Bausch Health reports loss

Bausch Health reports loss

Bausch Health Companies Inc. reported a loss of $350 million in its latest quarter as its revenue moved lower.

The company formerly known as Valeant Pharmaceuticals says the loss for the quarter ended Sept. 30 amounted to $1.00 per diluted share.

The result compared with a profit of $1.30 billion or $3.69 per share in the same period a year earlier when it benefited from internal tax reorganization.

Revenue totalled nearly $2.14 billion for the quarter, down from nearly $2.22 billion a year ago.

On an adjusted basis, Bausch Health says it earned $403 million in its most recent quarter, up from $367 million in the third quarter of 2017.

The company says the increase was primarily due to lower interest costs and a lower tax rate.

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