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BAUSCH HEALTH COMPANIES INC.

(BHC)
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Delayed Nyse  -  04:00 2022-10-06 pm EDT
7.390 USD   -2.51%
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Bausch Health Companies Inc. - Salix Supports CMS Announcement of First ICD-10 Code for Hepatic Encephalopathy (HE)

08/11/2022 | 09:29am EDT

LAVAL, QC - Bausch Health Companies Inc. (NYSE/TSX: BHC) ('Bausch Health') and its gastroenterology business, Salix Pharmaceuticals, ('Salix'), one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal (GI) and liver diseases and disorders, announced its support of the publication of a new specific ICD-10 code from the Centers for Medicare & Medicaid Services (CMS) for hepatic encephalopathy (HE) based on the growing incidence of chronic liver disease in the United States.

Approximately 4.5 million adults in the U.S. have chronic liver disease1. As chronic liver disease progresses towards decompensated cirrhosis, patients may develop comorbid conditions such as portal hypertension, ascites, and hepatic encephalopathy. Up to 80% of people with cirrhosis may develop some form of HE2. HE is also a high driver of hospitalizations and readmissions in patients with decompensated cirrhosis3.

The new K76.82 diagnosis code for patients with HE, a complication of cirrhosis, is based on the International Classification of Diseases, 10th Revision, Clinical Modification (ICD-10-CM) and announced by CMS to be used effective Oct. 1, 2022.

The condition of HE can be misdiagnosed, and the availability of this new ICD-10 code will help health care providers properly document the diagnosis for these patients and thus advance efforts to ensure their clinical management is appropriate.

About Salix

Salix Pharmaceuticals is one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal (GI) and liver diseases and disorders. For more than 30 years, Salix has licensed, developed and marketed innovative products to improve patients' lives and arm health care providers with life-changing solutions for many chronic and debilitating conditions. Salix currently markets its product line to U.S. health care providers through an expanded sales force that focuses on gastroenterology, hepatology, pain specialists and primary care. Salix is headquartered in Bridgewater, New Jersey. For more information about Salix, visit www.Salix.com and connect with us on Twitter and LinkedIn.

About Bausch Health

Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global diversified pharmaceutical company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals and eye health, through our approximately 90% ownership of Bausch + Lomb Corporation. With our leading durable brands, we are delivering on our commitments as we build an innovative company dedicated to advancing global health. For more information, visit www.bauschhealth.com and connect with us on Twitter and LinkedIn.

Forward-looking Statements

This news release may contain forward-looking statements about Bausch Health, which may generally be identified by the use of the words 'anticipates,' 'hopes,' 'expects,' 'intends,' 'plans,' 'should,' 'could,' 'would,' 'may,' 'believes,' 'subject to' and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition, actual results are subject to other risks and uncertainties that relate more broadly to Bausch Health's overall business, including those more fully described in Bausch Health's filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

References

1. Centers for Disease Control and Prevention. Chronic liver disease and cirrhosis. Accessed April 19, 2022. https://www.cdc.gov/nchs/fastats/liver-disease.htm

2. Vilstrup H, Amodio P, Bajaj J, et al. Hepatic encephalopathy in chronic liver disease: 2014 Practice Guideline by the American Association for the Study of Liver Diseases and the European Association for the Study of the Liver. Hepatology. 2014;60(2):715-735.

3. C Chirapongsathorn S, Krittanawong C, Enders FT, et al. Incidence and cost analysis of hospital admission and 30-day readmission among patients with cirrhosis. Hepatol Commun. 2018;2(2):188-198. Published 2018 Jan 18. doi:10.1002/hep4.1137

Contact:

Investor

Christina Cheng

E: ir@bauschhealth.com

T: (514) 856-3855

Media

Kevin Wiggins

E: corporate.communications@bauschhealth.com

T: (908) 541-3785

TOLL FREE: (877) 281-6642

Gianna Scalera

E: salixcommunications@salix.com

T: (908) 541-2110

(C) 2022 Electronic News Publishing, source ENP Newswire

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BAUSCH + LOMB CORPORATION -3.35% 16.18 Delayed Quote.0.00%
BAUSCH HEALTH COMPANIES INC. -2.51% 7.39 Delayed Quote.-73.23%
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Financials (USD)
Sales 2022 8 163 M - -
Net income 2022 -123 M - -
Net Debt 2022 20 860 M - -
P/E ratio 2022 -22,1x
Yield 2022 -
Capitalization 2 668 M 2 668 M -
EV / Sales 2022 2,88x
EV / Sales 2023 2,65x
Nbr of Employees 19 600
Free-Float 95,6%
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Last Close Price 7,39 $
Average target price 13,67 $
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Thomas J. Appio Chief Executive Officer & Director
Tom G. Vadaketh Chief Financial Officer & Executive Vice President
John Alfred Paulson Chairman
Tage Ramakrishna Chief Medical Officer, President-R&D
Robert N. Power Independent Director
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