Bausch Health Companies Shareholder Engagement Presentation Deck
Overview of Bausch Health
Bausch Pharma² + Solta
Bausch Pharma + Solta: 55% of total,
+1% reported/ +3% organic growth¹ in
2021
80%+ unlevered adjusted free cash flow
conversion¹,4 capability to support future
debt reduction
Strategy: accelerate growth in Salix and
International Pharmaceuticals; increase
product pipeline through R&D/BD; drive
customer adoption of Solta through brand
awareness, geographic expansion
10
BAUSCH- Health
55%
BAUSCH-Health
$8.4 billion sales (2021)
45%
BAUSCH + LOMB
45% of total, +10% reported/ +9% organic
growth¹ in 2021
-89% owned by Bausch Health,
opportunistically monetize an additional
-8% of B+L equity (lock-up period expires
mid-Sept)
Future spin-off subject to 6.5-6.7x net
leverage of pro-forma BHC3
Strategy: grow in large durable markets,
driven by new products, focus on
megatrends and M&A
1. Non-GAAP measure. See appendix for further information on definition and reconciliation of non-GAAP measures.
2. Bausch Health, excluding Solta Medical and BAUSCH + LOMB is referred to as "Bausch Pharma".
3. Subject to market conditions, shareholder, regulatory, stock exchange and other approvals and other factors.
4. Average unlevered adjusted free cash flow conversion (non-GAAP) for the three-year period ended December 31, 2021.View entire presentation