Earnings summaries and quarterly performance for Bausch Health Companies.
Executive leadership at Bausch Health Companies.
Thomas Appio
Detailed
Chief Executive Officer
CEO
AL
Aimee Lenar
Detailed
Executive Vice President, US Pharma
JC
Jean-Jacques Charhon
Detailed
Executive Vice President, Chief Financial Officer
SC
Seana Carson
Detailed
Executive Vice President, General Counsel
SL
Steven Lee
Detailed
Senior Vice President, Controller and Chief Accounting Officer
Board of directors at Bausch Health Companies.
Research analysts who have asked questions during Bausch Health Companies earnings calls.
MN
Michael Nedelcovych
TD Cowen
4 questions for BHC
Also covers: CHRS, MOLN, NVO +4 more
DM
Douglas Miehm
RBC Capital Markets
3 questions for BHC
Also covers: ACB, AUPH, BLCO +2 more
Jason Gerberry
Bank of America Merrill Lynch
3 questions for BHC
Also covers: ALKS, AMPH, ARWR +21 more
LS
Leszek Sulewski
Truist Securities
3 questions for BHC
Also covers: AKBA, AMRX, ANIP +6 more
Michael Freeman
Raymond James
3 questions for BHC
Also covers: ACOG, HWAIF, ONCY +2 more
GS
Glen Santangelo
Jefferies
2 questions for BHC
Also covers: ALGN, ANIP, DOCS +9 more
UR
Umer Raffat
Evercore ISI
2 questions for BHC
Also covers: ALKS, AMGN, BIIB +15 more
CM
Chi Meng Fong
BofA Securities
1 question for BHC
Also covers: BYSI, EXEL, GUTS +2 more
David Amsellem
Piper Sandler Companies
1 question for BHC
Also covers: ABBV, ALKS, AMGN +27 more
Recent press releases and 8-K filings for BHC.
Bausch Health Provides 2024 Financial Overview and Strategic Updates at J.P. Morgan Healthcare Conference
BHC
Guidance Update
Debt Issuance
New Projects/Investments
- Bausch Health reported $4.8 billion in revenue, $2.5 billion in Adjusted EBITDA, and $1.3 million in Adjusted cash flow from operations for 2024, reiterating its guidance towards the higher end of the range.
- The company successfully refinanced $9.5 billion of debt in 2025, extending its financial runway until January 1, 2028, the expected end of Xifaxan's exclusivity.
- Key pipeline advancements include anticipated early 2026 Phase III readouts for the RED-C program (a global opportunity for overt hepatic encephalopathy prevention) and the advancement of the larsucosterol Phase III program (acquired from Durect), with a readout expected in 2028.
- Growth drivers include the Solta Medical aesthetics franchise, which doubled its business with a 28% trailing 12-month growth rate (vs. 2020), and the continued performance of the international segment and Xifaxan, supported by an AI-driven engine.
- To address the capital structure post-Xifaxan loss of exclusivity, the company plans to utilize asset sales, with its equity stake in BNL identified as the most realistic source of funds.
3 days ago
Bausch Health Reports Strong 2024 Financials, Refinances Debt, and Highlights Growth Drivers and Pipeline Milestones
BHC
Guidance Update
Debt Issuance
M&A
- Bausch Health delivered $4.8 billion in revenue, $2.5 billion in Adjusted EBITDA, and $1.3 million Adjusted cash flow from operations for 2024, and is reiterating its guidance provided in the third quarter of this year.
- The company refinanced $9.5 billion of debt in 2025 and plans to further reduce its debt load, with the monetization of its 88% equity stake in BNL identified as the most realistic source of funds to address the capital structure post-Xifaxan LOE at the end of 2028.
- Key growth drivers include Salix, which grew 12% on a reported basis in Q3 2025, and Solta Medical, which saw 30% CAGR in South Korea and 40% CAGR in China from 2017 to 2024, and doubled its business with a 28% trailing 12-month growth rate versus 2020.
- Bausch Health has achieved 10 consecutive quarters of top-line and bottom-line growth and anticipates several future inflection points, including Red Sea program phase 3 readouts early this year (2026), an enhanced FLX offering in 2027, and the larsucosterol phase 3 program readout in 2028.
3 days ago
Bausch Health Provides 2024 Financial Highlights and Strategic Outlook at J.P. Morgan Healthcare Conference
BHC
Guidance Update
Debt Issuance
New Projects/Investments
- Bausch Health reported $4.8 billion in revenue, $2.5 billion in Adjusted EBITDA, and $1.3 million Adjusted cash flow from operations for 2024, while reiterating its guidance.
- The company successfully refinanced $9.5 billion of debt in 2025, extending its financial runway until the end of 2028. Plans for the capital structure post-Xifaxan LOE include asset sales, with the 88% equity stake in BNL being the most obvious candidate for monetization.
- Growth is driven by segments like Salix, which grew 12% in Q3 2025, and Solta Medical, which doubled its business with a 28% trailing 12-month growth rate since 2020, particularly strong in Asia-Pacific.
- The pipeline includes the Red Sea program for overt hepatic encephalopathy prevention, with Phase 3 readouts expected early 2026, and the acquired larsucosterol program for alcohol-associated hepatitis, with Phase 3 results anticipated in 2028.
3 days ago
Bausch + Lomb Completes Refinancing of Term B Loans
BHC
Debt Issuance
- Bausch + Lomb completed the refinancing of its outstanding Term B Loans on January 2, 2026, by entering into a fourth amendment to its existing credit agreement.
- The company secured $2,802,125,000 in new Replacement Term Loans, which were used to refinance existing Term B Loans due 2031 and 2028.
