Bausch Health Companies Inc - Chairman and CEO, John C Papa
Chairman and CEO, John C Papa
Source: The Globe and Mail
  • Bausch Health Companies (TSX:BHC) has released a number of initiatives to produce and donate medical supplies in the fight against COVID-19
  • Bausch is seeking emergency access designations from European countries to enable the company to donate medicine and antibiotics
  • The company is also re-evaluating its catalogue to find products that are potentially beneficial to COVID-19 patients
  • Furthermore, the company is re-tailoring its China-based production facility to produce hand sanitiser for health care providers, first responders and volunteers
  • Bausch Health Companies (BHC) is up 6.73 per cent, with shares trading for C$20.62 and a market cap of $5.03 billion. 

Infamous Canadian pharmaceutical giant, Bausch Health Companies (TSX:BHC), is ramping up its efforts to combat the global COVID-19 pandemic.

With case numbers still growing in Europe and the US, the company has released a number of initiatives to improve medical supplies to these regions.

Bausch was famously embroiled in a price-fixing and stock inflation scandal under the previous CEO,  J. Michael Pearson. It seems the company is eager shake off its public perception with numerous donation plans over the coming weeks.

To this end, Bausch is seeking emergency access designations from European countries, to enable overseas medical donations. Bausch is already donating its antiviral products to Italian hospitals short on supplies.

The company is continuing to re-evaluate its present catalogue for products that could aid COVID-19 patients. This includes medication that treats symptoms of gastrointestinal stress, which can be caused by coronavirus.

Furthermore, Bausch is converting its China-based production facility to produce hand sanitiser. The company plans to donate the sanitiser to health care providers, first responders and volunteers.

The company is also revamping its Patient Assistance Program, which is designed to help US patients without health care access medications.

With many doctors now unavailable for prescription bookings, Bausch is increasing the program to maintain the public’s access to uninterrupted medications.

Joseph C. Papa, Chairman and CEO of Bausch Health, believes initiatives like this will allow the company to meet the global challenge presented by COVID-19.

“In line with our mission of improving people’s lives with our health care products, we will continue to seek opportunities to offer support and aid to the institutions, patients and health care providers battling this pandemic,” he said.

Bausch Health Companies (BHC) is up 6.73 per cent, with shares trading for C$20.62 at 2:25pm EST. 

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