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Bausch Health Companies Inc BHC

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Bausch Health Surprises With Plan to Spin Off Solta Medical; Maintain $26 FVE

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

While Bausch Health’s second-quarter results were slightly disappointing, they were overshadowed by the firm’s surprise decision to pursue an initial public offering of Solta Medical, which will occur before moving ahead with the Bausch + Lomb spin-off. We are maintaining our $26 fair value estimate and no-moat, very high uncertainty ratings.

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Company Profile

Business Description

Formerly known as Valeant Pharmaceuticals, Bausch Health is a global specialty pharmaceutical, consumer health, and medical device company with a focus on branded products for the dermatology, gastrointestinal, and ophthalmology markets. The company reports revenue in four segments: Bausch+Lomb and international (55% of revenue), Salix pharmaceuticals (25%), ortho dermatology (6%), and diversified products (14%), and approximately 13% of revenue is attributable to non-U.S. markets. Bausch is the market leader in consumer visioncare in India and China, and the fourth- largest visioncare company by sales in the United States.

Contact
2150 Saint Elzear Boulvard West
Laval, QC, H7L 4A8, Canada
T +1 514 744-6792
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type —
Employees 21,600

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