Paulson Capital increases stake in Bausch Health to 19.13%

NEW YORK - Paulson Capital Inc. and its affiliates have acquired the 34.7 million common shares previously held by Carl C. Icahn and his affiliates in Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC), according to a company statement released Friday. The transaction comes as Bausch Health shows strong momentum, with the stock surging over 30% in the past week, according to InvestingPro data.

Following the transaction, Paulson Capital now owns approximately 19.13% of Bausch Health’s outstanding common shares. The pharmaceutical company was not involved in any agreement or arrangement related to these transactions.

As a result of Icahn Group’s ownership falling below a specified threshold, the Director Appointment and Nomination Agreement dated February 23, 2021, between Bausch Health and Icahn Group has terminated. Brett M. Icahn and Steven D. Miller have resigned from the company’s Board of Directors.

John A. Paulson, Chairperson of the Bausch Health Board, expressed confidence in the company’s efforts to maximize shareholder value and excitement about business prospects for both Bausch Health and its subsidiary, Bausch + Lomb Corporation.

Bausch Health Companies is a global pharmaceutical company focused on gastroenterology, hepatology, neurology, dermatology, dentistry, aesthetics, international pharmaceuticals, and eye health through its controlling interest in Bausch + Lomb Corporation.

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 reported second-quarter earnings that significantly exceeded analyst expectations. The company posted adjusted earnings per share of $0.40, far surpassing the analyst consensus of $0.04. Revenue for the quarter reached $2.53 billion, beating estimates of $2.48 billion and showing a 5% increase from $2.40 billion in the same quarter last year. These results have been met with a positive response from investors. Additionally, the company’s strong performance and upbeat outlook have contributed to the positive sentiment. Analysts have taken note of these developments, though specific upgrades or downgrades were not mentioned in the recent reports. These recent developments highlight Bausch Health’s strong position in the market.

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