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Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global leader in the pharmaceutical, medical device, and over-the-counter product industries, primarily focusing on the therapeutic areas of eye health, gastroenterology, and dermatology. The company is dedicated to advancing global health through innovation and efficient healthcare solutions.
With approximately 22,000 employees worldwide, Bausch Health operates in around 100 countries. The company's core business is organized into five segments: Salix Pharmaceuticals, International, Solta Medical, Diversified Products, and Bausch + Lomb, with the Bausch + Lomb segment generating the highest revenue. Bausch Health consistently delivers on its commitments to quality health care outcomes and customer focus.
Recent achievements include significant progress in the development of Amiselimod, a promising new treatment for ulcerative colitis, and the expansion of public drug plan listings for UCERIS® (budesonide) aerosol foam in multiple Canadian provinces. Additionally, Bausch Health has launched an awareness campaign for XIFAXAN®, an FDA-approved medication for reducing the risk of overt hepatic encephalopathy recurrence.
Financially, Bausch Health reported strong performance in the first quarter of 2024, with revenues of $2.15 billion, marking a 11% increase compared to the prior year. The company continues to strengthen its balance sheet while advancing its R&D pipeline and executing commercial strategies for global growth.
Bausch Health remains focused on protecting its intellectual property, as evidenced by recent litigation efforts to defend the XIFAXAN® franchise. The company is also committed to fostering partnerships and collaborations to enhance its product offerings and reach.
For more information, visit www.bauschhealth.com.
Bausch Health and Novaliq announced statistically significant topline results from the MOJAVE Phase 3 trial of NOV03, a novel eye drop treatment for dry eye disease associated with Meibomian gland dysfunction. The trial met primary endpoints, showing significant improvements in total corneal staining and dryness scores at day 57, p < 0.001. These findings reaffirm the safety and efficacy observed in earlier trials. A New Drug Application to the FDA is anticipated in 2022, potentially marking a significant advancement in treating millions suffering from dry eye disease.
Bausch Health Companies released its annual Environmental, Social and Governance (ESG) Report on Sept. 29, 2021, emphasizing a commitment to sustainability and stakeholder engagement. The report outlines progress in five key areas: Operate with Integrity, Respect the Environment, Advance Global Health, Improve Communities, and Support Employee Growth. Highlights include enhancing Diversity, Equity & Inclusion initiatives, expanding recycling efforts, and product donations during COVID-19. The full report is available on Bausch Health's website.
Bausch Health announced that new Health Economic Outcomes Research (HEOR) data on RELISTOR will be shared at PAINWeek 2021 in Las Vegas from Sept. 7-11, 2021. The research highlights the use of RELISTOR in treating opioid-induced constipation (OIC) in emergency department patients. Three abstracts will be presented, showcasing broad utilization across care settings. RELISTOR, an opioid antagonist, is indicated for OIC in adults, including those with chronic non-cancer pain and advanced illness.
Bausch Health Companies (NYSE/TSX: BHC) announced participation in several upcoming investor conferences. Executives, including Sam Eldessouky and Joseph C. Papa, will represent the company at the J.P. Morgan European High Yield & Leveraged Finance Conference on Sept. 9, 2021, and the Deutsche Bank 29th Annual Leveraged Finance Conference on Oct. 4, 2021. The Morgan Stanley Global Healthcare Conference is scheduled for Sept. 13, 2021. Live webcasts will be accessible on the company's Investor Relations page.
Bausch Health Companies Inc. (NYSE/TSX: BHC) reported second-quarter 2021 revenues of $2.100 billion, a 26% increase year-over-year. However, the company faced a GAAP net loss of $595 million, worsening from $326 million in Q2 2020. Adjusted EBITDA reached $826 million, up 33%. The company announced plans for an IPO of Solta Medical and appointed Thomas J. Appio as CEO of Bausch Pharma. Guidance for 2021 revenue was revised to $8.40 - $8.60 billion, reflecting divestitures and quality issues.
Bausch Health is pursuing an initial public offering (IPO) of its Solta Medical business, aiming to pay down debt and unlock value from this high-growth medical aesthetics segment. Solta, which reported 2020 revenues of $253 million and a 32% CAGR from 2017 to 2020, provides advanced skin rejuvenation technologies. The IPO is anticipated in Q4 2021 or H1 2022, depending on market conditions. Scott A. Hirsch has been appointed CEO of Solta as Bausch Health prepares for this strategic move.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced plans to reduce its debt by $350 million through the redemption of senior notes due Sept. 2, 2021. This redemption will utilize cash on hand and funds generated from operations. The company has redeemed a total of $1 billion in debt in 2021, enhancing its financial position. An irrevocable notice of redemption will be issued, with payments processed via the Depository Trust Company.
Bausch Health Companies Inc. (NYSE/TSX: BHC) has finalized the sale of its equity interests in Amoun Pharmaceutical Company to Abu Dhabi-based ADQ, yielding approximately $740 million, subject to adjustments. This strategic move is set to allow Bausch Health to reduce its overall debt. CEO Joseph C. Papa emphasized the company's commitment to enhancing shareholder value and preparing for the planned spinoff of Bausch + Lomb. The transaction follows a definitive agreement made earlier in March 2021.
Bausch Health Companies (NYSE/TSX: BHC) announced the recipients of its 2021 Aspire Higher scholarship program, awarding scholarships of up to $10,000 to nine students affected by dermatologic conditions. This initiative aims to support these students in achieving their academic goals. Since its inception in 2012, the program has awarded $648,000 in total. The chosen recipients were selected from nearly 150 applications based on their personal essays. The program recognizes a diverse range of educational pursuits across various scholarship categories.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced the winners of its 2021 Salix Gastrointestinal Health Scholars Program, awarding $100,000 in scholarships to ten students with gastrointestinal (GI) diseases. Each recipient will receive $10,000 to support their higher education goals. The competitive selection process considered over 150 applications, highlighting the personal challenges faced by students due to their GI conditions. Salix Pharmaceuticals aims to assist these students in overcoming educational hurdles, reflecting the company’s commitment to improving the lives of those living with GI diseases.
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