1. Two New Directors to Be Appointed to Board

    Icahn to Support All Bausch Health Nominees for Election at 2021 Annual Meeting

    LAVAL, QB, Feb. 24, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") is pleased to announce that it will expand its Board of Directors (the "Board") to add two designees to the Board from Carl C. Icahn and affiliated entities (the "Icahn Group").

    The Company has entered into a director nomination and appointment agreement (the "Agreement") with the Icahn Group, pursuant to which Brett Icahn and Steven Miller will be appointed to the Board as new independent directors, effective in mid-March 2021, with each to serve a term expiring at the Company's 2021 Annual Meeting. The…

    Two New Directors to Be Appointed to Board

    Icahn to Support All Bausch Health Nominees for Election at 2021 Annual Meeting

    LAVAL, QB, Feb. 24, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") is pleased to announce that it will expand its Board of Directors (the "Board") to add two designees to the Board from Carl C. Icahn and affiliated entities (the "Icahn Group").

    The Company has entered into a director nomination and appointment agreement (the "Agreement") with the Icahn Group, pursuant to which Brett Icahn and Steven Miller will be appointed to the Board as new independent directors, effective in mid-March 2021, with each to serve a term expiring at the Company's 2021 Annual Meeting. The Company has also agreed to include Messrs. B. Icahn and Miller on its slate of nominees for election at the Company's 2021 Annual Meeting, which will be held on April 27, 2021, and the Icahn Group, which beneficially owns approximately 7.83% of the Company's outstanding common stock, has agreed to vote all of its shares in favor of each of the nominees on the Board's slate. The Agreement sets forth certain other provisions as well. The Agreement will be filed by the Company on a Current Report on Form 8-K with the U.S. Securities and Exchange Commission.

    "We are pleased to have reached this agreement with the Icahn Group and welcome Messrs. B. Icahn and Miller to our Board of Directors," said Joseph C. Papa, chairman and CEO, Bausch Health. "Our new colleagues bring a wealth of transaction experience to our Board, which will serve us well as we continue to execute on our strategic priorities, including our previously announced intention to spin off our leading eye health business. Together, we are aligned and focused on unlocking unrecognized value in Bausch Health, and we look forward to building on the significant progress we have already made in capitalizing on areas of unmet medical need, gaining market share in key growth areas and positioning our businesses to deliver long-term, sustainable value for our shareholders."

    "Our discussions with Bausch Health have been productive," said Carl C. Icahn. "We continue to believe there are opportunities to drive further value for all shareholders, and we look forward to collaborating with the Board and management and contributing meaningfully to the Company's ongoing strategic review."

    Concurrently with their appointments to the Board, Messrs. B. Icahn and Miller will be appointed to two Board committees, the Finance and Transactions Committee and the committee assisting with evaluating strategic alternatives, including the potential spin of the Company's eye health business.

    With today's new appointments the Board will consist of thirteen (13) highly qualified directors, twelve (12) of whom are independent. The Board is highly engaged and brings a broad range of expertise across global leadership, health care and operations.

    About Brett Icahn

    Brett Icahn has been a portfolio manager for Icahn Capital LP, a subsidiary of Icahn Enterprises L.P., a diversified holding company engaged in a variety of businesses, including investment, automotive, energy, food packaging, metals, real estate and home fashion, since October 2020. Since 2002, Mr. Icahn has held a variety of roles at Icahn Enterprises L.P., including portfolio manager of the Sargon Portfolio from 2010 to 2017. Mr. Icahn is a director of Newell Brands Inc., a global marketer of consumer and commercial products, and was previously a director of Nuance Communications, Inc., a provider of voice and language solutions; Voltari Corporation, a mobile data services provider; Take-Two Interactive Software Inc., a publisher of interactive entertainment products; and The Hain Celestial Group, Inc., a natural and organic products company. Mr. Icahn received a B.A. from Princeton University.

    About Steven Miller

    Steven Miller has been a portfolio manager of Icahn Capital LP since October 2020. Mr. Miller is responsible for analysis and engagement in connection with investments by Icahn Capital LP in public securities. Mr. Miller has been a director of Conduent Incorporated, a business process services company, since February 2021. Prior to joining Icahn Capital LP, Mr. Miller was an analyst in the Distressed and Special Situations investment group in the New York office of BlueMountain Capital Management, LLC from 2013 to 2019. Mr. Miller represented BlueMountain on the Ad Hoc Group of Puerto Rico Electric Power Authority Bondholders from 2014 to 2019. From 2011 to 2013, Mr. Miller was an analyst in the Distressed Products Group in the New York office of Goldman, Sachs & Co. Mr. Miller received a B.S. summa cum laude from Duke University in 2011.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release contains forward-looking information and statements, within the meaning of applicable securities laws (collectively, "forward-looking statements"), including, but not limited to those relating to the inclusion of the Icahn Group nominees in the Company's 2021 proxy statement, the manner in which the Icahn Group will vote in respect of the Company's proposed nominees for election as director at such meeting, Bausch Health's plan to conduct a spinoff of its eye health business and its ongoing strategic review process and the ability of the Company to capitalize on certain market opportunities. Forward-looking statements may generally be identified by the use of the words "will," "further," "continuing" or "ongoing," and variations or similar expressions, and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result, and similar such expressions also identify forward-looking information. These forward-looking statements are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs, and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that the spinoff may not be completed on the timelines or terms anticipated or at all, the spinoff does not achieve the anticipated benefits, the outcome of the strategic review and that it will yield the results expected or at all and that the 2021 Annual Meeting of shareholders proceeds in the manner anticipated and the risks and uncertainties discussed in the Company's most recent annual and quarterly reports and detailed from time to time in the Company's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which risks and uncertainties are incorporated herein by reference. These forward-looking statements are based on certain assumptions, including that the risks and uncertainties outlined above will not cause actual results or events to differ materially from those described in these forward-looking statements. Additional information regarding certain of these material factors and assumptions may also be found in the Company's filings described above. The Company believes that the material factors and assumptions reflected in these forward-looking statements are reasonable in the circumstances, but actual results or events may differ materially from those described in these forward-looking statements and readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

    (514) 856-3855

    (908) 927-1198

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  2. First FDA-Approved OTC Preservative-Free Antihistamine Eye Drop Approved for Relief of Itchy Eyes Associated with Allergies

    Now Rolling out to Major U.S. Retailers

    LAVAL, QC, Feb. 23, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced the U.S. launch of Alaway® Preservative Free (ketotifen fumarate ophthalmic solution 0.035%) antihistamine eye drops, the first and only over-the-counter (OTC) preservative-free antihistamine eye itch relief drop approved by the U.S. Food and Drug Administration.

    "As we head into Spring, millions of Americans with allergies will experience itchy eyes, one of the eye symptoms that affects approximately 80 percent…

    First FDA-Approved OTC Preservative-Free Antihistamine Eye Drop Approved for Relief of Itchy Eyes Associated with Allergies

    Now Rolling out to Major U.S. Retailers

    LAVAL, QC, Feb. 23, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced the U.S. launch of Alaway® Preservative Free (ketotifen fumarate ophthalmic solution 0.035%) antihistamine eye drops, the first and only over-the-counter (OTC) preservative-free antihistamine eye itch relief drop approved by the U.S. Food and Drug Administration.

    "As we head into Spring, millions of Americans with allergies will experience itchy eyes, one of the eye symptoms that affects approximately 80 percent of people with allergies,"1 said Joe Gordon, U.S. president, Bausch + Lomb. "With the availability of Alaway® Preservative Free antihistamine eye drops, consumers now have a new over-the-counter option that provides fast, lasting eye itch relief without the use of preservatives."

    During allergy season, irritating particles in the air, like pollen, can cause eyes to release histamines that can cause puffy, itchy eyes. Alaway® Preservative Free is a new, OTC prescription-strength formula that is formulated to block the release of histamines and reduce allergic inflammation. Working right at the source of eye itch symptoms, Alaway provides relief within minutes and lasts up to 12 hours with one dose.

    "Many of my patients who suffer from seasonal or perennial allergies tend to rely on oral allergy medication to address their symptoms. However, oral allergy medication may not provide them with the eye itch relief that they need," said Arthur Epstein, O.D., director of Clinical Research, Phoenix Eye Care, Arizona. "Alaway® is a proven antihistamine eye drop that provides patients fast-acting and long-lasting eye itch relief where they need it. Now, with the preservative-free Alaway® formula, patients who have allergies now have a new option with less risk of irritation associated with preservatives to help relieve their eye itch symptoms."

    Alaway Preservative-Free will be available for purchase at most national retailers, including Walgreens, CVS, Walmart and Amazon. A 10-day supply (20 single-dose vials) will have a manufacturer's suggested retail price of $14.99.

    For more information on Alaway® eye drops, visit www.alaway.com.  

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see better to live better. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit www.bausch.com

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    References

    1. The 2018 U.S. Study of Allergies, Multi-sponsor Surveys, Inc. February 2018.

    Alaway is a trademark of Bausch & Lomb Incorporated or its affiliates.

    All other product/brand names and/or logos are trademarks of the respective owners.

    © 2021 Bausch & Lomb Incorporated or its affiliates.

    APF.0017.USA.21

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    Lainie Keller

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    Alaway® Preservative Free antihistamine eye drops

     

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  3. LAVAL, QC, Feb. 22, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") today announced it will reduce debt by $100 million through the redemption of outstanding senior secured notes, using cash generated from operations.

    "As Bausch Health continues its recovery from the effects of the COVID-19 pandemic, we also remain focused on repaying our debt by generating cash through strong business execution and efficient management of our operations," said Joseph C. Papa, chairman and CEO, Bausch Health. "This redemption will help reduce our leverage and bring us a step closer to expediting a path forward that unlocks shareholder value, including the spinoff of Bausch + Lomb."

    Bausch Health will redeem $100

    LAVAL, QC, Feb. 22, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") today announced it will reduce debt by $100 million through the redemption of outstanding senior secured notes, using cash generated from operations.

    "As Bausch Health continues its recovery from the effects of the COVID-19 pandemic, we also remain focused on repaying our debt by generating cash through strong business execution and efficient management of our operations," said Joseph C. Papa, chairman and CEO, Bausch Health. "This redemption will help reduce our leverage and bring us a step closer to expediting a path forward that unlocks shareholder value, including the spinoff of Bausch + Lomb."

    Bausch Health will redeem $100 million aggregate principal amount of its outstanding 7.00% Senior Secured Notes due 2024, CUSIP Nos. 91911K AK8, C94143 AK7 (the "Notes") on Mar. 24, 2021. The Company will issue today an irrevocable notice of redemption for the Notes and a copy will be issued to the record holders of such Notes. Nothing contained herein shall constitute a notice of redemption of the Notes. Payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company. The name and address of the paying agent are as follows: The Bank of New York Mellon; 111 Sanders Creek Parkway, East Syracuse, N.Y. 13057; Attn: Redemption Unit; Tel: 800-254-2826.



    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Caution Regarding Forward-Looking Information and "Safe Harbor" Statement

    This news release may contain forward-looking statements, including, but not limited to, the redemption of the Notes. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company's most recent annual and quarterly reports and detailed from time to time in the Company's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on the Company, including but not limited to its supply chain, third-party suppliers, project development timelines, employee base, liquidity, stock price, financial condition and costs (which may increase) and revenue and margins (both of which may decrease). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    Investor Contact:   

    Media Contact:

    Arthur Shannon   

    Lainie Keller

         

    (514) 856-3855                       

    (908) 927-1198

    (877) 281-6642 (toll free)



     

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  4. LAVAL, QC, Feb. 18, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") and its gastroenterology (GI) business, Salix Pharmaceuticals, ("Salix"), one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal diseases, today announced the opening of the application period for the 2021 Salix Gastrointestinal Health Scholars Program. The program, in its second year, will award 10 outstanding students living with GI disease a scholarship of up to $10,000 to help them pursue their higher education goals.

    "We're proud to continue the Salix Gastrointestinal Health Scholars Program to provide financial assistance to students who are balancing the challenges…

    LAVAL, QC, Feb. 18, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") and its gastroenterology (GI) business, Salix Pharmaceuticals, ("Salix"), one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal diseases, today announced the opening of the application period for the 2021 Salix Gastrointestinal Health Scholars Program. The program, in its second year, will award 10 outstanding students living with GI disease a scholarship of up to $10,000 to help them pursue their higher education goals.

    "We're proud to continue the Salix Gastrointestinal Health Scholars Program to provide financial assistance to students who are balancing the challenges of living with GI disease while also pursuing their higher education goals, and we look forward to honoring 10 deserving students later this year," said Robert Spurr, president, Salix. 

    To apply for the 2021 scholarship, students are required to write an essay that describes the impact having a diagnosed GI condition has had on their life, as well as the role that a health care provider played in helping to manage their condition. Scholarships are offered to school applicants or current attendees of a two- or four-year college, university, or an advanced (post-high school) vocational or technical school for the 2021-2022 academic year, and are available in four categories:

    • Undergraduate Scholar Awards for students pursuing undergraduate degrees
    • Graduate Scholar Awards for students pursuing graduate degrees
    • Working Parent's Scholar Award for students who are parents pursuing undergraduate, vocational/technical or graduate degrees
    • Single Parent's Scholar Award for students who are single parents pursuing undergraduate, vocational/technical or graduate degrees

    Students can apply for the Salix Gastrointestinal Health Scholars Program through May 31, 2021. Winners will be announced in July 2021. To learn more about the scholarship, including eligibility criteria, terms and conditions, please visit www.salix.com/scholarship.

    The Salix Gastrointestinal Health Scholars Program Scholarship program is funded through the Bausch Foundation.

    About the Bausch Foundation

    The Bausch Foundation was established in 2017 to improve the lives of patients globally by providing access to safe, effective medicines and by financially supporting health care education and causes. Since its inception, the Bausch Foundation has contributed millions of dollars' worth of financial and product donations to charitable health organizations.

    About Salix

    Salix Pharmaceuticals is one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal diseases. For more than 30 years, Salix has licensed, developed, and marketed innovative products to improve patients' lives and arm health care providers with life-changing solutions for many chronic and debilitating conditions. Salix currently markets its product line to U.S. health care providers through an expanded sales force that focuses on gastroenterology, hepatology, pain specialists and primary care. Salix is headquartered in Bridgewater, New Jersey. For more information about Salix, visit www.Salix.com and connect with us on Twitter and LinkedIn.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    ©2021 Salix Pharmaceuticals or its affiliates.

    SAL.0032.USA.21

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  5. LAVAL, QC, Feb. 16, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (NYSE:BHC, TSX:BHC) ("Bausch Health" or the "Company") today announced that the Company will participate in three upcoming investor conferences.

    Joseph C. Papa, chairman and chief executive officer; Sam Eldessouky, senior vice president and corporate controller; and Arthur J. Shannon, senior vice president and head of Investor Relations and Communications, are scheduled to participate at the Cowen & Co. 41st Annual Health Care Conference on March 1, 2021 at 11:00 a.m. ET.

    Paul S. Herendeen, executive vice president and chief financial officer; Sam Eldessouky, senior vice president and corporate controller; William Woodfield, vice president and treasurer; and Arthur J. Shannon

    LAVAL, QC, Feb. 16, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (NYSE:BHC, TSX:BHC) ("Bausch Health" or the "Company") today announced that the Company will participate in three upcoming investor conferences.

    Joseph C. Papa, chairman and chief executive officer; Sam Eldessouky, senior vice president and corporate controller; and Arthur J. Shannon, senior vice president and head of Investor Relations and Communications, are scheduled to participate at the Cowen & Co. 41st Annual Health Care Conference on March 1, 2021 at 11:00 a.m. ET.

    Paul S. Herendeen, executive vice president and chief financial officer; Sam Eldessouky, senior vice president and corporate controller; William Woodfield, vice president and treasurer; and Arthur J. Shannon, senior vice president and head of Investor Relations and Communications, are scheduled to participate at the J.P. Morgan Global High Yield & Leveraged Finance Conference in on March 3, 2021 at 8:30 a.m. ET.

    Joseph C. Papa, chairman and chief executive officer; Sam Eldessouky, senior vice president and corporate controller; and Arthur J. Shannon, senior vice president and head of Investor Relations and Communications, are scheduled to participate at the Barclays Global Healthcare Conference 2021 on March 9, 2021 at 2:25 p.m. ET.

    A live webcast and audio archive of the events will be available on the Investor Relations page of the Bausch Health Companies Inc. website at: https://ir.bauschhealth.com/events-and-presentations/2021.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)



     

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  6. LAVAL, QC, Feb. 11, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") issued the following statement in response to the Schedule 13D filed by Icahn Capital LP filed earlier today:

    Bausch Health's Board of Directors and management team welcome open communication with our shareholders and constructive input toward the shared goal of enhancing shareholder value. Our Board of Directors and management team are committed to acting in the best interests of the Company and our shareholders. We continually review the Company's strategic priorities and capital allocation to evaluate opportunities to maximize long-term shareholder value.

    Underscoring this commitment is our previously announced intention to spin off Bausch + Lomb into an independent publicly traded entity to unlock what we believe is unrecognized value in Bausch Health. We remain committed to pursuing all opportunities and paths forward to deliver value for our shareholders.

    The Company exited 2020 with solid momentum, outperforming the high end of our guidance by generating revenue that exceeded $2.2 billion and delivering strong adjusted EBITDA and cash flows. We remain strategically focused on executing on our COVID-19 recovery plan, while capitalizing on key growth drivers and catalysts to grow EBITDA, improve working capital and delever our Company.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Bausch Health Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.



    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)



     

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    SOURCE Bausch Health Companies Inc.

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  7. SOPHIA ANTIPOLIS, France and LAVAL, QC, Feb. 9, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company"), Bausch + Lomb, a leading global eye health business, and Nicox (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced that VYZULTA® (latanoprostene bunod ophthalmic solution), 0.024%, has received regulatory approval from the Ministry of Food and Drug Safety in South Korea.

    VYZULTA is indicated for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension in the United States and other territories that have the same indication.1 

    "VYZULTA is an important treatment option for people suffering from glaucoma, and we are…

    SOPHIA ANTIPOLIS, France and LAVAL, QC, Feb. 9, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company"), Bausch + Lomb, a leading global eye health business, and Nicox (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced that VYZULTA® (latanoprostene bunod ophthalmic solution), 0.024%, has received regulatory approval from the Ministry of Food and Drug Safety in South Korea.

    VYZULTA is indicated for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension in the United States and other territories that have the same indication.1 

    "VYZULTA is an important treatment option for people suffering from glaucoma, and we are committed to securing additional regulatory approvals for VYZULTA in countries around the world," said Thomas J. Appio, president, Bausch + Lomb/International. "Bausch + Lomb remains focused on bringing forward innovative eye health treatment options to help address unmet medical needs around the world."

    VYZULTA is now approved in nine markets, including Argentina, Canada, Colombia, Hong Kong, Mexico, South Korea, Taiwan, Ukraine and the United States.

