Bausch Health Companies Inc.
5.90-0.29 (-4.68%)
Oct 29, 4:00:02 PM EDT · NYSE · BHC · USD
Key Stats
Market Cap
2.18BP/E (TTM)
22.69Basic EPS (TTM)
0.26Dividend Yield
0%Recent Filings
8-K
8-K
Shareholders approve rights plan
Bausch Health Companies Inc. shareholders overwhelmingly ratified the Amended and Restated Shareholder Rights Plan Agreement on October 7, 2025, with 178,244,775 votes in favor against 40,130,633 opposed. This poison pill bolsters defenses against potential takeovers, signaling board confidence in steering the company independently. Ratification passed decisively. Yet, activist pressures linger as a key risk.
8-K
Bausch Health acquires DURECT
Bausch Health Companies Inc. completed its acquisition of DURECT Corporation on September 11, 2025, after 62% of DURECT shares were tendered in the offer that expired the prior day. Shareholders received $1.75 per share in cash plus a contingent value right tied to up to $350 million in net sales milestones, net of employee bonuses. The merger positions DURECT as a wholly-owned subsidiary, bolstering Bausch Health's pipeline without a stockholder vote. Milestone risks hinge on future sales performance.
8-K
Icahn exits board amid stake shift
Bausch Health's Director Appointment and Nomination Agreement with the Icahn Group terminated on August 14, 2025, after their net long position dropped below the threshold, prompting resignations from board members Brett M. Icahn and Steven D. Miller. Paulson Capital Inc. and affiliates scooped up the Icahn Group's 34,721,118 shares, boosting their stake to 19.13%. Board chair John A. Paulson voiced confidence in the company's value-maximizing efforts. No new agreements bind the company to Paulson.
10-Q
Q2 FY2025 results
Bausch Health's Q2 revenues climbed 5% year-over-year to $2.5B, fueled by volume gains in Salix's Xifaxan (up 12% y/y to $627M) and Bausch + Lomb's eye care lines, while Solta Medical surged 25% on Asia-Pacific demand; yet, gross margins held steady at 70.1% amid higher promotion costs for MIEBO. Operating income rose 14% to $444M, with diluted EPS at $0.40 versus $0.03 last year—EPS reconciles cleanly to 373.1M diluted shares. Free cash flow hit $286M (derived: $500M operating cash minus $214M capex), bolstering $1.7B cash reserves against $21.2B debt, including fresh $7.4B in long-term notes from April and June refinancings that extended maturities to 2032. Bausch + Lomb's January Whitecap buy added glaucoma pipeline depth for $28M upfront. Patent battles loom over Xifaxan generics.
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