Bausch Health Companies Inc. reported a revenue increase of 12% for the first quarter of 2026, reaching $2.524 billion compared to $2.259 billion in the same period last year. This growth was primarily driven by improved net realized pricing, favorable foreign currency impacts, and incremental sales from acquisitions. However, the company also faced challenges, including lower volumes and the effects of divestitures and discontinuations. The operating loss for the quarter was $950 million, a significant decline from the operating income of $276 million reported in the first quarter of 2025, largely due to a goodwill impairment charge of $1.426 billion related to the Salix reporting unit.
The company's financial performance was impacted by several factors, including a $1.426 billion goodwill impairment, which was attributed to the failure of two Phase 3 clinical trials for its rifaximin product aimed at preventing overt hepatic encephalopathy. Additionally, the company incurred restructuring and integration costs of $13 million, up from $1 million in the previous year, as it continues to streamline operations. Interest expenses also rose to $402 million from $330 million, reflecting higher effective interest rates on refinanced debt.
Bausch Health has been active in strategic acquisitions, including the purchase of Wuhan Shibo Zhenmei Technology Co., Ltd. in December 2025, which expanded its distribution capabilities in China. The company also acquired DURECT Corporation in September 2025, focusing on developing therapies for alcohol-associated hepatitis. These acquisitions are part of Bausch Health's broader strategy to enhance its product portfolio and drive growth in its core therapeutic areas.
Operationally, the company reported mixed results across its segments. The Salix segment, which includes the Xifaxan product line, saw revenues increase by 18% to $639 million, while the International segment grew by 9% to $285 million. The Solta Medical segment experienced a significant revenue increase of 51%, reaching $171 million, largely due to the acquisition of Shibo Zhenmei. Conversely, the Diversified segment's revenue decreased by 10% to $185 million, primarily due to lower volumes in its neuroscience and dermatology businesses.
Looking ahead, Bausch Health is focused on completing the separation of its eye health business, Bausch + Lomb, which is expected to create two independent entities better positioned to pursue their respective growth strategies. The company continues to evaluate its capital structure and may consider refinancing or restructuring its debt to improve liquidity and financial flexibility. Despite the challenges faced in the first quarter, Bausch Health remains committed to enhancing patient access to its products and investing in sustainable growth drivers.
About Bausch Health Companies Inc.
Bausch Health Companies Inc. is a global specialty pharmaceutical and medical device company focused on gastroenterology, hepatology, neurology, dermatology, and eye health through its majority-owned Bausch + Lomb subsidiary. It develops, manufactures, and markets branded, generic, and OTC pharmaceuticals, aesthetic medical devices, and eye care products across approximately 90 countries. The company leverages a diversified portfolio, extensive R&D, and a broad commercial footprint targeting healthcare providers, patients, and consumers worldwide.
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