VALEANT MANAGEMENT TOOK A DECISION TO CHANGE THE NAME
Valeant now will be called Bausch Health, CNBC reported. New brand will become valid starting from July 2018, said Joseph Papa, CEO. He noted that he had been thinking about renaming since the very moment when he started managing Valeant in 2016, as the company under his management is more than just a producer of drugs. As early as 2016, William Ackman, member of the board of directors of Valeant, announced about the possibility of changing the brand in order to minimize the negative consequences of reputational losses due to scandals with inflated prices for medicines and collusion with pharmacy chains. Back at that time the variant Bausch & Lomb was considered since it is one of the most successful Valeant’s businesses.