Bausch Health Responds to Market Rumors
Rhea-AI Summary
Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) has responded to market rumors circulating in a news article by Reorg®. The company categorically denies considering any form of bankruptcy or insolvency proceedings, contrary to the unsubstantiated claims made in the initial report. Reorg® has since updated its article to clarify that Bausch Health has not engaged in discussions with creditors regarding bankruptcy. The company maintains its policy of not commenting further on speculation, emphasizing the importance of relying on official company statements for accurate information about its financial status and future plans.
Positive
- Company firmly denies bankruptcy rumors
- Reorg® issued a correction to its initial report
Negative
- Circulation of unsubstantiated rumors about the company's financial status
News Market Reaction
On the day this news was published, BHC declined 23.25%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LAVAL, QC / ACCESSWIRE / July 24, 2024 / Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) (the "Company") has become aware of a news article issued by Reorg® today, citing unnamed sources.
The article contains unsubstantiated rumors, including that the Company is considering a bankruptcy or insolvency proceeding of any kind - it is not.
We understand that Reorg® has subsequently issued an update to its original news article to clarify that the Company has not been involved in discussions with its creditors regarding bankruptcy proceedings.
The Company's policy is not to provide further comment on speculation.
About Bausch Health
Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) is a global diversified pharmaceutical company enriching lives through our relentless drive to deliver better health care outcomes. We develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neurology, dermatology, medical aesthetic devices, international pharmaceuticals and eye health, through our controlling interest in Bausch + Lomb. Our ambition is to be a globally integrated healthcare company, trusted and valued by patients, HCPs, employees and investors. For more information, visit www.bauschhealth.com and connect with us on LinkedIn.
Forward-looking Statements
This news release may contain forward-looking statements about the future performance of Bausch Health, which may generally be identified by the use of the words "will," "anticipates," "hopes," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "subject to" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Actual results are subject to other risks and uncertainties that relate more broadly to Bausch Health's overall business, including those more fully described in Bausch Health's most recent annual and quarterly reports and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference.Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. The Company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.
Investor Contact: |
| Media Contact: |
Garen Sarafian |
| Katie Savastano |
| ||
(877) 281-6642 (toll-free) |
| (908) 541-3785 |
SOURCE: Bausch Health Companies Inc.
View the original press release on accesswire.com
FAQ
Is Bausch Health (BHC) considering bankruptcy or insolvency proceedings?
How has Bausch Health (BHC) responded to the market rumors on July 24, 2024?
Has Reorg® updated its initial news article about Bausch Health (BHC)?
What is Bausch Health's (BHC) policy on responding to market speculation?
