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Bausch Health Companies Inc. reports news on its global diversified pharmaceutical business, including financial results, guidance, debt refinancing activity and updates from its operating businesses. The company develops, manufactures and markets products in gastroenterology, hepatology, neuroscience, dermatology, dentistry, aesthetics, international pharmaceuticals and eye health through its controlling interest in Bausch + Lomb.
Recurring company updates include Salix gastroenterology programs, Ortho Dermatologics skincare and patient-support initiatives, Solta Medical aesthetic device launches, and quarterly performance for Bausch Health excluding Bausch + Lomb. News also covers product availability, regulatory clearances for medical aesthetic devices, clinical-program disclosures and capital-structure actions.
Bausch Health Companies Inc. (NYSE/TSX:BHC) will release its third quarter financial results on November 3, 2022. A conference call and live webcast will take place at 8:00 a.m. U.S. EDT to discuss these results and provide a business update. Materials will be available on the Investor Relations section of the Bausch Health website prior to the call. Shareholders approved amendments to the 2014 Omnibus Incentive Plan at the annual meeting in June. The company aims to enhance global health through its diverse pharmaceutical portfolio.
On October 12, 2022, Salix Pharmaceuticals released its Liver Health Annual Trends Report, revealing significant challenges in managing chronic liver disease (CLD). The report indicates that over one-third of gastroenterologists noted an increase in patient hospitalizations due to cirrhosis in the past year.
Key findings highlight reimbursement challenges impacting treatment initiation and continuity, with 34% of respondents citing financial burdens as critical to patient outcomes. Notably, 38% of providers were unaware of national CLD management guidelines. The report aims to enhance awareness around liver health amidst rising mortality rates.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced significant updates regarding the coding for Seasonal Affective Disorder (SAD) by the Centers for Medicare & Medicaid Services (CMS). Effective October 1, 2022, all relevant ICD-10 codes for SAD have been consolidated into a single code, F33. This change aims to improve diagnosis and treatment for over 16 million Americans suffering from SAD, which is often underdiagnosed. Additionally, APLENZIN, the only FDA-approved treatment for SAD, is highlighted as a viable option with 20 years of clinical experience.
Bausch Health Companies Inc. (NYSE/TSX: BHC) endorses the new K76.82 ICD-10 code for hepatic encephalopathy (HE) launched by CMS, coinciding with Liver Awareness Month. This code aims to improve identification of patients with advanced liver disease, where readmission rates indicate a 20% 1-year mortality. Salix Pharmaceuticals, a subsidiary, has developed a digital toolkit to help healthcare providers adopt the new code. The prevalence of liver conditions, exacerbated by COVID-19, underscores the need for improved clinical documentation and patient care options.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced the expiration and final results of its Exchange Offers and Consent Solicitations for senior notes. As of the expiration on September 27, 2022, over $5.59 billion of Existing Senior Notes were validly tendered. Around $3.125 billion of New Secured Notes will be issued, including $1.774 billion in new 11.00% First Lien Secured Notes due 2028. The company received consents for Proposed Amendments related to several senior notes, allowing it to move forward with supplemental indentures.
Kimball Electronics (Nasdaq: KE) expanded its Board of Directors by appointing Tom Vadaketh as a new director effective September 13, 2022. Mr. Vadaketh, currently the Chief Financial Officer of Bausch Health (NYSE:BHC), will serve on the Audit Committee and stand for election at the upcoming Annual Meeting in November 2022. With extensive experience in finance and leadership roles in multinational organizations, his addition is expected to enhance the Board's skill set and contribute to the company's growth and stakeholder relationships.
Bausch Health Companies Inc. (NYSE/TSX: BHC) reported on September 14, 2022, the results of its Exchange Offers to exchange existing senior notes valued at up to $4 billion for new secured notes. As of September 13, 2022, holders had tendered approximately $5,577,725,000 in existing notes. The exchange is expected to result in approximately $3,119 million in new secured notes, comprising new first and second lien notes. The Offers will expire on September 27, 2022.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced the FDA's tentative approval of Norwich Pharmaceuticals' rifaximin 200 mg product, classified under a Paragraph III filing. The approval will not lead to full authorization until July 24, 2029, when the last of Bausch's patents for XIFAXAN expires. Currently, XIFAXAN contributes less than 1% of Salix's revenues. XIFAXAN is used to treat travelers' diarrhea and has additional indications for major gastrointestinal conditions.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced clarifications regarding its Exchange Offers to exchange existing senior notes for new secured notes. Key points include that Eligible Holders waiving rights related to the exchanged notes and retaining rights under unsold notes. The Offers are exclusively for specific eligible investors, including non-U.S. persons and qualified institutional buyers. All other terms of the Offers remain unchanged. Interested Eligible Holders are encouraged to consult the Exchange Offer Memorandum for full details.
Bausch Health Companies announced the commencement of Exchange Offers to exchange existing senior notes for new secured notes totaling up to $4 billion. The new notes include $2.5 billion in 11% First Lien Secured Notes due 2028 and $500 million in 14% Second Lien Secured Notes due 2030. A support agreement has been signed by holders representing 22.8% of existing notes. The offers will expire on September 27, 2022, with an early tender deadline on September 13, 2022. Investors should assess the details in the Exchange Offer Memorandum.