    Indication and Important Safety Information about VYZULTA

    INDICATION AND USAGE

    VYZULTA® (latanoprostene bunod ophthalmic solution), 0.024% is indicated for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension.

    IMPORTANT SAFETY INFORMATION

    • Increased pigmentation of the iris and periorbital tissue (eyelid) can occur. Iris pigmentation is likely to be permanent
    • Gradual changes to eyelashes, including increased length, increased thickness, and number of eyelashes, may occur. These changes are usually reversible upon treatment discontinuation
    • Use with caution in patients with a history of intraocular inflammation (iritis/uveitis). VYZULTA should generally not be used in patients with active intraocular inflammation
    • Macular edema, including cystoid macular edema, has been reported during treatment with prostaglandin analogs. Use with caution in aphakic patients, in pseudophakic patients with a torn posterior lens capsule, or in patients with known risk factors for macular edema
    • There have been reports of bacterial keratitis associated with the use of multiple-dose containers of topical ophthalmic products that were inadvertently contaminated by patients
    • Contact lenses should be removed prior to the administration of VYZULTA and may be reinserted 15 minutes after administration
    • Most common ocular adverse reactions with incidence ≥2% are conjunctival hyperemia (6%), eye irritation (4%), eye pain (3%), and instillation site pain (2%)

    Please see full prescribing information here.

    About Nicox

    Nicox S.A. is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health.  Nicox's lead program in clinical development is NCX 470, a novel nitric oxide-donating prostaglandin analog, for lowering intraocular pressure in patients with glaucoma.  The company is also developing NCX 4251, a proprietary formulation of fluticasone, for acute exacerbations of blepharitis.  Nicox generates revenue from VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, and ZERVIATE™ in allergic conjunctivitis, licensed in multiple geographies, including to Eyevance Pharmaceuticals, LLC, in the U.S. and Ocumension Therapeutics in the Chinese and in the majority of South East Asian markets. 

    Nicox is headquartered in Sophia Antipolis, France, is listed on Euronext Paris (Compartment B: Mid Caps; Ticker symbol: COX) and is part of the CAC Healthcare, CAC Pharma & Bio and Next 150 indexes.

    For more information on Nicox, its products or pipeline, please visit: www.nicox.com. 

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in more than 100 countries. For more information, visit www.bausch.com.  

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Nicox Forward-looking Statements

    The information contained in this document may be modified without prior notice. This information includes forward-looking statements. Such forward-looking statements are not guarantees of future performance. These statements are based on current expectations or beliefs of the management of Nicox S.A. and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Nicox S.A. and its affiliates, directors, officers, employees, advisers or agents, do not undertake, nor do they have any obligation, to provide updates or to revise any forward-looking statements. Risks factors which are likely to have a material effect on Nicox's business are presented in the 3rd chapter of the 'Document d'enregistrement universel, rapport financier annuel et rapport de gestion 2019' filed with the French Autorité des Marchés Financiers (AMF) on March 6, 2020 which are available on Nicox's website (www.nicox.com) and (ii) as restated in the 4th chapter of the half yearly financial report as of June 30, 2020, which is also available on Nicox's website.

    Bausch Health Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    VYZULTA is a trademark of Bausch & Lomb Incorporated or its affiliates. 

    All other product/brand names and/or logos are trademarks of the respective owners. 

    © 2021 Bausch & Lomb Incorporated or its affiliates.


    1 VYZULTA® [prescribing information]. Bridgewater, NJ: Bausch & Lomb Incorporated; 2019.





    Nicox Investors & Media Contact:

    Investor Contact:

    Gavin Spencer

    Art Shannon

    +33 (0)4 97 24 53 00

    (514) 856-3855



    (877) 281-6642 (toll free)

    Mary-Ann Chang 



     

    Media Contact:

    +44 7483 284 853

    Lainie Keller



    Nicox Media France Contact:

     (908) 927-1198



    +33 6 27 74 74 49







     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

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    SOURCE Bausch Health Companies Inc.

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  8. LAVAL, QC, Feb. 2, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") and its dermatology business, Ortho Dermatologics, one of the largest prescription dermatology health care businesses, today announced the opening of the application process for its 2021 Aspire Higher scholarship program. The program, which began in 2013, will award nine students who have been treated for a dermatologic condition with a scholarship of up to $10,000 in support of their academic goals.

    "Many students today are balancing a mix of in-person and remote education in addition to managing part-time jobs and extra-curricular activities. In normal circumstances, it can be challenging for students to juggle all that is part of getting an education, and with the added physical and emotional burden of living with a skin condition during a worldwide pandemic, it's even more difficult," said Scott Hirsch, senior vice president and chief strategy officer, Bausch Health, and president, Ortho Dermatologics. "We are excited to continue the Aspire Higher scholarship program in 2021 and to assist deserving students as they work to achieve their academic goals."

    To apply for the 2021 scholarship, students are required to submit letters of recommendation along with a long-form essay describing the impact of their dermatologic condition and the role that a dermatologist, physician assistant or nurse practitioner has played in helping to treat their condition. Scholarships are open to applicants who have been accepted to, or students currently attending, an accredited, nonprofit, two- or four-year college, university or advanced (post-high school) vocational or technical school for the 2021-2022 academic year.

    Scholarships are available in the following three categories:

    • Undergraduate Scholar Awards for students pursuing undergraduate degrees
    • Graduate Scholar Awards for students pursuing graduate degrees
    • Today's Woman Scholar Awards for students who are mothers pursuing either undergraduate or graduate degrees

    "For several years, I've tackled a chronic skin disease while fighting to accept myself with this condition," said Magdalena Augustine, a 2020 Aspire Higher scholarship recipient. "The Aspire Higher Scholarship Program has made that fight so much easier by recognizing students like me who are living with skin conditions and helping to support our higher education aspirations."

    Students can apply for the Aspire Higher scholarship through May 31, 2021, and winners will be announced in July 2021. To learn more about the scholarship, including eligibility criteria, terms and conditions, and to see stories from previous winners, please visit www.AspireHigherScholarships.com.

    About Aspire Higher

    Since 2013, the Aspire Higher scholarship program has awarded 51 scholarships, providing students a total of $738,000 toward their higher education on campuses nationwide. The Aspire Higher Scholarship program is funded through the Bausch Foundation.

    About the Bausch Foundation

    The Bausch Foundation was established in 2017 to improve the lives of patients globally by providing access to safe, effective medicines and by financially supporting health care education and causes. Since its inception, the Bausch Foundation has contributed millions of dollars' worth of financial and product donations to charitable health organizations.

    About Ortho Dermatologics 

    Ortho Dermatologics is one of the largest dermatology businesses dedicated to helping patients in the treatment of a range of therapeutic areas, including psoriasis, actinic keratosis, acne, atopic dermatitis and other dermatoses. The Ortho Dermatologics portfolio is further complemented by Solta Medical, the maker of Fraxel®, Thermage®, Clear + Brilliant® and Vaser® ultrasonic assisted liposuction for aesthetic applications. More information can be found at www.ortho-dermatologics.com.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    ®/TM are trademarks of Ortho Dermatologics' affiliated entities.

    © 2021 Ortho Dermatologics' affiliated entities.

    NPR.0022.USA.21

    Investor Contact:        

    Media Contact:

    Arthur Shannon              

    Lainie Keller

      

     

    (514) 856-3855       

    (908) 927-1198

    (877) 281-6642 (toll free)      



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    SOURCE Bausch Health Companies Inc.

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  9. Organizations Also Launch Social Media Donation Campaign to Support Prevent Blindness' Sight-Saving Fund During February's AMD Awareness Month

    BRIDGEWATER, N.J., and CHICAGO, Feb. 1, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), and Prevent Blindness, the nation's oldest volunteer eye health non-profit organization, today announced they are joining together for the sixth consecutive year during AMD Awareness Month to raise awareness of Age-Related Macular Degeneration (AMD), one of the leading causes of vision loss in adults 50 years of age and older. The two organizations will launch a year-long video series which will feature the personal stories of people…

    Organizations Also Launch Social Media Donation Campaign to Support Prevent Blindness' Sight-Saving Fund During February's AMD Awareness Month

    BRIDGEWATER, N.J., and CHICAGO, Feb. 1, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), and Prevent Blindness, the nation's oldest volunteer eye health non-profit organization, today announced they are joining together for the sixth consecutive year during AMD Awareness Month to raise awareness of Age-Related Macular Degeneration (AMD), one of the leading causes of vision loss in adults 50 years of age and older. The two organizations will launch a year-long video series which will feature the personal stories of people who have AMD and the strategies they have for living a healthy lifestyle with the first episode launching later this month.

    "Every February for the past six years, we have collaborated with Prevent Blindness to raise awareness of AMD, which affects approximately 16 million people in the United States," said Joe Gordon, U.S. president, Bausch + Lomb. "Beginning this month and through the remainder of 2021, we will release videos that highlight several outstanding people who have been able to successfully manage their AMD diagnosis while continuing to live fulfilling lives. It is our hope that through their stories we can encourage others with AMD, particularly during these times, to take the right actions to help reduce their risk of progression of this debilitating condition."

    As part of the launch of the video series, Bausch + Lomb and Prevent Blindness will post a variety of content on their social media pages throughout AMD Awareness Month in February to share facts and helpful information about AMD. Additionally, Bausch + Lomb will donate $1* to Prevent Blindness and its sight-saving fund for every "share" or "like" of certain posts from the Bausch + Lomb SightMatters Facebook page at https://www.facebook.com/SightMattersCommunity

    "We're very proud of the progress we've made with Bausch + Lomb in raising awareness and providing resources to support people living with AMD. We look forward to expanding our efforts by sharing real-life personal stories," said Jeff Todd, president and CEO, Prevent Blindness. "Even with the impact of the COVID-19 pandemic and some delays in routine care, we hope that these videos, coupled with our social media campaign, will inspire people to schedule a comprehensive dilated eye exam with their doctor – the only way to get properly diagnosed with AMD."

    Although there is no cure for AMD, there are steps that patients can take as part of a plan created with their doctor to help reduce their risk of progression. These steps include stopping smoking, exercising regularly, maintaining a healthy diet, and receiving a dilated eye exam. 

    Patients can also talk to their doctor about taking a vitamin based on the AREDS2 study. Only PreserVision® AREDS 2 formula eye vitamins contain the exact nutrient formula recommended by the National Eye Institute to help reduce the risk of moderate to advanced AMD progression.

    To watch the video series and find more information on AMD, visit www.SightMatters.com. For a free listing of organizations and services that provide financial assistance for vision care in English or Spanish, please visit Prevent Blindness at https://www.preventblindness.org/vision-care-financial-assistance-information.  

    About AMD

    AMD is an eye disease that affects the macula, the part of the eye that supports sharp, central vision needed for seeing objects clearly. Early-stage AMD often does not present any symptoms or changes in vision, as symptoms usually appear gradually over time. This progressive condition can impact one or both eyes, causing people to have difficulty with daily activities like driving, reading or recognizing the faces of loved ones.

    About Prevent Blindness

    Founded in 1908, Prevent Blindness is the nation's leading volunteer eye health and safety organization dedicated to fighting blindness and saving sight.  Focused on promoting a continuum of vision care, Prevent Blindness touches the lives of millions of people each year through public and professional education, advocacy, certified vision screening and training, community and patient service programs and research.  These services are made possible through the generous support of the American public.  Together with a network of affiliates, Prevent Blindness is committed to eliminating preventable blindness in America. For more information, visit us at preventblindness.org, and follow us on Facebook, TwitterInstagram and LinkedIn.

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit www.bausch.com.   

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    *Bausch + Lomb will donate $1 to the organization Prevent Blindness for every Facebook like or share, up to $50,000, from 2/1/2021 through 2/28/2021.

    PreserVision is a trademark of Bausch & Lomb Incorporated or its affiliates.

    AREDS2 is a registered trademark of the United States Department of Health and Human Services (HHS).

    All other product/brand names and/or logos are trademarks of the respective owners.

    © 2021 Bausch & Lomb Incorporated or its affiliates.

    PV2.0024.USA.21

    Prevent Blindness Media Contact:

    Bausch Health Investor Contact:

    Sarah Hecker

    Arthur Shannon

    (312) 363-6035

    (514) 865-3855



    (877) 281-6642 (toll free)







    Bausch Health Media Contact:



    Lainie Keller





    (908) 927-1198

     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

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    SOURCE Bausch Health Companies Inc.

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  10. LAVAL, Quebec, Jan. 27, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") will release its fourth-quarter and full-year 2020 financial results on Wednesday, Feb. 24, 2021. Bausch Health will host a conference call and live web cast at 8:00 a.m. ET to discuss the results and provide a business update. All materials will be made available on the Investor Relations section of the Bausch Health website prior to the start of the call.

    Conference Call Details

    Date:

    Wednesday, Feb. 24, 2021



    Time:

    8:00 a.m. ET



    Webcast:

    http://ir.bauschhealth.com/events-and-presentations



    Participant Event Dial-in: 

    +1 (888) 317-6003 (United States)

    +1 (412) 317-6061 (International)

    +1 (866) 284-3684 (Canada)



    Participant Passcode:

    2735891

    LAVAL, Quebec, Jan. 27, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") will release its fourth-quarter and full-year 2020 financial results on Wednesday, Feb. 24, 2021. Bausch Health will host a conference call and live web cast at 8:00 a.m. ET to discuss the results and provide a business update. All materials will be made available on the Investor Relations section of the Bausch Health website prior to the start of the call.

    Conference Call Details

    Date:

    Wednesday, Feb. 24, 2021





    Time:

    8:00 a.m. ET





    Webcast:

    http://ir.bauschhealth.com/events-and-presentations





    Participant Event Dial-in: 

    +1 (888) 317-6003 (United States)

    +1 (412) 317-6061 (International)

    +1 (866) 284-3684 (Canada)





    Participant Passcode:

    2735891





    Replay Dial-in:

    +1 (877) 344-7529 (United States)

    +1 (412) 317-0088 (International)

    +1 (855) 669-9658 (Canada)





    Replay Passcode:

    10150375 (replay available until March 3, 2021)

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

     

    (514) 856-3855                                  

    (908) 927-1198

    (877) 281-6642 (toll free)                    



    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

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    SOURCE Bausch Health Companies Inc.

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    • Participation from both existing and new investors
    • Total capital raised for company to date: c. £33 million (c. $45 million)
    • Capital utilised to accelerate lead programs: amyloid-β and α-synuclein
    • Company to nominate lead clinical amyloid-β candidate in Q1, 2021
    • α-synuclein being advanced in collaboration with Eisai Co., Ltd
    • Dr. Andrew C. von Eschenbach and Mr. Owen Hughes appointed to Board
    • Talent added at senior management level
    • Company to progress additional high-value targets: IAPP, tau & TDP-43
    • Initiated application of the kinetics platform to Oncology

    Wren Therapeutics Ltd., ("Wren"), a biopharmaceutical company pioneering a unique network kinetics approach to drug discovery for protein misfolding diseases, today announced…

    • Participation from both existing and new investors
    • Total capital raised for company to date: c. £33 million (c. $45 million)
    • Capital utilised to accelerate lead programs: amyloid-β and α-synuclein
    • Company to nominate lead clinical amyloid-β candidate in Q1, 2021
    • α-synuclein being advanced in collaboration with Eisai Co., Ltd
    • Dr. Andrew C. von Eschenbach and Mr. Owen Hughes appointed to Board
    • Talent added at senior management level
    • Company to progress additional high-value targets: IAPP, tau & TDP-43
    • Initiated application of the kinetics platform to Oncology

    Wren Therapeutics Ltd., ("Wren"), a biopharmaceutical company pioneering a unique network kinetics approach to drug discovery for protein misfolding diseases, today announced the closing of a £12.4 million (c. $17.0 million) financing.

    This financing brings the total capital raised to date to approximately £33 million (c. $45 million). The financing was led by existing shareholder The Baupost Group, with participation from existing investors including LifeForce Capital and new investors including Schooner Capital and Industry Ventures.

    Dr. Samuel Cohen, Chief Executive Officer of Wren, commented: "This support from both our existing as well as our new shareholders will accelerate the advancement of our two lead small molecule programs towards the clinic for the potential treatment of Alzheimer's disease and various synucleinopathies including Parkinson's disease."

    Dr. Cohen added: "The new capital, alongside our recently announced collaboration with Eisai, is a further endorsement of our unique chemical kinetics platform that has been industrialised by the Wren team over the previous four years, building on more than a decade of prior academic research. Our mission is to radically advance drug discovery for a wide range of protein misfolding diseases by creating molecules that will offer transformative therapeutic options for millions of patients globally suffering from these increasingly common medical disorders."

    Progress in advancing the platform

    Selected highlights include:

    • Advanced lead small molecule programs targeting amyloid-beta and alpha-synuclein, with first clinical candidate for amyloid-β in Q1 2021
    • Announced research collaboration with Eisai Co., Ltd for α-synuclein
    • Expanded the pipeline to three additional targets: IAPP for diabetes; tau for Alzheimer's disease and other tauopathies; and TDP-43 for motor neurone disease
    • Publication in Nature Structural & Molecular Biology, co-authored by Wren's scientific founders and senior Biogen scientists, demonstrating the predictive capability of Wren's chemical kinetics in assessing clinical-stage molecules for Alzheimer's disease
    • Added new disease area of Oncology with discovery work underway

    Board of Directors Expanded and Senior Management Strengthened

    Wren has expanded its Board of directors and strengthened its leadership team.

    Board appointments include Dr. Andrew C. von Eschenbach and Mr. Owen Hughes. Dr. von Eschenbach is the former Commissioner of the US Food and Drug Administration ("FDA"), and currently serves as president of Samaritan Health Initiatives Inc., and is a senior fellow at the Milken Institute and the Bipartisan Policy Center. Dr. von Eschenbach serves on the Board of Bausch Health (NYSE:BHC, TSX:BHC), Celularity Inc., and Radius Health (NASDAQ:RDUS).

    Mr. Owen Hughes is Chief Executive Officer of Cullinan Management, Inc. (NASDAQ:CGEM) and serves as an advisor to MPM Capital. The biographies for both directors are listed below. These board appointments complement the existing Board.

    In addition, the company has also significantly expanded its scientific and business operations team including the appointment of Dr. Alleyn Plowright to the position of Head of Translational Science and Pre-Clinical Development. Prior to this, Alleyn held the positions of Head, Integrated Drug Discovery with Sanofi (Germany) and Senior Principal Scientist at AstraZeneca.

    About New Board Directors

    Andrew C. von Eschenbach, M.D., currently serves as president of Samaritan Health Initiatives Inc. and as a senior fellow at the Milken Institute and the Bipartisan Policy Center.

