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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's LUMIFY® Eye Drops Honored in Nielsen's 2020 Top 25 Breakthrough Innovations
On October 1, 2020, Bausch Health Companies Inc. (BHC) announced that its LUMIFY redness reliever eye drops were recognized in the "Superstar" category by BASES, a Nielsen Global Consumer division, for outstanding sales and market growth. Launched in 2018, LUMIFY has secured a 40% market share among redness relievers and is the top recommended brand by eye doctors. This accolade highlights LUMIFY's effectiveness and innovative marketing, driving significant category growth and consumer engagement.
Bausch Health Companies Inc. announced that its ophthalmic solution, VYZULTA (latanoprostene bunod), has received regulatory approval in Ukraine, increasing its market reach to seven countries including the United States and Canada. In Canada, VYZULTA is now publicly reimbursed in multiple provinces. Moreover, Medicare Part D coverage in the U.S. rose to approximately 45% from 30%. The treatment is aimed at reducing intraocular pressure in patients with open-angle glaucoma or ocular hypertension. The company aims to secure more approvals globally.
Bausch Health Companies released its 2019 Corporate Social Responsibility (CSR) Report, emphasizing its commitment to ethical and sustainable business practices. The report discusses the company's initiatives in five key areas: integrity, environmental respect, global health, community improvement, and employee well-being. Significant highlights include reductions in energy and carbon emissions, established an Energy Efficiency Group, and continued responsible pricing strategies with average annual price increases capped at single digits. The company also outlines its response to COVID-19 and ongoing diversity and inclusion efforts.
Bausch Health Companies Inc. (BHC) has resolved intellectual property disputes with Sun Pharmaceutical regarding XIFAXAN® (rifaximin) 200 mg and 550 mg tablets, maintaining market exclusivity until 2028. Under the agreement, Sun will receive a non-exclusive license to market generic versions effective January 1, 2028, pending FDA approval. The litigation will be dismissed, and all intellectual property for XIFAXAN remains intact, with 26 patents securing its market position. Final patent expirations are set for July and October 2029.
Bausch Health has announced an agreement to acquire an option to purchase all ophthalmology assets from Allegro Ophthalmics, including global rights to risuteganib, an investigational treatment for dry age-related macular degeneration (AMD). The acquisition is valued at $50 million, with a $10 million initial payment and a contingent $40 million payment expected in 2021. Risuteganib targets multiple pathways involved in AMD, addressing a significant unmet medical need affecting millions globally. The acquisition aligns with Bausch Health's strategy to enhance its pipeline in eye health.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced a presentation by CEO Joseph C. Papa and CFO Paul S. Herendeen at the virtual 18th Annual Morgan Stanley Global Healthcare Conference on Sept. 16, 2020, at 1:15 p.m. ET. The presentation focuses on the company's business recovery post-COVID-19 and updates on its plan to spin off the eye health business. The presentation details are available on Bausch Health's Investor Relations page. Bausch Health aims to enhance global health through its pharmaceutical and medical products.
The Bausch Foundation, overseen by Bausch Health (BHC), released its inaugural activity report detailing philanthropy initiatives from late 2017 to June 30, 2020. The Foundation aims to enhance patient lives globally by providing access to essential medicines and supporting healthcare education. Notably, Bausch Health donated approximately $600 million in pharmaceutical products in 2018 and 2019 to aid financially struggling patients. The Foundation focuses on disease prevention, improving patient outcomes, education, and global relief efforts.
Bausch Health Companies will participate in the 18th Annual Morgan Stanley Global Healthcare Conference on Sept. 16, 2020, at 1:15 p.m. ET. Key executives, including Joseph C. Papa (Chairman and CEO), Sam Eldessouky (SVP), and Arthur J. Shannon (SVP of Investor Relations), will present. Investors can access a live webcast and audio archive on the company’s Investor Relations page. Bausch Health focuses on pharmaceuticals, medical devices, and over-the-counter products, particularly in eye health, gastroenterology, and dermatology.
Bausch Health Companies Inc. (NYSE/TSX: BHC) announced on August 31, 2020, a plan to reduce its debt by $100 million through the redemption of senior notes. The company will redeem $100 million of its 5.875% Senior Notes due September 30, 2020, using cash generated from operations. An irrevocable notice of redemption will be issued to the record holders of these notes. Bausch Health aims to strengthen its financial position and continues to focus on advancing global health through its healthcare products.
Bausch Health's subsidiary, Bausch + Lomb, has received approval from Australia's Therapeutic Goods Administration (TGA) for the BAUSCH + LOMB ULTRA® ONE DAY daily disposable silicone hydrogel contact lenses. This product is expected to be available to select practitioners in Australia by Q4 2020, with a nationwide launch planned for early 2021. This approval complements Bausch + Lomb's existing contact lens offerings and aligns with the company’s expansion strategy, which includes launches in Japan and the United States, as well as further expansions in Canada and Hong Kong.