Bausch Health Announces First Quarter 2024 Results

Bausch Health Companies Inc. reported a successful first quarter for 2024, with a noticeable increase in revenues and a reduction in net losses. The pharmaceutical giant announced total revenues of $2.15 billion, marking an 11% rise from the previous year. Organic growth was also strong, showing an 8% increase.

The company's Adjusted EBITDA rose by 13% to $665 million. Significant developments included a favorable appeal decision in the Xifaxan® case, pivotal for Bausch Health's ongoing strategy and its operational separation from Bausch + Lomb.

Despite these positive outcomes, the company recorded a GAAP net loss of $64 million, which is nevertheless an improvement over the previous year's $201 million loss. This decline in net loss is attributed mainly to higher operating income and a gain from extinguishing debt.

Key products such as Xifaxan® and new launches like CABTREO® for acne treatment contributed to revenue growth across various business segments. The company also continued to advance its pipeline, with several significant R&D achievements noted during the quarter.

Bausch Health reaffirmed its revenue and adjusted EBITDA guidance for the full year, anticipating continued growth and financial improvement in 2024.