LAVAL, QC - Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) announced today the Health Canada approval of PrCABTREOTM, a novel triple-combination gel for the treatment of acne vulgaris in patients aged 12 and older. This marks the introduction of the first triple-combination topical acne medication in Canada, combining clindamycin phosphate, adapalene, and benzoyl peroxide.
The new treatment, which will be available in Canadian pharmacies in the fourth quarter of this year, offers a once-daily application to the affected skin areas. Clinical trials have demonstrated significant treatment success, with about 50% of patients achieving treatment success and a more than 70% reduction in both inflammatory and non-inflammatory lesions at Week 12.
Amy Cairns, Vice-President, Commercial and General Manager, Canada, at Bausch Health, emphasized the company's ongoing dedication to advancing dermatological treatments for Canadians. Dr. Jerry Tan, a dermatologist involved in the studies, highlighted the treatment's unique combination of active ingredients and its convenience for patients.
The most common side effects of CABTREO are mild to moderate application site reactions, and it is not recommended for use by individuals with certain medical conditions or by pregnant women. The product is also noted for its potential to bleach hair and colored fabric.
Acne vulgaris is the most prevalent skin condition in Canada, affecting nearly 20% of the population. The psychological and social impacts of acne make the availability of effective treatments vital.
Bausch Health, Canada, has a significant presence in the dermatology sector, with CABTREO being the fourth new treatment approved by Health Canada in the past four years. These products are part of the company's comprehensive dermatology portfolio and are manufactured in Laval, Quebec, for both Canada and the United States.
The information in this article is based on a press release statement from Bausch Health Companies Inc.
"In other recent news, Bausch Health Companies Inc. has reported second-quarter earnings for 2024, posting a diluted non-GAAP EPS of $0.89 on revenue of $2.4 billion, in line with consensus estimates. The company also reiterated its 2024 revenue and adjusted EBITDA guidance ranges for the Pharma business. Bausch Health's Q2 revenue marked a 5% increase on a reported basis and a 6% increase organically. However, Piper Sandler downgraded Bausch Health's stock rating from Neutral to Underweight, citing concerns about the company's significant debt obligations and the impending loss of exclusivity for its key drug, Xifaxan. The firm also reduced the price target for the company's shares to $3.00, a significant decline from the previous target of $9.00. Despite these challenges, Bausch Health maintains its full-year guidance with expected revenue between $4.7 billion and $4.85 billion and adjusted EBITDA from $2.36 billion to $2.46 billion. These are some of the recent developments concerning Bausch Health Companies Inc."
InvestingPro Insights
Bausch Health Companies Inc. (NYSE:BHC) has shown a strong commitment to expanding its dermatology portfolio, and recent developments may influence its market performance. According to InvestingPro data, Bausch Health has a market capitalization of $2.29 billion and has been experiencing revenue growth, with a 10.2% increase in the last twelve months as of Q2 2024. This is further reinforced by a quarterly revenue growth of 10.89% in Q2 2024. The company's gross profit margin stands at a healthy 70.8%, indicating a strong ability to translate sales into profit.
InvestingPro Tips highlight that management at Bausch Health has been actively buying back shares, a signal that could indicate confidence in the company's future prospects. Additionally, while analysts have revised their earnings expectations downwards for the upcoming period, they also predict the company will become profitable this year. This is a crucial point for investors, as profitability can significantly impact stock performance.
InvestingPro data also reveals that the company does not pay a dividend, which may be relevant for income-focused investors. However, the strong return over the last month, with a 15.31% price total return, suggests that Bausch Health's stock has been gaining traction with investors recently. For those interested in the company's future performance, Bausch Health's next earnings date is scheduled for October 31, 2024.
For readers looking for more in-depth analysis and additional InvestingPro Tips on Bausch Health Companies Inc., there are currently 6 additional tips available at: https://www.investing.com/pro/BHC. These tips could provide further insights into the company's financial health and future outlook, helping investors make more informed decisions.
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