    Dr. von Eschenbach was appointed Acting Commissioner of the U.S. FDA in 2005, was later confirmed by the Senate as Commissioner in 2006 and held this role until 2009. Prior to that, he served as director of the National Cancer Institute at the National Institutes of Health from 2002 to 2006. Dr. von Eschenbach also previously served as a physician, surgeon, oncologist and executive at the University of Texas MD Anderson Cancer Center from 1976 until 2002, and since 2009, he has continued to serve as an adjunct professor. Dr. von Eschenbach is an internationally renowned cancer specialist and the author of more than 300 scientific articles on cancer and medical topics.

    Dr. von Eschenbach earned a B.S. from St. Joseph's University and a M.D. from Georgetown University. Dr. von Eschenbach is a director of Bausch Health (NYSE:BHC, TSX:BHC), Celularity Inc., and Radius Health (NASDAQ:RDUS) and is a member of the Board of the Reagan Udall Foundation of the US FDA .

    Owen Hughes is the Chief Executive Officer of Cullinan Management, Inc. (NASDAQ:CGEM).

    Prior to joining Cullinan Oncology, Owen served as the Chief Business Officer and Head of Corporate Development at Intarcia Therapeutics. Previously, Owen served as a Director of Brookside Capital, under the Bain Capital umbrella, managing public and private healthcare investments. Prior to his tenure at Brookside, he was Senior Portfolio Manager at Pyramis Global Advisors, a Fidelity Investments Company. Owen has more than 18 years of Wall Street experience, on both the buy and sell sides. Owen received his B.A. from Dartmouth College.

    Owen currently serves as an advisor to MPM Capital, Chairman of the Board of Directors at Radius Health (NASDAQ:RDUS) and a member of the board of Translate Bio (NASDAQ:TBIO).

    About Wren Therapeutics Ltd.

    Wren is a spin-off company from the University of Cambridge (UK) and Lund University (Sweden), focused on drug discovery and development for protein misfolding diseases. Wren is advancing an entirely novel approach to address this class of diseases, based on more than a decade of research from its scientific founders focused on the chemical kinetics of the protein misfolding process. Wren's predictive, quantitative platform is built on concepts from the physical sciences and is a fundamental shift from the descriptive, qualitative methods of traditional biology, which have failed to successfully address these complex systems. Wren is using its unique approach to develop a broad pipeline of therapeutics for protein misfolding diseases.

    For more information on Wren, please visit: www.wrentherapeutics.com

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  11. LAVAL, QC, Jan. 21, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced that LUMIFY® (brimonidine tartrate ophthalmic solution 0.025%) redness reliever eye drops have received approval from the Ministry of Food and Drug Safety (MFDS) in South Korea.

    "The approval of LUMIFY in South Korea marks another step in our global rollout of these innovative redness reliever eye drops," said Thomas J. Appio, president, Bausch + Lomb/International. "LUMIFY will be a welcome addition to our portfolio of eye health products in South Korea, and we expect LUMIFY will be available to consumers in South Korea in the second half of 2021."

    Since its initial U.S. approval…

    LAVAL, QC, Jan. 21, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced that LUMIFY® (brimonidine tartrate ophthalmic solution 0.025%) redness reliever eye drops have received approval from the Ministry of Food and Drug Safety (MFDS) in South Korea.

    "The approval of LUMIFY in South Korea marks another step in our global rollout of these innovative redness reliever eye drops," said Thomas J. Appio, president, Bausch + Lomb/International. "LUMIFY will be a welcome addition to our portfolio of eye health products in South Korea, and we expect LUMIFY will be available to consumers in South Korea in the second half of 2021."

    Since its initial U.S. approval in 2017, LUMIFY has achieved the No. 1 dollar share among redness relievers (at 40% share in the latest 52 weeks)1, became the No. 1 eye doctor recommended brand within the first few months of launch,2 and brought in more than a million first-time users into the eye redness reliever category3 in the United States.

    Additional regulatory submissions for LUMIFY are underway in multiple countries.

    About LUMIFY Redness Reliever Eye Drops

    In the United States and Korea, LUMIFY is the first and only over-the-counter eye drop developed with low dose brimonidine tartrate 0.025% for the relief of redness of the eye due to minor eye irritations. Unlike other redness relievers, LUMIFY selectively targets redness, with a reduced risk of certain side effects, including rebound redness and loss of efficacy over time, when used as directed. For more information on LUMIFY, U.S. residents can visit www.lumifydrops.com.

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see better to live better. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit www.bausch.com.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    1. Consumer Data Science: Total US Omnichannel Data Ending 12-27-20.
    2. Consumer Data Science: IQVIA ProVoice Data Ending Q4 2020.
    3. Consumer Data Science: IRI, Total US All Outlet Panel Data Ending 12-27-20.

    LUMIFY is a trademark of Bausch & Lomb Incorporated or its affiliates. Any other product/brand names are trademarks of the respective owners. © 2021 Bausch & Lomb Incorporated or its affiliates.

    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)



     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

    (PRNewsfoto/Bausch Health Companies)

     

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    SOURCE Bausch Health Companies Inc.

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  12. Bausch + Lomb Will Also Host Presentation on Technologies that Can Help Create Efficiencies in Fitting Zenlens Scleral Lenses on Patients

    LAVAL, QC, Jan. 20, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced that two poster presentations will feature data on the new Bausch + Lomb INFUSE silicone hydrogel (SiHy) daily disposable contact lenses during the virtual Global Specialty Lens Symposium (GSLS) Annual Meeting, which takes place Jan. 21-23, 2021. Bausch + Lomb also will offer attendees the opportunity to participate in a presentation about its Zenlens scleral lenses.

    "The continued response from patients has been overwhelmingly positive…

    Bausch + Lomb Will Also Host Presentation on Technologies that Can Help Create Efficiencies in Fitting Zenlens Scleral Lenses on Patients

    LAVAL, QC, Jan. 20, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced that two poster presentations will feature data on the new Bausch + Lomb INFUSE silicone hydrogel (SiHy) daily disposable contact lenses during the virtual Global Specialty Lens Symposium (GSLS) Annual Meeting, which takes place Jan. 21-23, 2021. Bausch + Lomb also will offer attendees the opportunity to participate in a presentation about its Zenlens scleral lenses.

    "The continued response from patients has been overwhelmingly positive since we launched this breakthrough new lens last year in the United States, Canada and other countries around the world.* In fact, in a survey among patients who tried Bausch + Lomb INFUSE lenses, 97% of patients agreed Bausch + Lomb INFUSE lenses provide crisp, clear vision throughout the day, and 94% of patients agreed Bausch + Lomb INFUSE helps keep contact lenses from feeling dry,"1 said Joseph C. Papa, chairman and CEO, Bausch Health. "We are proud to continue to support ongoing research on this unique lens to help eye care professionals understand its clinical benefits and relevance for patients."

    Bausch + Lomb INFUSE Poster Presentations

    The Bausch + Lomb INFUSE poster presentations will be accessible to conference attendees via the GSLS website from Jan. 21-23, 2021.

    The poster presentations are as follows:

    • Scheuer, Catherine et al. "Impact of a Novel Contact Lens on Maintaining the Native State of a Tear Film Protein"
      • An in vitro study to investigate the ability of a contact lens solution to stabilize the representative tear film protein lysozyme in its native state.
    • Steffen, Robert et al. "Evaluation of the Stability of Surface Water Characteristics of Contact Lenses Using Refractive Index Shifts after Wear of Daily Disposable Lenses"
      • A study to investigate surface water stability using refractive index shifts after insertion for four unique polymers, kalifilcon A, delefilcon A, verofilcon A and nesofilcon A.

    Zenlens™ Event Presentation

    On Jan. 22, 2021, from 5:15 to 5:45 p.m. ET, Bausch + Lomb will host a presentation featuring one of its prominent custom contact lenses, Zenlens scleral lenses, led by Jason Jedlicka O.D., FAAO, FSLS, FCLSA, associate professor and director of the Cornea and Contact Lens Service, Indiana University School of Optometry. During the event, "Using Technology for Fitting Success", Dr. Jedlicka will discuss how technology can help create fitting efficiencies using the Zenlens lenses through the use of corneal topography, scleral topography and anterior segment optical coherence tomography.

    About Bausch + Lomb INFUSE Contact Lenses

    Bausch + Lomb INFUSE contact lenses are the only SiHy daily disposable with a next generation material infused with ProBalance Technology that work together to help maintain ocular surface homeostasis to help minimize symptoms of contact lens dryness and discomfort for exceptional clarity and comfort. The ProBalance Technology™ formula is infused into the lens material during the manufacturing process. These proprietary ingredients are released during lens wear. Bausch + Lomb INFUSE combines exceptional breathability for healthy lens wear with high moisture content and a low modulus. It also maintains 96% of its moisture for a full 16 hours. For more information on Bausch + Lomb INFUSE contact lenses, visit http://www.bauschinfuse.com/.

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see better to live better. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit www.bausch.com.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    * Bausch + Lomb INFUSE silicone hydrogel daily disposable contact lenses are branded as BAUSCH + LOMB ULTRA® ONE DAY daily disposable silicone hydrogel contact lenses in Canada.

    References

    1. Results of an online survey with patients who completed an evaluation program for Bausch + Lomb INFUSE contact lenses and wore their trial lenses for ≥7 days (n=777). Survey results include patients who strongly agreed, agreed, or slightly agreed (on a 6-point agreement scale) with the surveyed statement, with a margin of error ±1.7%.

    ®/TM are trademarks of Bausch & Lomb Incorporated or its affiliates.

    Any other product/brand names are trademarks of the respective owners.

    © 2021 Bausch & Lomb Incorporated or its affiliates.

    MTB.0030.USA.21

    Investor Contact:

    Media Contact:

    Arthur Shannon 

    Lainie Keller

                                              

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)                                                  



     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

    (PRNewsfoto/Bausch Health Companies)

     

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    SOURCE Bausch Health Companies Inc.

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  13. Phase 2 Study Published in Cornea: The Journal of Cornea and External Disease; Study Met Primary Endpoint in Patients with Highly Symptomatic Evaporative Dry Eye Disease Associated with Meibomian Gland Dysfunction

    LAVAL, QC and HEIDELBERG, Germany, Jan. 19, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company"), and Novaliq GmbH, a pharmaceutical company focusing on first- and best-in-class ocular therapeutics, today announced the first of two Phase 3 studies evaluating NOV03 as a first-in-class investigational drug with a novel mechanism of action to treat the signs and symptoms of Dry eye disease (DED) associated with Meibomian gland dysfunction…

    Phase 2 Study Published in Cornea: The Journal of Cornea and External Disease; Study Met Primary Endpoint in Patients with Highly Symptomatic Evaporative Dry Eye Disease Associated with Meibomian Gland Dysfunction

    LAVAL, QC and HEIDELBERG, Germany, Jan. 19, 2021 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company"), and Novaliq GmbH, a pharmaceutical company focusing on first- and best-in-class ocular therapeutics, today announced the first of two Phase 3 studies evaluating NOV03 as a first-in-class investigational drug with a novel mechanism of action to treat the signs and symptoms of Dry eye disease (DED) associated with Meibomian gland dysfunction (MGD) has been completely enrolled with a total of 599 participants.

    Additionally, a Phase 2 clinical study (SEECASE) evaluating the efficacy, safety, and tolerability of NOV03 (perfluorohexyloctane) ophthalmic solution in patients with DED associated with MGD has been published in Cornea: The Journal of Cornea and External Disease. In the study, NOV03 met its primary efficacy endpoint of statistically significant improvement of total corneal fluorescein staining over control at eight weeks. NOV03 also showed statistically significant improvement of certain symptoms, such as severity and frequency of dryness and burning/stinging of the eyes, over the entire duration of the Phase 2 study.1

    "We are committed to addressing the unmet needs of patients, and believe NOV03, if approved, may be  a first-in-class treatment option for the millions of patients who suffer from Dry eye disease associated with Meibomian gland dysfunction," said Joseph C. Papa, chairman and CEO, Bausch Health. "This continued progress in our Phase 3 program and the published results of the SEECASE study are both exciting milestones in our development journey for NOV03." 

    "Dry eye disease is one of the most common ocular surface disorders causing discomfort for millions of Americans," said Joseph Tauber, M.D., founder of Tauber Eye Center in Kansas City, Mo., and lead author of the publication. "Given the key role Meibomian gland dysfunction plays in the pathogenesis of this disease, we are very encouraged by the findings in the SEECASE study, which demonstrate the potential for NOV03 as a possible treatment for those with highly symptomatic DED associated with MGD, and look forward to the results of the Phase 3 studies."

    Summary of Phase 2 SEECASE Study Results

    The prospective, multicenter, randomized, double-masked, saline-controlled clinical study evaluated NOV03 at two dosing regimens. The data published was based on results from 336 patients age 18 years or older who were randomized to one of four treatment groups: NOV03 four times daily (QID), NOV03 twice daily (BID), saline BID or saline QID (a 2:2:1:1 ratio). The study met its primary efficacy endpoint of statistically significant improvement of total corneal fluorescein staining (tCFS) over control at eight weeks. Data showed a change from baseline of tCFS over control, for both dosing regimens (QID and BID, P < 0.001 and P = 0.009, respectively). Effects  on tCFS and symptoms started at two weeks after start of treatment and were maintained over the study duration. The effects were dosing schedule dependent. NOV03 was well tolerated with instillation site reactions below 3% in both treatment regimens.1

    The SEECASE study was conducted at 12 ophthalmology practices in the United States with patients who had a history of DED in both eyes and if one eye (the same eye) met the inclusion criteria at screening and at randomization time. Several symptom assessments such as Eye Dryness Score measured using visual analog scale (VAS), VAS for other symptoms such as burning/stinging, itching, blurred vision, and sensitivity to light, and Ocular Surface Disease Index (OSDI) were evaluated to assess the effect of NOV03 on DED symptomatology.1

    Patients treated with NOV03 also experienced statistically significant improvement of certain DED symptoms over the entire duration of the Phase 2 study. Changes from baseline were statistically significant compared with those of the control group at week eight [P < 0.001 (QID) and P = 0.002 (BID)]. Other symptoms evaluated included burning/stinging, sticky feeling, foreign body sensation, itching, blurred vision, sensitivity to light and pain. The following treatment emergent adverse events (TEAEs) reported by more than 2% of subjects were blurred vision in the NOV03 QID group, eye irritation in the NOV03 BID group and eye pain in the saline group. Overall the number of patients reporting at least one TEAE was similar between the treatment groups.1

    "The results demonstrated in the SEECASE study support NOV03 as a potential new treatment option for patients with DED associated with MGD, and we look forward to learning the results from both of the Phase 3 studies," said Christian Roesky, Ph.D., CEO, Novaliq GmbH.

    About NOV03 (perfluorohexyloctane) Ophthalmic Solution

    NOV03 is an investigational, proprietary, water-free and preservative-free solution, based on patented EyeSol® technology from Novaliq GmbH.2 In 2019, Bausch Health and Bausch + Lomb acquired an exclusive license for the commercialization and development of NOV03 in the United States and Canada, and together, they announced in November 2020 that they have initiated the second of two Phase 3 studies to evaluate NOV03.

    About Novaliq

    Novaliq is a pharmaceutical company focusing on the development and commercialization of first- and best-in-class ocular therapeutics based on EyeSol®, the worldwide first water-free technology. Novaliq offers an industry-leading portfolio addressing today's unmet medical needs of millions of patients with eye diseases. Novaliq GmbH is headquartered in Heidelberg, Germany and Novaliq Inc. has an office in Cambridge, MA, USA. The long-term shareholder is dievini Hopp BioTech holding GmbH & Co. KG, an active investor in Life and Health Sciences companies. More on www.novaliq.com.

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit www.bausch.com.  

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at http://www.bauschhealth.com/.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    References

    1. Tauber J, Wirta DL, Sall K, Majmudar PA, Willen D, Krösser S; SEECASE study group. A Randomized Clinical Study (SEECASE) to Assess Efficacy, Safety, and Tolerability of NOV03 for Treatment of Dry Eye Disease. Cornea. 2020 Dec 22; Publish Ahead of Print.

    2. In December 2019, Bausch Health acquired the rights from Novaliq GmbH to pursue development and commercialization of NOV03 for DED and combination products based on NOV03 in additional ophthalmic indications in the United States and Canada.

    Any product/brand names and/or logos are trademarks of the respective owners. © 2021 Bausch & Lomb Incorporated or its affiliates. NPR.0025.USA.21

    Novaliq Media Contact:

    Simone Angstmann-Mehr

      



     

     

     

    Bausch Health Investor Contact:

    Arthur Shannon

     

    (514) 865-3855

    (877) 281-6642 (toll free)



    Bausch Health Media Contact:

    Lainie Keller

     

    (908) 927-1198

     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

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    SOURCE Bausch Health Companies Inc.

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  14. LAVAL, QC, Jan. 12, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") will provide a preliminary update on its fourth-quarter and full-year 2020 financial results and the continued pace of its business recovery from the COVID-19 pandemic tomorrow, Jan. 13, 2021, during a fireside chat at 10 a.m. ET at the 39th Annual J.P. Morgan Healthcare Conference.

    Bausch Health expects its revenue in the fourth quarter of 2020 will be greater than $2.20 billion. For the full year of 2020, the Company anticipates it will outperform the high end of its latest revenue guidance range of $7.80 – $8.00 billion.1 

    "Bausch Health's preliminary fourth-quarter and full-year 2020 financial results demonstrate that our Company…

    LAVAL, QC, Jan. 12, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") will provide a preliminary update on its fourth-quarter and full-year 2020 financial results and the continued pace of its business recovery from the COVID-19 pandemic tomorrow, Jan. 13, 2021, during a fireside chat at 10 a.m. ET at the 39th Annual J.P. Morgan Healthcare Conference.

    Bausch Health expects its revenue in the fourth quarter of 2020 will be greater than $2.20 billion. For the full year of 2020, the Company anticipates it will outperform the high end of its latest revenue guidance range of $7.80 – $8.00 billion.1 

    "Bausch Health's preliminary fourth-quarter and full-year 2020 financial results demonstrate that our Company is continuing its business recovery from the effects of the COVID-19 pandemic driven by strong execution across our businesses. For the full year of 2020, we anticipate our revenue will outperform the high end of our latest revenue guidance range, and we also expect a strong finish to the year with regard to Adjusted EBITDA (non-GAAP)," said Joseph C. Papa, chairman and CEO, Bausch Health. "We look forward to releasing our full financial results for the fourth quarter and full year of 2020 next month."

    Additionally, due to strong cash flow in the fourth quarter of 2020, Bausch Health expects to exceed $1 billion in cash generated from operations for the full year of 2020. In total, the Company repaid approximately $900 million of debt in 2020 from cash generated from operations and more efficient cash management, and has no debt maturities or mandatory amortization payments until 2024.

