Bausch Health

What Bausch Health does

Bausch Health Companies Inc. is a diversified specialty pharmaceutical and medical device company headquartered in Laval, Quebec, Canada, with U.S. operations based in Bridgewater, New Jersey. The company develops, manufactures, and commercializes prescription drugs, medical aesthetic devices, and consumer health products across six therapeutic franchises: gastroenterology/hepatology (Salix Pharmaceuticals, anchored by Xifaxan, the only FDA-approved therapy for hepatic encephalopathy), medical aesthetics (Solta Medical, marketing Thermage radiofrequency, Fraxel laser, and Clear + Brilliant systems), dermatology (Ortho Dermatologics, including Retin-A and Biafine), dentistry (OraPharma, anchored by ARESTIN), eye health (the 88%-owned Bausch + Lomb subsidiary), and international pharmaceuticals and generics. Core technology platforms include rifaximin-based small molecules, energy-based aesthetic devices (radiofrequency and fractional laser), ophthalmic formulations and surgical devices, and topical dermatology emulsions. The next-generation rifaximin SSD (amorphous solid dispersion) successor failed Phase III RED-C trials in January 2026, removing a projected $2B+ peak revenue opportunity ahead of Xifaxan's 2028-2029 patent expiration.

Bausch Health generates revenue through multiple go-to-market motions that vary by segment. Prescription pharmaceuticals (Xifaxan, Trulance, ARESTIN, Retin-A, Jublia) are sold primarily through enterprise field sales to healthcare providers, hospitals, and pharmacy distribution networks. Solta Medical aesthetic devices are sold direct to physicians and medical aesthetics clinics globally, with consumables and service revenue attached. Consumer dermatology products (Biafine) are distributed direct-to-consumer via Amazon and the Ortho Dermatologics Direct e-commerce platform as well as through dermatology practices. Bausch + Lomb distributes contact lenses, surgical devices (cataract IOLs), and ophthalmic pharmaceuticals through eye-care professionals and optical retailers. Internationally, the company distributes through regional channel partners, having recently acquired its longtime China distributor (Shibo Group) to directly control aesthetics distribution in that market.

In FY2025 the company generated $10.27B in revenue (+7% YoY) and reported Q1 2026 revenue of $2.52B (+12% YoY), representing twelve consecutive quarters of year-over-year revenue and adjusted EBITDA growth. Q1 2026 adjusted EBITDA reached $837M (+27% YoY) with adjusted EPS of $0.78. The company carries approximately $20-21B in long-term debt, having completed a $1.68B debt exchange in December 2025 extending maturities to 2032, and is evaluating monetization options for its 88% stake in Bausch + Lomb. The portfolio spans gastroenterology, dermatology/aesthetics, eye health, dentistry, neuroscience, and international pharmaceuticals across more than 90 countries.

Name

Bausch Health

Legal name

Bausch Health Companies Inc.

Website

https://bauschhealth.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Bausch Health is a diversified pharmaceutical and medical device company that develops and markets prescription drugs, medical aesthetic devices, and consumer health products across gastroenterology, dermatology, eye health, dentistry, and aesthetics. Founded in 2011, the company serves healthcare providers and consumers globally.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals

NAICS

Drugs and Druggists' Sundries Merchant Wholesalers (42421), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Perfumes, Cosmetics & Other Toilet Preparations (2844), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Dermatology & Aesthetics Pharmaceuticals (HLAIAAAK)

akta.pro secondary industries

Dermocosmetics & Medical-Grade Skincare (CRABAAAF), Dermatology OTC & Skin Health (Acne Treatments, Eczema/Psoriasis OTC, Antifungals, Wart Removal) (CRADAMAF), Professional Skincare & Facial Treatments (CRABALAF), Dermatology Specialty Pharmaceuticals (HLAIACAL)

Keywords

• Specialty pharmaceuticals
• Gastroenterology therapeutics
• Ophthalmic products
• Dermatology treatments
• Medical aesthetic devices

