Welcome to our dedicated page for Bausch Health Companies SEC filings (Ticker: BHC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Bausch Health Companies Inc. filings document regulatory disclosures for a global diversified pharmaceutical company incorporated in British Columbia. The record includes Form 8-K reports for quarterly and annual operating results, Regulation FD updates, clinical-program disclosures, material agreements, debt exchanges and credit-agreement refinancing involving Bausch Health and its subsidiaries, including Bausch + Lomb.
Proxy materials describe annual meeting matters, director elections, auditor approval, executive compensation votes and governance procedures. Other current reports address compensatory arrangements, including performance share unit settlement terms, and capital-structure disclosures tied to senior secured notes, guarantees, collateral arrangements and refinancing transactions.
Bausch Health Companies Inc. director and Chief Executive Officer Thomas Appio reported two equity compensation transactions involving the company’s common shares.
On February 25, 2026, he acquired 815,425 common shares at $0.00 per share as a grant of restricted share units (RSUs). According to the filing, these RSUs vest in three equal annual installments over three years and are settled in common shares upon vesting.
On February 26, 2026, 116,502 common shares were disposed of in a tax-withholding transaction at $6.04 per share to cover obligations arising from RSU vesting, rather than an open-market sale. Following these transactions, Appio directly owned 3,620,034 common shares.
Bausch Health Companies Inc. filed its annual report describing a diversified global portfolio in gastroenterology, dermatology, neurology, international pharma and eye health. 2025 revenues were $10,266 million, up from $9,625 million in 2024 and $8,757 million in 2023, reflecting multi‑year growth.
The company’s key U.S. GI brand Xifaxan generated $2,212 million of 2025 revenue and faces future U.S. Medicare price cuts after negotiation under the Inflation Reduction Act starting in 2027, ahead of anticipated generic competition from 2028. Bausch Health also acquired DURECT Corporation, adding Larsucosterol, an FDA Breakthrough Therapy for alcohol‑associated hepatitis.
Bausch Health continues to pursue the planned separation of its majority‑owned eye‑care subsidiary Bausch + Lomb, in which it holds about 88% of the common shares as of February 11, 2026. Completion of this separation depends on leverage targets, approvals and ongoing Xifaxan litigation. The report details extensive regulatory, pricing, competition and compliance risks affecting its global operations.
Bausch Health Companies Inc. reported solid 2025 growth with some mixed bottom-line items. Fourth-quarter revenue was $2.80 billion, up 9% reported and 6% organically, while full-year revenue reached $10.27 billion, up 7% reported and 5% organically versus 2024.
Full-year GAAP net income attributable to Bausch Health was $157 million, reversing a prior-year loss, but the company posted a fourth-quarter GAAP net loss of $112 million driven by a $145 million goodwill impairment in its Generics unit and a $112 million deferred tax asset valuation allowance. Adjusted net income attributable to Bausch Health was $411 million for the quarter and $1.40 billion for the year, while adjusted EBITDA attributable to Bausch Health rose to $1.05 billion in Q4 and $3.54 billion for 2025.
The company generated $1.40 billion of operating cash flow in 2025, down from $1.60 billion, mainly due to higher working capital and interest payments. Management highlighted 11 consecutive quarters of revenue and adjusted EBITDA growth excluding Bausch + Lomb, the acquisition of Shibo’s aesthetics distribution business in China, and $9.6 billion of 2025 refinancing, including extending $1.6 billion of debt maturities to 2032. For 2026, Bausch Health guides to total revenue of $10.625–$10.875 billion and adjusted EBITDA of $3.875–$4.000 billion, with Bausch Health excluding Bausch + Lomb targeting $1.200–$1.275 billion in adjusted operating cash flow.
Bausch Health Companies Inc. reported that Chief Executive Officer and director Thomas Appio acquired 1,137,862 Common Shares at a price of $0 through a grant or award tied to performance-based restricted share units (PSUs). These PSUs were earned on February 9, 2026 after the board committee certified financial performance for the period from January 1, 2023 through December 31, 2025. The units remain subject to a service-based vesting condition through March 2, 2026, after which the earned Common Shares will be delivered. Following this award, Appio beneficially owns 2,921,111 Common Shares directly.
Bausch Health Companies EVP and General Counsel Seana Carson reported an acquisition of 137,922 common shares on February 9, 2026 through a performance-based equity award. These shares relate to performance-based restricted share units originally granted on March 2, 2023.
On February 9, 2026, the Talent and Compensation Committee certified financial performance metrics for the period from January 1, 2023 through December 31, 2025, causing the PSUs to be earned. The units remain subject to service-based vesting through March 2, 2026, after which the company will deliver the earned common shares, bringing Carson’s direct beneficial ownership to 637,507 shares.
Bausch Health Companies Inc. filed a current report to share that it has issued a press release about the results of its global Phase 3 RED-C clinical program. This study evaluated amorphous-rifaximin solid soluble dispersion in adults with liver cirrhosis for the primary prevention of hepatic encephalopathy.
The company furnished the press release as Exhibit 99.1 and stated that this information is being provided under Regulation FD, meaning it is intended as a broad, fair disclosure to the market. The furnished material is not considered "filed" for liability purposes under the Exchange Act or automatically incorporated into other securities filings unless specifically referenced.
Bausch Health Companies Inc. filed a report ahead of its participation in the 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026. The company plans to present at approximately 3:45 p.m. PT (6:45 p.m. ET), where management will share strategic and business updates with investors.
During this presentation, Bausch Health’s management also expects to reaffirm its full-year 2025 guidance at the higher end of the range for Bausch Health excluding Bausch + Lomb Corporation, as previously provided with its third quarter 2025 results. The presentation will be available via live audio webcast, with the materials and a replay posted on the company’s Investor Relations website.
Bausch Health Companies Inc. reports that its subsidiary Bausch + Lomb Corporation has refinanced its term loans by entering into a Fourth Amendment to its Credit and Guaranty Agreement. The amendment establishes a new $2,802,125,000 tranche of term loans maturing on January 15, 2031, with proceeds used to refinance existing term B loans due 2031 and 2028. The new loans amortize at 1.00% per annum, with the first installment due June 30, 2026. The applicable margins are 3.75% per annum for loans tied to term SOFR and 2.75% per annum for loans tied to the alternate base rate, representing reductions of 0.50% and 0.25% per annum compared to the prior tranches. The structure effectively extends the maturity of the earlier 2028 term loans to 2031.
Bausch Health Companies Inc. director John Paulson reported equity-based board compensation and his holdings in a Form 4 filing. On 12/31/2025, he acquired 8,992 restricted share units at a price of $0, issued in lieu of cash compensation for his service on the board for the quarter ending December 31, 2025. Each unit represents a contingent right to receive one common share of Bausch Health with no par value.
Following this transaction, Paulson beneficially owned 360,120 common shares directly. In addition, 73,255,869 common shares were reported as indirectly owned through investment funds managed by Paulson Capital Inc., where he is the controlling person. The filing notes that Paulson may be deemed an indirect beneficial owner of these fund-held securities and that he disclaims beneficial ownership except to the extent of any pecuniary interest.