    Bausch Health Will Publish Company Update Presentation on Jan. 13, 2021 at 7:00 a.m. ET

    Bausch Health will publish a brief company update presentation tomorrow, Jan. 13, 2021, at 7 a.m. ET, that is designed to complement the remarks provided by management at the 39th Annual J.P. Morgan Healthcare Conference. The presentation will provide an overview of the Company's recent performance and offer insight into future catalysts for 2021 and beyond.

    The presentation will be available on the Investor Relations page of the Bausch Health Companies Inc. website at: https://ir.bauschhealth.com/events-and-presentations/2021. A live webcast and audio archive of the fireside chat will also be available on the Investor Relations page of the Company's website.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release contains forward-looking information and statements, within the meaning of applicable securities laws (collectively, "forward-looking statements"), including, but not limited to, statements related to the Company's preliminary update on fourth-quarter 2020 and full-year 2020 financial results (including anticipated range of revenue and expectations regarding adjusted EBITDA) and expected cash generated from operations. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions, and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result, and similar such expressions also identify forward-looking information. These forward-looking statements, including the Company's preliminary update on its 2020 financial results, are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs, and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Company's most recent annual and quarterly reports and detailed from time to time in the Company's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which risks and uncertainties are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic. In addition, certain material factors and assumptions have been applied in making these forward-looking statements, including, without limitation, assumptions regarding our 2020 full-year guidance with respect to expectations regarding base performance and management's belief regarding the impact of the COVID-19 pandemic and associated responses on such base performance and the operations and financial results of the Company generally, and the assumption that the risks and uncertainties outlined above will not cause actual results or events to differ materially from those described in these forward-looking statements. The Company believes that the material factors and assumptions reflected in these forward-looking statements are reasonable in the circumstances, but readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    1 Based on guidance reaffirmed in November 2020.

    Investor Contact:

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    Arthur Shannon

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  15. LAVAL, QC, Jan. 6, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) today announced that Joseph C. Papa, chairman and chief executive officer, is scheduled to participate at the 39th Annual J.P. Morgan Healthcare Conference on Wednesday, Jan. 13, 2021 at 10:00 a.m. ET.

    A live webcast and audio archive of the event will be available on the Investor Relations page of the Bausch Health Companies Inc. website at: https://ir.bauschhealth.com/events-and-presentations/2021.

    About Bausch Health
    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily…

    LAVAL, QC, Jan. 6, 2021 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) today announced that Joseph C. Papa, chairman and chief executive officer, is scheduled to participate at the 39th Annual J.P. Morgan Healthcare Conference on Wednesday, Jan. 13, 2021 at 10:00 a.m. ET.

    A live webcast and audio archive of the event will be available on the Investor Relations page of the Bausch Health Companies Inc. website at: https://ir.bauschhealth.com/events-and-presentations/2021.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Investor Contact:                              

    Media Contact:

    Arthur Shannon                                    

    Lainie Keller

         

    (514) 856-3855                                      

    (908) 927-1198

    (877) 281-6642 (toll free) 



     

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  16. LAVAL, QC, Dec. 30, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced that the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products in Poland has granted an additional new indication for DEXAVEN (dexamethasone phosphate) solution for injection, 4 mg/ml, for the treatment of COVID-19 in adult and adolescent patients (12 years of age and older weighing at least 40 kg) who require oxygen therapy. DEXAVEN is a corticosteroid that reduces inflammation. 

    "We're pleased that Poland's Office for Registration of Medicinal Products, Medical Devices and Biocidal Products has approved DEXAVEN for the treatment of symptoms due to COVID-19, because now patients in Poland have another…

    LAVAL, QC, Dec. 30, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced that the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products in Poland has granted an additional new indication for DEXAVEN (dexamethasone phosphate) solution for injection, 4 mg/ml, for the treatment of COVID-19 in adult and adolescent patients (12 years of age and older weighing at least 40 kg) who require oxygen therapy. DEXAVEN is a corticosteroid that reduces inflammation. 

    "We're pleased that Poland's Office for Registration of Medicinal Products, Medical Devices and Biocidal Products has approved DEXAVEN for the treatment of symptoms due to COVID-19, because now patients in Poland have another treatment option to fight this virus," said Thomas J. Appio, president, Bausch + Lomb/International, Bausch Health. "Bausch Health continues to evaluate our health care products and medicines around the world to determine if they may offer valuable treatment options for COVID-19, and we will continue to do what we can to assist in the global efforts to end the pandemic."

    Dexamethasone-containing products in the United States are not approved as a treatment for COVID-19 by the U.S. Food and Drug Administration. Patients should only use these products in accordance with their approved label and the directions of their doctor.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)



     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

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  17. No Debt Maturities or Mandatory Amortization Payments Will Be Due Until 2024

    Bausch Health Will Repay Approximately $900 Million of Debt in 2020

    LAVAL, QC, Dec. 29, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") today announced that on Dec. 31, 2020 it will pay down an additional $275 million of its senior secured term loans using cash on hand and cash generated from operations. Following this repayment, the Company will have no debt maturities or mandatory amortization payments until 2024.

    Bausch Health's total debt repayment in the fourth quarter of 2020 will be approximately $480 million. For the full year of 2020, the Company will repay a total of approximately $900 million of debt from cash…

    No Debt Maturities or Mandatory Amortization Payments Will Be Due Until 2024

    Bausch Health Will Repay Approximately $900 Million of Debt in 2020

    LAVAL, QC, Dec. 29, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") today announced that on Dec. 31, 2020 it will pay down an additional $275 million of its senior secured term loans using cash on hand and cash generated from operations. Following this repayment, the Company will have no debt maturities or mandatory amortization payments until 2024.

    Bausch Health's total debt repayment in the fourth quarter of 2020 will be approximately $480 million. For the full year of 2020, the Company will repay a total of approximately $900 million of debt from cash on hand and cash generated from operations.

    "Our businesses around the world continue to recover from the impacts of the COVID-19 pandemic, and that contributed to strong cash flow in the fourth quarter. With the repayment we are announcing today, Bausch Health's total debt repayments for the full year of 2020 will be approximately $900 million," said Joseph C. Papa, chairman and CEO, Bausch Health. "Our commercial teams showed remarkable resiliency through these challenging times, reducing expenses and conserving cash, but still finding ways to drive Bausch Health's recovery. Those efforts enabled us to continue to make progress reducing our debt in 2020."

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Caution Regarding Forward-Looking Information and "Safe Harbor" Statement

    This news release may contain forward-looking statements, including, but not limited to, our debt repayment plans. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company's most recent annual and quarterly reports and detailed from time to time in the Company's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on the Company, including but not limited to its supply chain, third-party suppliers, project development timelines, employee base, liquidity, stock price, financial condition and costs (which may increase) and revenue and margins (both of which may decrease). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    Investor Contact:                 

    Media Contact:

    Arthur Shannon                       

    Lainie Keller

        

    (514) 856-3855                                     

    (908) 927-1198

    (877) 281-6642 (toll free)



     

    (PRNewsfoto/Valeant Pharmaceuticals Interna)

     

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    • PrVYZULTA® Added Under British Columbia, North West Territories, the Yukon and Veteran Affairs Plans

    LAVAL, QC, Dec. 1, 2020 /CNW/ - Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (NYSE/TSX: BHC), announced that PrVYZULTA® (latanoprostene bunod ophthalmic solution, 0.024% w/w), which is indicated for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertensioni, now has expanded public drug program reimbursement in Canada in the jurisdictions of British Columbia, North West Territories, the Yukon and Veteran Affairs.

    These provinces join Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Newfoundland and Labrador and the federal Non-Insured Health Benefits (NIHB) program which made VYZULTA available to patients at various points from December 2019 to December 2020. PEI is in the final stages of their review process, while Quebec is the last remaining province to seek to increase access for Vyzulta for its patient population. Affecting over 400,000 Canadians, glaucoma is a disease of the optic nerve and the leading cause of blindness in North America.ii



    "We are pleased that VYZULTA, a new treatment option that can help patients manage the potentially life-altering condition of glaucoma and possibly preserve eyesight has been recognized by most Canadian provinces and the federal government are increasing access to VYZULTA for the benefit of patients and the health care system," said Richard Lajoie, president and general manager, Bausch Health, Canada. "Bausch + Lomb is proud to continue to live its mission to  help Canadians live better by enabling them to see better with our health care products."

    VYZULTA has a dual mechanism of action for lowering intraocular pressure by increasing outflow of aqueous humor through both uveoscleral and trabecular meshwork routes.i VYZULTA is to be administered once daily.

    "VYZULTA is the first prostaglandin analog with a Nitric Oxide (NO) releasing metabolite and reduces IOP by increasing outflow through both the trabecular meshwork and the uveoscleral pathways," said Dr. Steven Schendel, (MD, FRCSC). "I am pleased to have this innovative therapy for treatment of open angle glaucoma or ocular hypertension, which is now accessible to patients on public drug plans in British Columbia."

    For Canadians, glaucoma is one of the leading causes of irreversible blindness.iii Glaucoma is defined as a group of eye diseases that slowly and progressively affect the optic nerve,v which can lead to irreversible vision loss. Open-angle glaucoma is the most common form of the disease and is associated with elevated pressure caused by a backup of fluid in the eye.iv

    "For patients to have advanced standard of care for glaucoma, they need to have access to innovative treatments such as VYZULTA on public formularies," said Doug Earle, president & CEO, Fighting Blindness Canada. "Governments of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Newfoundland and Labrador, the North West Territories, the Yukon and the federal government, through the Non-Insured Health Benefits and Veteran Affairs programs are showing their commitment to glaucoma patients by making Vyzulta available to patients on public formularies. On behalf of the constituents of Fighting Blindness Canada, I am heartened to see that most provinces and jurisdictions are supporting people living with open-angle glaucoma and now have access to another treatment option that they can discuss with their optometrist or ophthalmologist."

    VYZULTA received its Notice of Compliance (NOC) from Health Canada on Dec. 27, 2018 and is currently covered by most private insurance plans in Canada.

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see better to live better. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit Bausch.ca.

    About Bausch Health 

    Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health.

    In Canada, our areas of focus include eye health, dermatology and cardio metabolic. More information can be found at BauschHealth.ca

    _______________________

    i 

    PrVyzulta® Product Monograph, dated December 27, 2018.

    ii 

    CADTH Common Drug Review - Patient Input. Latanorpostene Bunod (Vyzulta). December 12, 2018. https://www.cadth.ca/sites/default/files/cdr/relatedinfo/SR0590%20Vyzulta%20-%20Patient%20Group%20Input_January%208%2C%202019.pdf Accessed: November 6, 2020

    iii 

    Quigley HA, Broman AT. The number of people with glaucoma worldwide in 2010 and 2020. British Journal of Ophthalmology. 2006;90(3):262v Horton JC. Disorders of the Eye. In: Kasper D, Fauci A, Hauser S, Longo D, Jameson JL, Loscalzo J, eds. Harrison's Principles of Internal Medicine, 19e. New York, NY: McGraw-Hill Education; 2015.

    iv 

    Canadian Ophthalmological Society Glaucoma Clinical Practice Guideline Expert Committee; Canadian Ophthalmological Society. Canadian Ophthalmological Society evidence-based clinical practice guidelines for the management of glaucoma in the adult eye. Can J Ophthalmol. 2009;44 Suppl 1:S7-S93. 

     

    SOURCE Bausch + Lomb Canada

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  18. LAVAL, Quebec, Nov. 24, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") and Bausch + Lomb, its leading global eye health business, announced today that the Company has initiated the second of two Phase 3 studies evaluating the investigational treatment NOV03 (perfluorohexyloctane) as a first-in-class investigational drug with a novel mechanism of action to treat the signs and symptoms of Dry Eye Disease (DED) associated with Meibomian gland dysfunction (MGD). Enrollment of the first Phase 3 study is currently underway and has reached 85% of its enrollment goal.

    NOV03 is an investigational, proprietary, water-free and preservative-free solution, based on patented EyeSol® technology from Novaliq GmbH…

    LAVAL, Quebec, Nov. 24, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") and Bausch + Lomb, its leading global eye health business, announced today that the Company has initiated the second of two Phase 3 studies evaluating the investigational treatment NOV03 (perfluorohexyloctane) as a first-in-class investigational drug with a novel mechanism of action to treat the signs and symptoms of Dry Eye Disease (DED) associated with Meibomian gland dysfunction (MGD). Enrollment of the first Phase 3 study is currently underway and has reached 85% of its enrollment goal.

    NOV03 is an investigational, proprietary, water-free and preservative-free solution, based on patented EyeSol® technology from Novaliq GmbH1. DED is a chronic and serious disease of the ocular surface2. In a Phase 2 study of 336 patients, NOV03 met its primary efficacy endpoint of statistically significant improvement of total corneal fluorescein staining over control at eight weeks. In addition, NOV03 showed statistically significant improvement of certain symptoms, such as severity and frequency of dryness and burning/stinging of the eyes, over the entire duration of the Phase 2 study with no notable safety events.

    "Bausch + Lomb, our global eye health business, is focused on researching and bringing forward new options for unmet medical needs, including Dry Eye Disease associated with MGD. It's estimated that more than 16 million Americans suffer from Dry Eye Disease3, and if approved, NOV03 may be the first pharmaceutical therapy available for U.S. patients who have Dry Eye Disease associated with MGD," said Joseph C. Papa, chairman and CEO of Bausch Health.

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately more than 100 countries. For more information, visit www.bausch.com.



    About Bausch Health 

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    © 2020 Bausch & Lomb Incorporated or its affiliates.


    1 In December 2019, Bausch Health acquired the rights from Novaliq GmbH to pursue development and commercialization of NOV03 for DED and combination products based on NOV03 in additional ophthalmic indications in the United States and Canada.

    2 Lemp et al. Distribution of Aqueous-Deficient and Evaporative Dry Eye in a Clinic-Based Patient Cohort: A Retrospective Study. Cornea. 2012;31:472–478.

    3 Farrand et al. Prevalence of Diagnosed Dry Eye Disease in the United States Among Adults Aged 18 Years and Older. Am J Ophthalmol 2017; 182:90–98.

     

    Investor Contact:                                  





    Media Contact:

    Arthur Shannon                                           





    Lainie Keller

                    





    (514) 856-3855                                





    (908) 927-1198

    (877) 281-6642 (toll free)







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  19. Following Redemptions, Bausch Health Will Have No Note Maturities Until 2024 

    LAVAL, QC, Nov. 18, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") announced today that it has priced and upsized its previously announced offering of $1.0 billion aggregate principal amount of 5.000% senior notes due 2029 (the "2029 Notes") and $1.0 billion aggregate principal amount of 5.250% senior notes due 2031 (the "2031 Notes" and, together with the 2029 Notes, the "Notes"). The size of the offering reflects an increase of $250 million from the previously announced offering size of $1.75 billion. The 2029 Notes will be sold to investors at a price of 100% of the principal amount thereof, and the 2031 Notes will…

    Following Redemptions, Bausch Health Will Have No Note Maturities Until 2024 

    LAVAL, QC, Nov. 18, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") announced today that it has priced and upsized its previously announced offering of $1.0 billion aggregate principal amount of 5.000% senior notes due 2029 (the "2029 Notes") and $1.0 billion aggregate principal amount of 5.250% senior notes due 2031 (the "2031 Notes" and, together with the 2029 Notes, the "Notes"). The size of the offering reflects an increase of $250 million from the previously announced offering size of $1.75 billion. The 2029 Notes will be sold to investors at a price of 100% of the principal amount thereof, and the 2031 Notes will be sold to investors at a price of 100% of the principal amount thereof.

    The proceeds from the offering of the Notes, along with cash on hand, are expected to be used to fund the Company's (i) previously announced conditional redemption (the "Euro Redemption") in full of its outstanding €1.5 billion aggregate principal amount of 4.50% Senior Notes due 2023 (the "Euro Notes") and (ii) conditional redemption (the "5.50% Redemption") in full of its outstanding $233 million aggregate principal amount of 5.50% Senior Notes due 2023 (the "5.50% Notes" and, together with the Euro Notes, the "Existing Notes"), and to pay related fees and expenses. With these redemptions, Bausch Health will have no note maturities until 2024.

    The Notes will be guaranteed by each of the Company's subsidiaries that are guarantors under the Company's credit agreement and existing senior notes. Consummation of the offering of the Notes is subject to various closing conditions.

    The Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Notes will be offered in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The Notes have not been and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada will be made on a basis, which is exempt from the prospectus requirements of such securities laws.

    This announcement does not constitute a notice of redemption with respect to the Existing Notes. The Euro Redemption is conditioned upon the completion by the Company or its subsidiaries of one or more debt financings in an aggregate principal amount of at least $1.75 billion, which the Company expects to satisfy upon closing of the offering of the Notes.

    The Company also announced that it has issued today a conditional notice of redemption to redeem the full aggregate principal amount of outstanding 5.50% Notes. The 5.50% Redemption will be conditioned upon the completion by the Company or its subsidiaries of one or more debt financings in an aggregate principal amount of at least $2.0 billion (the "5.50% Condition"), which the Company expects to satisfy upon closing of the offering of the Notes.

    A copy of the conditional notice of redemption with respect to the 5.50% Notes has been issued to the record holders of the 5.50% Notes. Payment of the redemption price and surrender of the 5.50% Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company on Dec. 18, 2020, unless the 5.50% Condition is not satisfied, in which case the redemption date will be delayed until the 5.50% Condition is satisfied. The name and address of the paying agent are as follows: The Bank of New York Mellon Trust Company, N.A., c/o The Bank of New York Mellon; 111 Sanders Creek Parkway, East Syracuse, N.Y. 13057; Attn: Redemption Unit; Tel: (800) 254- 2826.

    This news release is being issued pursuant to Rule 135c under the Securities Act and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health.

    Forward-looking Statements

    This news release may contain forward-looking statements, including, but not limited to, our financing plans, including the offering of the Notes and the details thereof, including the proposed use of proceeds therefrom and other expected effects of the offering of the Notes. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on the Company, including but not limited to its supply chain, third-party suppliers, project development timelines, employee base, liquidity, stock price, financial condition and costs (which may increase) and revenue and margins (both of which may decrease), other risks related to our business, including risks related to our pending legal and governmental proceedings, legislative and policy efforts, actions by the U.S. Food and Drug Administration and other regulators, our substantial debt, uncertainties associated with acquisitions and product launches, and risks and uncertainties discussed in our most recent annual and quarterly reports and detailed from time to time in our other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which risks and uncertainties are incorporated herein by reference. Management has also made certain assumptions in assessing the anticipated impacts of the COVID-19 pandemic on the Company and its results of operations and financial conditions, including: that there will be no material restrictions on access to health care products and services resulting from a possible resurgence of the virus on a global basis in the fourth quarter of 2020; that the strict social restrictions seen earlier this year will not be materially re-enacted in the event of a material resurgence of the virus; that there will be an ongoing gradual global recovery as the macroeconomic and health care impacts of the COVID-19 pandemic run their course; that the largest impact to the Company's businesses were seen in the second quarter of 2020 although we expect additional COVID-19 pandemic related declines in the year-over-year revenues in the remainder of 2020 in many of our businesses and geographies; anticipate that our affected businesses could possibly return to pre-pandemic levels as early as late 2020 or in 2021, but that rates of recovery will vary by geography and business unit, with some regions and business units expected to lag in recovery possibly beyond 2021; and no major interruptions in the Company's supply chain and distribution channels. If any of these assumptions regarding the impacts of the COVID-19 pandemic are incorrect, our actual results could differ materially from those described in these forward-looking statements. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, except as required by law.