Headquarters

HQ city

Laval

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Marketing or Sales, Supply Chain, Technology or R&D, Operations, Others

Revenue model

1. Specialty Pharmaceuticals (Prescription Drugs): Bausch Health generates the majority of revenue from prescription pharmaceutical products across gastroenterology (Xifaxan), dermatology (Ortho Dermatologics), neuroscience, dental (OraPharma/ARESTIN), and international pharmaceuticals. These are primarily prescription drugs sold to healthcare providers and through pharmacies.
2. Bausch + Lomb Eye Health: Bausch + Lomb (88%-owned subsidiary) contributes substantial revenue through vision care (contact lenses, solutions), surgical products (cataract surgery devices, IOLs), and pharmaceuticals. Bausch + Lomb reported Q1 2026 revenues of $1,244 million. The subsidiary is evaluating monetization options for Bausch Health's 88% equity stake.
3. Aesthetic Medical Devices (Solta Medical): Solta Medical sells aesthetic devices including Thermage, Clear + Brilliant, and Fraxel systems to physicians and medical aesthetics clinics globally. Revenue from device sales plus service and consumables. Solta Medical reported 51% revenue growth in Q1 2026 with China revenue up 193% following Xibo distributor acquisition integration.
4. Consumer/OTC Dermatology Products: Consumer dermatology products including Biafine Skin Recovery Emulsion sold directly to consumers through Amazon, Ortho Dermatologics Direct e-commerce platform, and through dermatology practices. Also includes International Pharmaceuticals and Generics segments.

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Bausch Health develops, manufactures, and markets specialty prescription pharmaceuticals, medical devices, and consumer health products across five core therapeutic franchises: gastroenterology/hepatology (Salix, including Xifaxan and Trulance), ophthalmology and vision care (Bausch + Lomb — contact lenses, lens care, cataract surgery devices, ophthalmic pharmaceuticals), medical aesthetics (Solta Medical — Thermage, Clear + Brilliant, Fraxel devices), dermatology (Ortho Dermatologics — Retin-A, Jublia, Biafine), and dental therapeutics (OraPharma — ARESTIN). Products are sold to healthcare providers, hospitals, pharmacies, physicians and aesthetic clinics, eye-care professionals, and dental professionals, with select consumer skincare sold direct-to-consumer via e-commerce.

Product overview

Bausch Health operates as a diversified pharmaceutical and medical device company organized around several core therapeutic areas and brands. The company structures its portfolio through subsidiary brands including Bausch + Lomb (eye health/ophthalmology), Salix (gastroenterology with Xifaxan), Solta Medical (aesthetic medical devices including Thermage, Fraxel, and Clear + Brilliant laser systems), Ortho Dermatologics (dermatology with Retin-A and Jublia), and OraPharma (dental health with ARESTIN). The company also offers generic pharmaceuticals and over-the-counter products including Biafine skincare. Products range from prescription pharmaceuticals to medical devices and consumer health items, with the Solta Medical aesthetic device subsidiary acquiring Wuhan Shibo Zhenmei Technology in December 2025 to expand China distribution capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Bausch + Lomb: Eye health, vision care, surgical, and pharmaceutical products for eye conditions
• Salix Pharmaceuticals
• Solta Medical
• Ortho Dermatologics
• OraPharma
• International Pharmaceuticals
• DURECT Corporation

