Citron Calls Bausch Health — Formerly Valeant — The ‘Textbook Turnaround’

Three years after Citron Research called Valeant the “pharmaceutical Enron,” the firm said Tuesday that it’s time to give Valeant successor Bausch Health Companies Inc the credit it is due for its rebranding and turnaround efforts.In the past three years alone, management has paid down about $8 billion in debt, vastly improving the company’s balance sheet and putting them in a position of financial flexibility.

“In 2019, the debt has become manageable and the company is gaining momentum with recent, successful launches of new drugs, consistent with its ‘pivot to the offense,’” Left said.

Reported by Benzinga