BUSINESS Bausch Health Companies Inc. Announces ‘Stable’ First-Quarter 2022 Results By Staff Wednesday, May 11, 2022 12:21 AM LAVAL, Quebec—Bausch Health Companies Inc. (NYSE/TSX: BHC) yesterday reported $1.918 billion in total revenue for the first quarter of 2022, as compared to $2.027 billion in the first quarter of 2021, a decrease of $109 million, or 5 percent. Excluding the unfavorable impact of foreign exchange of $41 million and the impact of divestitures and discontinuations of $72 million, primarily due to the divestiture of Amoun Pharmaceutical Company S.A.E. on July 26, 2021, revenue was flat organically when compared to the first quarter of 2021, according to an announcement from the company."Our organic growth in the first quarter of 2022 was stable compared to the same quarter last year, despite incremental macro pressures and a challenging supply chain environment," said Thomas J. Appio, incoming chief executive officer of Bausch Health. "Following the closing of the initial public offering of the Bausch + Lomb eye health business, we will operate as two companies, which enables Bausch Health to increase its focus on accelerating growth with strategic commercial investments and expanding our pipeline with innovative products that improve the quality of life for patients around the world." Bausch + Lomb segment reported revenues were $889 million for the first quarter of 2022, as compared to $881 million for the first quarter of 2021, an increase of $8 million, or 1 percent. Excluding the unfavorable impact of foreign exchange of $29 million and the impact of divestitures and discontinuations of $3 million, the Bausch + Lomb segment increased organically by approximately 5 percent compared to the first quarter of 2021. This was primarily due to higher sales in the global Vision Care business, including Lumify (brimonidine tartrate ophthalmic solution 0.025%), Biotrue Multi-Purpose Solution and Ocuvite/PreserVision, as well as higher sales in the Global Surgical business. Bausch Health's eye health business, Bausch + Lomb, launched its initial public offering and subsequently began trading under the ticker "BLCO" on May 6, 2022 as reported by VMAIL.