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| Company type | Public |
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| ISIN | CA0717341071 |
| Industry | Pharmaceuticals |
| Founded | 1959 (as ICN Pharmaceuticals) |
| Founder | Milan Panić |
| Headquarters | Laval, Quebec, Canada |
Key people | Thomas J. Appio (CEO) John Paulson (Chairman) Thomas G. Vadaketh (Executive VP & CFO) John S. Barresi (Senior VP & Controller) |
| Revenue | US$8.12 billion (2022) |
| US$454 million (2022) | |
| US$−212 million (2022) | |
| Total assets | US$29.20 billion (2021) |
| Total equity | US$−34 million (2021) |
Number of employees | c. 19,600 (2021) |
| Subsidiaries |
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| Website | bauschhealth |
| Footnotes / references [1] | |
Bausch Health Companies Inc. (formerly Valeant Pharmaceuticals International, Inc.) is an American-Canadian multinational specialty pharmaceutical company based in Laval, Quebec, Canada. It develops, manufactures and markets pharmaceutical products and branded generic drugs, primarily for skin diseases, gastrointestinal disorders, eye health and neurology. Bausch Health owns Bausch & Lomb, a supplier of eye health products. Bausch Health's business model is primarily focused on acquiring small pharmaceutical companies and then sharply increasing the prices of the drugs these companies sell.[2]
Valeant was originally founded in 1959, as ICN Pharmaceuticals by Milan Panić in California. During the 2010s, Valeant adopted a strategy of buying up other pharmaceutical companies which manufactured effective medications for a variety of medical problems, and then increasing the price of those medications. As a result, the company grew rapidly and in 2015 was the most valuable company in Canada.
Valeant was involved in a number of controversies surrounding drug price hikes and the use of a specialty pharmacy for the distribution of its drugs. This led to an investigation by the U.S. Securities and Exchange Commission, causing its stock price to plummet more than 90 percent from its peak, while its debt surpassed $30 billion. In July 2018, the name of the company was changed to Bausch Health Companies Inc., in order to distance itself from the public outrage associated with massive price increases introduced by Valeant. At the same time, a new ticker symbol, BHC replaced VRX.[3]
- ^ "Bausch Health Announces Fourth-Quarter and Full-Year 2022 Results". Accesswire. 23 February 2023.
- ^ Sagonowsky, Eric (August 16, 2019). "Bausch may have shed the Valeant name, but it still leans on price hikes: analyst". Fiercepharma.com.
- ^ "Valeant, Distancing Itself From Its Past, Will Change Its Name to Bausch Health". The New York Times. 2018-05-08. ISSN 0362-4331. Retrieved 2018-05-08.