(Laval) Bausch Health reported a $69 million loss in its most recent quarter, compared with a $610 million loss a year earlier when it took an impairment charge related to Ortho Dermatologics operations.
Posted at 8:44 a.m.
The Laval pharmaceutical, which keeps accounts in US dollars, says the loss was 19 cents per share for the quarter ended March 31, compared to a loss of US$1.71 per diluted share in the first quarter of 2021 .
Revenue for the quarter totaled US$1.92 billion, compared to US$2.03 billion in the same quarter last year.
Bausch Health says its adjusted net profit for the first quarter of 2022 was $263 million, up from $370 million a year earlier.
The company said it expects to complete the IPO of its Bausch + Lomb eye health business on Tuesday and remains on track to spin off the business.
Thomas Appio will become CEO of Bausch Health once the IPO closes. Bausch Health’s current CEO, Joseph Papa, will remain chairman until the full separation of Bausch + Lomb, at which time he will be replaced by Robert Power.
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