Bausch Health posted third-quarter revenue that surpassed analysts’ expectations. The company also boosted its revenue guidance.
In the third quarter, the pharmaceutical company’s revenue increased to $2.21 billion ( from $2.14 billion a year earlier), beating analysts’ estimate of $2.16 billion.
Bausch reported a loss of -$49 million, or -14 cents a share - compared to a loss of -$350 million, or -$1 a share in the year-ago quarter.
Adjusted net income for the quarter came in at $425 million, up from $403 million a year earlier.
Looking ahead, Bausch Health now expects a revenue range of $8.475 billion to $8.625 billion for the full-year 2019, up from its previous guidance of $8.4 billion to $8.6 billion.
CEO Joseph Papa emphasized on the strength of the company's long-standing brands, Xifaxan, BioTrue Oneday and Bausch + Lomb Ultra, as well as successful performances of newer products, such as Lumify and Thermage. Papa is also optimistic about their newest dermatology product Duobrii.