Products and services

• Xifaxan (rifaximin) Prescription rifaximin-based medication approved as the only FDA-approved therapy for hepatic encephalopathy in the U.S., and also approved for irritable bowel syndrome with diarrhea (IBS-D). Sourced as a gut-selective antibiotic and dispensed to patients via gastroenterologists, hepatologists, hospital pharmacies, and specialty pharmacy channels.
• Trulance (plecanatide) Prescription drug for irritable bowel syndrome marketed by Bausch Health, sold to gastroenterologists and patients via pharmacy distribution in the U.S.
• Biafine Skin Recovery Emulsion Over-the-counter lightweight skin-barrier support emulsion first developed in France in 1971, designed for dry, sensitive, or stressed skin and skin recovery; recommended through dermatology practices and sold direct-to-consumer through Amazon and Ortho Dermatologics Direct.
• Thermage FLX (Thermage radiofrequency system) Non-invasive radiofrequency skin-tightening and smoothing system in the Thermage platform, FDA cleared and Health Canada cleared. Sold to physicians, plastic surgeons, dermatologists, and medical-aesthetics clinics globally through Solta Medical's direct sales channel, including direct distribution in China via the acquired Shibo Group.
• Clear + Brilliant Touch Dual-wavelength fractional laser system for preventive and corrective non-invasive skin rejuvenation, sold to physicians and medical-aesthetics clinics through Solta Medical (Bausch Health).
• Fraxel FTX (Fraxel laser resurfacing system) Fractional laser treatment system for skin resurfacing, pigmentation correction, and scar treatment, including the Fraxel FTX platform; sold to physicians and medical-aesthetics clinics globally by Solta Medical.
• Retin-A Cream Topical retinoid prescription treatment for acne vulgaris that promotes skin cell turnover and reduces acne lesions; marketed by Ortho Dermatologics to dermatologists and prescribing clinicians.
• Jublia (efinaconazole) Prescription topical antifungal solution for the treatment of onychomycosis (fungal nail infections) of the toenails, marketed by Ortho Dermatologics to dermatologists and podiatrists.
• ARESTIN (minocycline HCl Microspheres) Antibiotic microspheres formulation (minocycline HCl) for the treatment of adult periodontitis, applied directly into periodontal pockets in combination with scaling and root planing; the only FDA-approved locally applied antibiotic for this indication. Sold via OraPharma (Bausch Health) to dental professionals.
• Bausch + Lomb Vision Care portfolio (including Miebo) Bausch + Lomb product lines spanning Vision Care (contact lenses, lens care solutions), Surgical (cataract surgery devices, intraocular lenses), and Ophthalmic Pharmaceuticals, including Miebo for dry eye treatment. Sold via the Bausch + Lomb subsidiary (88%-owned by Bausch Health) to eye-care professionals, optical retailers, ambulatory surgery centers, and pharmacy channels worldwide.
• PrOKEDI (Risperidone for extended-release injectable suspension) Extended-release injectable risperidone antipsychotic product for the treatment of schizophrenia, distributed by Bausch Health Canada and covered under negotiated public drug plan agreements.

