporation.

In reviewing the foregoing documents and in giving this opinion, we have assumed the legal capacity of all individuals, the genuineness of all signatures, the veracity of the information contained therein, the authenticity of all documents submitted to us as originals and the conformity to authentic or original documents of all documents submitted to us as certified, conformed, electronic, photostatic or facsimile copies.

We are qualified to practice law in the Province of Ontario and this opinion is rendered solely with respect to the Province of Ontario and the federal laws of Canada applicable in the Province of Ontario.

On the basis of the foregoing, we are of the opinion that, when the Common Shares shall have been issued and sold pursuant to the terms of the Plan and the Registration Statement, the Common Shares will be validly issued, fully paid and non-assessable.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement.

Yours very truly,

 
(signed) Osler, Hoskin & Harcourt LLP

Osler, Hoskin & Harcourt LLP