Bausch Health Companies Inc Stock Price, News & Analysis

Bausch Health Companies Inc. (NYSE/TSX: BHC) announced a $1.6 billion offering of new senior secured notes due 2028. The funds will be used to repurchase existing 7.00% senior secured notes due 2024 and cover related expenses. The notes will be guaranteed by the company’s subsidiaries and secured by assets. The offering targets qualified institutional buyers in the U.S. and non-U.S. persons under Regulation S. Additionally, the company plans to issue a conditional notice of redemption for the remaining 2024 Notes following the tender offer. The completion of the transactions is anticipated in Q2 2021, subject to market conditions.

Bausch Health announced that its gastroenterology business, Salix Pharmaceuticals, will present new data for TRULANCE®, XIFAXAN®, and PLENVU® at the Digestive Disease Week® (DDW) 2021 from May 21-23. Notably, a poster on TRULANCE® has been honored as a Poster of Distinction, awarded to only 10% of the accepted posters. The event emphasizes Salix's commitment to providing healthcare professionals with significant data on their medications to support treatment decisions.

Bausch + Lomb announced the results from the National Eye Institute's 10-Year Follow-on Study of the Age-Related Eye Disease Study 2 (AREDS2), reinforcing the effectiveness of its vitamin formula against moderate to advanced Age-Related Macular Degeneration (AMD). The NEI continues to endorse the PreserVision® AREDS 2 Formula, which contains 80mg of zinc and beneficial amounts of lutein and zeaxanthin. The findings support the importance of this specific nutrient mix for AMD patients, showcasing Bausch + Lomb's commitment to eye health and validated by over 3,800 participants over a decade.

Bausch Health Companies (NYSE/TSX: BHC) announced participation in several investor conferences. Key executives, including CEO Joseph C. Papa, will present at the Bank of America Merrill Lynch Global Healthcare Conference on May 12, 2021, at 11:00 a.m. ET. Other conferences include the Goldman Sachs Leveraged Finance Conference on May 17, 2021, at 1:10 p.m. ET, and the Barclays High Yield Bond and Syndicated Loan Conference on May 25, 2021, at 12:45 p.m. ET. Live webcasts will be available on their Investor Relations page.

Bausch Health Companies reported first-quarter 2021 revenues of $2.027 billion, a 1% increase compared to the previous year, despite a $100 million negative impact from the COVID-19 pandemic. The GAAP net loss was $610 million, worsened by a $469 million goodwill impairment in Ortho Dermatologics. The company generated $443 million in cash from operations, a 70% increase year-over-year. Bausch Health reaffirmed its 2021 guidance, targeting $8.60 – $8.80 billion in revenue and $3.40 – $3.55 billion in adjusted EBITDA.

Bausch Health Companies Inc. (NYSE/TSX: BHC) announced a $100 million reduction in debt by redeeming senior secured notes using operational cash. This redemption of $100 million of 7.00% Senior Secured Notes due 2024 will occur on June 2, 2021. In total, the company has redeemed $400 million of these Notes in 2021, following redemptions of $200 million in March and $100 million on May 7. This move reflects Bausch Health's commitment to strengthening its financial position amidst ongoing market challenges.

Bausch + Lomb, a subsidiary of Bausch Health Companies (NYSE: BHC), will present new scientific data at the ARVO annual meeting from May 1-7, 2021. Highlights include one podium and 11 poster presentations on key products, including the investigational drug XIPERE™ and ongoing ARMOR study on antibiotic resistance. The ARMOR study features insights from 2009-2020 on ocular pathogens, while other presentations will cover recent findings from the pharmaceutical and surgical portfolios. This ongoing commitment to research aims to enhance treatment for eye care professionals.

Bausch Health Companies Inc. (NYSE/TSX: BHC) announced the successful election of 13 nominated directors at its annual meeting on April 27, 2021. Among the elected were Richard U. De Schutter and Sarah B. Kavanagh, receiving over 200 million votes for their positions. Shareholders also approved the compensation of named executive officers in a non-binding advisory vote and appointed PricewaterhouseCoopers LLP as the independent public accounting firm until the 2022 meeting. Full vote details will be reported to the SEC.

Bausch Health Companies Inc. (NYSE/TSX: BHC) has announced the availability of its presentation for the Annual Meeting of Shareholders held on April 27, 2021. This presentation can be accessed via the Investor Relations section of Bausch Health's website. The company focuses on enhancing global health through its diverse healthcare products, including pharmaceuticals and medical devices primarily in eye health, gastroenterology, and dermatology.