    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

     

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)



     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/bausch-health-announces-pricing-and-upsize-of-private-offering-of-senior-notes-and-conditional-redemption-of-additional-series-of-existing-senior-notes-301176493.html

    SOURCE Bausch Health Companies Inc.

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  20. LAVAL, QC, Nov. 18, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") announced today that it has launched an offering of a combined $1.75 billion aggregate principal amount of new senior notes due 2029 (the "2029 Notes") and new senior notes due 2031 (the "2031 Notes" and, together with the 2029 Notes, the "Notes"). Bausch Health intends to use the proceeds from the offering of the Notes, along with cash on hand, to fund the conditional redemption (the "Redemption") in full of its outstanding €1.5 billion aggregate principal amount of 4.50% Senior Notes due 2023 (the "Existing Notes") and to pay related fees and expenses.

    The Notes will be guaranteed by each of the Company's subsidiaries that are…

    LAVAL, QC, Nov. 18, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") announced today that it has launched an offering of a combined $1.75 billion aggregate principal amount of new senior notes due 2029 (the "2029 Notes") and new senior notes due 2031 (the "2031 Notes" and, together with the 2029 Notes, the "Notes"). Bausch Health intends to use the proceeds from the offering of the Notes, along with cash on hand, to fund the conditional redemption (the "Redemption") in full of its outstanding €1.5 billion aggregate principal amount of 4.50% Senior Notes due 2023 (the "Existing Notes") and to pay related fees and expenses.

    The Notes will be guaranteed by each of the Company's subsidiaries that are guarantors under the Company's credit agreement and existing senior notes.

    The Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Notes will be offered in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The Notes have not been and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada will be made on a basis, which is exempt from the prospectus requirements of such securities laws.

    The Company also announced that it intends to issue a conditional notice of redemption today to redeem the full aggregate principal amount of outstanding Existing Notes. The Redemption will be conditioned upon the completion by the Company or its subsidiaries of one or more debt financings in an aggregate principal amount of at least $1.75 billion (the "Condition").

    A copy of the conditional notice of redemption with respect to the Existing Notes will be issued to the record holders of the Existing Notes. Payment of the redemption price and surrender of the Existing Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company on Dec. 18, 2020, unless the Condition is not satisfied, in which case the redemption date will be delayed until the Condition is satisfied. The name and address of the paying agent are as follows: The Bank of New York Mellon Trust Company, N.A., c/o The Bank of New York Mellon; 111 Sanders Creek Parkway, East Syracuse, N.Y. 13057; Attn: Redemption Unit; Tel: (800) 254- 2826.

    The foregoing transactions are subject to market and other conditions and are anticipated to close in the fourth quarter of 2020. However, there can be no assurance that the Company will be able to successfully complete the transactions, on the terms described above, or at all.

    This news release is being issued pursuant to Rule 135c under the Securities Act and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health.

    Forward-looking Statements

    This news release may contain forward-looking statements, including, but not limited to, our financing plans, including the offering of the Notes and the details thereof, including the proposed use of proceeds therefrom and other expected effects of the offering of the Notes. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on the Company, including but not limited to its supply chain, third-party suppliers, project development timelines, employee base, liquidity, stock price, financial condition and costs (which may increase) and revenue and margins (both of which may decrease), other risks related to our business, including risks related to our pending legal and governmental proceedings, legislative and policy efforts, actions by the U.S. Food and Drug Administration and other regulators, our substantial debt, uncertainties associated with acquisitions and product launches, and risks and uncertainties discussed in our most recent annual and quarterly reports and detailed from time to time in our other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which risks and uncertainties are incorporated herein by reference. Management has also made certain assumptions in assessing the anticipated impacts of the COVID-19 pandemic on the Company and its results of operations and financial conditions, including: that there will be no material restrictions on access to health care products and services resulting from a possible resurgence of the virus on a global basis in the fourth quarter of 2020; that the strict social restrictions seen earlier this year will not be materially re-enacted in the event of a material resurgence of the virus; that there will be an ongoing gradual global recovery as the macroeconomic and health care impacts of the COVID-19 pandemic run their course; that the largest impact to the Company's businesses were seen in the second quarter of 2020 although we expect additional COVID-19 pandemic related declines in the year-over-year revenues in the remainder of 2020 in many of our businesses and geographies; anticipate that our affected businesses could possibly return to pre-pandemic levels as early as late 2020 or in 2021, but that rates of recovery will vary by geography and business unit, with some regions and business units expected to lag in recovery possibly beyond 2021; and no major interruptions in the Company's supply chain and distribution channels. If any of these assumptions regarding the impacts of the COVID-19 pandemic are incorrect, our actual results could differ materially from those described in these forward-looking statements. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, except as required by law.

    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)         



     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

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    SOURCE Bausch Health Companies Inc.

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  21. LAVAL, Quebec, Nov. 16, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") and Bausch + Lomb, its leading global eye health business, today announced the results of new investigational in vitro data showing that two benzalkonium chloride (BAK) preserved eye drops, LUMIFY® (brimonidine tartrate ophthalmic solution 0.025%) redness reliever eye drops and BESIVANCE® (besifloxacin ophthalmic suspension) 0.6%, indicated complete inactivation of Severe Acute Respiratory Syndrome-related Coronavirus 2 (SARS-CoV-2 or COVID-19). These data were presented at the 2020 Ocular Microbiology and Immunology Group 54th Annual Meeting that took place virtually on Friday, Nov. 13, 2020.

    "Our team presented investigational data that evaluated…

    LAVAL, Quebec, Nov. 16, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") and Bausch + Lomb, its leading global eye health business, today announced the results of new investigational in vitro data showing that two benzalkonium chloride (BAK) preserved eye drops, LUMIFY® (brimonidine tartrate ophthalmic solution 0.025%) redness reliever eye drops and BESIVANCE® (besifloxacin ophthalmic suspension) 0.6%, indicated complete inactivation of Severe Acute Respiratory Syndrome-related Coronavirus 2 (SARS-CoV-2 or COVID-19). These data were presented at the 2020 Ocular Microbiology and Immunology Group 54th Annual Meeting that took place virtually on Friday, Nov. 13, 2020.

    "Our team presented investigational data that evaluated the in vitro antiviral activity of LUMIFY and BESIVANCE against SARS-CoV-2, and the results indicated complete inactivation of the virus," said Joseph C. Papa, chairman and CEO, Bausch Health. "The clinical relevance of this in vitro data is not known, and our intention is to further review these data to determine next steps, including potential discussions with regulatory agencies around the world."

    In the study, researchers evaluated the in vitro antiviral activity of LUMIFY and BESIVANCE against SARS-CoV-2 using a Vero E-6 host-cell system. Both LUMIFY and BESIVANCE contain 0.01% BAK, a quaternary ammonium compound commonly used as a preservative in ophthalmic topical solutions. The activity of BAK against SARS-CoV-2 is not well understood.

    Time kill testing of SARS-CoV-2 cultures was conducted by multiple dosing of each formulation at contact times representative of those recommended in the Instructions for Use in both products. All tests were conducted in triplicate and in accordance with ASTM E1052-20, suspension time-kill test for virus standard practices. Following the required contact time, test solutions were neutralized, serially diluted and inoculated onto the Vero E6 host-cell system. Test samples were incubated with the Vero E6 host-cells and after 4-9 days, the presence of residual viable virus was scored.

    The results indicated complete inactivation of SARS-CoV-2 virus at all contact times. Log10 reductions for LUMIFY were ≥1.80, ≥2.14 and ≥2.02 at 8-hour, 24-hour and 72-hour contact times, respectively, and Log10 reductions for BESIVANCE were ≥1.95 and ≥2.56 at the 24-hour and 72-hour contact times, respectively. The clinical relevance of these in vitro findings is not known.

    Neither LUMIFY nor BESIVANCE have been proven to prevent or treat COVID-19 in humans nor have they been approved for those uses by the U.S. Food and Drug Administration (FDA). Consumers and patients should only use these products in accordance with their directions for use and the directions of their doctor.

    About LUMIFY (brimonidine tartrate ophthalmic solution 0.025%) Redness Reliever Eye Drops

    LUMIFY is the first and only over-the-counter eye drops developed with low dose brimonidine tartrate 0.025% for the relief of redness of the eye due to minor irritations. Unlike other redness relievers, LUMIFY selectively targets redness, with a reduced risk of certain side effects, including rebound redness and loss of efficacy over time, when used as directed. For more information on LUMIFY, visit www.lumifydrops.com.

    Indication and Important Safety Information for BESIVANCE (besifloxacin ophthalmic suspension) 0.6%

    Indication

    BESIVANCE (besifloxacin ophthalmic suspension) 0.6% is a quinolone antimicrobial indicated for the treatment of bacterial conjunctivitis caused by susceptible isolates of the following bacteria: Aerococcus viridans*, CDC coryneform group G, Corynebacterium pseudodiphtheriticum*, Corynebacterium striatum*, Haemophilus influenzae, Moraxella catarrhalis*, Moraxella lacunata*, Pseudomonas aeruginosa*, Staphylococcus aureus, Staphylococcus epidermidis, Staphylococcus hominis*, Staphylococcus lugdunensis*, Staphylococcus warneri*, Streptococcus mitis group, Streptococcus oralis, Streptococcus pneumoniae, Streptococcus salivarius*

    *Efficacy for this organism was studied in fewer than 10 infections.

    Important Safety Information

    • BESIVANCE is not for injection into the eye.
    • As with other anti-infectives, prolonged use of BESIVANCE may result in overgrowth of non-susceptible organisms, including fungi. If super-infection occurs, discontinue use and institute alternative therapy.
    • Patients should not wear contact lenses if they have signs or symptoms of bacterial conjunctivitis or during the course of therapy with BESIVANCE.
    • The most common adverse event reported in approximately 2% of patients treated with BESIVANCE was conjunctival redness. Other adverse events reported in patients receiving BESIVANCE occurring in approximately 1-2% of patients included: blurred vision, eye pain, eye irritation, eye pruritus and headache.
    • Safety and effectiveness in infants below one year of age have not been established.

    Click here for full Prescribing Information for BESIVANCE.

    You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088.

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit www.bausch.com.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Bausch Health Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    LUMIFY and BESIVANCE are trademarks of Bausch & Lomb Incorporated or its affiliates. Any other product/brand names are trademarks of the respective owners. © 2020 Bausch & Lomb Incorporated or its affiliates.

    Investor Contact:   

    Media Contact:

    Arthur Shannon  

    Lainie Keller

      

    (514) 856-3855 

    (908) 927-1198

    (877) 281-6642 (toll free)  



     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

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    SOURCE Bausch Health Companies Inc.

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    • Epsolay® PDUFA goal date set for April 26, 2021

    • Twyneo® New Drug Application submitted to the U.S. FDA

    • Top-line generic product revenue of $2.1 million in 3Q 2020

    • In October 2020, signed an 11th generic product collaboration agreement with Perrigo

    NESS ZIONA, Israel, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Sol-Gel Technologies, Ltd. (NASDAQ:SLGL), a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases, today announced financial results for the third quarter ended September 30, 2020 and provided clinical and regulatory updates on its programs.

    "The third quarter was highlighted by a major achievement for Sol-Gel, as our first New Drug Application…

    • Epsolay® PDUFA goal date set for April 26, 2021



    • Twyneo® New Drug Application submitted to the U.S. FDA



    • Top-line generic product revenue of $2.1 million in 3Q 2020



    • In October 2020, signed an 11th generic product collaboration agreement with Perrigo

    NESS ZIONA, Israel, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Sol-Gel Technologies, Ltd. (NASDAQ:SLGL), a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases, today announced financial results for the third quarter ended September 30, 2020 and provided clinical and regulatory updates on its programs.

    "The third quarter was highlighted by a major achievement for Sol-Gel, as our first New Drug Application (NDA) for Epsolay for the treatment of inflammatory lesions of rosacea was accepted by the Federal Drug Administration (FDA) with a Prescription Drug User Fee Act (PDUFA) goal date set for April 26, 2021. We now look forward to the NDA acceptance of our second proprietary product, Twyneo, for the treatment of acne vulgaris," commented Dr. Alon Seri-Levy, Chief Executive Officer of Sol-Gel. "Also, after the close of the third quarter, we expanded our collaboration with Perrigo to develop an eleventh generic product candidate. While we are successfully expanding our partnership with Perrigo, we continue to focus on our own branded product candidates, Epsolay and Twyneo. We are working towards commercializing both treatments, if approved, in 2021, either on our own or with a partner that has a significant U.S. dermatology presence."

    Corporate Highlights and Recent Developments

    • Sol-Gel announced FDA acceptance of NDA for Epsolay (benzoyl peroxide, 5%, cream) with a PDUFA goal date set for April 26, 2021. If approved, Epsolay has the potential to be the first FDA-approved, single-agent benzoyl peroxide prescription drug product for the treatment of inflammatory lesions of rosacea.
    • Sol-Gel submitted an NDA for Twyneo (benzoyl peroxide, 3%, and tretinoin, 0.1%, cream) to the FDA in the beginning of October. If approved, Twyneo has the potential to be the first FDA-approved acne treatment that contains fixed-dose combination of benzoyl peroxide and tretinoin.
    • Sol-Gel was informed by its collaboration partner that the launch of an FDA-approved generic drug is expected in the second quarter of 2021. Annual sales of the brand name product exceeded $180 million in the United States in 2019.
    • Bausch Health Companies, Inc. (NYSE:BHC) initiated patent infringement action in the U.S. District Court for the District of New Jersey on August 31, 2020 regarding Perrigo Company plc's (NYSE; TASE: PRGO) Abbreviated New Drug Application (ANDA) for a generic version of Duobrii® (halobetasol propionate and tazarotene) lotion, a product in which Sol-Gel and Perrigo previously entered into a collaboration agreement. In July 2020, Perrigo filed first-to-file Paragraph IV Certification for Duobrii®.
    • In preparation for commercial launch of proprietary products, and as part of Sol-Gel's go-to-market strategy, the Company has opened a US headquarters in Whippany, NJ.
    • In October 2020, Sol-Gel signed an additional collaboration agreement with Perrigo for the development, manufacturing and commercialization of a new generic product candidate, the eleventh product collaboration between the companies.
    • The enrollment of patients in the Phase 1 proof-of-concept study with SGT-210, a novel, topical, epidermal growth factor receptor inhibitor in patients with punctate palmoplantar keratoderma has been affected by the COVID-19 pandemic. The Company expects to be able to provide an update regarding the timing of top-line results by year-end.
    • Pre-clinical testing of tapinarof, an aryl hydrocarbon receptor (AhR) agonist, and roflumilast, a phosphodiesterase 4 (PDE4) inhibitor, is progressing for various, new dermatological indications. The Company is also conducting pre-clinical studies in psoriasis to compare the tapinarof/roflumilast combination to each individual active ingredient. A total of 24 provisional patent applications for these projects have been submitted to date. 

    Financial Results for the Three Months ended September 30, 2020

    Revenue in the third quarter of 2020 was $2.1 million. The revenue was mainly due to sales of a generic product from a collaboration arrangement with Perrigo. While revenue increased compared to the previous quarter, it is still adversely affected by the COVID-19 pandemic.   In addition, due to the entry of an additional generic version of Zovirax® (acyclovir) cream, 5%, marketed by Amneal Pharmaceuticals Inc., we expect revenue from our generic products to decrease until the expected launch of a second generic drug in the second quarter of 2021 as detailed above.

    Research and development expenses were $7.9 million in the third quarter of 2020 compared to $9.9 million during the same period in 2019. The decrease of $2.0 million was mainly attributed to a decrease of $5.9 million in clinical trial expenses for Epsolay and Twyneo partially offset by an increase of $3.4 million in regulatory expenses mainly related to the PDUFA fee for Twyneo.

    General and administrative expenses were $3.0 million in the third quarter of 2020 compared to $2.5 million during the same period in 2019. The increase of $0.5 million was mainly attributed to an increase of $0.4 million in commercialization expenses and of $0.1 million in patent-related expenses.

    Sol-Gel reported a loss of $8.6 million for the third quarter of 2020 compared to loss of $7.4 million for the same period in 2019.

    As of September 30, 2020, Sol-Gel had $27.4 million in cash, cash equivalents and deposits, and $29.9 million in marketable securities for a total balance of $57.3 million. Sol-Gel expects its existing cash resources will enable funding of operational and capital expenditure requirements into the third quarter of 2021.

    About Sol-Gel Technologies

    Sol-Gel is a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases. Sol-Gel leverages its proprietary microencapsulation technology platform for the development of Twyneo, under investigation for the treatment of acne vulgaris, and Epsolay, under investigation for the treatment of inflammatory lesions of rosacea. The Company's pipeline also includes SGT-210, an early-stage topical epidermal growth factor receptor inhibitor, erlotinib, under investigation for the treatment of palmoplantar keratoderma, and preclinical assets tapinarof and roflumilast. For additional information, please visit www.sol-gel.com.

    About Epsolay®

    Epsolay is an investigational topical cream containing encapsulated benzoyl peroxide, 5%, for the treatment of papulopustular rosacea. Epsolay utilizes a patented technology process to encapsulate benzoyl peroxide within silica-based microcapsules to create a barrier between the medication and the skin. The slow migration of medication from the microcapsules is designed to deliver an effective dose of benzoyl peroxide onto the skin, while reducing the ability of benzoyl peroxide to induce skin irritation, such as erythema, burning and stinging. If approved, Epsolay has the potential to be the first FDA-approved single-active benzoyl peroxide prescription drug product. Epsolay is not approved by the FDA and the safety and efficacy has not been established.

    About Papulopustular Rosacea

    Papulopustular rosacea is a chronic and recurrent inflammatory skin disorder that affects nearly 5 million Americans. The condition is common, especially in fair-skinned people of Celtic and northern European heritage. Onset is usually after age 30 and typically begins as flushing and subtle redness on the cheeks, nose, chin or forehead. If left untreated, rosacea can slowly worsen over time. As the condition progresses the redness becomes more persistent, blood vessels become visible and pimples often appear. Other symptoms may include burning, stinging, dry skin, plaques and skin thickening.