- The new Replacement Term Loans carry a reduced applicable margin of 3.75% per annum for term SOFR and 2.75% per annum for alternate base rates, representing a 0.50% and 0.25% reduction, respectively, from previous margins.
- These Replacement Term Loans will mature on January 15, 2031, extending the maturity of the First Incremental Term Loans from September 29, 2028.
Jan 2, 2026, 9:15 PM
Bausch Health Companies Inc. Completes Exchange Offers and Issues New Senior Secured Notes
BHC
Debt Issuance
- Bausch Health Companies Inc. and its indirect wholly owned subsidiary, 1261229 B.C. Ltd., completed previously announced offers to exchange outstanding 4.875% Senior Secured Notes due 2028 and 11.00% Senior Secured Notes due 2028.
- On December 26, 2025, the Issuer issued an aggregate principal amount of $1.6 billion of new 10.00% Senior Secured Notes due 2032.
- These new notes are fungible with the Issuer's existing $4.4 billion principal amount of 10.00% Senior Secured Notes due 2032, bringing the total principal amount of these notes to $6.0 billion.
- The notes are secured by a first priority lien on substantially all assets of the Issuer and other guarantors, including a pledge of approximately 60% of the outstanding common shares of Bausch + Lomb Corporation.
Dec 29, 2025, 12:32 PM
Bausch Health Announces Final Results and Expiration of Exchange Offers
BHC
Debt Issuance
- Bausch Health Companies Inc. announced the final results and expiration of its offers to exchange outstanding 4.875% Senior Secured Notes due 2028 and 11.00% Senior Secured Notes due 2028.
- The offers, which expired on December 23, 2025, were for up to $1.6 billion aggregate principal amount of new 10.00% Senior Secured Notes due 2032.
- An aggregate principal amount of $2.7 billion of existing notes was validly tendered.
- Approximately $1,600 million principal amount of new notes is expected to be issued upon settlement, currently anticipated on December 26, 2025.
Dec 23, 2025, 10:27 PM
Bausch + Lomb Announces Refinancing of Term B Loans
BHC
Debt Issuance
- Bausch + Lomb Corporation, a subsidiary of Bausch Health Companies Inc., announced the allocation of $2,802,125,000 in new term B loans.
- The proceeds from these Replacement Term Loans will be used to refinance all outstanding term B loans due 2031 and 2028.
- The refinancing is anticipated to reduce the applicable interest rate margin by 0.50% per annum for the Third Amendment Term Loans and 0.25% per annum for the First Incremental Term Loans.
- The Replacement Term Loans will mature on January 15, 2031, extending the maturity of the First Incremental Term Loans from September 29, 2028.
- These transactions are anticipated to close in the first quarter of 2026.
Dec 12, 2025, 10:30 PM
Bausch Health Announces Early Debt Exchange Offer Results
BHC
Debt Issuance
- Bausch Health Companies Inc. announced the early results of its exchange offers for outstanding senior secured notes as of December 8, 2025.
- The company offered to exchange its 4.875% Senior Secured Notes due 2028 and 11.00% Senior Secured Notes due 2028 for up to $1.6 billion aggregate principal amount of new 10.00% Senior Secured Notes due 2032.
- As of the early tender time on December 8, 2025, an aggregate principal amount of $2,690,016,000 of existing senior secured notes had been validly tendered, exceeding the maximum new notes amount.
- Consequently, approximately $1,600 million of new notes are expected to be issued, subject to proration, and any notes tendered after the early tender time will not be accepted.
Dec 9, 2025, 12:30 AM
Bausch Health Companies Discusses Xifaxan Exclusivity, Pipeline, and Solta Medical Strategy
BHC
Legal Proceedings
New Projects/Investments
Debt Issuance
- Bausch Health Companies Inc. (BHC) has achieved 11 consecutive quarters of top line and bottom line growth.
- Management anticipates the loss of exclusivity for Xifaxan on January 1, 2028, which is contingent on Teva retaining its first filer status; an appeal hearing regarding Norwich's challenge is scheduled for December 11.
- Data unblinding for the Phase 3 trials of a new Xifaxan formulation for hepatic encephalopathy is expected early next year.
- BHC is expanding its Solta Medical business in the Asia-Pac region, which accounts for approximately 80% of its revenue, through the recent acquisition of a distributor in China.
- The company completed a $7.9 billion refinancing in April to enhance capital structure flexibility and continues to focus on pipeline expansion, including the recent DURECT acquisition.
Dec 2, 2025, 3:50 PM
Bausch Health Management Discusses Business Growth, Pipeline, and XIFAXAN Exclusivity
BHC
Legal Proceedings
New Projects/Investments
Revenue Acceleration/Inflection
- Bausch Health Companies Inc. (BHC) has achieved 11 consecutive quarters of top and bottom line growth across its portfolio.
- Management's base case for XIFAXAN's loss of exclusivity is January 1, 2028, contingent on Teva retaining first filer status, with an appeal hearing scheduled for December 11th regarding a lawsuit challenging this status.
- The company anticipates early next year the unblinding of data from two combined Phase III trials for a new XIFAXAN formulation aimed at preventing OHE events.
- Solta Medical, generating 80% of its revenue from the Asia-Pacific region, recently acquired a distributor in China to enhance direct commercial control.
- Strategic priorities include maximizing portfolio value and free cash flow, expanding the pipeline (e.g., through the DURECT acquisition), and maintaining an optimal capital structure, highlighted by a $7.9 billion refinancing in April.
Dec 2, 2025, 3:50 PM
Quarterly earnings call transcripts for Bausch Health Companies.
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