LAVAL, QC, Jan. 12, 2021 /CNW/ -- Bausch Health Companies
Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") will
provide a preliminary update on its fourth-quarter and full-year
2020 financial results and the continued pace of its business
recovery from the COVID-19 pandemic tomorrow, Jan. 13, 2021, during a fireside chat at
10 a.m. ET at the 39th
Annual J.P. Morgan Healthcare Conference.
Bausch Health expects its revenue in the fourth quarter of 2020
will be greater than $2.20 billion.
For the full year of 2020, the Company anticipates it will
outperform the high end of its latest revenue guidance range
of $7.80 – $8.00 billion.1
"Bausch Health's preliminary fourth-quarter and full-year 2020
financial results demonstrate that our Company is continuing its
business recovery from the effects of the COVID-19 pandemic driven
by strong execution across our businesses. For the full year of
2020, we anticipate our revenue will outperform the high end of our
latest revenue guidance range, and we also expect a strong finish
to the year with regard to Adjusted EBITDA (non-GAAP)," said
Joseph C. Papa, chairman and CEO,
Bausch Health. "We look forward to
releasing our full financial results for the fourth quarter and
full year of 2020 next month."
Additionally, due to strong cash flow in the fourth quarter of
2020, Bausch Health expects to exceed $1
billion in cash generated from operations for the full year
of 2020. In total, the Company repaid approximately $900 million of debt in 2020 from cash generated
from operations and more efficient cash management, and has no debt
maturities or mandatory amortization payments until 2024.
Bausch Health Will Publish Company Update Presentation on
Jan. 13, 2021 at 7:00 a.m. ET
Bausch Health will
publish a brief company update presentation tomorrow,
Jan. 13, 2021, at 7 a.m. ET, that is designed to complement the
remarks provided by management at the 39th Annual J.P.
Morgan Healthcare Conference. The presentation will provide an
overview of the Company's recent performance and offer insight into
future catalysts for 2021 and beyond.
The presentation will be available on the Investor
Relations page of the Bausch Health Companies Inc. website at:
https://ir.bauschhealth.com/events-and-presentations/2021. A live
webcast and audio archive of the fireside chat will also be
available on the Investor Relations page of the Company's
website.
About Bausch Health
Bausch Health Companies Inc.
(NYSE/TSX: BHC) is a global company whose mission is to improve
people's lives with our health care products. We develop,
manufacture and market a range of pharmaceutical, medical device
and over-the-counter products, primarily in the therapeutic areas
of eye health, gastroenterology and dermatology. We are delivering
on our commitments as we build an innovative company dedicated to
advancing global health. More information can be found at
www.bauschhealth.com.
Forward-looking Statements
This news release contains
forward-looking information and statements, within the meaning of
applicable securities laws (collectively, "forward-looking
statements"), including, but not limited to, statements related to
the Company's preliminary update on fourth-quarter 2020 and
full-year 2020 financial results (including anticipated range of
revenue and expectations regarding adjusted EBITDA) and expected
cash generated from operations. Forward-looking statements may
generally be identified by the use of the words "anticipates,"
"expects," "intends," "plans," "should," "could," "would," "may,"
"believes," "estimates," "potential," "target," or "continue" and
variations or similar expressions, and phrases or statements that
certain actions, events or results may, could, should or will be
achieved, received or taken, or will occur or result, and similar
such expressions also identify forward-looking information. These
forward-looking statements, including the Company's preliminary
update on its 2020 financial results, are based upon the current
expectations and beliefs of management and are provided for the
purpose of providing additional information about such expectations
and beliefs, and readers are cautioned that these statements may
not be appropriate for other purposes. These forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
described in these forward-looking statements. These risks and
uncertainties include, but are not limited to, the risks and
uncertainties discussed in the Company's most recent annual and
quarterly reports and detailed from time to time in the Company's
other filings with the U.S. Securities and Exchange Commission and
the Canadian Securities Administrators, which risks and
uncertainties are incorporated herein by reference. They also
include, but are not limited to, risks and uncertainties caused by
or relating to the evolving COVID-19 pandemic. In addition, certain
material factors and assumptions have been applied in making these
forward-looking statements, including, without limitation,
assumptions regarding our 2020 full-year guidance with respect to
expectations regarding base performance and management's belief
regarding the impact of the COVID-19 pandemic and associated
responses on such base performance and the operations and financial
results of the Company generally, and the assumption that the risks
and uncertainties outlined above will not cause actual results or
events to differ materially from those described in these
forward-looking statements. The Company believes that the material
factors and assumptions reflected in these forward-looking
statements are reasonable in the circumstances, but readers are
cautioned not to place undue reliance on any of these
forward-looking statements. These forward-looking statements speak
only as of the date hereof. Bausch Health undertakes no obligation
to update any of these forward-looking statements to reflect events
or circumstances after the date of this news release or to reflect
actual outcomes, unless required by law.
1 Based on guidance reaffirmed in November 2020.
Investor
Contact:
|
Media
Contact:
|
Arthur
Shannon
|
Lainie
Keller
|
arthur.shannon@bauschhealth.com
|
lainie.keller@bauschhealth.com
|
(514)
856-3855
|
(908)
927-1198
|
(877) 281-6642 (toll
free)
|
|
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SOURCE Bausch Health Companies Inc.