Valeant Pharmaceuticals International announced that the company will change its name to Bausch Health Companies Inc. The name change will be effective from July 2018.
“Becoming Bausch Health Companies is a major step forward in our transformation,” said Joseph C. Papa, chairman and CEO, Valeant. “The Bausch name embodies the rich history of innovation, fortitude and dedication to patient health dating back to when J.J. Bausch opened his first optical goods shop more than 165 years ago. These qualities form the foundation of who we are today as we continue to build an innovative company striving to improve the health of patients globally.”
Since joining Valeant in May 2016, Mr. Papa and his leadership team have embarked on a multi-year effort to turnaround the company. In the past two years, Valeant has completed more than a dozen divestitures to strategically streamline operations, has reduced debt by more than 20%, and has resolved numerous legacy issues.
All Valeant’s entities that have separate established brands will continue to operate under the corporate umbrella using their existing names.
As part of the name change, the company will roll out a new corporate brand identity in July 2018, which will include new imagery and web site, and will trade under a new symbol, BHC.
Headquartered in Laval, Canada, Valeant Pharmaceuticals International is a multinational specialty pharmaceutical company. It develops, manufactures, and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology, and branded generics.