Bausch Health Companies Inc Stock Price, News & Analysis

Bausch Health Companies (NYSE/TSX: BHC) held its 2025 Annual Meeting of Shareholders on May 13, 2025, where shareholders elected all 10 nominated directors to the board. The meeting saw significant participation with vote counts ranging from approximately 199-208 million votes in favor for different directors. Notable directors elected include Thomas J. Appio, Brett M. Icahn, and John A. Paulson.

Additionally, shareholders approved three key items: a non-binding advisory vote on executive compensation, the 2025 Employee Stock Purchase Plan (ESPP), and the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm through the 2026 annual meeting.

Bausch Health Companies announced new data showing that patients hospitalized for overt hepatic encephalopathy (OHE) had a reduced risk of 30-day rehospitalization when treated with Xifaxan® (rifaximin) after discharge, regardless of prior treatment. The claims-based analysis of 7,880 OHE patients revealed that those receiving only lactulose upon discharge had a higher risk of 30-day OHE rehospitalization compared to Xifaxan recipients (adjusted OR: 1.63-2.73, p<0.05).

Prior to hospitalization, 27.1% of patients were treated with Xifaxan, 24.1% with lactulose, and 48.8% received no treatment. The findings support AASLD treatment guidelines recommending Xifaxan as an add-on to lactulose after breakthrough OHE episodes to prevent recurrence. Up to 80% of cirrhosis patients eventually develop some form of HE.

Bausch Health reported strong Q1 2025 financial results with consolidated revenues of $2.26 billion, marking a 5% increase year-over-year. The company achieved its eighth consecutive quarter of growth, with a 6% revenue increase and 14% Adjusted EBITDA growth for Bausch Health excluding Bausch + Lomb.

Key highlights include:

• Salix segment grew 9% to $542 million
• Solta Medical segment surged 28% to $113 million
• Bausch + Lomb segment increased 3% to $1.14 billion

Despite posting a GAAP net loss of $58 million, the company successfully completed a $7.9B refinancing in April to extend maturities. Bausch Health maintained its full-year 2025 Revenue and Adjusted EBITDA guidance while updating its Adjusted Cash Flow from Operations guidance to reflect higher interest expenses.

Bausch Health and its aesthetic business Solta Medical have received Health Canada clearance for their Thermage FLX system, an advanced non-invasive radiofrequency skin tightening technology.

The fourth-generation Thermage FLX system offers several key improvements:

• 25% faster treatments with a larger 4.0 cm² treatment tip
• Enhanced patient comfort through integrated vibration and cooling
• Smart AccuREP technology that adjusts RF energy based on skin impedance
• Ergonomic handpiece design for improved provider workflow
• Versatile applications for face, eyes, and body treatments

This approval marks a significant milestone for Bausch Health's aesthetic business growth in Canada, bringing the same advanced technology already used in leading aesthetic clinics worldwide to Canadian providers and patients. The system builds on Thermage's 20-year legacy of trusted non-invasive skin tightening solutions.

Bausch Health (NYSE:BHC) has announced the launch of Fraxel FTX™, the next generation of skin resurfacing technology, at the ASLMS 2025 Conference in Orlando. The product will be initially rolled out to US dermatologists and aesthetic professionals, with global expansion planned in coming months.

The new Fraxel FTX™ features dual wavelength fractional laser technology (1550nm and 1927nm), targeting both superficial and deeper skin layers. Key improvements include:

• 20% reduction in handpiece weight and size with integrated cooling
• Intelligent Optical Tracking® with AccuTRAC™ for efficient treatment delivery
• Redesigned console with integrated arm
• New color touch screen interface for personalized treatments

The device is indicated for various dermatological procedures including skin resurfacing, treatment of dyschromia, actinic keratosis, melasma, wrinkles, and scars.

Bausch Health (NYSE:BHC) has filed a supplement to its April 2, 2025 proxy statement, revealing that Carl Icahn and affiliates have acquired cash-settled equity swaps for approximately 90.7 million common shares (24.6%), in addition to their 34.7 million beneficially owned shares (9.4%). This brings Icahn's total economic interest to approximately 34% of outstanding shares.

The company's Board directed a review of Icahn's swap positions and John Paulson's bond holdings. Icahn's swaps were accumulated between May 2021 and September 2023, with a February 2028 maturity date. Paulson, the Board Chairman, holds $50 million in Bausch Health bonds and plans to dispose of these securities to avoid potential conflicts of interest.

In response, Bausch Health implemented a shareholder rights plan (SRP) on April 14, 2025, designed to prevent any entity from acquiring 20% or more of outstanding shares without complying with permitted exemptions.

Bausch Health (NYSE/TSX: BHC) and its subsidiary Salix Pharmaceuticals announced a significant legal victory as the U.S. District Court for the District of Columbia ruled in favor of FDA, Salix, and Teva in a lawsuit filed by Norwich Pharmaceuticals.

The court denied Norwich's motion for preliminary injunction regarding its ANDA for XIFAXAN® (rifaximin) 550 mg. Norwich had challenged FDA's decision to issue tentative approval for their application and the agency's handling of Teva's 180-day exclusivity period. Norwich argued that the FDA's determination would prevent them from marketing their products until at least June 29, 2028, assuming Teva launches its rifaximin product in January 2028.

The District Court granted summary judgment supporting FDA, Salix, and Teva's position, effectively closing the case.

Bausch Health (NYSE:BHC)(TSX:BHC) has announced the adoption of a shareholder rights plan (SRP) effective April 14, 2025. The plan is designed to ensure fair and equal treatment of shareholders during any unsolicited takeover attempts or control acquisitions, including 'creeping' takeovers.

Under the SRP, one right will be attached to each outstanding common share. If triggered, rights holders (except the acquiring party) can purchase additional company shares at a significant discount to market price. The plan includes provisions for 'Permitted Bids' that wouldn't activate the SRP.

The Board emphasizes that this adoption is not in response to any specific takeover proposal or threat. The SRP requires Toronto Stock Exchange acceptance and shareholder ratification within six months of the effective date. If shareholders don't approve the plan, it will terminate along with all outstanding rights.

Bausch Health (NYSE:BHC) and its dermatology division Ortho Dermatologics have launched their 2025 ASPIRE HIGHER Scholarship Program, offering six scholarships worth up to $10,000 each to students affected by dermatologic conditions.

The program includes three Undergraduate Scholar Awards for students pursuing undergraduate or vocational/technical degrees, and three Graduate Scholar Awards for graduate-level students. Applications are open through June 11, 2025, with winners to be announced in July 2025.

Applicants must submit an online application, write an essay about their experience with a diagnosed dermatologic condition and their healthcare provider's role, and provide two reference letters. The scholarships support students attending or applying to two- or four-year colleges, universities, or advanced vocational/technical schools for the 2025-2026 academic year.