Mission Statement, Vision, & Core Values (2024) of Bausch Health Companies Inc. (BHC)

An Overview of Bausch Health Companies Inc. (BHC)

General Summary of Bausch Health Companies Inc. (BHC)

Bausch Health Companies Inc. (BHC), formerly known as Valeant Pharmaceuticals International, Inc., has a rich history rooted in the healthcare sector. The company was founded in 2013 and has undergone significant transformations, including a rebranding in 2018 to reflect its commitment to improving patient health. BHC specializes in pharmaceuticals, medical devices, and over-the-counter products, focusing on areas such as dermatology, eye health, and gastrointestinal health.

As of 2024, Bausch Health's primary product lines include:

• Branded pharmaceuticals
• Generic and branded generic pharmaceuticals
• OTC products
• Medical devices, including contact lenses and ophthalmic surgical equipment

In 2024, Bausch Health reported total sales of approximately $7,066 million for the nine months ended September 30, representing an increase from $6,349 million in the same period in 2023, marking a growth of 11%.

Company's Financial Performance in the Latest Financial Reports

In the latest financial reports for the three months ended September 30, 2024, Bausch Health achieved revenues of $2,510 million, up from $2,238 million in the same quarter of the previous year, reflecting a 12% increase.

Key financial metrics for the three months ended September 30, 2024 include:

• Operating Income: $318 million, compared to $14 million in 2023.
• Net Loss: $85 million, significantly reduced from $378 million in 2023.
• Basic Loss Per Share: $0.23, improved from $1.03 in 2023.

For the nine months ended September 30, 2024, the financial performance highlights are as follows:

• Total Revenues: $7,066 million, up from $6,349 million in 2023.
• Operating Income: $988 million, compared to $601 million in 2023.
• Net Loss: $139 million, a substantial improvement from $553 million in 2023.

The increase in revenues is attributed to higher volumes, incremental sales from acquisitions, and improved net pricing, despite impacts from divestitures and unfavorable foreign currency fluctuations.

Introduction to Company as a Leader in the Industry

Bausch Health Companies Inc. is recognized as a leader in the healthcare industry, particularly in the fields of ophthalmology and dermatology. The company’s commitment to innovation and patient care has positioned it as a significant player among its peers. BHC's diversified portfolio and strategic acquisitions, such as the purchase of XIIDRA®, have bolstered its market presence and revenue streams.

With a focus on improving patient outcomes and a robust product pipeline, Bausch Health continues to drive growth and enhance its competitive edge in the pharmaceutical and medical device sectors. Understanding the dynamics of Bausch Health's operations and market strategies will shed light on its ongoing success and leadership within the industry.

Mission Statement of Bausch Health Companies Inc. (BHC)

Mission Statement of Bausch Health Companies Inc. (BHC)

Bausch Health Companies Inc. (BHC) is committed to transforming the lives of patients through innovative healthcare solutions. The company’s mission statement emphasizes a dedication to delivering high-quality products and services that enhance patient well-being. This mission serves as a guiding principle for the organization, influencing its strategic decisions and long-term goals.

Core Components of the Mission Statement

1. Commitment to Patient Care

Bausch Health prioritizes patient care by focusing on developing and providing innovative healthcare products. In 2024, the company reported revenues of $7,066 million for the first nine months, reflecting an 11% increase compared to $6,349 million in the same period in 2023. This growth is attributed to higher volumes and improved pricing across all segments, showcasing the company's commitment to enhancing patient outcomes through increased accessibility to its products.

2. Innovation and Quality

The mission statement highlights Bausch Health’s emphasis on innovation and quality. The company invests significantly in research and development, with R&D expenses amounting to $453 million for the nine months ended September 30, 2024, compared to $452 million in the same period in 2023. This financial commitment underlines Bausch Health's strategy to advance healthcare solutions through ongoing innovation, ensuring that products meet the highest quality standards.

3. Corporate Responsibility

Bausch Health's mission also encompasses a commitment to corporate responsibility. The company has made strides in sustainability and ethical practices, which are integral to its operational framework. For instance, the company reported a net loss attributable to Bausch Health of $139 million for the nine months ended September 30, 2024, a significant improvement from a net loss of $553 million in the same period in 2023. This turnaround indicates effective management and a focus on responsible business practices that contribute to long-term viability and community trust.

This data illustrates Bausch Health’s ability to enhance its operational performance while remaining true to its mission of delivering high-quality healthcare solutions. The company's focus on patient care, innovation, and corporate responsibility positions it well for future growth and sustainability in the healthcare industry.

Vision Statement of Bausch Health Companies Inc. (BHC)

Vision Statement Overview

Bausch Health Companies Inc. (BHC) aims to improve patient outcomes through innovation and access to healthcare solutions, focusing on a commitment to quality, transparency, and sustainability.