    About Twyneo®

    Twyneo is an investigational, fixed-dose combination of encapsulated benzoyl peroxide, 3%, and encapsulated tretinoin, 0.1%, cream for the treatment of acne vulgaris. If approved, it will be the first acne treatment that contains a fixed-dose combination of benzoyl peroxide and tretinoin, which are separately encapsulated in silica using Sol-Gel's proprietary microencapsulation technology. Tretinoin and benzoyl peroxide are widely prescribed separately as a combination treatment for acne; however, benzoyl peroxide causes degradation of the tretinoin molecule, thereby potentially reducing its effectiveness if used at the same time or combined in the same formulation. The silica-based microcapsule is designed to protect tretinoin from oxidative decomposition by benzoyl peroxide, thereby enhancing the stability of the active drug ingredients. The silica-based shell is also designed to release the ingredients slowly over time to provide a favorable efficacy and safety profile. Twyneo is not approved by the FDA and the safety and efficacy has not been established.

    About Acne Vulgaris

    Acne vulgaris is a common multifactorial skin disease that according to the American Academy of Dermatology affects approximately 40 to 50 million people in the United States. The disease occurs most frequently during childhood and adolescence (affecting 80% to 85% of all adolescents) but it may also appear in adults. Acne patients suffer from the appearance of lesions on areas of the body with a large concentration of oil glands, such as the face, chest, neck and back. These lesions can be inflamed (papules, pustules, nodules) or non-inflamed (comedones). Acne can have a profound effect on the quality of life of those suffering from the disease. In addition to carrying a substantial risk of permanent facial scarring, the appearance of lesions may cause psychological strain, social withdrawal and lowered self-esteem.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the PDUFA goal date for Epsolay (benzoyl peroxide, 5%, cream), the expectation that the FDA will accept the NDA for Twyneo and the timing of commercialization of Epsolay and Twyneo, expectation that revenue from our generic products will continue to decrease until the expected launch of a second FDA-approved generic drug in the second quarter of 2021. These forward-looking statements include information about possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. Forward-looking statements are based on information we have when those statements are made or our management's current expectation and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to, risks relating to the effects of COVID-19 (coronavirus) as well as the following factors: (i) the adequacy of our financial and other resources, particularly in light of our history of recurring losses and the uncertainty regarding the adequacy of our liquidity to pursue our complete business objectives; (ii) our ability to complete the development of our product candidates; (iii) our ability to find suitable co-development partners; (iv) our ability to obtain and maintain regulatory approvals for our product candidates in our target markets, the potential delay in receiving such regulatory approvals and the possibility of adverse regulatory or legal actions relating to our product candidates even if regulatory approval is obtained; (v) our ability to commercialize our pharmaceutical product candidates; (vi) our ability to obtain and maintain adequate protection of our intellectual property; (vii) our ability to manufacture our product candidates in commercial quantities, at an adequate quality or at an acceptable cost; (viii) our ability to establish adequate sales, marketing and distribution channels; (ix) acceptance of our product candidates by healthcare professionals and patients; (x) the possibility that we may face third-party claims of intellectual property infringement; (xi) the timing and results of clinical trials that we may conduct or that our competitors and others may conduct relating to our or their products; (xii) intense competition in our industry, with competitors having substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales, distribution and personnel resources than we do; (xiii) potential product liability claims; (xiv) potential adverse federal, state and local government regulation in the United States, Europe or Israel; and (xv) loss or retirement of key executives and research scientists. These and other important factors discussed in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission ("SEC") on March 24, 2020 and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. Except as required by law, we undertake no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements.



    SOL-GEL TECHNOLOGIES LTD.

    CONSOLIDATED FINANCIAL STATEMENTS

    (U.S. dollars in thousands, except share and per share data)

    (Unaudited)

     December 31,

     September 30,
     2019

     2020 
    A s s e t s      
    CURRENT ASSETS:      
    Cash and cash equivalents$9,412 $6,007
    Bank deposit -  21,400
    Marketable securities 40,966  29,875
    Receivables from collaborative arrangements 4,120  2,180
    Prepaid expenses and other current assets 1,293  1,200
    TOTAL CURRENT ASSETS 55,791  60,662
          
    NON-CURRENT ASSETS:     
    Restricted long-term deposits 472  1,285
    Property and equipment, net 2,314  2,048
    Operating lease right-of-use assets 2,040  1,658
    Funds in respect of employee rights upon retirement 684  687
    TOTAL NON-CURRENT ASSETS 5,510  5,678
          
    TOTAL ASSETS$61,301 $$66,340
    Liabilities and shareholders' equity      
    CURRENT LIABILITIES:     
    Accounts payable$1,710

     $ 1,121
    Other accounts payable         4,123

       5,469
    Current maturities of operating leases 672

       508
    TOTAL CURRENT LIABILITIES 6,505

       7,098
          
    LONG-TERM LIABILITIES -     
    Operating leases liabilities  1,373   1,105
    Liability for employee rights upon retirement  958   980
    TOTAL LONG-TERM LIABILITIES  2,331   2,085
    COMMITMENTS             
    TOTAL LIABILITIES  8,836   9,183
          
    SHAREHOLDERS' EQUITY:     
    Ordinary Shares, NIS 0.1 par value – authorized: 50,000,000 as of December 31, 2019 and September 30, 2020; issued and outstanding: 20,402,800 and 23,000,782 as of December 31, 2019 and September 30, 2020, respectively. 561   635
    Additional paid-in capital  203,977   231,397
    Accumulated deficit (152,073)  (174,875)
    TOTAL SHAREHOLDERS' EQUITY   52,465   57,157
    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY$61,301 $ 66,340

    (The amounts are stated in U.S. dollars in thousands, except share and per share data)





    SOL-GEL TECHNOLOGIES LTD.

    CONSOLIDATED STATEMENTS OF OPERATIONS

    (U.S. dollars in thousands, except share and per share data)

    (Unaudited)

     Nine months ended

    September 30

     Three months ended

    September 30
      2019  2020  2019  2020 
    COLLABORATION REVENUES$18,884 $6,714 



    $
      



    4,733
     $2,116 
    RESEARCH AND DEVELOPMENT EXPENSES 32,146  22,248  9,913  7,867 
    GENERAL AND ADMINISTRATIVE EXPENSES 5,816  8,014  2,484  3,018 
    TOTAL OPERATING LOSS 19,078  23,548  7,664  8,769 
    FINANCIAL INCOME, NET (1,071) (746) (311) (149)
    LOSS FOR THE PERIOD$18,007 $22,802 $7,353 $8,620 
    BASIC AND DILUTED LOSS PER ORDINARY SHARE $0.94  1.02 $0.37  0.37 
                 
    WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE  19,230,070  22,431,096  19,787,194  22,997,708 



    For further information, please contact:

    Sol-Gel Contact:

    Gilad Mamlok

    Chief Financial Officer

    +972-8-9313433

    Investor Contact:

    Lee M. Stern

    Solebury Trout

    +1-646-378-2922

    Source: Sol-Gel Technologies Ltd. 

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  22. LAVAL, QC, Nov. 12, 2020 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced that its exclusive ONE by ONE Recycling program has recycled nearly 27 million used contact lenses, top foils and blister packs since launching in November 2016. The program, made possible through a collaboration with TerraCycle®, a world leader in the collection and repurposing of hard-to-recycle post-consumer waste, has diverted more than 162,000 pounds of contact lens waste from oceans, lakes, streams and landfills.

    "At Bausch Health, we continuously evaluate all aspects of our company to identify ways that we can achieve a more sustainable and regenerative state, while…

    LAVAL, QC, Nov. 12, 2020 /PRNewswire/ -- Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health"), today announced that its exclusive ONE by ONE Recycling program has recycled nearly 27 million used contact lenses, top foils and blister packs since launching in November 2016. The program, made possible through a collaboration with TerraCycle®, a world leader in the collection and repurposing of hard-to-recycle post-consumer waste, has diverted more than 162,000 pounds of contact lens waste from oceans, lakes, streams and landfills.

    "At Bausch Health, we continuously evaluate all aspects of our company to identify ways that we can achieve a more sustainable and regenerative state, while reducing our overall environmental footprint," said Amy Butler, vice president, Global Environment, Health, Safety + Sustainability, Bausch Health. "We are proud to offer the ONE by ONE Recycling program to customers and contact lens wearers to help ensure these used materials do not end up in our environment."

    Today, more than 5,500 optometry practices are registered with the ONE by ONE Recycling program. To participate, contact lens wearers can bring their used contact lenses and packaging to one of these offices, which collects the used lens materials in a custom recycling bin provided by Bausch + Lomb. Once the bin is filled, the optometry practice will ship the materials to TerraCycle for proper recycling using a pre-paid shipping label.

    "Millions of people wear contact lenses every day to help them see, but many do not realize the significant impact that these materials can have on the environment," said Tom Szaky, founder and CEO, TerraCycle. "In just four years, we have recycled hundreds of thousands of these used materials, removing them from our environment, and instead using them to give back to the community. It is a program we're proud to be part of and one we look forward to building upon in collaboration with Bausch + Lomb for years to come."

    Additionally, for every 10 pounds of material received from the ONE by ONE Recycling Program, TerraCycle donates $10 to Optometry Giving Sight, an organization that funds programs that provide eye examinations and low-cost eyeglasses to people in need, including tens of millions of children with uncorrected myopia.

    In 2019, Bausch + Lomb took the program one step further by repurposing the recycled waste and combining it with other recycled material to create custom training modules that were donated to the Guide Dog Foundation, a national not-for-profit that trains guide dogs for people who are blind or visually impaired. The modules, which included benches, tables, waste stations and an agility ramp, are used to train the dogs and to further enhance the organization's Smithtown, New York campus for those who visit.

    For more information on the Bausch + Lomb ONE by ONE Recycling Program, visit www.bauschrecycles.com.

    About TerraCycle

    TerraCycle is an innovative waste management company with a mission to eliminate the idea of waste. Operating nationally across 21 countries, TerraCycle partners with leading consumer product companies, retailers and cities to recycle products and packages, from dirty diapers to cigarette butts, that would otherwise end up being landfilled or incinerated. In addition, TerraCycle works with leading consumer product companies to integrate hard to recycle waste streams, such as ocean plastic, into their products and packaging. Its new division, Loop, is the first shopping system that gives consumers a way to shop for their favorite brands in durable, reusable packaging. TerraCycle has won over 200 awards for sustainability and has donated over $44 million to schools and charities since its founding more than 15 years ago and was named #10 in Fortune magazine's list of 52 companies Changing the World. To learn more about TerraCycle or get involved in its recycling programs, please visit www.terracycle.com.

    About the ONE by ONE Recycling Program

    Contact lens waste, including used lenses, foils and blister packs, is collected at eye care practices through special recycling bins provided by Bausch + Lomb and sent, postage-paid, to TerraCycle, where it is processed into raw material for the manufacture of new recycled products.

    About Bausch + Lomb

    Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see better to live better. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately 100 countries. For more information, visit www.bausch.com

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    TerraCycle is a trademark of TerraCycle Inc.

    Any other product/brand names and/or logos are trademarks of the respective owners.


    © 2020 Bausch & Lomb Incorporated or its affiliates.

    NPR.0281.USA.20

    Investor Contact:              

    Media Contact:

    Arthur Shannon                    

    Lainie Keller

        

     

    (514) 856-3855                             

    (908) 927-1198

    (877) 281-6642 (toll free)            



     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

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    SOURCE Bausch Health Companies Inc.

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  23. LAVAL, QC, Nov. 11, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") and its gastroenterology (GI) business, Salix Pharmaceuticals, ("Salix"), one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal diseases, today announced the presentation of two scientific posters featuring rifaximin data at the American Association for the Study of Liver Diseases (AASLD) annual meeting, The Liver Meeting Digital Experience, which will take place Nov. 13-16, 2020.

    "Salix's presence at The Liver Meeting Digital Experience, the premier conference for hepatology professionals, demonstrates our commitment to collaborating with the leading scientists and health…

    LAVAL, QC, Nov. 11, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health") and its gastroenterology (GI) business, Salix Pharmaceuticals, ("Salix"), one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal diseases, today announced the presentation of two scientific posters featuring rifaximin data at the American Association for the Study of Liver Diseases (AASLD) annual meeting, The Liver Meeting Digital Experience, which will take place Nov. 13-16, 2020.

    "Salix's presence at The Liver Meeting Digital Experience, the premier conference for hepatology professionals, demonstrates our commitment to collaborating with the leading scientists and health care professionals for the advancement of clinical research in liver disease. We look forward to sharing our data and continuing to expand upon our understanding of rifaximin's use in the clinical setting." said Robert Spurr, president, Salix.

    The scientific posters that will be presented by Salix at The Liver Meeting Digital Experience include:

    • Bajaj, Jasmohan. "Investigational Water-Soluble Rifaximin Formulation Significantly Shortens Time to Recovery in Hospitalized Patients with Overt Hepatic Encephalopathy (OHE): A Phase 2, Randomized, Double-Blind, Placebo-Controlled Trial." 
    • Flamm, Steven. "Precipitating Factors of Overt Hepatic Encephalopathy Occurrence: An Analysis of 3 Rifaximin Clinical Trials." 

    About Salix

    Salix Pharmaceuticals is one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal diseases.  For more than 30 years, Salix has licensed, developed, and marketed innovative products to improve patients' lives and arm health care providers with life-changing solutions for many chronic and debilitating conditions.  Salix currently markets its product line to U.S. health care providers through an expanded sales force that focuses on gastroenterology, hepatology, pain specialists and primary care.  Salix is headquartered in Bridgewater, New Jersey.  For more information about Salix, visit www.Salix.com and connect with us on Twitter and LinkedIn.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    ©2020 Salix Pharmaceuticals or its affiliates.

    SAL.0181.USA.20

    Investor Contact:

    Media Contacts:

    Arthur Shannon

    Lainie Keller       

     

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)





    Karen Paff                                 



     



    (908) 927-1190

     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

     

     

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    SOURCE Bausch Health Companies Inc.

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  24. LAVAL, Quebec, Nov. 10, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") today announced that the Company will participate in two investor conferences.

    Joseph C. Papa, chairman and chief executive officer, Sam Eldessouky, senior vice president and corporate controller, and Arthur J. Shannon, senior vice president and head of Investor Relations and Communications, are scheduled to participate at the Wolfe Virtual Healthcare Conference on Nov. 19, 2020 at 2:55 p.m. ET.

    Paul S. Herendeen, executive vice president and chief financial officer, and Arthur J. Shannon, senior vice president and head of Investor Relations and Communications, are scheduled to participate at the Evercore ISI HealthCONx Conference…

    LAVAL, Quebec, Nov. 10, 2020 /PRNewswire/ -- Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company") today announced that the Company will participate in two investor conferences.

    Joseph C. Papa, chairman and chief executive officer, Sam Eldessouky, senior vice president and corporate controller, and Arthur J. Shannon, senior vice president and head of Investor Relations and Communications, are scheduled to participate at the Wolfe Virtual Healthcare Conference on Nov. 19, 2020 at 2:55 p.m. ET.

    Paul S. Herendeen, executive vice president and chief financial officer, and Arthur J. Shannon, senior vice president and head of Investor Relations and Communications, are scheduled to participate at the Evercore ISI HealthCONx Conference on Dec. 1, 2020 at 8:50 a.m. ET.

    A live webcast and audio archive of the events will be available on the Investor Relations page of the Bausch Health Companies Inc. web site at: http://ir.bauschhealth.com/events-and-presentations/2020.

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Investor Contact:                                          

    Media Contact:

    Arthur Shannon                                               

    Lainie Keller

                    

    (514) 856-3855                                                 

    (908) 927-1198

    (877) 281-6642 (toll free)



     

    Bausch Health logo (PRNewsfoto/Bausch Health Companies Inc.)

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    SOURCE Bausch Health Companies Inc.

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    • DUOBRII is a topical antipsoriatic medication introduced in Canada1
    • Positive CADTH recommendation moves DUOBRII closer to federal, provincial and territorial drug plan reimbursement
    • DUOBRII provides the combined action of two compounds, halobetasol propionate, a corticosteroid, and tazarotene, a retinoid prodrug1
    • Formulated with PRISMATREX™, a proprietary technology, DUOBRII lotion improves the signs and symptoms of plaque psoriasis in adult patients with moderate to severe plaque psoriasis1
    • DUOBRII is manufactured for distribution throughout Canada and the United States at the Company's Quebec manufacturing facility in Laval

    LAVAL, QC, Nov. 10, 2020 /CNW Telbec/ - Bausch Health, Canada, part of Bausch Health Companies Inc. (NYSE:BHC) (TSX:BHC

    • DUOBRII is a topical antipsoriatic medication introduced in Canada1
    • Positive CADTH recommendation moves DUOBRII closer to federal, provincial and territorial drug plan reimbursement
    • DUOBRII provides the combined action of two compounds, halobetasol propionate, a corticosteroid, and tazarotene, a retinoid prodrug1
    • Formulated with PRISMATREX™, a proprietary technology, DUOBRII lotion improves the signs and symptoms of plaque psoriasis in adult patients with moderate to severe plaque psoriasis1
    • DUOBRII is manufactured for distribution throughout Canada and the United States at the Company's Quebec manufacturing facility in Laval

    LAVAL, QC, Nov. 10, 2020 /CNW Telbec/ - Bausch Health, Canada, part of Bausch Health Companies Inc. (NYSE:BHC) (TSX:BHC), ("Bausch Health" or the "Company") today announced that the CADTH Canadian Drug Expert Committee (CDEC) issued a positive recommendation for DUOBRII™ (0.01% w/w halobetasol propionate and 0.045% w/w tazarotene), a combination product composed of a corticosteroid and a retinoid prodrug.1

    According to the CDEC recommendation, halobetasol propionate and tazarotene should be reimbursed for improving the signs and symptoms of plaque psoriasis in adult patients with moderate-to-severe plaque psoriasis, if specific conditions are met.2

    "As a company committed to the Canadian psoriasis community, we are sensitive to the challenges of patients and physicians seeking to improve quality of life and achieve clear skin. We are excited about the CDEC positive recommendation that moves DUOBRII closer to federal, provincial and territorial reimbursement, and we are very proud that DUOBRII is manufactured at our own facility here in Canada," said Richard Lajoie, president and general manager, Bausch Health, Canada.

    DUOBRII is already reimbursed by the majority of private insurance plans in Canada.

    DUOBRII lotion provides a novel combination action of two well-known ingredients having long-established efficacy profiles. When administered together in DUOBRII, they provide complementary effects due to their individual modes of action targeting different receptors and pathways to achieve anti-inflammatory control and epidermal morphologic restoration.1

    DUOBRII is also unique based on its PRISMATREX™ technology, a polymeric emulsification system that provides a stable condition in which emulsion droplets retain their distribution across time and temperature.3  

    About Bausch Health Companies Inc. 

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. In Canada, the Company's prescription product portfolio is focused on eye health, dermatology and cardio-metabolic conditions. More information can be found on the Company's website at bauschhealth.ca.



