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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 a new indication for DEXAVEN (dexamethasone phosphate) solution for injection in Poland. This approval allows treatment for COVID-19 in adults and adolescents who require oxygen therapy. The corticosteroid DEXAVEN helps reduce inflammation. CEO Thomas J. Appio expressed satisfaction with this development as it provides additional treatment options for patients. However, it is important to note that dexamethasone products are not FDA-approved for COVID-19 treatments in the United States.
Bausch Health announced plans to repay approximately $900 million of debt in 2020, including $275 million on Dec. 31, 2020. This repayment will leave the company with no debt maturities or mandatory amortization payments until 2024. Bausch Health's total debt repayment for the fourth quarter of 2020 will be around $480 million, reflecting strong cash flow recovery despite COVID-19's impacts. CEO Joseph C. Papa emphasized the commercial team's resilience and effective cash conservation strategies.
Bausch Health Companies (NYSE/TSX: BHC) announced the initiation of the second Phase 3 study for NOV03, an investigational treatment for Dry Eye Disease (DED) linked to Meibomian gland dysfunction. This study follows the successful enrollment of the first Phase 3 study, which is 85% complete. NOV03, using patented EyeSol® technology, showed positive results in a Phase 2 study, significantly improving corneal staining and symptoms in patients. If approved, it may become the first pharmaceutical therapy for U.S. patients suffering from DED associated with MGD.
Bausch Health Companies Inc. (BHC) has priced an upsized offering of $2.0 billion in senior notes, consisting of 5.000% notes due 2029 and 5.250% notes due 2031. The additional $250 million will facilitate the conditional redemptions of existing €1.5 billion Euro Notes and $233 million 5.50% Notes, eliminating any note maturities until 2024. The offering aims to strengthen the company's financial position, contingent upon specific financing conditions.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced a $1.75 billion offering of new senior notes due in 2029 and 2031. Proceeds will fund the full redemption of €1.5 billion 4.50% Senior Notes due 2023 and cover related fees. The Notes will not be registered and will be offered only to qualified institutional buyers in the U.S. and to non-U.S. persons abroad. The redemption is conditional on completing debt financings of at least $1.75 billion. The transaction is expected to close in Q4 2020, subject to market conditions.
Bausch Health Companies (NYSE/TSX: BHC) announced new investigational in vitro data indicating that its eye drops, LUMIFY and BESIVANCE, effectively inactivate SARS-CoV-2, the virus responsible for COVID-19. These findings were presented at the Ocular Microbiology and Immunology Group's annual meeting on Nov. 13, 2020. In testing, LUMIFY and BESIVANCE showed complete inactivation of the virus at various contact times. However, the clinical relevance of these findings is uncertain, and neither product is approved for treating COVID-19 in humans.
Bausch + Lomb, a key eye health business of Bausch Health (NYSE/TSX: BHC), announced the ONE by ONE Recycling program has successfully recycled nearly 27 million used contact lenses and packaging since its 2016 launch. The collaboration with TerraCycle has diverted over 162,000 pounds of waste from the environment. With 5,500 participating optometry practices, the initiative also supports Optometry Giving Sight, donating $10 for every 10 pounds collected. This program showcases Bausch Health's commitment to sustainability and environmental responsibility.
Bausch Health Companies (NYSE/TSX: BHC) and its gastroenterology unit Salix Pharmaceuticals announced their participation in the AASLD annual meeting, scheduled for November 13-16, 2020. Salix will present two posters showcasing rifaximin data, highlighting its significance in treating gastrointestinal diseases. Robert Spurr, president of Salix, emphasized their commitment to advancing research in liver disease. The posters focus on a new water-soluble formulation of rifaximin and factors contributing to overt hepatic encephalopathy in clinical trials.
Bausch Health Companies (NYSE/TSX: BHC) will participate in two upcoming investor conferences. CEO Joseph C. Papa and CFO Paul S. Herendeen will present at the Wolfe Virtual Healthcare Conference on Nov. 19, 2020, at 2:55 p.m. ET. Additionally, they will join the Evercore ISI HealthCONx Conference on Dec. 1, 2020, at 8:50 a.m. ET. Live webcasts and audio archives of these events will be accessible on the company's Investor Relations page. Bausch Health aims to enhance global health through its diverse range of healthcare products.
Bausch Health reported third-quarter 2020 revenues of $2.138 billion, down 3% year-over-year, primarily due to COVID-19 impacts. Net income reached $71 million, a significant recovery from a loss of $49 million in Q3 2019. Adjusted EBITDA was $948 million, up 1%. The Bausch + Lomb/International segment's revenue decreased by 1%, while the Salix segment saw a 10% drop, influenced by product exclusivity losses and pandemic effects. Bausch Health reaffirmed its full-year revenue guidance of $7.80 – $8.00 billion and Adjusted EBITDA of $3.15 – $3.30 billion.
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