Commitment to Innovation

Bausch Health emphasizes its dedication to innovation, particularly in its core therapeutic areas such as gastrointestinal health, dermatology, and ophthalmology. The company invests significantly in research and development, with total R&D expenses of approximately $453 million for the nine months ended September 30, 2024.

Access to Healthcare Solutions

The company strives to enhance access to its products globally. For the nine months ended September 30, 2024, Bausch Health reported revenues of $7,066 million, an increase of 11% from $6,349 million in the same period of 2023. This growth underlines its effectiveness in expanding market reach and improving accessibility.

Quality and Compliance

Bausch Health is committed to maintaining high standards of quality and compliance across its operations. As of September 30, 2024, all global operations and facilities meet the relevant operational good manufacturing practices standards, ensuring that products are safe and effective.

Transparency and Ethical Practices

Transparency is a core value for Bausch Health, focusing on ethical business practices and clear communication with stakeholders. The company reported a net loss attributable to Bausch Health of $139 million for the nine months ended September 30, 2024, compared to a net loss of $553 million in the prior year. This improvement reflects its commitment to addressing operational challenges while maintaining transparency with investors.

Sustainability and Corporate Responsibility

The company integrates sustainability into its business model, focusing on responsible sourcing and minimizing environmental impact. Bausch Health's ongoing initiatives in sustainability are aimed at reducing carbon footprints and enhancing corporate responsibility, aligning with its vision of a healthier future.

Conclusion of Vision Statement Components

In summary, Bausch Health Companies Inc. remains focused on its vision of enhancing patient outcomes through innovation, accessibility, quality, transparency, and sustainability. The financial performance metrics demonstrate the company's progress towards achieving its vision in 2024.

Core Values of Bausch Health Companies Inc. (BHC)

Integrity

Integrity is a fundamental core value at Bausch Health Companies Inc. (BHC), reflecting its commitment to ethical practices and transparency in all operations. This value is crucial for maintaining trust with stakeholders, including patients, healthcare professionals, and investors.

In 2024, Bausch Health has implemented various programs to uphold integrity, such as enhancing compliance training for employees and establishing a whistleblower hotline to report unethical behavior. In its financial dealings, BHC has focused on transparent financial reporting, evidenced by its detailed quarterly earnings reports, where it reported revenues of $2,510 million for the three months ended September 30, 2024, compared to $2,238 million in the same period of 2023.

Accountability

Accountability at Bausch Health means taking responsibility for actions and outcomes, both in financial performance and corporate governance. This value is essential for ensuring that the company's operations align with its strategic goals and stakeholder expectations.

Bausch Health has demonstrated accountability by regularly updating its investors and the public on its financial health. For instance, the company reported an operating income of $318 million for Q3 2024, a significant increase from $14 million in Q3 2023. Additionally, the company has established a comprehensive risk management framework to identify and mitigate potential risks proactively.

Innovation

Innovation is a driving force behind Bausch Health's product development and operational strategies. The company invests in research and development to create new and improved healthcare solutions, ensuring it meets the evolving needs of patients and healthcare providers.

In 2024, Bausch Health's commitment to innovation was highlighted by its acquisition of XIIDRA® for $1,750 million, which strengthens its portfolio in ophthalmology. The company also allocated $453 million to research and development during the nine months ended September 30, 2024, demonstrating its ongoing investment in innovative healthcare solutions.

Collaboration

Collaboration is vital for Bausch Health, as it fosters teamwork and partnerships that enhance the company's ability to deliver effective healthcare solutions. This value is integral to achieving shared goals and driving collective success.

Bausch Health has engaged in numerous collaborations with healthcare professionals, patient advocacy groups, and other organizations to improve patient outcomes. The company reported revenues of $7,066 million for the nine months ended September 30, 2024, reflecting growth driven by collaborative efforts across its various segments. The Bausch + Lomb segment, in particular, has benefitted from partnerships that enhance its product offerings and market reach.

Respect

Respect is foundational to Bausch Health's corporate culture, guiding interactions with employees, customers, and the communities it serves. The company recognizes that fostering a respectful environment is essential for attracting and retaining top talent.

In 2024, Bausch Health has implemented initiatives aimed at promoting diversity and inclusion within its workforce. This commitment is reflected in its employee engagement programs and community outreach efforts. The company reported a net loss attributable to Bausch Health of $85 million for Q3 2024, indicating its focus on addressing operational challenges while maintaining a respectful and inclusive workplace.

Article updated on 8 Nov 2024

Resources:

• Bausch Health Companies Inc. (BHC) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Bausch Health Companies Inc. (BHC)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Bausch Health Companies Inc. (BHC)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.