Latest News Bausch Health Reports Increase in Full-Year 'Organic' Revenue for First Time Since 2015 By Staff Tuesday, February 26, 2019 12:18 AM LAVAL, Quebec—Bausch Health Companies Inc. (NYSE/TSX: BHC), formerly known as Valeant, reported that its fourth-quarter revenue declined 2 percent to $2.12 billion, but increased 1 percent on an organic basis. The company also noted that overall revenue in fiscal 2018 rose 2 percent on an organic basis, which marked the first year of total company organic revenue growth since 2015. All four quarters in 2018 saw organic revenue growth, the company’s announcement late last week noted.Joseph C. Papa, chairman and chief executive officer, said in the announcement that 2018 was “a strong year for Bausch Health as we delivered organic revenue growth across the entire company, while reducing our total debt by more than $1 billion and strategically investing in our core businesses.”Total reported revenues for 2018 were $8.38 billion, a decline of 4 percent (or $344 million) from the prior year’s total of $8.72 billion. Excluding the impact of the 2018 divestitures and discontinuations of $541 million and the favorable impact of foreign exchange of $18 million, revenue grew organically by 2 percent compared with the full year of 2017, driven in part by the Bausch + Lomb/International segment, according to last week’s Bausch Health announcement.Bausch Health reported a net loss of $344 million (GAAP basis) and adjusted EBITDA of $858 for the fourth quarter. For fiscal 2018, the net loss totaled $4.14 billion (GAAP) and adjusted EBITDA was $3.47 billion, according to the announcement. "As Bausch Health now pivots to offense, we will continue to focus on multiple key launches, including our ‘significant seven’ products,” Papa added. “Additionally, we will increase our investment in R&D to enable us to develop and bring to market more products that help improve the lives of patients globally.” In the Bausch + Lomb/International segment (which includes the company’s contact lens business and comprises about 56 percent of total revenue), revenue fell by 3 percent to $4.66 billion in 2018, primarily due to the impact of divestitures and discontinuations. However, revenue in this segment grew organically by 4 percent compared with 2017, due to organic growth across all businesses in the segment, according to the announcement. Among the 2018 highlights cited by the company were the launch of multiple products, including Lumify eye drops and Aqualox silicone hydrogel, or SiHy, daily contact lenses, which launched in Japan in September 2018. Lumify, which launched in May 2018, achieved a weekly market share of approximately 28 percent, according to the announcement. In the fourth quarter, revenue in the Bausch + Lomb/International segment totaled $1.2 billion, an increase of $1 million. Excluding the impact of divestitures and discontinuations and the unfavorable impact of foreign exchange, the segment grew organically by approximately 5 percent compared with the year-ago period, according to the announcement. For 2019, Bausch Health said its revenue guidance for the full year falls in the $8.3 billion to $8.5 billion range. In addition, the company noted that it repaid approximately $400 million of debt in the fourth quarter of 2018, and repaid more than $1 billion of debt overall last year, using cash generated from operations.