Bausch Health, a specialty pharmaceutical company based in Laval, Quebec, announced its financial results for the fourth quarter of 2023, demonstrating positive growth and improved performance.
Improved Financial Performance
- The fourth-quarter loss narrowed to $39 million, or 11 cents a share, a significant improvement from the previous year’s loss of $410 million.
- Adjusted EBITDA increased to $869 million, up from $823 million in the same period last year, exceeding analysts’ expectations of $837.8 million.
- Total revenues grew by 10% to $2.41 billion, surpassing analysts’ estimates of $2.29 billion.
Continued Growth Momentum
- Bausch Health anticipates sustained growth momentum in 2024, with revenue projections ranging from $9.3 billion to $9.55 billion and adjusted EBITDA expected to be between $3.2 billion and $3.35 billion.
- In comparison, the company reported revenues of $8.76 billion and adjusted EBITDA of $3.01 billion in 2023.
Future Outlook and Priorities
“We are excited about the positive momentum in our business as we enter 2024 and will continue to prioritize advancing our pipeline, investing in initiatives to continue to drive growth, and positioning the Company for long-term success,” stated Chief Executive Thomas Appio.
As Bausch Health forges ahead with its strategic initiatives and commitment to innovation, the company remains poised for further success in the pharmaceutical industry.