Bausch Health says annual revenue will exceed guidance, stock gains

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Bausch Health Corp. shares gained more than 5% in after-hours trading Tuesday after the company announced that its annual revenue will come in higher than its guidance. Bausch Health, formerly known as Valeant Pharmaceuticals before a scandal that led to large-scale changes at the company, said that fourth-quarter revenue would top $2.2 billion and lead annual sales to come in higher than the top end of its guidance range, $8 billion. “We also expect a strong finish to the year with regard to Adjusted Ebitda,’ Chief Executive Joseph Papa said in a statement, without providing any figures on profit. The disclosure arrived before Bausch executives speak Wednesday morning at the JP Morgan Healthcare Conference on recent accomplishments; full results are expected to be released next month. Bausch stock closed with a 0.1% decline at $23.47, and topped $25 in after-hours trades following the release of the information.
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