Bausch Health Companies Inc. · TSX:BHC
Bausch Health Companies — Morgan Stanley Global Healthcare Conference 2020
18 slides from Bausch Health Companies's conference presentation, Sep 16, 2020
Slide 1: Morgan Stanley Global Healthcare Conference
Morgan Stanley Global Healthcare Conference Sept. 16, 2020
Slide 2: Forward-Looking Statements; Non-GAAP Information
Forward-Looking Statements; Non-GAAP Information Forward-Looking Statements external considerations, approvals and conditions that will drive the ultimate timing and structure of any spinoff This presentation contains forward-looking information and statements, within the meaning of applicable trans
Slide 3: Update on 3Q20 Business Recovery
Update on 3Q20 Business Recovery 3
Slide 4: Bausch + Lomb/International Update
Bausch + Lomb/International Update Bausch + Lomb U.S. Vision Care Dollar % Change Year-Over-Year (Field Consumption)1 Stellaris Elite™ Procedures in U.S. Performed Since Beginning of 2020 (data collected via eyeTelligence which accounts for ~25% of the Stellaris Elite™ systems within the U.S. market
Slide 5: Salix Update
Salix Update XIFAXAN® TRx Year Over Year1 XIFAXAN®: TRx First 10 Weeks in 2Q20 vs. First 10 Weeks in 3Q201 Average Weekly Average Weekly 166,810 Change +5% Change -7% 10% 158,814 5% 0% -5% -10% -15% -20% First 10 Weeks First 10 Weeks Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Sep-20 in 2Q20 in
Slide 6: Ortho Dermatologics Update
Ortho Dermatologics Update JUBLIA®: NBRx First 10 Weeks in 2Q20 vs. First 10 Weeks in 3Q201,2 Thermage® Revenue Change Year-Over-Year 130% 22,594 100% 70% 15,045 40% 10% First 10 Weeks First 10 Weeks -20% Aug-19 Oct-19 Dec-19 Feb-20 Apr-20 Jun-20 Aug-20 in 2Q20 in 3Q20 JUBLIA®:TRx First 10 Weeks in
Slide 7: Update on Spinoff Announcement
Update on Spinoff Announcement 7
Slide 8: Spinoff at a Glance
Spinoff at a Glance1 • Unlock value across our two attractive businesses as soon as possible Key Objectives • Create two highly attractive but dissimilar businesses Internal Organizational Design / Structure to be completed within the next 12 months Capitalization Structure timing to be determined D
Slide 9: Progress of Key Activities
Progress of Key Activities1 Internal Organizational Design / Structure to be completed within the next 12 months Finalize product segmentation 4Q20 Carve out Bausch + Lomb and segmentation reporting 1Q21 Establish legal operating model 1Q21 Announce leadership teams 1Q21 Separation of corporate func
Slide 10: Bausch + Lomb 2019 Pro Forma Revenue $3.7 Billion
Bausch + Lomb Fully integrated, pure play eye-health company built on the iconic Bausch + Lomb brand and long history of innovation 2019 Pro Forma Revenue $3.7 Billion1,2 enVista IOL Stellaris 10 1. Numbers currently under review and subject to change. 2. Estimated~$110M to shift from BHC to Bausch
Slide 11: Global Consumer $1,441M
Global Consumer • Estimated 196M people will have $1,441M ~4% AMD5 in 2020, increasing to 288M in 20406 2019 Pro Forma 2017-2019 • Overall prevalence of dry eye Revenue1,2 Pro Forma Revenue CAGR1,2,3,4 disease in patients of 40 years and older was found to be 54.3%7 Geographic Mix by FY19 Revenue Pr
Slide 12: Global Vision Care $848M
Global Vision Care $848M ~7% ~125M 2019 Pro Forma 2017-2019 people globally with vision Revenue1 Pro Forma Revenue CAGR1,2,3 impairment due to refractive error that has gone unaddressed4 Geographic Mix by FY19 Revenue Product/Franchise Mix by FY19 Revenue SofLens ® 2% 5% 12% BioTrue ® ONEday 3% ® U.
Slide 13: Global Ophtho Rx $761M
Global Ophtho Rx $761M ~6% ~7M 2019 Pro Forma 2017-2019 Pro Forma Revenue people globally with vision Revenue1,2 CAGR1,2,3,4 impairment due to Glaucoma that CAGR includes ~$20M has gone unaddressed5 headwind from LOEs Geographic Mix by FY19 Revenue Product/Franchise Mix by FY19 Revenue Lotemax ® 7%
Slide 14: Global Surgical $698M
Global Surgical $698M ~4% ~65M 2019 Pro Forma 2017-2019 people globally with vision Revenue1 Pro Forma Revenue CAGR1,2,3 impairment due to cataracts that has gone unaddressed4 Geographic Mix by FY19 Revenue Product/Franchise Mix by FY19 Revenue Anterior Disposables 18% 9% 14% Posterior Disposables U
Slide 15: BHC (Remaining Business) 2019 Pro Forma Revenue $4.9 Billion
BHC (Remaining Business) Dentistry Generics 2% 6% Diversified pharmaceutical company with leading positions in gastroenterology, aesthetics/dermatology, neurology and international pharmaceuticals Neuro International and Other 23% 15% 2019 Pro Forma Revenue Global $4.9 Billion1,2 Solta 4% Ortho Derm
Slide 16: Appendix
Appendix 16
Slide 17: CAGR Reconciliation
CAGR3 Reconciliation 2019 2017 Adjusted Adjusted Pro Changes Pro Forma Forma Pro in Revenue Revenue CAGR% Forma Exchange (Non- Pro Forma Divestitures and (Non- (Non- Revenues Rates (1) GAAP) (2) Revenues Discontinuations GAAP) (2) GAAP) (3) Global Vision Care 848 16 864 752 (3) 749 7% Global Surgica
Slide 18: Non-GAAP Appendix
Non-GAAP Appendix Description of Non-GAAP Financial Measures To supplement the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures, as follows. These measures do not have any standardized meaning un
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