Quantifiable outcome

• Q1 2026 revenue of $2.52 billion, up 12% year-over-year
• +5 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• MSN LaboratoriesminorStrategic or Co-development Partner · 6 April 2026Bausch Health and MSN Laboratories settled their New Jersey patent dispute over the irritable bowel drug Trulance through a confidential agreement. The settlement allows MSN to retain its patent challenge and lifts a 30-month regulatory stay that had been blocking FDA approval of its proposed generic version.
• Pan-Canadian Pharmaceutical Alliance (pCPA)coreGTM or Marketing Partner · 11 March 2026Bausch Health, Canada Inc. and the pan-Canadian Pharmaceutical Alliance signed a letter of intent for public drug plan coverage of PrOKEDI (Risperidone for extended-release injectable suspension) for the treatment of schizophrenia, announced June 2026.
• Case Western Reserve University and University HospitalsminorStrategic or Co-development Partner · 13 January 2026Cleveland researchers from Case Western Reserve University and University Hospitals launched a clinical study on how nail fungus (onychomycosis) affects athletic performance, in partnership with Ortho Dermatologics. The six-month study will recruit 100-200 collegiate and professional athletes to develop improved prevention, diagnosis, and treatment strategies.
• UH Drusinsky Sports Medicine InstituteminorStrategic or Co-development Partner · 13 January 2026Partnered with Ortho Dermatologics and Case Western Reserve/University Hospitals on a clinical study examining nail fungus impact on athletic performance. The research may benefit military personnel and other groups facing similar risks from repetitive foot trauma and shared equipment.
• Wuhan Shibo Zhenmei Technology Co., Ltd. (Shibo Group)coreChannel Partner/ Reseller/ Distributor · 1 December 2025Bausch Health's Solta Medical acquired its longtime distribution partner, the Shibo Group, to expand its presence in China. The acquisition transforms the distributor relationship into a direct ownership structure, giving Solta Medical direct control over aesthetics distribution in China. China revenue surged 193% in Q1 2026 following the integration.
• U.S. State Attorneys General (48 states and territories)minorOthers · 1 October 2025Bausch Health US LLC and Bausch Health Americas Inc. agreed to pay $17.85 million to settle allegations by 48 states and territories that they conspired to fix prices for generic drugs. This settlement resolved claims related to anticompetitive pricing practices in the generic drug market.
• DURECT CorporationcoreStrategic or Co-development Partner · 11 September 2025Bausch Health completed the acquisition of DURECT Corporation in Q3 2025, expanding its late-stage liver disease portfolio. The acquisition strengthens Bausch Health's hepatology pipeline and commitment to developing innovative solutions for patients with liver disease. DURECT's lead product candidate (LOSCD) was intended to complement the rifaximin franchise.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Galderma: Galderma is a pure-play dermatology company (spun off from Nestlé in 2024) with prescription and consumer dermatology products including aesthetic injectables, therapeutic dermatology, and skin care. Directly comparable to Bausch Health's Ortho Dermatologics and Solta Medical aesthetics businesses.
• AbbVie (Allergan Aesthetics): AbbVie acquired Allergan in 2020 and operates a significant medical aesthetics business (Botox, CoolSculpting, Juvéderm) directly competing with Solta Medical's Thermage/Fraxel/Clear + Brilliant portfolio. Also overlaps in gastroenterology and specialty pharmaceuticals.
• Endo International: Endo International is a specialty pharmaceutical company with significant history of debt, generic drug exposure, and regulatory/legal issues, including past opioid-related liabilities. Similar business model and financial profile to Bausch Health's specialty pharma + generics approach.
• Mallinckrodt plc: Mallinckrodt is a specialty pharmaceutical company that has historically carried very high debt levels, faced opioid and Acthar Gel-related legal challenges, and operates across specialty brands and generics. Highly comparable to Bausch Health in business model, leverage profile, and legacy legal issues.
• Cynosure (Hologic): Cynosure, a Hologic subsidiary, is a leading medical aesthetic device company offering energy-based systems for body contouring, skin revitalization, and hair removal. Directly comparable to Solta Medical's Thermage, Fraxel, and Clear + Brilliant aesthetic device portfolio.

Broad incumbents

• Bayer (Consumer Health & Pharma): Bayer operates a global pharmaceutical and consumer health business with dermatology products, OTC skincare, and prescription pharmaceuticals across multiple therapeutic areas. Comparable to Bausch Health's diversified pharma and consumer dermatology model.
• Johnson & Johnson: J&J's Innovative Medicine and MedTech segments include immunology, gastroenterology (Stelara), and medical aesthetics businesses through its Consumer Health portfolio. Broad incumbent comparable to Bausch Health's diversified pharmaceutical and medical device structure.
• Sanofi: Sanofi operates a diversified pharmaceutical portfolio with significant gastroenterology, dermatology, and consumer healthcare businesses, including Dupixent. Comparable as a broad specialty pharmaceutical peer with consumer health and aesthetics exposure.
• Sun Pharmaceutical Industries: Sun Pharma is a major global specialty pharmaceutical and generics company with significant dermatology presence (Taro Pharmaceutical subsidiary) and gastroenterology products. Comparable in scale and business mix to Bausch Health's specialty pharma + generics + international segments.

Emerging players

• Cutera: Cutera is an aesthetic device company offering laser, light, and energy-based systems for skin rejuvenation, body contouring, and vascular treatments. Direct competitor to Solta Medical in the medical aesthetics device category.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/bauschhealth
• LinkedInlinkedin.com/company/bausch-health-companies

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries10 records

Funding overview

Funding rounds6 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A26 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bausch Health