As we discussed earlier, Valeant Pharmaceuticals (VRX) reported a 9% decrease in its operating revenues to ~$2.0 billion during the first quarter—compared to revenues of ~$2.1 billion during the first quarter of 2017.
The above chart shows Valeant’s recent developments.
A few of Valeant’s recent developments are:
- On June 1, Valeant entered into a fourth amended and restated credit and guarantee agreement to refinance its secured revolving and term loan credit facilities. The company also closed the offering of 8.500% senior notes due in 2027 by a wholly owned indirect subsidiary.
- On May 31, Salix Pharmaceuticals, a wholly-owned subsidiary of Valeant, announced that it will present new scientific data at the Digestive Disease Week in Washington DC on June 2–5. There will be one podium presentation and eight posters.
- On May 8, Valeant announced its name change to Bausch Health Companies effective in July. The name change will introduce a new corporate brand identity in July. The company will upgrade its image and website. The company will trade under a new ticker “BHC” once the name change takes effect.
- On May 7, Bausch + Lomb, a wholly owned subsidiary of Valeant, launched LUMIFY—an over-the-counter eyedrop. LUMIFY is developed with a low dose of brimonidine tartrate to treat patients with eye redness.
- On May 7, the FDA approved Plenvu—a lower-volume polyethylene glycol based bowel cleansing preparation. Plenvu was licensed to Salix Pharmaceuticals, a wholly-owned subsidiary of Valeant, in August 2016 from Norgine BV. Salix plans to launch Plenvu in US markets in the third quarter.