Valeant no more — Valeant Pharmaceuticals rebranding as Bausch Health Companies

To further distance itself from its tumultuous past, Valeant Pharmaceuticals is rebranding as Bausch Health Companies, effective in July.

Here's what you should know.

1. Valeant CEO and Chairman Joseph Papa called the rebranding a "major step forward in our transformation."

2. Since taking over in May 2016, Mr. Papa has overseen a multifaceted effort to reduce the company's extensive debt. To date, Mr. Papa has reduced Valeant's debt by more than 20 percent.

3. All of Valeant's current businesses and subsidiaries will continue to operate under their current brands.

4. Sometime in July, Valeant will cease to exist. The company will unveil its new identity and begin trading on both the New York Stock Exchange and Toronto Stock Exchange under a new symbol, BHC.

Mr. Papa said, "We completed an extensive assessment of the name entities available from within our portfolio and also assessed several potential new names. As our review progressed, it became clear that Bausch Health Companies best represents the company we are today."

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