BHC - A Podcast from Joe's Pros

Bausch Health Companies Inc

Healthcare, Event Driven/Special Sit


Presented:12/24/2020
Price:$20.27
Cap:$7.20B
Current Price:$8.39
Cap:$3.08B

Presented

Date12/24/2020
Price$20.27
Market Cap$7.20B
Ent Value$27.98B
P/E RatioN/A
Book Value$1.65
Div Yield0%
Shares O/S355.15M
Ave Daily Vol3,636,487
Short IntN/A

Current

Price$8.39
Market Cap$3.08B
Bausch Health Cos., Inc. engages in the development, manufacture, and market of a range of branded, generic and branded generic pharmaceuticals, medical devices and over-the-counter products. It operates through the following segments: The Bausch + Lomb/International, Salix, Ortho Dermatologics and Diversified Products. The Bausch + Lomb/International segment consists of the sale of pharmaceutical products, over-the-counter products, and medical devices products. The Branded Rx segment comprises of pharmaceutical products related to the Salix product portfolio; dermatological product portfolio; branded pharmaceutical products, branded generic pharmaceutical products; over-the-counter products; medical device products; Bausch + Lomb products sold in Canada; and the oncology, dentistry, and health products for women. The Salix Segment consists of sales in the U.S. of GI Products, The Ortho Dermatologics segment consists of sales in the U.S. of Ortho Dermatologics (dermatological) products and global sales of Solta medical aesthetic devices. The Diversified Products segment consists of sales in the U.S. of pharmaceutical products in the areas of neurology and certain other therapeutic classes, in the U.S. of generic products, in the U.S. of dentistry products. The company was founded on March 29, 1994 and is headquartered in Laval, Canada.

Highlights

00:00 - Intro

00:31 - Business overview

02:23 - The set up from here

02:54 - SOTP story

05:31 - SOTP valuation

08:12 - Second portion of the thesis (COVID-19 recovery)

10:27 - Execution Risk 

11:40 - Durability of the legacy business

14:29 - Involved in BHC credit? 

14:54 - Comps (Alcon and CooperVision)

16:06 - Upcoming January presentation at JPMorgan

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