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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 Inc. (NYSE/TSX: BHC) announced a plan to reduce its debt by $100 million through the redemption of senior secured notes, utilizing cash generated from operations. This redemption will involve the 7.00% Senior Secured Notes due 2024, with a total of $200 million being redeemed before the first quarter of 2021. The first redemption is scheduled for March 24, 2021, followed by another on March 29, 2021.
The initiative reflects the company's commitment to improving its financial position.
Bausch Health reported Q4 2020 revenues of $2.213 billion and full-year revenues of $8.027 billion, down 7% from 2019 due to COVID-19 impacts, with a GAAP net loss of $153 million for Q4 and $560 million for the entire year. They generated $394 million in cash from operations in Q4, leading to a total of $1.111 billion for the year, allowing for a debt repayment of approximately $900 million. The company is advancing its pipeline and expects 2021 revenues between $8.60 and $8.80 billion.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced a strategic agreement with the Icahn Group, appointing Brett Icahn and Steven Miller as new independent directors. This decision, effective mid-March 2021, aims to enhance the Board's expertise amid the company’s ongoing strategic review and potential spin-off of its eye health business. The Icahn Group, owning 7.83% of BHC's shares, will vote in favor of the nominees at the 2021 Annual Meeting on April 27, 2021. The Board will consist of thirteen highly qualified directors, with twelve being independent.
Bausch + Lomb has launched Alaway® Preservative Free antihistamine eye drops, the first FDA-approved OTC option for relieving itchy eyes from allergies. This product is now rolling out in major U.S. retailers, including Walgreens and CVS, priced at $14.99 for a 10-day supply. The eye drops offer fast relief within minutes, lasting up to 12 hours, and are especially beneficial for those who find oral medications insufficient. This innovation targets the significant market of allergy sufferers, estimated to affect 80% of individuals with allergies.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced a $100 million debt reduction through the redemption of senior secured notes, utilizing cash generated from operations. This move is part of the company's strategy to recover from the COVID-19 pandemic and enhance shareholder value, particularly in view of a planned spinoff of Bausch + Lomb. The redemption of the 7.00% Senior Secured Notes due 2024 is scheduled for March 24, 2021. Bausch Health aims to strengthen its financial position by reducing leverage.
Bausch Health Companies (NYSE/TSX: BHC) announced the opening of the application period for its 2021 Salix Gastrointestinal Health Scholars Program.
This initiative, now in its second year, will award scholarships of up to $10,000 to 10 students living with gastrointestinal (GI) diseases. To apply, students must submit an essay detailing their GI condition's impact on their life. Applications are open until May 31, 2021, with winners to be announced in July 2021.
The program is funded through the Bausch Foundation, dedicated to health care education and patient support.
Bausch Health Companies (NYSE: BHC) announced participation in three investor conferences in March 2021. Key executives, including Chairman Joseph C. Papa and CFO Paul S. Herendeen, will represent the company at:
- Cowen & Co. Health Care Conference on March 1 at 11:00 a.m. ET
- J.P. Morgan Global High Yield & Leveraged Finance Conference on March 3 at 8:30 a.m. ET
- Barclays Global Healthcare Conference on March 9 at 2:25 p.m. ET
Live webcasts will be available on Bausch Health's Investor Relations page.
Bausch Health Companies Inc. (NYSE/TSX: BHC) responded to Icahn Capital LP's Schedule 13D filing, emphasizing their commitment to enhancing shareholder value through open communication. The company plans to spin off Bausch + Lomb to unlock additional value. Bausch Health reported a strong end to 2020, exceeding $2.2 billion in revenue and delivering robust adjusted EBITDA and cash flow. The firm remains focused on its COVID-19 recovery plan and aims to improve EBITDA and working capital while reducing leverage.
Bausch Health Companies Inc. announced that VYZULTA® (latanoprostene bunod ophthalmic solution, 0.024%) has received regulatory approval from South Korea's Ministry of Food and Drug Safety. VYZULTA is designed to lower intraocular pressure in patients with open-angle glaucoma or ocular hypertension. It is now approved in nine markets, including the U.S., Canada, and Mexico. Thomas J. Appio emphasizes the company's commitment to securing additional global approvals for innovative eye health treatments.
Bausch Health Companies Inc. (NYSE/TSX: BHC) has launched its 2021 Aspire Higher scholarship program, which awards scholarships of up to $10,000 to nine students who have experienced dermatologic conditions. Since its inception in 2013, the program has provided $738,000 to 51 students. Applicants can submit their applications until May 31, 2021, with winners announced in July 2021. The initiative aims to support students managing the challenges of education alongside skin conditions during the pandemic, highlighting the commitment of Bausch Health to enhance educational opportunities for affected students.
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