Valeant Pharmaceutical recently completed its rebrand, becoming Bausch Health to reflect the success of its flagship division, Bausch and Lomb.
Bausch Health CEO Joseph Papa spoke to the Rochester Democrat & Chronicle on the name change and the company's future.
Here are three insights from Mr. Papa:
1. On the name change: "The history, the legacy, the 165 years of innovation, we thought was the perfect name for our company, Bausch Health. (The name) Valeant Pharmaceuticals has nothing to do with contact lenses, has nothing to do with medical-surgical devices ... it just didn't fit."
2. On doubling down on the company's core businesses: Mr. Papa said although Bausch and Lomb represents 56 percent of Bausch Health, gastroenterology and dermatology make up the other 44 percent.
3. On the future of Bausch Health: "For us, it's new products, new products, new products. We've launched a number of new products into the marketplace. We have seven products that today represent less than $100 million in sales, but in the next five years, we believe they'll represent over a billion (dollars) of sales. Those will be absolutely key to us."