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BHC - Bausch Health: An Inline Quarter But Its Debt Leverage Is Still A Concern
Bausch Health Companies Inc.
Investment Thesis
Bausch Health Companies (BHC) delivered an inline Q2 2019 with modest top and bottom lines growth. The company has a portfolio of diversified products that should continue to deliver growth despite losses of exclusivity in a few products in the near-term. However, it has a leveraged balance sheet that will prevent it from pursuing large acquisitions to grow its business. In addition, its high debt level may also prevent the company from allocating enough R&D resources to develop new drugs and products in the long-term. Given its its leveraged balance sheet,