    1 DUOBRII Product Monograph. Bausch Health, Canada Inc. June 8, 2020

    2 DUOBRII (halobetasol propionate and tazarotene lotion) CADTH Canadian Drug Expert Committee Recommendation – Final: https://www.cadth.ca/sites/default/files/cdr/complete/SR0638%20Duobrii%20-%20CDEC%20Final%20Recommendation%20October%2030%2C%202020_For%20Posting.pdf. Accessed November 2020.

    3 Data on file. Bausch Health, Canada Inc.

     

    SOURCE Bausch Health

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  25. LAVAL, Quebec, Nov. 3, 2020 /PRNewswire/ --

    • Third-Quarter 2020 Financial Results
      • Revenues of $2.138 Billion
      • GAAP Net Income of $71 Million
      • Adjusted EBITDA (non-GAAP) 1 of $948 Million
      • GAAP Cash Generated from Operations of $256 Million
    • Reaffirmed 2020 Full-Year Revenue and Adjusted EBITDA (non-GAAP) Guidance Ranges

    Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company" or "we") today announced

    LAVAL, Quebec, Nov. 3, 2020 /PRNewswire/ --

    • Third-Quarter 2020 Financial Results
      • Revenues of $2.138 Billion
      • GAAP Net Income of $71 Million
      • Adjusted EBITDA (non-GAAP) 1 of $948 Million
      • GAAP Cash Generated from Operations of $256 Million
    • Reaffirmed 2020 Full-Year Revenue and Adjusted EBITDA (non-GAAP) Guidance Ranges

    Bausch Health Companies Inc. (TSX:BHC) ("Bausch Health" or the "Company" or "we") today announced its third-quarter 2020 financial results.

    "Bausch Health's third-quarter 2020 results clearly demonstrate our recovery from the COVID-19 pandemic is in progress. In the third quarter, total company reported revenue grew 28% sequentially from the second quarter. Many of our durable brands are well-positioned to grow market share and return to growth, however, some of our prescription products are taking longer to return to pre-pandemic levels," said Joseph C. Papa, chairman and CEO, Bausch Health. "Throughout the pandemic, we have carefully managed our expenses, have prioritized our resources strategically, such as enhancing our e-commerce capabilities, and have maintained ample supply of our health care products for our customers and patients, and we will continue to do what's right for all our stakeholders."

    "We are also making good progress on our intention to separate our eye health business into an independent public company. As we look toward the future, we are excited about several new pipeline opportunities we are pursuing in areas of critical unmet medical need within eye health, including myopia, dry eye disease and age-related macular degeneration," continued Mr. Papa.

    Executing on Core Businesses and Advancing Pipeline

    • The Bausch + Lomb/International segment comprised approximately 55% of the Company's reported revenue in the third quarter of 2020
      • Reported revenue in the Bausch + Lomb/International segment decreased 1% compared to the third quarter of 2019; revenue in this segment was flat organically1,2 compared to the third quarter of 2019
      • Launched Bausch + Lomb INFUSE™ silicone hydrogel (SiHy) daily disposable contact lenses in the United States
      • Received approvals from Health Canada and the Australian Therapeutic Goods Administration for BAUSCH + LOMB ULTRA® ONE DAY silicone hydrogel (SiHy) daily disposable contact lenses
      • Received approval from the U.S. Food and Drug Administration (FDA) for Alaway® Preservative Free (ketotifen fumarate) ophthalmic solution, 0.035%, antihistamine eye drops (EM-100)
      • Entered into an agreement to acquire an option to purchase all ophthalmology assets of Allegro Ophthalmics, LLC, including global rights for risuteganib (Luminate®) 3
      • Acquired an exclusive license from Eyenovia, Inc. in the United States and Canada for the development and commercialization of an investigational microdose formulation of atropine ophthalmic solution, which is being investigated for the reduction of pediatric myopia progression in children ages 3-12
      • Acquired an exclusive global license from BHVI for a myopia control contact lens design
    • The Salix segment comprised approximately 23% of the Company's reported revenue in the third quarter of 2020
      • Reported and organic1, 2 revenue in the Salix segment decreased by 10% compared to the third quarter of 2019
      • Reported revenue for TRULANCE® (plecanatide) increased by 57% compared to the third quarter of 2019
      • The FDA granted Orphan Drug Designation to rifaximin for the treatment of sickle cell disease
    • The Ortho Dermatologics segment comprised approximately 7% of the Company's reported revenue in the third quarter of 2020
      • Reported revenue in the Ortho Dermatologics segment decreased by 2% compared to the third quarter of 2019; revenue in this segment decreased organically1, 2 by 3% compared to the third quarter of 2019
      • Reported revenue for the Thermage® franchise increased by 77% compared to the third quarter of 2019
    • Released both Bausch Foundation Inaugural Activity Report and the Company's annual Corporate Social Responsibility report in September 2020

    Debt Management

    • Repaid debt by approximately $100 million in the third quarter of 2020 for a total of approximately $420 million to date in 2020 with cash generated from operations
    • Bausch Health has no debt maturities or mandatory amortization payments until 2023

    Resolving Legal Matters

    • Resolved outstanding intellectual property disputes with Sun Pharmaceutical Industries Ltd. regarding XIFAXAN® (rifaximin) 200 mg and 550 mg tablets. Salix will maintain market exclusivity for XIFAXAN® until 2028 4

    Third-Quarter 2020 Revenue Performance

    Total reported revenues were $2.138 billion for the third quarter of 2020, as compared to $2.209 billion in the third quarter of 2019, a decrease of $71 million, or 3%. Revenue was negatively impacted by approximately $150 million in the third quarter of 2020 due to the impact of the COVID-19 pandemic. Excluding the unfavorable impact of foreign exchange of $6 million and the impact of divestitures and discontinuations of $4 million, revenue declined 3% organically1, 2 compared to the third quarter of 2019.

    Revenues by segment were as follows:

    (in millions)



    Three Months Ended

    September 30



    Reported

    Change



    Reported

    Change



    Change at

    Constant

    Currency1



    Organic

    Change1,2









    2020



    2019





















    Bausch + Lomb/International



    $1,169



    $1,175



    ($6)



    (1%)



    0%



    0%





    Salix



    $496



    $551



    ($55)



    (10%)



    (10%)



    (10%)





    Ortho Dermatologics



    $144



    $147



    ($3)



    (2%)



    (3%)



    (3%)





    Diversified Products



    $329



    $336



    ($7)



    (2%)



    (2%)



    (2%)





    Total Revenues



    $2,138



    $2,209



    ($71) 



    (3%)



    (3%)



    (3%)







    Bausch + Lomb/International Segment

    Bausch + Lomb/International segment revenues were $1.169 billion for the third quarter of 2020, as compared to $1.175 billion for the third quarter of 2019, a decrease of $6 million, or 1%. Excluding the unfavorable impact of foreign exchange of $7 million and the impact of divestitures and discontinuations of $3 million, the Bausch + Lomb/International segment was flat organically1, 2 compared to the third quarter of 2019 primarily due to the impact of the COVID-19 pandemic .

    Salix Segment

    Salix segment revenues were $496 million for the third quarter of 2020, as compared to $551 million for the third quarter of 2019, a decrease of $55 million, or 10%. The decrease was primarily driven by the loss of exclusivity of products in the segment, primarily APRISO® (mesalamine), which negatively impacted revenues by approximately $25 million; by an expected decline for GLUMETZA® (metformin hydrochloride), whose revenue declined by $21 million due to reduced net selling prices; and by the impact of the COVID-19 pandemic, including the impact to sales of XIFAXAN®, which declined by 3% compared to the third quarter of 2019.

    Ortho Dermatologics Segment

    Ortho Dermatologics segment revenues were $144 million for the third quarter of 2020, as compared to $147 million for the third quarter of 2019, a decrease of $3 million, or 2%. Excluding the favorable impact of foreign exchange of $1 million, the Ortho Dermatologics segment declined organically1,2 by approximately 3% compared to the third quarter of 2019 primarily driven by the loss of exclusivity of products in the segment, primarily ELIDEL® (pimecroliumus) Cream, 1%, which negatively impacted revenues by approximately $15 million.

    Diversified Products Segment

    Diversified Products segment revenues were $329 million for the third quarter of 2020, as compared to $336 million for the third quarter of 2019, a decrease of $7 million, or 2%. The decrease was primarily attributable to the previously reported loss of exclusivity for a basket of products and the impact of the COVID-19 pandemic.

    Operating Results

    Operating income was $460 million for the third quarter of 2020, as compared to operating income of $329 million for the third quarter of 2019, an increase of $131 million. The increase in operating results was primarily due to decreases in amortization of intangible assets, selling, general and administrative expenses, asset impairments and R&D expenses partially offset by decreases in revenues and gross margins primarily due to the impact of the COVID-19 pandemic, as discussed above.

    Net Income

    Net income was $71 million for the third quarter of 2020, as compared to net loss of $49 million for the third quarter of 2019, a favorable change of $120 million. The change was primarily driven by the increase in operating results discussed above and lower interest expense partially offset by an increase in our provision for income taxes.

    Adjusted net income (non-GAAP)1 for the third quarter of 2020 was $469 million, as compared to $425 million for the third quarter of 2019, an increase of $44 million, or 10%.

    Cash Generated from Operations

    The Company generated $256 million of cash from operations in the third quarter of 2020, as compared to $515 million in the third quarter of 2019, a decrease of $259 million. The decrease in cash from operations was primarily attributed to lower volumes and the timing of cash receipts as a result of the COVID-19 pandemic and also includes a payment of $45 million for the resolution of the legacy investigation by the U.S. Securities and Exchange Commission.

    EPS

    GAAP Earnings Per Share (EPS) Diluted for the third quarter of 2020 was $0.20, as compared to ($0.14) for the third quarter of 2019.

    Adjusted EBITDA (non-GAAP)1

    Adjusted EBITDA (non-GAAP)1 was $948 million for the third quarter of 2020, as compared to $942 million for the third quarter of 2019, an increase of $6 million, or 1%. The increase was primarily due to decreases in selling, general and administrative expenses partially offset by decreases in revenues and gross margins primarily due to the impact of the COVID-19 pandemic, as discussed above.

    2020 Financial Outlook

    Bausch Health reaffirmed its revenue and Adjusted EBITDA (non-GAAP) guidance ranges for the full year of 2020, reflecting management's current expectations. This assumes there are no material restrictions on access to health care products and services resulting from a possible resurgence of the virus on a global basis in the fourth quarter of 2020; the strict social restrictions seen earlier this year will not be materially re-enacted in the event of a material resurgence of the virus; rates of recovery will vary by geography and business unit; and an ongoing gradual global recovery as the macroeconomic and health care impacts of the COVID-19 pandemic run their course. Bausch Health's guidance ranges are as follows:

    • Full -year revenue range of $7.80$8.00 billion
    • Full-year Adjusted EBITDA (non-GAAP) range of $3.15$3.30 billion

    Other than with respect to GAAP Revenues, the Company only provides guidance on a non-GAAP basis. The Company does not provide a reconciliation of forward-looking Adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. In periods where significant acquisitions or divestitures are not expected, the Company believes it might have a basis for forecasting the GAAP equivalent for certain costs, such as amortization, which would otherwise be treated as non-GAAP to calculate projected GAAP net income (loss). However, because other deductions (such as restructuring, gain or loss on extinguishment of debt and litigation and other matters) used to calculate projected net income (loss) vary dramatically based on actual events, the Company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income (loss) at this time. The amount of these deductions may be material and, therefore, could result in projected GAAP net income (loss) being materially less than projected Adjusted EBITDA (non-GAAP). The full-year guidance ranges have been lowered primarily due to the actual and anticipated impacts of the COVID-19 pandemic. These impacts have affected the Company's assumptions regarding base performance and growth rates. These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-looking Statements section of this news release.

    Additional Highlights

    • Bausch Health's cash, cash equivalents and restricted cash were $1.988 billion6 at Sept. 30, 2020
    • The Company's availability under the Revolving Credit Facility was $1.118 billion at Sept. 30, 2020
    • Basic weighted average shares outstanding for the quarter were 355.6 million shares. Diluted weighted average shares outstanding for the quarter were 357.8 million shares

    Conference Call Details

    Date:

    Tuesday, Nov. 3, 2020

    Time:

    8:00 a.m. ET

    Webcast:

    http://ir.bauschhealth.com/events-and-presentations

    Participant Event Dial-in: 

    +1 (888) 317-6003 (United States)

    +1 (412) 317-6061 (International)

    +1 (866) 284-3684 (Canada)

    Participant Passcode:

    5548453

    Replay Dial-in:

    +1 (877) 344-7529 (United States)

    +1 (412) 317-0088 (International)

    +1 (855) 669-9658 (Canada)

    Replay Passcode:

    10148292 (replay available until Nov. 10, 2020)

    About Bausch Health

    Bausch Health Companies Inc. (TSX:BHC) is a global company whose mission is to improve people ' s lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

    Forward-looking Statements

    This news release contains forward-looking information and statements, within the meaning of applicable securities laws (collectively, "forward-looking statements"), including, but not limited to, Bausch Health ' s future prospects and performance, including the Company's 2020 full-year guidance, the Company's plan to separate its eye health business from the remainder of Bausch Health and the anticipated impact of the COVID-19 pandemic on the Company and the Company's recovery therefrom. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions, and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result, and similar such expressions also identify forward-looking information. These forward-looking statements, including the Company's full-year guidance, are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs, and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Company ' s most recent annual and quarterly reports and detailed from time to time in the Company ' s other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which risks and uncertainties are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties relating to the Company's proposed plan to separate its eye health business from the remainder of Bausch Health, including the expected benefits and costs of the separation transaction, the expected timing of completion of the separation transaction and its terms, the Company's ability to complete the separation transaction considering the various conditions to the completion of the separation transaction (some of which are outside the Company's control, including conditions related to regulatory matters and a possible shareholder vote, if applicable), that market or other conditions are no longer favorable to completing the transaction, that any shareholder, stock exchange, regulatory or other approval (if required) is not obtained on the terms or timelines anticipated or at all, business disruption during the pendency of or following the separation transaction, diversion of management time on the separation transaction-related issues, retention of existing management team members, the reaction of customers and other parties to the separation transaction, the qualification of the separation transaction as a tax-free transaction for Canadian and/or U.S. federal income tax purposes (including whether or not an advance ruling from either or both of the Canada Revenue Agency and the Internal Revenue Service will be sought or obtained), potential dis-synergy costs between the separated entity and the remainder of Bausch Health, the impact of the separation transaction on relationships with customers, suppliers, employees and other business counterparties, general economic conditions, conditions in the markets Bausch Health is engaged in, behavior of customers, suppliers and competitors, technological developments and legal and regulatory rules affecting Bausch Health's business. In particular, the Company can offer no assurance that any separation transaction will occur at all, or that any separation transaction will occur on the terms and timelines anticipated by the Company. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on the Company, including but not limited to its supply chain, third-party suppliers, project development timelines, employee base, liquidity, stock price, financial condition and costs (which may increase) and revenue and margins (both of which may decrease). In addition, certain material factors and assumptions have been applied in making these forward-looking statements, including, without limitation, assumptions regarding our 2020 full-year guidance with respect to expectations regarding base performance and management's belief regarding the impact of the COVID-19 pandemic and associated responses on such base performance and the operations and financial results of the Company generally, expected currency impact, the expected timing and impact of loss of exclusivity for certain of our products, expectations regarding gross margin, adjusted SG&A expense (non-GAAP) and the Company's ability to continue to manage such expense in the manner anticipated and the anticipated timing and extent of the Company's R&D expense; and the assumption that the risks and uncertainties outlined above will not cause actual results or events to differ materially from those described in these forward-looking statements. Management has also made certain assumptions in assessing the anticipated impacts of the COVID-19 pandemic on the Company and its results of operations and financial conditions, including: that there will be n o material restrictions on access to health care products and services resulting from a possible resurgence of the virus on a global basis in the fourth quarter of 2020; that the strict social restrictions seen earlier this year will not be materially re-enacted in the event of a material resurgence of the virus; that there will be an ongoing gradual global recovery as the macroeconomic and health care impacts of the COVID-19 pandemic run their course ; that the largest impact to the Company's businesses were seen in the second quarter of 2020 although we expect additional COVID-19 pandemic related declines in the year-over-year revenues in the remainder of 2020 in many of our businesses and geographies; anticipate that our affected businesses could possibly return to pre-pandemic levels as early as late 2020 or in 2021, but that rates of recovery will vary by geography and business unit, with some regions and business units expected to lag in recovery possibly beyond 2021; and no major interruptions in the Company's supply chain and distribution channels. If any of these assumptions regarding the impacts of the COVID-19 pandemic are incorrect, our actual results could differ materially from those described in these forward-looking statements.

    Additional information regarding certain of these material factors and assumptions may also be found in the Company's filings described above. The Company believes that the material factors and assumptions reflected in these forward-looking statements are reasonable in the circumstances, but readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

    Non-GAAP Information

    To supplement the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures, including (i) Adjusted EBITDA (non-GAAP), (ii) organic growth/change and (iii) constant currency. As discussed below, we also provide Adjusted Net Income (non-GAAP) to provide supplemental information to readers. Management uses these non-GAAP measures as key metrics in the evaluation of the Company's performance and the consolidated financial results and, in part, in the determination of cash bonuses for its executive officers. The Company believes these non-GAAP measures are useful to investors in their assessment of our operating performance and the valuation of the Company. In addition, these non-GAAP measures address questions the Company routinely receives from analysts and investors, and in order to assure that all investors have access to similar data, the Company has determined that it is appropriate to make this data available to all investors.

    However, these measures are not prepared in accordance with GAAP nor do they have any standardized meaning under GAAP. In addition, other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to such similarly titled non-GAAP financial measures used by other companies. We caution investors not to place undue reliance on such non-GAAP measures, but instead to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation. They should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

    The reconciliations of these historic non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are shown in the tables below. However, as indicated above, for guidance purposes, the Company does not provide reconciliations of projected Adjusted EBITDA (non-GAAP) to projected GAAP net income (loss), due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations.

    Specific Non-GAAP Measures

    Adjusted EBITDA (non-GAAP)

    Adjusted EBITDA (non-GAAP) is GAAP net income (loss) attributable to Bausch Health Companies Inc. (its most directly comparable GAAP financial measure) adjusted for interest expense, net, income taxes, depreciation and amortization and certain other items described below. Management believes that Adjusted EBITDA (non-GAAP), along with the GAAP measures used by management, most appropriately reflect how the Company measures the business internally and sets operational goals and incentives. In particular, the Company believes that Adjusted EBITDA (non-GAAP) focuses management on the Company ' s underlying operational results and business performance. As a result, the Company uses Adjusted EBITDA (non-GAAP) both to assess the actual financial performance of the Company and to forecast future results as part of its guidance. Management believes Adjusted EBITDA (non-GAAP) is a useful measure to evaluate current performance. Adjusted EBITDA (non-GAAP) is intended to show our unleveraged, pre-tax operating results and therefore reflects our financial performance based on operational factors. In addition, cash bonuses for the Company ' s executive officers and other key employees are based, in part, on the achievement of certain Adjusted EBITDA (non-GAAP) targets.

