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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 Companies (NYSE/TSX: BHC) announced the resignation of D. Robert Hale from its Board of Directors, effective June 21, 2021. Hale, a director since 2015, cited increased professional obligations, including joining the board of another company in Japan. CEO Joseph C. Papa expressed gratitude for Hale's contributions, emphasizing the company's commitment to executing the spinoff of Bausch + Lomb. The company aims to establish two strong boards with diverse representation to better serve stakeholders.
Bausch + Lomb, part of Bausch Health Companies (NYSE/TSX: BHC), announced an agreement with Lochan LLC to develop next-generation eyeTELLIGENCE™ software, aimed at enhancing efficiency in ophthalmic surgeries. Expected to launch in 2022, the software will integrate various surgical processes, reducing manual data transfers that lead to errors. This initiative follows Bausch + Lomb's 2018 introduction of eyeTELLIGENCE, designed to improve practice efficiency through cloud technology.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced the results of its cash tender offer for its outstanding 7.00% Senior Secured Notes due 2024, valid until June 21, 2021. As of June 7, 2021, $545,079,000 in Notes have been tendered. The offer includes a total consideration of $1,019.25 per $1,000 principal, which includes a $30 early tender premium. The early settlement date is set for June 8, 2021. The offer is contingent upon the completion of a $1.6 billion private offering of senior secured notes. After the tender offer, remaining Notes will be redeemed according to the terms of the indenture.
Bausch Health and Clearside Biomedical announced that the FDA has accepted the resubmitted New Drug Application for XIPERE (triamcinolone acetonide suprachoroidal injectable suspension). The PDUFA action date is set for October 30, 2021. XIPERE targets macular edema associated with uveitis, a leading cause of vision loss. If approved, it would be the first therapy utilizing the suprachoroidal space for treatment. Clearside's SCS Microinjector aims to improve drug delivery, potentially minimizing adverse effects compared to traditional methods.
Bausch + Lomb and Prevent Blindness have initiated a collaboration for Cataract Awareness Month in June to educate the public about cataracts, a common cause of vision loss. They aim to alleviate anxiety surrounding cataract surgery, which has a 99% success rate. Bausch + Lomb will donate $1 for every social media 'like' or 'share' of certain posts, up to $50,000, to support Prevent Blindness's initiatives for increasing access to cataract care as cases are predicted to rise significantly.
Bausch Health Companies Inc. (NYSE/TSX: BHC) will reduce its debt by $100 million through the redemption of outstanding senior notes, using cash generated from operations. The redemption, set for June 30, 2021, will involve 6.125% Senior Notes due 2025, totaling $500 million redeemed this year. The company aims to improve its financial stability and decrease interest expenses. Forward-looking statements in the release caution investors about risks, including potential impacts from the ongoing COVID-19 pandemic.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced participation in the Jefferies Healthcare Conference on June 2, 2021, at 11:00 a.m. ET. CEO Joseph C. Papa, senior VP Sam Eldessouky, and senior VP Arthur J. Shannon will represent the company. A live webcast and audio archive will be available on Bausch Health’s Investor Relations page. The company focuses on improving lives through its healthcare products across eye health, gastroenterology, and dermatology sectors.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced the pricing of its $1.6 billion offering of 4.875% senior secured notes due 2028. The proceeds will fund a Tender Offer to purchase outstanding 7.00% Senior Secured Notes due 2024 and related expenses. The notes are secured by company assets and guaranteed by its subsidiaries. The offering is subject to closing conditions and won't be registered under the Securities Act. This release highlights the company's strategy to manage debt and enhance liquidity.
Bausch Health Companies Inc. (BHC) announced a cash tender offer to purchase any outstanding 7.00% Senior Secured Notes due 2024. The total principal amount outstanding is $1.6 billion. The tender offer consideration is set at $989.25 per $1,000 principal amount, with an early tender premium of $30. The offer will expire on June 21, 2021, and holders must submit their tenders before the withdrawal deadline on June 7, 2021. If any notes remain outstanding post-offer, Bausch plans to redeem them on June 23, 2021. The offer is subject to the completion of a concurrent private offering of $1.6 billion in senior secured notes.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced a $1.6 billion offering of new senior secured notes due 2028. The funds will be used to repurchase existing 7.00% senior secured notes due 2024 and cover related expenses. The notes will be guaranteed by the company’s subsidiaries and secured by assets. The offering targets qualified institutional buyers in the U.S. and non-U.S. persons under Regulation S. Additionally, the company plans to issue a conditional notice of redemption for the remaining 2024 Notes following the tender offer. The completion of the transactions is anticipated in Q2 2021, subject to market conditions.
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