MONTREAL — The chief executive officer of Bausch Health expects to observe a revenue growth this year, while the pharmacological society emerges from a mountain of debt and lawsuits.
Joseph Dad said to expect that Bausch, formerly known under the name Valeant Pharmaceuticals, double the revenue from its seven major products, to achieve between 150 and US $ 300 million, generating a growth of its sales overall.
These seven products include of vision care products that treat a variety of problems, ranging from glaucoma in the eyes injected of blood.
Since he took the helm of the company in 2016, Mr. Dad, is away from the strategy of acquiring ambitious of his predecessor, Mike Pearson, and focused on the reduction of the company’s debt, reducing it by more than a billion dollars in 2018 to bring it back to less than US $ 25 billion.
In the text of a presentation he was to give on Monday in the framework of a conference on health care in San Francisco, Mr. Papa indicated that he had the intention to devote an additional billion dollars to the debt reduction or acquisitions complementary in 2019.
Bausch, based in Laval, Quebec, has spent the past years mired in investigations and lawsuits, including antitrust procedures and investigation for fraud in California. The company had entered into settlements, or dropping of charges in approximately 60 cases by date of 7 November, and most of its legal problems are now resolved, according to a spokesman.
Bausch has recorded a net loss of 3.8 billion US $ during the first nine months of 2018. However, in November, the company has raised its forecast of annual profit adjusted pre-tax, impairment, depreciation and amortization for the second time of the year. It table as well on such a profit of between 3.3 billion US $ 3,45 billion US$.
Douglas Miehm, an analyst for RBC Dominion securities, has estimated that the forecast of the big boss of Bausch corresponded in large measure to its own outlook, “but we consider that this is evidence of the confidence of the management to this group of products”.
In a note to investors, Mr. Miehm said that Bausch’s “always been conservative” in its forecasts for the full fiscal year and that the sales of the products “may in fact exceed these expectations”.