Bausch Health Companies Inc
TSX:BHC
Bausch Health Companies Inc
Bausch Health Companies Inc. stands as a prominent player in the global healthcare arena, with its roots stretching back over a century. Originally known as Valeant Pharmaceuticals, the firm has undergone significant transformation, focusing on a diverse array of health-related products and innovations. The company operates primarily in three segments: Bausch + Lomb/International, Salix, and Ortho Dermatologics. Each of these divisions articulates its commitment to enhancing patients' lives through high-quality products that address the complex challenges of eye care, gastroenterology, and dermatology, respectively. The Bausch + Lomb sector, named after its foundational company, is recognized globally for its wealth of eye health products, including contact lenses, lens care products, and ophthalmic pharmaceuticals. This sector is integral to Bausch Health's revenue stream, contributing significantly through its diverse portfolio of over-the-counter and prescription offerings.
At its core, Bausch Health has honed a business model centered around acquiring and developing specialty pharmaceuticals and health-enhancing technologies. Through strategic acquisitions, partnerships, and internal research, the company curates a vast pipeline of treatments and solutions. Revenue generation for Bausch Health is intrinsically linked to its global market footprint, operating in more than 100 countries. Sales teams across these regions work diligently to ensure that healthcare professionals and consumers alike have access to their products. Meanwhile, the company's commitment to innovation helps it remain responsive in rapidly evolving medical fields. The sales and marketing strategies are finely tuned to address regional disparities, leveraging local insights to maximize market penetration and bolster growth. Ultimately, Bausch Health Companies Inc. thrives by bridging high-quality health solutions with unmet global needs, seeking to leave a lasting impact on the lives it touches.
Bausch Health Companies Inc. stands as a prominent player in the global healthcare arena, with its roots stretching back over a century. Originally known as Valeant Pharmaceuticals, the firm has undergone significant transformation, focusing on a diverse array of health-related products and innovations. The company operates primarily in three segments: Bausch + Lomb/International, Salix, and Ortho Dermatologics. Each of these divisions articulates its commitment to enhancing patients' lives through high-quality products that address the complex challenges of eye care, gastroenterology, and dermatology, respectively. The Bausch + Lomb sector, named after its foundational company, is recognized globally for its wealth of eye health products, including contact lenses, lens care products, and ophthalmic pharmaceuticals. This sector is integral to Bausch Health's revenue stream, contributing significantly through its diverse portfolio of over-the-counter and prescription offerings.
At its core, Bausch Health has honed a business model centered around acquiring and developing specialty pharmaceuticals and health-enhancing technologies. Through strategic acquisitions, partnerships, and internal research, the company curates a vast pipeline of treatments and solutions. Revenue generation for Bausch Health is intrinsically linked to its global market footprint, operating in more than 100 countries. Sales teams across these regions work diligently to ensure that healthcare professionals and consumers alike have access to their products. Meanwhile, the company's commitment to innovation helps it remain responsive in rapidly evolving medical fields. The sales and marketing strategies are finely tuned to address regional disparities, leveraging local insights to maximize market penetration and bolster growth. Ultimately, Bausch Health Companies Inc. thrives by bridging high-quality health solutions with unmet global needs, seeking to leave a lasting impact on the lives it touches.
Revenue Growth: Bausch Health (excluding Bausch + Lomb) delivered its 10th consecutive quarter of revenue and adjusted EBITDA growth, with revenue up 7% year-over-year on a reported basis.
Segment Strength: Salix and Solta segments drove strong double-digit growth, with Solta up 25% and Salix up 12% on reported revenue.
Xifaxan Momentum: Xifaxan saw robust sales and prescription growth, supported by investments in marketing and AI-driven sales targeting, and benefited from a one-time pricing boost related to channel exits.
Guidance Raised: Management raised full-year guidance for revenue, adjusted EBITDA, and adjusted operating cash flow, reflecting ongoing operational momentum.
Debt Reduction: The company reduced debt by approximately $600 million using cash on hand and eliminated a high-cost accounts receivable facility.
R&D and Pipeline: The acquisition of DURECT and continued advancement of late-stage pipeline assets, especially in hepatology (larsucosterol and RED-C), were highlighted as drivers for future growth.
Medicare Impact: Management expects the CMS price negotiation and Medicare Part D changes to significantly impact Xifaxan, but overall EBITDA averages for 2026–2027 are expected to remain similar to 2025 guidance.
SG&A and Cash Flow: Lower SG&A in Q3 was attributed to nonrecurring accrual changes, and EBITDA/cash flow guidance was raised more than revenue due to improved conversion assumptions.