    Adjusted EBITDA (non-GAAP) is net income (loss) attributable to the Company (its most directly comparable GAAP financial measure) adjusted for interest expense, net, income taxes, depreciation and amortization and the following items:

    • Restructuring and integration costs : The Company has incurred restructuring costs as it implemented certain strategies, which involved, among other things, improvements to its infrastructure and operations, internal reorganizations and impacts from the divestiture of assets and businesses. In addition, in connection with its acquisition of certain assets of Synergy Pharmaceuticals Inc. ("Synergy"), the Company has incurred certain severance and integration costs. With regard to infrastructure and operational improvements which the Company has taken to improve efficiencies in the businesses and facilities, these tend to be costs intended to right size the business or organization that fluctuate significantly between periods in amount, size and timing, depending on the improvement project, reorganization or transaction. With regard to the severance and integration costs associated with the acquisition of certain assets of Synergy, these costs are specific to the acquisition itself and provided no benefit to the ongoing operations of the Company. As a result, the Company does not believe that such costs (and their impact) are truly representative of its underlying business. The Company believes that the adjustments of these items provide supplemental information with regard to the sustainability of the Company ' s operating performance, allow for a comparison of the financial results to historical operations and forward-looking guidance and, as a result, provide useful supplemental information to investors.
    • Asset impairments : The Company has excluded the impact of impairments of finite-lived and indefinite-lived intangible assets, as well as impairments of assets held for sale, as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions and divestitures. The Company believes that the adjustments of these items correlate with the sustainability of the Company ' s operating performance. Although the Company excludes impairments of intangible assets from measuring the performance of the Company and the business, the Company believes that it is important for investors to understand that intangible assets contribute to revenue generation.
    • Goodwill impairments: The Company excludes the impact of goodwill impairments. When the Company has made acquisitions where the consideration paid was in excess of the fair value of the net assets acquired, the remaining purchase price is recorded as goodwill. For assets that we developed ourselves, no goodwill is recorded. Goodwill is not amortized but is tested for impairment. The amount of goodwill impairment is measured as the excess of a reporting unit's carrying value over its fair value. Management excludes these charges in measuring the performance of the Company and the business.
    • Share-based compensation : The Company has excluded costs relating to share-based compensation. The Company believes that the exclusion of share-based compensation expense assists investors in the comparisons of operating results to peer companies. Share-based compensation expense can vary significantly based on the timing, size and nature of awards granted.
    • Acquisition-related costs and adjustments excluding amortization of intangible assets : The Company has excluded the impact of acquisition-related costs and fair value inventory step-up resulting from acquisitions as the amounts and frequency of such costs and adjustments are not consistent and are impacted by the timing and size of its acquisitions. In addition, the Company has excluded the impact of acquisition-related contingent consideration non-cash adjustments due to the inherent uncertainty and volatility associated with such amounts based on changes in assumptions with respect to fair value estimates, and the amount and frequency of such adjustments is not consistent and is significantly impacted by the timing and size of the Company ' s acquisitions, as well as the nature of the agreed-upon consideration.
    • Loss on extinguishment of debt : The Company has excluded loss on extinguishment of debt as this represents a cost of refinancing our existing debt and is not a reflection of our operations for the period. Further, the amount and frequency of such charges are not consistent and are significantly impacted by the timing and size of debt financing transactions and other factors in the debt market out of management ' s control.
    • Separation costs and separation-related costs : The Company has excluded certain costs incurred in connection with activities taken to: (i) separate the eye-health business from the remainder of the Company and (ii) register the eye-health business as an independent publicly traded entity. Separation costs are incremental costs directly related to effectuating the separation of the eye-health business and include, but are not limited to, legal, audit and advisory fees, employee hiring, relocation and travel costs and costs associated with establishing a new board of directors and audit committee. Separation-related costs are incremental costs indirectly related to the separation of the eye-health business and include, but are not limited to, IT infrastructure and software licensing costs, rebranding costs and costs associated with facility relocation and/or modification. As these costs arise from events outside of the ordinary course of continuing operations, the Company believes that the adjustments of these items provide supplemental information with regard to the sustainability of the Company's operating performance, allow for a comparison of the financial results to historical operations and forward-looking guidance and, as a result, provide useful supplemental information to investors.
    • Other Non-GAAP charges : The Company has excluded certain other amounts, including legal and other professional fees incurred in connection with recent legal and governmental proceedings, investigations and information requests regarding certain of our legacy distribution, marketing, pricing, disclosure and accounting practices, litigation and other matters, and net gain on sales of assets. The Company has also excluded expenses associated with in-process research and development, as these amounts are inconsistent in amount and frequency and are significantly impacted by the timing, size and nature of acquisitions. Furthermore, as these amounts are associated with research and development acquired, the Company does not believe that they are a representation of the Company's research and development efforts during any given period. The Company has also excluded IT infrastructure investment, that are the result of other, non-comparable events to measure operating performance. These events arise outside of the ordinary course of continuing operations. Given the unique nature of the matters relating to these costs, the Company believes these items are not normal operating expenses. For example, legal settlements and judgments vary significantly, in their nature, size and frequency, and, due to this volatility, the Company believes the costs associated with legal settlements and judgments are not normal operating expenses. In addition, as opposed to more ordinary course matters, the Company considers that each of the recent proceedings, investigations and information requests, given their nature and frequency, are outside of the ordinary course and relate to unique circumstances. The Company believes that the exclusion of such out-of-the-ordinary-course amounts provides supplemental information to assist in the comparison of the financial results of the Company from period to period and, therefore, provides useful supplemental information to investors. However, investors should understand that many of these costs could recur and that companies in our industry often face litigation.

    Adjusted Net Income (non-GAAP)

    Historically, management has used Adjusted net income (non-GAAP) (the most directly comparable GAAP financial measure for which is GAAP Net income (loss)) for strategic decision making, forecasting future results and evaluating current performance. This non-GAAP measure excludes the impact of certain items (as described below) that may obscure trends in the Company ' s underlying performance. By disclosing this non-GAAP measure, it is management ' s intention to provide investors with a meaningful, supplemental comparison of the Company ' s operating results and trends for the periods presented. It is management ' s belief that this measure is also useful to investors as such measure allowed investors to evaluate the Company ' s performance using the same tools that management uses to evaluate past performance and prospects for future performance. Accordingly, it is the Company ' s belief that adjusted net income (non-GAAP) is useful to investors in their assessment of the Company ' s operating performance and the valuation of the Company. It is also noted that, in recent periods, our GAAP net income (loss) was significantly lower than our adjusted net income (non-GAAP). Commencing in 2017, management of the Company identified and began using certain new primary financial performance measures to assess the Company ' s financial performance. However, management still believes that Adjusted net income (non-GAAP) may be useful to investors in their assessment of the Company and its performance.

    Adjusted net income (non-GAAP) is net income (loss) attributable to Bausch Health Companies Inc. (its most directly comparable GAAP financial measure) adjusted for restructuring and integration costs, acquired in-process research and development costs, loss on extinguishment of debt, asset impairments, acquisition-related adjustments, excluding amortization, separation costs and separation-related costs and other non-GAAP charges as these adjustments are described above, and amortization of intangible assets as described below:

    • Amortization of intangible assets : The Company has excluded the impact of amortization of intangible assets, as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. The Company believes that the adjustments of these items correlate with the sustainability of the Company ' s operating performance. Although the Company excludes amortization of intangible assets from its non-GAAP expenses, the Company believes that it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets.

    Organic Growth/Change

    Organic growth/change, a non-GAAP metric, is defined as a change on a period-over-period basis in revenues on a constant currency basis (if applicable) excluding the impact of recent acquisitions, divestitures and discontinuations (if applicable). Organic growth/change is change in GAAP Revenue (its most directly comparable GAAP financial measure) adjusted for certain items, as further described below, of businesses that have been owned for one or more years. Organic revenue growth/change is impacted by changes in product volumes and price. The price component is made up of two key drivers: (i) changes in product gross selling price and (ii) changes in sales deductions. The Company uses organic growth/change to assess performance of its business units and operating and reportable segments, and the Company in total, without the impact of foreign currency exchange fluctuations and recent acquisitions, divestitures and product discontinuations. The Company believes that such measures are useful to investors as they provide a supplemental period-to-period comparison.

    Organic growth/change reflects adjustments for: (i) the impact of period-over-period changes in foreign currency exchange rates on revenues and (ii) the revenues associated with acquisitions, divestitures and discontinuations of businesses divested and/or discontinued. These adjustments are determined as follows:

    • Foreign currency exchange rates: Although changes in foreign currency exchange rates are part of our business, they are not within management ' s control. Changes in foreign currency exchange rates, however, can mask positive or negative trends in the business. The impact for changes in foreign currency exchange rates is determined as the difference in the current period reported revenues at their current period currency exchange rates and the current period reported revenues revalued using the monthly average currency exchange rates during the comparable prior period.
    • Acquisitions, divestitures and discontinuations: In order to present period-over-period organic revenue (non-GAAP) growth/change on a comparable basis, revenues associated with acquisitions, divestitures and discontinuations are adjusted to include only revenues from those businesses and assets owned during both periods. Accordingly, organic revenue (non-GAAP) growth/change excludes from the current period, revenues attributable to each acquisition for twelve months subsequent to the day of acquisition, as there are no revenues from those businesses and assets included in the comparable prior period. Organic revenue (non-GAAP) growth/change excludes from the prior period, all revenues attributable to each divestiture and discontinuance during the twelve months prior to the day of divestiture or discontinuance, as there are no revenues from those businesses and assets included in the comparable current period.

    Constant Currency

    Changes in the relative values of non-U.S. currencies to the U.S. dollar may affect the Company ' s financial results and financial position. To assist investors in evaluating the Company ' s performance, we have adjusted for foreign currency effects. Constant currency impact is determined by comparing 2020 reported amounts adjusted to exclude currency impact, calculated using 2019 monthly average exchange rates, to the actual 2019 reported amounts.

    Please also see the reconciliation tables below for further information as to how these non-GAAP measures are calculated for the periods presented.

    ____________________________________

    1

    Please see the tables at the end of this news release for a reconciliation of this and other non-GAAP measures to the nearest comparable GAAP measure.

    2

    Organic growth/change, a non-GAAP metric, is defined as a change on a period-over-period basis in revenues on a constant currency basis (if applicable) excluding the impact of recent acquisitions, divestitures and discontinuations.

    3

    Provisional name. Risuteganib is an investigational compound. Luminate® is a registered trademark of Allegro Ophthalmics, LLC.

    4

    Sun Pharmaceutical Industries Ltd. will be able to begin marketing the medicine earlier if another generic rifaximin product is granted approval and starts selling or distributing such generic rifaximin product before Jan. 1, 2028. On Feb. 17, 2020, the Salix Parties (Bausch Health, Salix and Salix's licensor Alfasigma SpA) received a Notice of Paragraph IV Certification from Norwich Pharmaceuticals, Inc. relating to XIFAXAN® tablets, 550 mg; and filed suit against Norwich on March 26, 2020, which remains pending.

    5

    To assist investors in evaluating the Company's performance, we have adjusted for changes in foreign currency exchange rates. Change at constant currency, a non-GAAP metric, is determined by comparing 2020 reported amounts adjusted to exclude currency impact, calculated using 2019 monthly average exchange rates, to the actual 2019 reported amounts.

    6

    Cash, cash equivalents and restricted cash at Sept. 30, 2020 includes remaining net proceeds from the December 2019 bond issuance intended to be used to finance the $1.210 billion pending settlement of the U.S. Securities litigation expected to be due in 2020. (The Company is awaiting final court approval).

     

    Investor Contact:

    Media Contact:

    Arthur Shannon

    Lainie Keller

    (514) 856-3855

    (908) 927-1198

    (877) 281-6642 (toll free)



    FINANCIAL TABLES FOLLOW

    Bausch Health Companies Inc.



     Table 1

    Condensed Consolidated Statements of Operations

    For the Three and Nine Months Ended September 30, 2020 and 2019



    (unaudited)





















    Three Months Ended



    Nine Months Ended





    September 30,



    September 30,

    (in millions)



    2020



    2019



    2020



    2019

    Revenues

















    Product sales



    $

    2,111





    $

    2,180





    $

    5,734





    $

    6,291



    Other revenues



    27





    29





    80





    86







    2,138





    2,209





    5,814





    6,377



    Expenses

















    Cost of goods sold (excluding amortization and impairments of intangible assets)



    578





    571





    1,565





    1,675



    Cost of other revenues



    12





    13





    39





    40



    Selling, general and administrative



    572





    648





    1,731





    1,886



    Research and development



    103





    123





    333





    357



    Amortization of intangible assets



    391





    475





    1,263





    1,452



    Asset impairments



    2





    33





    17





    49



    Restructuring, integration and separation costs



    2





    4





    13





    28



    Acquisition-related contingent consideration



    2





    3





    26





    2



    Other expense, net



    16





    10





    146





    15







    1,678





    1,880





    5,133





    5,504



    Operating income



    460





    329





    681





    873



    Interest income



    2





    2





    11





    9



    Interest expense



    (374)





    (406)





    (1,155)





    (1,221)



    Loss on extinguishment of debt











    (51)





    (40)



    Foreign exchange and other



    (13)





    9





    (26)





    12



    Income (loss) before (provision for) benefit from income taxes



    75





    (66)





    (540)





    (367)



    (Provision for) benefit from income taxes



    (5)





    18





    133





    101



    Net income (loss)



    70





    (48)





    (407)





    (266)



    Net loss (income) attributable to noncontrolling interest



    1





    (1)









    (6)



    Net income (loss) attributable to Bausch Health Companies Inc.



    $

    71





    $

    (49)





    $

    (407)





    $

    (272)



     

    Bausch Health Companies Inc.





     Table 2

    Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income (non-GAAP)

    For the Three and Nine Months Ended September 30, 2020 and 2019

    (unaudited)





















    Three Months Ended



    Nine Months Ended





    September 30,



    September 30,

    (in millions)



    2020



    2019



    2020



    2019

    Net income (loss) attributable to Bausch Health Companies Inc.



    $

    71





    $

    (49)





    $

    (407)





    $

    (272)



    Non-GAAP adjustments: (a)

















    Amortization of intangible assets



    391





    475





    1,263





    1,452



    Asset impairments



    2





    33





    17





    49



    Restructuring and integration costs



    1





    4





    12





    28



    Acquired in-process research and development costs



    12





    1





    20





    9



    Acquisition-related costs and adjustments(excluding amortization of intangible assets)



    2





    3





    26





    15



    Loss on extinguishment of debt











    51





    40



    IT infrastructure investment



    5





    6





    16





    15



    Separation costs and separation-related costs



    5









    5







    Legal and other professional fees



    6





    3





    28





    22



    Net gain on sale of assets







    (1)





    (1)





    (10)



    Litigation and other matters



    4





    9





    127





    12



    Other







    1









    (6)



    Tax effect of non-GAAP adjustments



    (30)





    (60)





    (207)





    (199)



    Total non-GAAP adjustments



    398





    474





    1,357





    1,427



    Adjusted net income attributable to Bausch Health Companies Inc. (non-GAAP)



    $

    469





    $

    425





    $

    950





    $

    1,155







    (a)

    The components of and further details respecting each of these non-GAAP adjustments and the financial statement line item to which each component relates can be found on Table 2a.

     

    Bausch Health Companies Inc.

     Table 2a

    Reconciliation of GAAP to Non-GAAP Financial Information

    For the Three and Nine Months Ended September 30, 2020 and 2019

    (unaudited)





















    Three Months Ended



    Nine Months Ended





    September 30,



    September 30,

    (in millions)



    2020



    2019



    2020



    2019

    Cost of goods sold reconciliation:

















    GAAP Cost of goods sold (excluding amortization and impairments of intangible assets)



    $

    578





    $

    571





    $

    1,565





    $

    1,675



    Fair value inventory step-up resulting from acquisitions (a)















    (5)



    Adjusted cost of goods sold (excluding amortization and impairments of intangible assets) (non-GAAP)



    $

    578





    $

    571





    $

    1,565





    $

    1,670



    Selling, general and administrative reconciliation:

















    GAAP Selling, general and administrative



    $

    572





    $

    648





    $

    1,731





    $

    1,886



    IT infrastructure investment (b)



    (5)





    (6)





    (16)





    (15)



    Legal and other professional fees (c)



    (6)





    (3)





    (28)





    (22)



    Separation-related costs (d)



    (4)









    (4)







    Other Selling, general and administrative (e)















    2



    Adjusted selling, general and administrative (non-GAAP)



    $

    557





    $

    639





    $

    1,683





    $

    1,851



    Amortization of intangible assets reconciliation:

















    GAAP Amortization of intangible assets



    $

    391





    $

    475





    $

    1,263





    $

    1,452



    Amortization of intangible assets (f)



    (391)





    (475)





    (1,263)





    (1,452)



    Adjusted amortization of intangible assets (non-GAAP)



    $





    $





    $





    $



    Restructuring, integration and separation costs reconciliation:

















    GAAP Restructuring, integration and separation costs



    $

    2





    $

    4





    $

    13





    $

    28



    Restructuring and integration costs (g)



    (1)





    (4)





    (12)





    (28)



    Separation costs (d)



    (1)









    (1)







    Adjusted restructuring, integration and separation costs (non-GAAP)



    $





    $





    $





    $



    Asset impairments reconciliation:

















    GAAP Asset impairments



    $

    2





    $

    33





    $

    17





    $

    49



    Asset impairments (h)



    (2)





    (33)





    (17)





    (49)



    Adjusted asset impairments (non-GAAP)



    $





    $





    $





    $



    Acquisition-related contingent consideration reconciliation:

















    GAAP Acquisition-related contingent consideration



    $

    2





    $

    3





    $

    26





    $

    2



    Acquisition-related contingent consideration (a)



    (2)





    (3)





    (26)





    (2)



    Adjusted acquisition-related contingent consideration (non-GAAP)



    $





    $





    $





    $



    Other expense, net reconciliation:

















    GAAP Other expense, net



    $

    16





    $

    10





    $

    146





    $

    15



    Net gain on sale of assets (i)







    1





    1





    10



    Acquisition-related costs (a)















    (8)



    Litigation and other matters (j)



    (4)





    (9)





    (127)





    (12)



    Acquired in-process research and development costs (k)



    (12)





    (1)





    (20)





    (9)



    Other (e)







    (1)









    4



    Adjusted other expense, net (non-GAAP)



    $





    $





    $





    $



     

    Bausch Health Companies Inc.

     Table 2a (continued)

    Reconciliation of GAAP to Non-GAAP Financial Information

    For the Three and Nine Months Ended September 30, 2020 and 2019

    (unaudited)





















    Three Months Ended



    Nine Months Ended





    September 30,



    September 30,