Report
Michael Waterhouse
EUR 100.00 For Business Accounts Only

Bausch Health's new name doesn't change the company's operating hurdles and high debt load.

Bausch Health--following its name change from Valeant--reported second-quarter results mostly in line with our expectations. Management slightly raised its adjusted EBITDA range in addition to reducing its tax rate and capital spending outlook for the year. We plan to make a few adjustments to our model, including accounting for a new segment reporting structure, but we don’t anticipate a material shift to our fair value estimate or no-moat rating. Upcoming generic competition on a number of pro...
Underlying
Bausch Health Companies Inc.

Valeant Pharmaceuticals International is a pharmaceutical and medical device company that develops, manufactures, and markets a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). Co. has two operating and reportable segments: Developed Markets, which focuses in dermatology, neurology, gastrointestinal disorders, and eye health therapeutic; and Emerging Markets, which focuses primarily on branded generics, OTC products, and medical devices.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Michael Waterhouse

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