Bausch Health Companies Inc Stock Forecast:
According to one analyst, the average target price for Bausch Health Companies Inc over the next 12 months is CAD 13.00. The average analyst rating for the company is Buy. Stock Target Advisor‘s analysis of Bausch Health Companies Inc indicates a slightly bullish outlook, based on 6 positive signals and 5 negative signals. As of the last closing, the company’s stock price was CAD 10.60. Over the past week, the stock price has increased by +10.88%, while it has decreased by -4.16% over the past month and -1.49% over the last year.
Bausch Health Companies Inc News:
Bausch + Lomb Corporation, a subsidiary of Bausch Health Companies Inc., has recently announced its plans to acquire XIIDRA® (lifitegrast ophthalmic solution) 5% from Novartis. The acquisition will strengthen Bausch + Lomb’s position in the ophthalmic market by adding a non-steroid eye drop specifically designed to treat the signs and symptoms of dry eye disease (DED) associated with inflammation.
The agreement entails Bausch + Lomb, through an affiliate, acquiring XIIDRA, libvatrep, and AcuStream from Novartis for a total sum of up to $2.5 billion. This includes an upfront payment of $1.75 billion in cash, along with potential milestone obligations of up to $750 million based on sales thresholds and pipeline commercialization. Bausch + Lomb will also be taking on the sales force responsible for promoting XIIDRA.
To facilitate the transaction, Bausch + Lomb has secured fully committed financing from J.P. Morgan. The company intends to finance the $1.75 billion upfront cash purchase price through new debt prior to closing. The deal is expected to be completed by the end of 2023, subject to regulatory approval and other customary closing conditions. Upon closing, the acquisition is anticipated to have an immediate positive impact on Bausch + Lomb’s financials.
Analysts Coverage Changes:
- STA Research maintains a “Speculative Buy” rating for Bausch Health Companies and lowers the target to $12 from $15..
- Bank of America Merrill Lynch maintains a “Buy” rating with a target of $23 for (BHC:TSX)
